Algorithms and Data Structures

Session 3 & 4: Problem Solving and Computational Thinking

Define the Problem:

+ Identify the Problem:
- Defining the problem is the hardest part. We
usually tend to worry about the problem before trying to
identify what the problem actually is. We perceive a
problem, which might not actually be the problem and
start worrying about it. Instead, try to define the
problem!
- Defining the Problem with help from others:
- When you are trying to define the problem, you must ask
yourself and others involved in the problem the following
questions.
1. What are the causes to the problem? Here you might not
identify the main causes as such but it is a start. You
have to keep in mind that you are not blaming somebody as
a cause to the problem right at the beginning. The person
might be the cause, but see what led to that person being
the cause of the problem.
2. Where is the problem actually occurring?
3. How is the problem occurring?
4. At what times specifically is the problem occurring?
5. Who is the problem happening with?
6. Why is the problem arising? Here you will have to jot
down the exact details as to why the problem is
occurring.
Finally, you will have to take a sheet of paper and
summarize the above answers.
You could begin with "The following is not happening
because of _______________".

- Defining Complex Problems:

This step also requires you to follow the steps 1-6 that
have been stated above.
However, since you find that the problem is overwhelming,
you will have to break it down and make it simpler.
Repeat the steps 1-6 for these smaller problems in order
to define the complex problem as a whole.
- Check your understanding of the problem: Since you are
working with other people in identifying the problem, you
will find it easy to verify whether your understanding of
the problem is the same as your peers.
- Prioritize your problems:
- Identify your role
- Identify Potential Causes for the problem
- Try to identify a strategy and a solution
- Select the most feasible solution: You would have
identified a lot of solutions to your problems through
the previous step. You will have to now select the best
approach to solving your problem.
You will have to consider the following when identifying
the best solution to your problem.
1. Which solution will solve the problem for the short
term as well as the long term?
2. Are there any risks associated with the solutions?
3. Is it a realistic goal to use the solution to solve
the problem?
4. Is it financially viable?
5. Do we have the time to solve the problem through this
method?

+ Introduction to Problem Solving:

- Problem Solving:
- In computer science and in the part of artificial
intelligence that deals with algorithms ("algorithmics"),
problem solving includes techniques of algorithms,
heuristics and root cause analysis.
- In these disciplines, problem solving is part of a
larger process that encompasses problem determination,
de-duplication, analysis, diagnosis, repair, and other
steps.
- Other problem solving tools are linear and non-linear
programming, queueing systems, and simulation.
- A simulation is an approximate imitation of the
operation of a process or system; the act of simulating
first.

- Problems can be catagorised into

1. Well defined problems
2. Ill-defined problems (not having a clear description
or limit).
- When you are faced with a problem in any field,
or even in your life, you might either try to solve the
problem through logic or by trying to interpret the
problem. No matter which method you use, you have to
first understand the goal of the problem and also try to
identify the different routes you can take to solve the
problem. This is the key to problem solving! You might
sometimes have to resort to abstract thinking and try
coming up with a creative solution.

- Problem Techniques:
Theory of Evolution:
- Components involved in evolution:
1. Natural Selection:
- Natural selection is a process where a design is chosen
from a bunch of alternative designs depending on how it
helps them reach closer to their goal. It is because of
this component that everybody has to adapt to different
situations.
- This is a major component in problem solving in which
the use of alternate solutions (designs) to help a person
achieve the goal.
– which is to solve the problem at hand. If the person
finds that the adaptation was useful, it is passed on to
the next generation.
- When compared to problem solving, the adaptations are
the solutions which are passed down depending on whether
or not they have worked well.

2. Sexual Selection:
- This process has the characteristic that individuals
rival against people of the same sex and find themselves
attracted immensely to individuals of the opposite sex.
- The concept of rivalry comes very often in problem
solving. People might find it difficult to avoid blaming
one another when under pressure. However, this problem
can be overcome as well.

+ Computer Science and Algorithms:

- Every software company that develops new software has
to troubleshoot and solve problems that the new software
might have.
- In the field of computer science and artificial
intelligence where algorithms are the methods through
which the programs are designed, problem solving is a
hero.
- However, it is not the only process that people working
in these fields have to do. They have to first determine
the problem that they face, then remove any duplication
in the problem, analyze and then solve the problem.
- For instance if the programmers or developers find that
there is a bug in the coding of a new app, they will have
to first identify the line at which the error occurs.
Once they find the error they will have to check if the
error has occurred
anywhere else in the code. After identifying this they
can work on solving the issue that is at hand.
- It could be that the programmer did not have enough
knowledge and made the error. If that is the case, the
supervisor or manager can work on improving the
programmer’s knowledge or can assign the coding to
another programmer.

