понедельник, 20 августа 2018 г.

Structured Problem Solving Process



From my practice when we faced a challenging situation at work than we used Ed Muzio's approach. It has 7 steps of problem solving. The first step is definition. Definition asks the question what is the problem really. Until you that you can't go any further. The second step is data collection. Data collection answers questions what is going on. Step three is cause analysis. This answers questions why what's going on here. Step four is solution planning. That is a lot of work. This can take quite some time to plant a solution well and to implement it. It's worth the effort. Step five is evaluation of efforts. The question here is did it work. Is our solution work or we are still not done. Step six is standartization. The idea of standartization is we have gone through a lot of work to get the solution. Let's see how widely we can use it in the organization. Step 7 is evaluation of whole process. The idea here is to learn something based on the work we have done.


Batkhuyag Naigal, Ph.D.


How To Use Structured Problem Solving


If everything worked smoothly in your work, there would be no need to keep you on the payroll. Even if you did stay, your daily work would quickly become boring. Facing new challenges prompts us to grow and develop new skills. To use an athletic analogy, you don’t build endurance until you push yourself to work harder. This multi-step process is a proven method to get work through challenging problems.

When Should I Use Structured Problem Solving?

It is important to use the right tool for the task at hand. This is a powerful method that takes some time to plan and use. As a result, it only makes sense to use it on medium or large problems. If you are facing a minor computer glitch, simply restarting your computer will solve 95% of such problems. If you are facing a problem with a multi-million dollar project, this process makes sense to use. Finally, this process is useful to apply when you are facing an unfamiliar or frustrating problem.

Why Should I Use Structured Problem Solving?

Using a disciplined problem solving metod is useful in several circumstances. Consider using this process when are facing a situation that meets some or all of the criteria below:
  • New Problems. If you face a new problem that initially baffles you and defies solution, look into using a structured process to address the situation.
  • Stressful Problems. Certain problems – such as those involving weak skills or difficult people – trigger stress feelings. Emotion does help in motivating you to act. Unfortunately, emotion does not tend to generate specific solutions.
  • High Risk Problem. High risk problems have the potential to cause significant damage to your organization and career if you do not take action.
  • Priority Impact. If a given problem directly undermines your ability to achieve success on a priority goal, then it makes sense to apply some additional resources on solving the problem.
Ultimately, you will have to use your professional judgement to decide whether and how to apply this scenario. If you are just getting started with this process, I suggest using it on a small problem first. That way, you can build confidence in using the strategy.

The 6 Step Process For Problem Solving

Use these steps in sequential order to gain the best results in solving complex and important problems.

Step 1: Identify the problem

At this stage, you are defining the scope of the problem you have to solve. Points to consider at this stage include: problem origin (if known), problem impact (e.g. on customers, on staff or reputation) and timeline to solve the problem.
Example: “Three important vendors for next week’s conference have failed to meet several milestones defined by the contract. Vendor non-performance will result in conference attendee complaints and reputational damage.”
Note: the time factor is important to consider because it influences how much time you can dedicate to thinking through the problem. In extreme conditions, you may run through this entire process in less than an hour.

2. Structure the problem

Putting the problem into a clear structure for analysis is one of the great insights that consultants and MBA graduates bring to their work. What does it mean to structure a problem? It means identifying the important issues.
Example: Vendor non-performance in this case has the following points. First, there is a contract aspect to the problem. Second, there is a problem relating to our oversight and monitoring over the vendor. Third, this problem has an impact to the attendee experience.
Popular structures to use include Porter’s five forces model, connecting the problem to company goals or connecting the problem to a balanced scorecard.

3. Develop solutions

According to research by Chip and Dan Heath in their book “Decisive,” most managers develop only two solutions: “Do x or do not do X.” It will come as no surprise that this approach rarely delivers success. Binary choices tend to have a 50% or greater failure rate. On the other hand, fifty solutions is probably too many to handle especially if you are working through a problem solving process on your own.
The Solution Sweet Spot: developing three to five solutions is usually enough according to business consultant and author Michael Bungay Stanier.
To return to our vendor scenario, here are five solutions one might consider:
  1. Hire a new vendor to deliver.
  2. Enforce contract penalties for non-performance.
  3. Escalate the issue to a higher level (e.g. your executive calls the executive at the vendor) to discuss the situation.
  4. Implement new milestones with daily status reporting.
  5. Cancel the event if there is no way to produce a quality outcome according to schedule.

4. Select a solution to the problem

With a list of possible solutions on the table, it is now time to decide. If you face a personal problem or one that only impacts your work, choosing the option that strikes you as best is enough. In other situations, use a scoring process.
In our conference example, your decision criteria could be: cost, quality and reputation. Writing up a few notes to explain your decision is helpful if you need to convince something else to support your decision.
Example: I recommend hiring another vendor to complete the printing because we have a list of three backup vendors and the additional cost is within our planned budget.
Note: For large scale problem solving, you may have to follow an organizational template or policy if your solution requires a large amount of money.

