The Baggies will restart their Championship campaign later this month in a strong position to push on and regain top flight status, sitting second in the table with a six-point cushion and just nine matches remaining.
Yet Dowling is continuing to plan for all eventualities when it comes to the transfer dealings which will take place once the campaign is completed.
Confidence remains high in Slaven Bilic’s team and Albion have a list of targets they will pursue should they win promotion.
But Dowling has also produced an alternative list in case they miss out, after admitting that was something the club failed to do a year ago when they were beaten in the play-offs by Villa.
He said: “Last year, I think we got it wrong. We were only looking at players for the Premier League and probably got ahead of ourselves.
“This time we are trying to be calm. Things will look a lot better if we are a Premier League club but you have to be prepared and have lists for both scenarios.
“I will admit the list is bigger and better if we are a Premier League club.
“I think the list will change in terms of what we have. When you hear from other clubs and leading agents I think the transfer fees will be reduced as well. I think it is going to be a very different window.”
Under normal circumstances the summer window would already be open but with the season not set to conclude until the end of July, the timeframe for when clubs will be able to pursue deals is still to be agreed.
Dowling, meanwhile, believes the economic impact of the coronavirus shutdown will lead to a fall in transfer fees and player wages.
“I think we will see a real change,” he said. “It is not just football but every business in the world that is affected.
“When it comes to football it will be fees and wages. Don’t get me wrong there will be nice salaries for players to earn but I don’t believe they will be at the big, big money level.”