+ Characteristics of difficult problems:

- difficult problems are those which are ill-defined
problems, they have some characteristics that are
typical.
- The following section focuses on those problems.
1. Lack of clarity
2. Multiple goals
3. Multiple items, decisions and relations
4. Time

+ Definition Creativity v/s Innovation:

Creativity:
- Creativity is the capability or act of conceiving
something original or unusual.
- Creativity is the characteristics of a person to
generate new ideas, alternatives, solutions, and
possibilities in a unique and different way.
- Creativity is the ability to conceive somthing
unpredictable, original and unique.
- It must be expressive, exciting and imaginative. It is
the mirror of how beutifully a person can think in any
circumstances.
- It is not genetic but can be developed is someone keeps
on learning and comprehending things with a rare and
exclusive perception.
- Creativity is a brainstorming and mind-blogging
activity in which person has to think beyond his
imagination for bringing something which was previously
hidden.

Innovation:
- Innovation is an implementation of something new.
- Invention is the creation of something that has never
been made before and is recognized as the product.
- Innovation is an act of application of new ideas to
which creates some value for the business oraganization,
government and society as well. Better and smarter way of
doing anything is innovation.
- It could be the introduction of:
- New technology
- New product line or segment
- A new method of production
- An improvement in the existing product

- Innovation is closely tied to creativity i.e. putting

creative ideas into actions is an innovation, whose
consequnces should be positive. - It is the process of
doing something better for the first time, which was not
previuosly done by any entity.
- It can also be termed as a change which can bring a new
edge to the performance and productivity of the company.
It is of two types i.e. evolutionary and revolutionary.
- If you have a brainstorm meeting and dream up dozens of
new ideas then you have displayed creativity but there is
no innovation until something gets implemented.
- Somebody has to take a risk and deliver something for a
creative idea to be turned into an innovation.
- An invention might be a product or device or method
that has never existed before. So every invention is an
innovation. But every innovation is not an invention.
- When your company first published its website that was
a major innovation for the company even though many other
websites already existed.

Creativity v/s Innovation:

1. creativity is an act of creating new ideas,
imaginations and possibilites. Whereas an Innovation is
an introduction of something new and effective into the
market.
2. creativity is an "imaginative process" whereas
innovation is a "productive process".
3. creativity is "not quantifiable" i.e. cannot be
measured whereas innovation is "quantifiable" i.e. can be
measured.
4. there is no money consumption in creativity whereas in
innovation money consumption is there.
5. there is "no risk" involed in creativity whereas
"risk" is always attached to Innovation.

Find Creative Solutions using creativity tools:

- Effective problem solving approaches: there are seven
steps for an effective problem-solving process.
1. Identify the issues:
- be clear about what the problem is
- remember that different people might have different
views of what the issues are.
- separate the listing of issues from the identification
of interests.
2. Understands everyone's interests:
- the best solution is the one that satisfies everyone's
interests.
3. List the possible solutions (options)
4. Evaluate the options
5. Select an option or options
6. Document the agreement(s)
7. Agree on cotingencies, monitoring, and evaluation.

Critical Thinking & Information Analysis:

- Critical thinking refers to the process of actively
analyzing , accessing, synthesizing, evaluating and
reflecting on information gathered from observation,
experience, or communication.
- It is thinking in a clear, logical, reasoned, and
reflecive manner to solve the problems or make decisions.
- Basically, critical thinking is a taking a hard look at
something to understand what it really means.

Critical Thinkers:
- Critical thinkers do not simply accept all ideas,
theories, and conclusions as facts. They have the mindset
of questening ideas and conclusions. They make reasoned
judgements that are logical and well thought out by
assessing the evidence supports a specific theory or
conclusion.
- When presented with a new piece of information critical
thinkers asks questions such as:
• what information supports that?
• How was this information obtained?
• Who obtained information?
• How do we know the information is valid?
• Why is that way?
• What makes it do that?
• Are there any other possibilites?

Combination of Analytical and Creative Thinking:

- Critical thinking incorporates both analytical thinking
and creative thinking.
- Critical thinking does involves breaking down
information into parts and analyzing the parts in a
logical, step by step manner. However it also involves
challenging consensus to formulate new creative ideas and
generate innovative solutions.
- It is critical thinking that helps to evaluate and
improve your creative ideas.

Elements of Critical Thinking:

- Critical thinking involves:
 Gathering relevant information
 Evaluating information
 Asking questions
 Assessing bias or unsubstantial assumptions.
 Making inferrences from the information and fillings
in gaps.
 Using abstract ideas to interpret information.
 Formulating ideas.
 Weighing opinions
 Reaching well-reasoned conclusions.
 Considering alternative possibilites.
 Testing conclusions.
 Verifying if evidence/argument support the
conclusions.