5. Implement a solution

In this step, you put the solution into action. Implementation may become a project of its own. In that case, you have a full toolkit of project management tools and processes to call on.
Tip: If you are solving a novel problem, stay humble about your solution. It may not work or there may be a better way.

6. Monitor for success

Monitoring the solution and situation is a key step to ensure the problem is truly solved. Failing to follow up – especially if you have assigned the task to someone else – is a recipe for disaster. Monitoring is also important because problems are sometimes symptom of a deeper problem.
Tip: Increase the quantity and frequency of reporting when you are working through an important problem. In the conference example, you may ask for daily progress reports if the conference is ten days away.

Further Resources For Problem Solving

Consultants, authors and other professionals have done great work in creating tools and methods for business problem solving. In this section, you will find a few resources to continue your problem solving education.
McKinsey & Company Case Interviews. The global consulting firm provides business cases and other resources to assist job applicants seeking a role at the firm. Take a look at the practice problem solving tests to refine your skills.
CasePlace.org. Created by The Aspen Institute Business and Society Program, Case Place is a rich resource of case studies on a variety of organizations. Of special note: users can find cases by business discipline such as accounting, law and operations.
Are You Solving the Right Problem?. This Harvard Business Review article points out that problems vary in value. You may face several problems on any given day – choosing the right problem to work through matters.
https://goo.gl/YJnXPT

среда, 8 августа 2018 г.

The Importance of Conversion Rate Optimization in 2018


POSTED BY LOUISE HUGHES — 



After spending so much time on getting your website right, you’re probably noticing a steady stream of traffic each day. The problem is, none of your visitors are purchasing anything or doing the things you want them to do, but they keep churning in, so what’s going wrong?
Conversion rate can be summed up as the amount of visitors landing on your website that complete a particular action. E.g. purchase an item, click a button, sign up to a newsletter, etc. Depending on your type of business, your conversion rate will be different. If you own an eCommerce company, your end goal will be to convert website visitors to purchasing something from your store.
There’s no doubt that conversion rate optimization is a tricky concept to get your head around, which is why we’ve put together a list of interesting facts, statistics, and tips to help increase your website’s conversion rates.

Conversion Rate Optimization (CRO)

Conversion rates are used within companies and marketing teams to determine the effectiveness of their websites and eCommerce stores. Conversion rates are key in predicting growth but aren’t always easy to achieve.
  • Globally, 3.63% of conversion rates to add-to-basket or to cart are performed on a desktop computer
  • Only 1.25% are using a smartphone when converting
  • In the UK, 5.15% are using a desktop computer, whereas 2.52% are using their mobile phone, around 50% difference
  • 20.2% of mobile phone users confirmed they had security concerns when purchasing online using a smartphone
  • 19.3% said they found navigating an online store from their mobile phone too difficult
  • 4.29% average order conversion rate was obtained through email, proving to be the highest converting channel
  • Only 1.81% convert via social media, however, more than 80% of users are browsing social media sites on their smartphone
  • Content marketing is the most popular marketing technique in 2018, with 20% of marketers choosing this as their most effective marketing activity
  • Artificial Intelligence (AI) and big data are the second most effective marketing techniques with 14% of marketers

eCommerce

Unfortunately conversion doesn’t just happen, depending on your target market, you need to optimise for it. For eCommerce businesses, your main focus will be converting visitors on your website to sales. Other conversion rates could include items added to cart, items added to wish lists, email subscribers, and social media sharing.
  • eCommerce businesses can expect an average shopper conversion of around 2.95% worldwide
  • The most popular product sold on the internet, based on conversion rate, is electronics with a conversion rate of around 23%
  • Just over 50% of internet users search for product or service related videos before visiting or purchasing from an online store
  • eCommerce shoppers who view video content are nearly 2 times more likely to purchase than those who haven’t viewed a video
  • 64.6% of internet users will click on Google ads when they are searching for an item to buy online
  • 34% of online retail purchases occur on mobile and smart devices

Lead Generation

Customer journeys are no longer as simple as they used to be, with the boom of mobile phones, tablets, and smart devices. Where it used to be a case that companies could cast a generic net over their target audience, marketing strategies have adapted and taken on a more nurturing form.
  • 93% of B2B companies rely on content marketing to generate more leads compared to other marketing methods
  • 96% of website visitors aren’t ready to buy, but can be converted with a solid strategy
  • In the B2B market, 68% of companies take the opportunity to use landing pages in order to generate leads
  • For the B2B companies, those who generate blog posts more than 11 times per month can obtain 4 times the amount of leads as those blogging only 4 times per month

