Scenario Planning is a way to investigate and prepare for several alternative futures. This type of planning contemplates a number of different boundary conditions and projects how the organization will perform under those conditions.
Contingency Planning addresses how abrupt changes or disruptions might affect an organization and looks at strategies to respond. Scenario and contingency planning are specialized forms of planning that take a panoramic view of life instead of simply looking straight ahead. These approaches seek to anticipate and possibly defuse problems before they even arise.