Developing Critical Thinking Skills:

- Critical thinking is considered a higher order thinking
skills, such as analysis, synthesis, deduction,
inference, reason, and evaluation. In order to
demonstrate critical thinking, you would need to develop
skills in:
 Interpreting: understanding the significance or
meaning of information.
 Analyzing: breaking information down into parts.
 Connecting: making connections between related items
or pieces of information.
 Integrating: connecting and combining information to
better understand the relationship between the
information.
 Evaluating: judging the value, credibility or
strength of something.
 Reasoning: creating an argument through logical
steps.
 Deducing: forming a logical opinion about something
based on the information or evidence that is
available.
 Inferring: figuring something out through reasoning
based on assumptions and ideas.
 Generating: producing new information, ideas,
products, or ways of viewing things.

+ Brainstorming:
- Brainstorming is a perfect strategy to use when there
is a group of people involved in solving the problem.
This is a great technique since multiple methods to
solving a problem come up during discussions. Each member
of the group can see how the problem at hand can be
solved. Based on their perspectives, they can provide
solutions to the problem. These solutions can be combined
and developed to form an accurate or optimum solution.
- It is an activity intended to generate new creative
ideas to solve specific problem. It is a freewheeling
group discussion that attempts to find a solution by
gathering numerous ideas from the participants.
- Because of the free-thinking environment, the session
helps promote creative out of the box ideas which break
free from normal ways of thinking.
- An analysis and critic of the proposed ideas is
conducted only after the brainstorming is over.
Process:
- In a brainstorming session, every participant is
encouraged to think aloud and spontaneously come up with
as many ideas as possible, no matter how outlandish or
crazy it may seem.
- The participants shout out ideas as they occure to
them. All the ideas are noted and are not criticized or
judged. Criticism and judgement of ideas are only allowed
when the brainstorming session is over. This is to allow
people to think outside the box and freely suggest any
idea that may seem remotely possible.
- The purpose of the session is to obtain as many ideas
as possible for later analysis. Therefore, people should
build on the ideas suggested by other participants.
- The creative potential of mind mapping can be very
useful for brainstorming. Mind maps encourage people to
generate new ideas and create connections between
different ideas or concepts by presenting new ideas in a
natural, spontaneous, graphical, and non-linear manner.
- To use the mind mapping approach to brainstorming,
start with the basic problem as the center of the paper,
and then generate ideas/options to obtain at number of
different possible solutions.
- The Mind Map approach allows indivisuals to connect
concepts without forcing them into a specific framework.
The ideas often naturally flow in different directions,
hence generating a multiplied of options. Using color,
symbols, and images can help to stimulate imagination and
generate more creative solutions.

+ Reverse Brainstorming:
- It is the process of allowing answers to a negative
question to flow out without validation. These ideas are
then used to find problem spaces valueable, constraints
and solutions. The following are the illustrative
examples of reverse brainstorming.
1. Customer Needs: identifying customer needs by
brainstorming a negative question.
For example, what is the worst thing about this product?
This can be used to indetify valuable functions,
features, quality improvements and customer benefits.
2. Risks: Identifying risks with a question such as how
can this fail?
3. Solutions: Asking -- how could we make this problem
worse? This occasionally provides insight into a
solution.
4. Stratergy: Asking -- what is the worst thing our
competitor could do to us this year? This is a standard
way to identify stratergies.
5. Improvement: Generating ideas for improvement by
beginning with how you could make things worse. For
example, how could this process be slower and more
expensive?
6. Icebreaker: In some cases reverse brainstorming is
comical and fun and can serve as an icebreaker for
creative processes. For example, asking people to
brainstorm a product feature that would drive sales of
your product to zero.

+ Imagineering:
- Imagination is a powerful engine that can drive people
to bring their ideas, dreams, and desires to reality. The
imagination constructs stories that lead people to
create. Combining imagination with engineering knowledge
creates inventions which initially might seem fantastic.
- Imagineering is a combination of "imagination" and
"engineering". It brings art and science together to turn
fantasy into reality and dreams into "magic". Therefore,
"Imagineering" means transforming imagination into
concreteness.
- In other words, it is a procedure of changing ideas
into innovative products. The Disney organization’s
unique strength comes from the dynamic global team of
creative and technical professionals, building on the
company’s heritage of storytelling to pioneer new forms
of entertainment through technical innovations and
creativity.

+ Mind Mapping:
- A mind map is a visual representation or diagram of
information that has a central idea surrounded by
connected branches of associated topics.
- A mind map is a visual representation or diagram used
to:
 display connections between concepts.
  generate ideas, or
 classify information

- Mind mapping is a powerfull graphic technique which

provides a universal key to unlock the potential of the
brain. It harnesses the full range of cortical skills –
word, image, number, logic, rythm, color and spatial
awareness-allowing you the freedom to roam the infinite
expenses of your brain.
- A mind map or concept map is usually a multi
colored diagram displayed on a large sheet of paper,
containing words and images that are connected in various
ways. The information on mind map is arranged intuitively
according to the importance of the concepts.

