The future of vocational education and training (VET) in Australia was explored in a project that was designed to identify emerging issues in VET, identify challenges and opportunities for strategic thinking about the future of VET, and establish a basis for ongoing consideration of strategic issues. The major project activities were as follows: (1) a preliminary national consultation to scope the project; (2) a detailed environmental scan of developments likely to shape VET's future; (3) workshops to develop alternative scenarios for VET and projected major challenges and opportunities; and (4) a national consultation to assess and refine the issues emerging from the scenarios and develop appropriate positioning strategies. The following scenarios were used to explore the future of VET: (1) a scenario called Oz Inc., which assumed a booming economy, privatization of government services, two types of jobs, and a knowledge- or personal service-intensive market in learning; (2) universal training; and (3) Australia's transformation into a community of learning. The national consultation confirmed the importance of the 11 major challenges and opportunities for VET's future and supported greater use of scenario planning. The following items are appended: a scenario planning manual; a list of participants in the national consultation exercise; and a list of 29 references. (MN)