Role does the cost-benefit relationship play as you frame the problem and proposed opportunity

Problem Statements

Response Guidelines

Read the posts of your peers and respond to at least two (see below). When responding to others, seek clarification, share your personal experiences that relate to their experiences, and provide feedback on their posts.

Student 1

As the real causes for the problem are identified, it is important to consider the severity, location and financial impact of the problem while keeping your audience in mind.  You have to remember that you have to give management a clear picture of what’s going on and give the team members who will be working on the project the tools to correct the problem.

The best way to describe a problem would be to state it clearly and include where it is occurring, the magnitude of it, and the time frame in which the problem has been occurring along with stating the what the problem is and an applicable metric to describe it.

When it comes to keeping your audience in mind, that is important because you don’t want to write something that a higher level manager who is not as well versed in the subject matter as you are can’t understand.  I am in a similar position at work.  My boss does not understand as much about my job as I do, so I have to keep that in mind daily.  Providing too much detail may lose your audience in a cloud of misunderstanding, but not enough detail can result in insufficient support for the need for improvement.

The cost-benefit is a big deal because managers are always concerned with the bottom line.  In accounting terms, it’s more of a rate of return idea.  Managers want to see what they will get for their money, specifically relating to such things as reducing costs.  The more effective these factors are, the more likely the project is to pass.

Reference:

Gygi, C., Williams, B., DeCarlo, N., Covey, S. (n.d.). How to write a problem statement for Six Sigma. Dummies. Retrieved from  https://www.dummies.com/careers/project-management/six-sigma/how-to-write-a-problem-statement-for-six-sigma/

Student 2

In the development of a problem statement, what are some components you consider important as you identify the real causes of a problem?

· Some of the important components that I consider that causes problems for companies are: The experience level of employees, and the company trying to meet a quota or pressure from upper management.

How would you describe a problem in a way that is clear to the management team that will be evaluating the OIP?

· I would first mention areas in which the company has succeeded, and then proceed to mention the shortcomings. Data, both quantitative and qualitative, will be presented. I would also present the issues that has come up and how these solutions obviously did not work since the same problem keeps happening.

Why is it important to keep your audience in mind as you determine what level of information and detail is appropriate?

· It is very important to keep the audience in mind, but I would present the numbers. Having a high sales is important, so is the lives of people. There must be a certain risk that the company is willing to take to generate a high return. I’m a “tell it like it is” person, and I do believe everyone is trying to come to the same solution. I also do like to brainstorm ideas with the team members, I won’t be the only person. The audience will also have to opportunity to share their thoughts.

What role does the cost-benefit relationship play as you frame the problem and proposed opportunity?

· Through this opportunity, the role of cost benefit will be open to everyone. The point of this proposal is to bring solutions when all else fails; not only is the loss more than the profit, the amount of customers are also declining. There will be a cost benefit when a better approach is implemented.

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