+ Six Thinking Hats: 6TH

- It is a system developed by internationally respected
consultant Edward deBono, which describes a tool for
group discussion and indivisual thinking involving six
colored hats.
- De Bono identifies six distinct directions in which the
brain can be challenged. In each of these directions the
brain will identify and bring into conscious thought
certain aspects of issues being considered (e.g. gut
instinct, pessimistic judgement, neutral facts). None of
these directions is a completely natural way of thinking,
but rather how some of us already represent the results
of our thinking.
- Six distinct directions are identified and assigned a
color. The six directions are:
1. "Managing Blue" – what is the subject? what are we
thinking about? what is the goal? Can look at the big
picture.
2. "Information White" – considering purely what
information is available, what are the facts?
3. "Emotions Red" – intuitive or instinctive gut
reactions or statements of emotional feeling (but not any
justification).
4. "Discernment Black" – logic applied to identifying
reasons to be cautious and conservative. Practical,
realistic.
5. "Optimistic response Yellow" – logic applied to
identifying benefits, seeking harmony. Sees the brighter,
sunny side of situations.
6. "Creativity Green" – statements of provocation and
investigation, seeing where a thought goes. Thinks
creatively, outside the box.

1. White Hat thinking:

- This covers facts, figures, information needs and gaps.

2. Red Hat thinking:

- This covers intuition, feelings and emotions.
- The red hat allows the thinker to put forward an
intuition without any need to justify it.
- Usually feelings and intuition can only be introduced
into a discussion if they are supported by logic. Often
the feeling is genuine but the logic is questionable.
- The red hat gives full permission to a thinker to put
forward his or her feelings on the subject at the moment.

3. Black Hat thinking:

- This is the hat of judgement and caution. It is a most
valuable hat. It is not in any sense an inferior or
negative hat.
- The black hat is used to point out why a suggestion
does not fit the facts, the available experience, the
system in use, or the path that is being followed. The
black hat must always be logical.

4. Yellow Hat thinking:

- This is the logical positive - why something will work
and why it will offer benefits.
- It can be used in looking forward to the results of
some proposed action, but can also be used to find
something of value in what has already happened.

5. Green Hat thinking:

- This is the hat of creativity, alternatives, proposals,
what is interesting, provocations and changes.

6. Blue Hat thinking:

- This is the overview or process control hat. It looks
not at the subject itself but at the 'thinking' about the
subject.
Thinking about the thinking:
- The six hats represent six modes of thinking and are
aids to thinking rather than labels for thinking.
- The method promotes fuller input from more people. In
de Bono's words it 'separates ego from performance'.
- Everyone is able to contribute to the exploration
without denting egos: they are just using one hat or
rather.
- The six hats system encourages performance rather than
ego defence. People can contribute under any hat even
though they initially support the opposite view. You
don’t get stuck defending something you said previously.
- The key point is that a hat is a direction to think
rather than a label for thinking.
- The key theoretical reasons to use the Six Thinking
Hats are to:
1. encourage parallel thinking (i.e. being able to hold
different views while a decision is in the process of
being made).
2. encourage full-spectrum thinking (i.e. the full range
of possibilities).
3. separate ego from performance.(You are communicating
about an assignment: it’s not personal. This technique
keeps the personal out).

+ Decision Making Methods:

- To improve decision making skills one thing that is
worth bringing to your notice is that your critical
thinking capacity and decision making capability will
only improve if you make the most of your brain. And in
order to do so, you can apply either a direct or an
abstract approach.
- The following are a combination of both these
approaches, where some will directly improve your
decision-making skills and some will have an indirect
bearing upon them. You must practice each one on a daily
basis, in order to reap its full benefits.
1. Distraction
2. Learn New Languages
3. Exercise
4. Diet
5. Meditate
6. Social Life
7. Read
8. Explore

+ Force-field Analysis FFA:

