In times of volatility and stress, one role of FP&A is to lower the blood pressure of the organization. To manage short-term volatility, FP&A practitioners often have a principled response: follow the core attributes of your company.

At AFP's recent FinNext event, a panel of experts came together to discuss how market changes can upend their operations, and how they navigate their teams through the volatility. One common thread among the responses is that, while volatility can disrupt plans and create panic, the most effective way to respond is to have a set of guiding principles to organize your thoughts and reactions. Without this, teams can be adrift among the sea of potential responses, chasing different ends and losing focus.

What follows are three examples of volatility faced by the panelists and their approaches, along with concrete steps that FP&A can take to prepare for and react to volatility.