Scrabble Dictionary

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Yes, scenario is playable

...and is worth 12 points.

Found in the following dictionaries

Enable (Words with friends)
SOWPODS (Collins Scrabble Words)
OTCWL2014 (NASPA Word List 2014)
TWL06 (NASPA List 2006)

"Scenario" Definition

noun

A screenplay.
A treatment for a screenplay.
An outline for a screenplay.
An outline of the plot of a dramatic or literary work.
An outline or model of an expected or supposed sequence of events: "In the scenario posed by many climatologists, decades of continued global warming would raise sea levels anywhere from 20 inches to more than 11 feet” ( San Francisco Chronicle).