- Force-field analysis is a development in social
science. It provides a framework for looking at the
factors (forces) that influence a situation, originally
social situations. It looks at forces that are either
driving movement toward a goal (helping forces) or
blocking movement toward a goal (hindering forces). The
principle, developed by Kurt Lewin, is a significant
contribution to the fields of social science, psychology,
social psychology, community psychology, communication,
organizational development, process management, and
change management.
- Kurt Lewin was an american social psychologist and
having contributed to science group dynamics and action
research, he is regarded one of the founders of modern
psychology. But Lewin is perhaps best-known for
developing Force-Field Analysis, using Force Field
Diagrams.
- According Kurt Lewin An issue is held in balance by the
interaction of two opposing sets of forces, those seeking
to promote change (driving forces) and those attempting
to maintain the status quo (restraining forces).
- Lewin veiwed organizations as system in which the
present situation was not a static pattern, but a dynamic
balance (equilibrium) of forces working in opposite
directions. In order for any change to occur, the driving
forces must exceed the restraing forces, thus shifting
the equilibrium.
- The Force Field Diagram is a model built on this idea
that forces - persons, habits, customs attitudes - both
drive and restrain change. It can be used at any level
(personal , project, organizational, network) to
visualize the forces that may work in favor and against
change initiatives. The diagram helps its user picture
the "tug-of-war" between forces around a given issue.
- The FFA is a method to:
 investigate the balance of power involeved in an
issue.
 identify the most important players (stakeholders)
and target groups for a compaign on the issues.
 identfiy opponents and allies
 identify how to influence each target group
How to conduct a FFA?
- Typically the following steps are taken
Step-1: Describe the current situation
Step-2: Describe the desired situation
Step-3: Identify where the current situation will go if
no actions is taken
Step-4: List all the forces driving change towards the
desired situation
Step-5: List all the forces resisting change towards the
desired situation
Step-6: Discuss and interrogate all of the forces: are
they valid? can they be changed? Which are the critical
ones?
Step-7: Allocate a score to each of the forces using a
numerical scale. e.g. 1 = extremely weak and 10 =
extremely strong.
Step-8: Chart the forces by listing (to strength scale)
the driving forces on the left and restraining forces on
the right.
Step-9: Determine whether change is viable and progress
can occur
Step-10: Discuss how the change can be affected by
decreasing the strength of the restraining forces or by
increasing the strength of driving forces.
Step-11: Keep in mind that increasing the driving forces
or decreasing the restraiing forces may increase or
decrease other forces or even create a new ones.

+ Capability Analysis:
- Capability analysis is a set of calculations used to
assess whether a system is statistically able to meet a
set of specifications or requirements. To complete the
calculations, a set of data is required, usually
generated by a control chart; however, data can be
collected specifically for this purpose.
- Specifications or requirements are the numerical values
within which the system is
expected to operate, that is, the minimum and maximum
acceptable values. Occasionally there is only one limit,
a maximum or minimum. Customers, engineers, or managers
usually set specifications.
- Specifications are numerical requirements, goals, aims,
or standards. It is important to remember that
specifications are not the same as control limits.
Control limits come from control charts and are based on
the data. Specifications are the numerical requirements
of the system.
- All methods of capability analysis require that the
data is statistically stable, with no special causes of
variation present. To assess whether the data is
statistically stable, a control chart should be
completed. If special causes exist, data from the system
will be changing. If capability analysis is performed, it
will show approximately what happened in the past, but
cannot be used to predict capability in the future. It
will provide only a snapshot of the process at best. If,
however, a system is stable, capability analysis shows
not only the ability of the system in the past, but also,
if the system remains stable, predicts the future
performance of the system.
- Capability analysis is an excellent tool to demonstrate
the extent of an improvement made to a process. It can
summarize a great deal of information simply, showing the
capability of a process, the extent of improvement
needed, and later the extent of the improvement achieved.
- Use the standard method for calculating capability
analysis when you can answer "yes" to all of the
following questions:
1. Is it necessary to understand how the system performs
in comparison to specification limits?
- Specifications or requirements must be available to
complete capability analysis. The system must also be
measured in the same way as the specifications, so a
direct comparison can be made.

2. Does the specification consist of an upper and lower

requirement?
- For processes with one-sided specifications, see the
article capability analysis for one-sided specifications.

3. Are no special causes of variation present?

- A system with special causes is unstable and constantly
changing. If capability analysis is performed under these
circumstances, it will be unreliable. Always construct a
control chart and check for special causes before
completing capability analysis.
4. Is the data in variables form?
- In order to complete the standard method for capability
analysis, the data must be in variables form, that is
measured data, such as time, length, weight, or distance.

5. Do the individual values form a normal distribution?

- In order to complete capability analysis using the
standard method, a normal distribution is required. Use a
histogram to check for normal distribution. If the
distribution is not normal, non-normal capability
analysis can be used.

6. Has the data been collected over a period of time?

- There are two ways to collect data for capability
analysis. The standard method is from a control chart,
where the data is collected over a period of time. If
data has been collected in this way, the standard method
for performing capability analysis is used.

+ Decision Analysis:
- Decision analysis is a quantitative evaluation of the
outcomes that result from a set of choices in a specific
clinical situation. With the exception of the word
quantitative, this definition is no different from the
clinical decision making process conducted by clinicians
every day. When faced with a particular problem,
clinicians develop an array of possible actions ranging
from doing nothing, to obtaining more information by
performing diagnostic tests, to recommending various
therapeutic strategies. This process is often implicit
and occurs in the context of internal algorithms and
heuristics (mental shortcuts) that the clinician has
developed and acquired over time.
- Decision analysis, by requiring a specific model
structure and assessment of the various likelihoods and
values of the outcomes, makes the decision process
explicit and much more amenable to examination,
discussion, and intellectual challenge.
- Decision models are often used as an analytic tool to
conduct cost-effectiveness analyses since decision
analysis methodology can be used to find the expected
value of most any outcome.
+ Choosing among alternatives:
- With the continuing proliferation of decision methods
and their variants, it is important to have an
understanding of their comparative value. Each of the
methods uses numeric techniques to help decision makers
choose among a discrete set of alternative decisions.
This is achieved on the basis of the impact of the
alternatives on certain criteria and thereby on the
overall utility of the decision maker(s). The difficulty
that always occurs when trying to compare decision
methods and choose the best one is that a paradox is
reached, i.e. What decision-making method should be used
to choose the best decision-making method?