Conversion Rate Tips

  • Create a sense of urgency: Did you know that creating a sense of urgency around your call to action (CTA) buttons can result in higher conversions? A case study showed a 3.5% conversion rate increased to 10% after the introduction of a countdown timer.
  • Live chat: Customers in 2018 are impatient; we want information and we want it now. Studies have shown that adding a live chat feature to a company website can increase sign ups by 31%.
  • Relevant headline: When visiting your websites, customers are going to notice your site’s headline before anything else, so what you write must be engaging and relevant. A company called Movexa added a single word to their headline, improving conversion rates by 89.97%.
  • Trust and awards: Whether your company is receiving great reviews from trust pilot, has a food health and safety certificate, or has won an award, it’s important to show this off. A case study showed after adding a ‘guarantee’ badge to their website, they experienced a 32% increase in conversions.
  • Free returns: As a consumer, we put our trust in sellers and suppliers to provide us with the right goods and services. However, sometimes we aren’t satisfied with what we’ve received and want to return it. What better way to get your customer to convert than to offer free returns? 82% of study respondents said they would purchase an item if it offered a free returns policy.
  • Videos: Video has become the king of content, attracting a wider range of consumers to purchase from providers who offer video tutorials, brand stories, and more. A case study showed that the introduction of a video on their website’s landing page increased their leads by 16.4%.
References:

понедельник, 6 августа 2018 г.

Make a Difference with your BA Skill Set

In today’s age, Business Analyst has become a key role in an IT or any other Organization. But as a BA he should not be confined to limited skills. Though he is not responsible, then also he should have working knowledge on each and every process that happens in a project life cycle.

It is all about differentiating from others with the advanced skill set which will make an employee irreplaceable in an organization. So as a BA, he should be equipped with the most advanced skills present in the industry. Out of my experience, I have tried to list out all in the form of a diagram being displayed below.


BA Skill Set

Planning Skills for a Business Analyst

Many people do not understand that business analysis work involves a lot more than just “gathering” the requirements. In addition to requirements gathering skill, a BA should have a structured plan and approach to elicit, analyze, document, review and validate system requirements. 

Stakeholder Analysis and Communication Planning are the two of most important tasks that a BA should be well versed with. These two items are mostly related to the planning activities of BA. BA should be able to showcase the plan containing the achievable milestones to all the stakeholders of the Project. 

Business analysis planning should be done for every project but it doesn’t have to be an enormous, time consuming process. Many of the planning tasks can be finished very swiftly, while some tasks may require a little research and analysis.

The following process map depicts the Business Analyst Planning Skills.



Planning Skills for a BA



Abhijit Patro

https://goo.gl/Up7C1y

Why does a Project need both: a PM and a BA?

Having a strong, experienced Project Manager and an efficient, knowledgeable Business Analyst in a Project, is the best way to assure its Success. Both roles are essential because they are each accountable for a diverse set of activities and they each possess a set of skills that complement each other. Both of them work together from the start of the Project and set a platform for success by their proper Planning and Executing skills.

At times, only one person plays both the roles in some organizations. This article discusses the significance of assigning different individuals to each role to ensure project success.



Responsibilities of PM & BA

When One Person Performs Both Roles

In SMEs or when the Organization is short staffed, one person is assigned to act as both the PM and the BA. This kind of cases have been seen, where there is lack of understanding the roles and responsibilities of BA Role and people feel that Business Analysis is one of the activities that PM needs to do. When only one person is assigned to both the roles, the challenge is to be aware of the conflicting focus and try to act in one role at one point of time.

Skill Comparison: PM Vs BA?

Each role provides focused capabilities that make the difference between whether a project succeeds or struggles. PMs and BAs each have distinct skills and knowledge areas and both of them produce a high quality product. Both of them want the project to be successful and want to satisfy all the Stake-holders as well as the client. They understand the ultimate purpose of the project – to meet the project objectives. There are many other areas where the two individuals diverge and do very different types of tasks.


PM Vs BA - Skill Comparison
Dynamic Duos

When assigning PMs and BAs to a project, the success depends on their experience, knowledge and skill sets in the respective areas.

If a strong, experienced PM is assigned to work with an inexperienced, unskilled BA, the requirements gathering and analysis tasks may be quick and key requirements may be missed. This situation will result in rework on requirements analysis & development, missing deadlines, over budget, etc.

In contrary, if a weak PM is assigned to work with a skilled and experienced BA, too much time may be spent in requirements gathering and the project will fall behind schedule as BAs want to get every single detail to be captured 100%.

“The best way to guarantee success of any type of project is to have a strong, experienced Project Manager and a strong, experienced Business Analyst.”

Abhijit Patro

https://goo.gl/ir8oVD