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Fed raises rates again
Greenspan & Co. boost short-term rates to 4.25% but signal that an end to rate hikes is in sight.
December 13, 2005: 6:12 PM EST - By Paul R. La Monica, CNNMoney.com senior writer

The Inside Job
Employee fraud blindsided Bob Bitz. Here's how you can protect your business

Coming Soon!

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Problem-Solving Success Tip: Measure

By Jeanne Sawyer

Measure. The first key question to answer in starting a problem-solving project is, “How will you know when the problem is solved?” Answer this question in measurable terms before you start trying to solve the problem. As you begin defining your problem, these success metrics help set clear expectations about what will be different when you finish. At the end of the project, the measurements will demonstrate that the difference has been achieved, i.e., the problem has been solved.

To be useful, success measurements must be simple in concept and connected so clearly to the problem that you can remember them easily. As with the description, somebody who doesn’t already know about the problem should be able to read your success criteria and understand them.

The objective in setting success metrics for a problem-solving project is to define the minimum necessary to solve the problem. This is completely opposite to the way we usually set goals. In problem-solving, we want to do everything necessary to solve the problem, but nothing extra.

Once you decide what your success metrics will be, check them with real data. This not only verifies that you really can collect and report the measurements, but also lets you establish baselines. Measure exactly what your performance is before you start analyzing the problem and taking corrective action. The baseline measurements let you confirm that there really is a problem and sanity checks the performance levels you’ve defined as success. You can make corrections if necessary, before you start down a wrong path.

Measure to determine that the problem is solved, but also use measurements throughout the problem-solving process. Measurements can also help you test assumptions, verify root causes, assure tasks are completed properly and report progress.

Bottom line: if you don’t measure, you won’t know for sure. Use measurements to learn and portray the truth—the real truth, not what you wish were true.

What is Brainstorming?

Brainstorming is a process for developing creative solutions to problems. It works by focusing on a problem, and then deliberately coming up with as many solutions as possible and by pushing the ideas as far as possible. One of the reasons it is so effective is that the brainstormers not only come up with new ideas in a session, but also spark off from associations with other people's ideas by developing and refining them. The steps for brainstorming are:

Gather the participants from as wide a range of disciplines with as broad a range of experience as possible. This brings many more creative ideas to the session.
Write down a brief description of the problem - the leader should take control of the session, initially defining the problem to be solved with any criteria that must be met, and then keep the session on course.
Use the description to get everyone's mind clear of what the problem is and post it where it can be seen. This helps keep the group focused.
Encourage an enthusiastic, uncritical attitude among brainstormers and encourage participation by all members of the team. Encourage them to have fun!
Write down all the solutions that come to mind (even ribald ones). Do NOT interpret the idea, however you may rework the wording for clarity's sake.
Do NOT evaluate ideas until the session moves to the evaluation phase. Once the brainstorming session has been completed, the results of the session can be analyzed and the best solutions can be explored either using further brainstorming or more conventional solutions.
Do NOT censor any solution, no matter how silly it sounds. The silly ones will often lead to creative ones - the idea is to open up as many possibilities as possible, and break down preconceptions about the limits of the problem.
The leader should keep the brainstorming on the subject, and should try to steer it towards development of some practical solutions.
Once all the solutions have been written down, evaluate the list to determine the best action to correct the problem.

Do NOT evaluate ideas until the session moves to the evaluation phase. Once the brainstorming session has been completed, the results of the session can be analyzed and the best solutions can be explored either using further brainstorming or more conventional solutions.

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