- Current assessment:
Current assessment involves a better understanding of the
resources available and the strengths of the business.
The potential for the new products need to be understood.
Who are the customers and what do they want
Secondly, an assessment of the current resources needs to
be made. Does the current business have the land, labor,
management, and capital to meet the potential market?
Are there financial resources available to get the
proposed product to market? These questions as well as
others are designed to evaluate any new business or
enterprise.
- What alternatives to look at – feasibility and
planning. Once a current assessment is completed,
alternatives that match up with the assessment can be
evaluated.
- According to Joel Salatin there are several
factors that will help make the initial choices.
Alternatives should have low initial start-up cost and
high gross profit margin. They should have relatively low
maintenance requirements and high cash flow relative to
expenses.
- Alternatives should have a history of high success
rates among new enterprises and high demand/low supply in
the current marketplace.
- Lastly, alternatives should have high product
distinctiveness and be relatively size-neutral regarding
profit potential.
- Each of the potential alternatives should be evaluated
through a feasibility process. A feasibility study is
intended to look at the multiple alternatives and narrow
them down to one.
- The narrowing process should take the following into
consideration:
1. the alternative should match the goals and objectives
of the business.
2. the alternative should match the current assessment of
the strengths of the business.
3. market opportunities need to exist for the products
4. the product should be able to be made
efficiently and effectively

+ Qualitative Analysis:
Q. What is Qualitative Analysis?
- Qualitative analysis uses subjective judgment based on
non-quantifiable information, such as management
expertise, industry cycles, strength of research and
development and labor relations.
- Qualitative analysis contrasts with quantitative
analysis, which focuses on numbers found in reports such
as balance sheets. The two techniques, however, will
often be used together to examine a company's operations
and evaluate its potential as an investment opportunity.

Basics of Qualitative Analysis:

- The distinction between qualitative and quantitative
approaches is similar to the difference between human and
artificial intelligence.
- Quantitative analysis uses exact inputs such as profit
margins, debt ratios, earnings multiples, and the like.
These can be plugged into a computerized model to yield
an exact result, such as the fair value of a stock or a
forecast for earnings growth. Of course, for the time
being, a human has to write the program that crunches
these numbers, and that involves a fair degree of
subjective judgment. Once they are programmed, though,
computers can perform quantitative analysis in fractions
of a second, while it might take even the most gifted and
highly-trained humans minutes or hours.
- Qualitative analysis, on the other hand, deals with
intangible, inexact concerns that belong to the social
and experiential realm rather than the
mathematical one. This approach depends on the kind of
intelligence that machines (currently) lack, since things
like positive associations with a brand, management
trustworthiness, customer satisfaction, competitive
advantage and cultural shifts are difficult, arguably
impossible, to capture with numerical inputs.

Understanding People and Qualitative Analysis:

- Qualitative analysis can sound almost like
"listening to your gut," and indeed many qualitative
analysts would argue that gut feelings have their place
in the process. That does not mean, however, that it is
not a rigorous approach. Indeed, it can consume much more
time and energy than quantitative analysis.
- People are central to qualitative analysis. An investor
might start by getting to know a company's management,
including their educational and professional backgrounds.
One of the most important factors is their experience in
the industry. More abstractly, do they have a record of
hard work and prudent decision-making, or are they better
at knowing – or being related to – the right people?
Their reputations are also key: do their colleagues and
peers respect them? Their relationships with business
partners are also worth exploring since these can have a
direct impact on operations.

Company Culture and Qualitative Analysis:

The way employees view the company and its management is
important. Are they satisfied and motivated, or do they
resent their bosses? The rate of employee turnover can
indicate employees loyalty or lack thereof. What does
workplace culture say about the company? Overly
hierarchical offices promote intrigue and competition and
sap productive energy; a sleepy, unmotivated environment
can mean employees are mainly concerned with punching the
clock. The ideal is a vibrant, creative culture that
attracts top talent.

Gathering Data for Qualitative Analysis:

Admittedly, gathering data for qualitative analysis can
be difficult. Fortune 500 CEOs are not known for sitting
down with retail investors for a chat or showing them
around the corporate headquarters. In part, Warren
Buffett can use qualitative analysis so effectively
because people are willing to give him access to their
time and information. The rest of us have to sift through
news reports and companies filings to get a sense of
managers records, strategies and philosophies. The
management discussion and analysis (MD&A) section of a
company's 10-K filing and quarterly earnings conference
calls provide a window into strategies and communication
styles. Clear, transparent communication and coherent
strategies are useful. Buzzwords, evasiveness and
shorttermism, not so much.

Qualitative Analysis in Context:

Customers are the only group more crucial to a company's
success than management and employees since they are the
source of its revenue. Ironically, if a company places
customers' interests before shareholders, it may be a
better long-term investment. If feasible, it's a good
idea to try being a customer. Say you're considering
investing in an airline that has reined in costs, beat
earnings estimates in three consecutive quarters and
plans to buy back shares.
When you try to actually use the airline, however, you
find the website bug-ridden, the customer service
representatives cranky, the extra fees petty and your
fellow passengers resentful. The negative experience
tells you that the company has a lack of priority for its
customers and to be careful making an investment in the
airline. A company's business model and competitive
advantage are a vital component of qualitative analysis.
What gives the firm an enduring leg up over its rivals?
Has it invented a new technology that competitors will
find hard to replicate, or that has intellectual property
protection? Does it have a unique approach to solving a
problem for its customers? Is its brand globally
recognized—in a good way? Does its product have cultural
resonance or an element of nostalgia? Will there still be
a market for it in twenty years? If you can plausibly
imagine another company stepping in and doing what this
one does just a little bit better, then the barrier to
entry may be too low. Why will an un-established company
be the one to create or disrupt its chosen market, and
why won't it then be replaced in turn?
Real World Example of Qualitative Analysis:
The idea behind quantitative analysis is to measure
things; the idea behind qualitative analysis is to
understand them. The latter requires a holistic view and
a fact-based overarching narrative. Context is key. For
example, a CEO who dropped out of college would be a red
flag in some cases, but Mark Zuckerberg and Steve Jobs
are exceptions. Silicon Valley is, for better or worse, a
different beast. A look at McDonald's Corp's (MCD)
financials a few years ago would have told you nothing
about a looming backlash against, cheap, unhealthy food.
On the other hand, a purely qualitative approach is
vulnerable to distortion by blind spots, and personal
biases. Quantitative measures can act as a check on these
tendencies.

+ Establishing Objectives:
- The major outcome of strategic road-mapping and
strategic planning, after gathering all necessary
information, is the setting of goals for the organization
based on its vision and mission statement.
- A goal is a long-range aim for a specific period. It
must be specific and realistic. Long range goals set
through strategic planning are translated into activities
that will ensure reaching the goal through operational
planning.
- An objective is a specific step, a milestone, which
enables you to accomplish a goal. Setting objectives
involves a continuous process of research and decision
making. Knowledge of yourself and your unit is a vital
starting point in setting objectives.
- Strategic planning takes place at the highest levels;
other managers are involved with operational planning.
The first step in operational planning is defining
objectives – the result expected by the end of the budget
(or other designated) cycle.
- Setting right objectives is critical for effective
performance management. Such objectives as higher
profits, shareholder value, customer satisfaction may be
admirable, but they don't tell managers what to do. "They
fail to specify priorities and focus. Such objectives
don't map the journey ahead - the discovery of better
value and solutions for the customer.
- The objectives must be:
 be focused on a result, not an activity
 be consistent
 be specific
 be measurable
 be related to time
 be attainable

- MBO: Setting Objectives: In Management by Objective

(MBO) systems, objectives are written down for each level
of the organization, and individuals are given specific
aims and targets. Managers need to identify and set
objectives both for themselves, their units, and their
organizations. Ensure that you set the right objectives
if you want to achieve the right results.
- Applying Feedback Analysis: Undertake a feedback
analysis to compare actual results with expectations.
Whenever you take a decision or action, write down what
you expect to happen. Review results at regular
intervals, and compare them with expectations.
Use this feedback analysis as a guide to reinforce
strengths and eliminate weaknesses as well as for the
next round of setting objectives.

+ Assigning weight to objectives in order to make the

best decision:
- Relative Importance of Design Objectives - In the few
examples, design objectives have equal importance or
equal weight. However, this is generally not the case, as
some design objectives are more important that others. So
how do we decide on relative weight?
- Subjective values
- Client and Designer input
- Systematic Methods

- Systematic Weighting Method: Pairwise Comparison

- When there are many Design Objectives, it becomes more
difficult to assign weights. It is even difficult to use
systematic methods such as the pairwise comparison
method. In order to weight a large number of design
objectives, it is much
more effective to arrange them into hierarchical groups.
- To use this hierarchy for computing weighting factors,
we use a two-stage approach:
1. Perform a pairwise comparison (or other weighting
method of your choice) for each group and determine a
value, 'k' representing the weight of each category/D.O.
box within that group. Note: The total value for k for
that group must sum to a value of 1.
2. Establish the relative weight 'w' for each
category/D.O. box. Where the relative weight w is the
relative importance of that category/D.O. within its own
group (i.e. k), multiplied by the relative weight (w) of
the category in the next highest level from which it
comes.
- Finally, we need to Make a Decision! The is done by
"combining" the Evaluation Scale Scores with all the
Weighted Design Objectives into a single
"Decision Table".

+ Implementing Decisions:
Develop a plan for implementation:
- Step-by-step process or actions for solving the problem
- Communications strategy for notifying stakeholders
- Where important or necessary, inform those who
care for you and/or will be affected by the change.
Prepare them as necessary about your decision
- Resource identification/allocation
- Timeline for implementation

Monitoring Progress:
- Your implementation will only be successful if you are
monitoring your solution, the effects of it on resources
and stakeholders, your timeline, and your progress. As
you monitor your progress, if results are not what you
expect, review your options and alternatives.
- Whether or not you achieved your goals, it is important
to consider what you have learned from your experience:
about yourself, about what you consider important.
- Lastly, if you have done your best, you have this as
one measure of success.
- A logical and ordered process can help you to do this
by making sure that you address all of the
critical elements needed for a successful outcome.
- Working through this process systematically will reduce
the likelihood of overlooking important factors. Our
seven-step approach takes this into account:

1. Create a constructive environment

2. Investigate the situation in detail
3. Generate good alternatives
4. Explore your options
5. Select the best solution
6. Evaluate your plan
7. Communicate your decision, and take action.

Prioritize actions and assign roles (setting priorities

for taking action):
- To help you manage your team’s workload and hit
deadlines, here are 6 steps to prioritizing projects that
have a lot of moving parts.
1. Collect a list of all your tasks: Pull together
everything you could possibly consider getting done in a
day. Don’t worry about the order or the number of items
up front.

2. Identify urgent v/s important: The next step is to see

if you have any tasks that need immediate attention.
We’re talking about work that, if not completed by the
end of the day or in the next several hours, will have
serious negative consequences (missed client deadline;
missed publication or release deadlines, etc.). Check to
see if there are any high-priority dependencies that rely
on you finishing up a piece of work now.

3. Assess value: Next, look at your important work and

identify what carries the highest value to your business
and organization. As a general practice, you want to
recognize exactly which types of tasks have top priority
over the others.
For example, focus on client projects before internal
work; setting up the new CEO’s computer before re-
configuring the database; answering support tickets
before writing training materials, and so on. Another way
to assess value is to look at how many people are
impacted by your work. In general, the more people
involved or impacted, the higher the stakes.
4. Order tasks by estimated effort: If you have tasks
that seem to tie for priority standing, check their
estimates, and start on whichever one you think will take
the most effort to complete. Productivity experts suggest
the tactic of starting the lengthier task first. But, if
you feel like you can’t focus on your meatier projects
before you finish up the shorter task, then go with your
gut and do that. It can be motivating to check a small
task off the list before diving into deeper waters.

5. Be flexible and adaptable: Uncertainty and change are

given. Know that your priorities will change, and often
when you least expect them to. But—and here’s the trick—
you also want to stay focused on the tasks you’re
committed to completing.

6. Know when to cut: You probably can’t get to everything

on your list. After you prioritize your tasks and look at
your estimates, cut the remaining tasks from your list,
and focus on the priorities that you know you must and
can complete for the day. Then take a deep breath, dive
in and be ready for anything.

Follow-up at milestones:
- A milestone is a marker in a project that signifies a
change or stage in development.
Milestones are powerful components in project management
because they show key events and map forward movement in
your project plan.
- Milestones act as signposts through the course of your
project, helping ensure you stay on track. Without
project milestone tracking, you’re just monitoring tasks
and not necessarily following the right path in your
project.
- Milestones can do more than just show progress — they
can help you communicate what’s happening with your
project. TeamGantt features project milestones in its
free project management software, so it seamlessly syncs
with all of your gantt chart's moving parts.
- The difference between a task and a milestone You’re
not building a rocket here—you’re building a project
plan, and the components aren’t that complex. That said,
distinguishing between tasks and milestones can be
difficult on larger projects, or if the project you’re
managing just isn’t within the realm of your expertise
(yet).
- If you’ve ever been confused about what is (or isn't) a
milestone in your project plan, ask yourself these
questions:
1. Is this a task or a deliverable?
2. Will this impact the final deadline?
3. Is this an important moment in the project that will
indicate forward progress?
4. Does this need to be reviewed by stakeholders
5. Is this an event that impacts the project?

- Essentially, you want to make the most important events

of your project milestones so they can be easily seen and
mapped by the project team. Milestones are given
additional significance over tasks in a plan so the
project manager can track the tasks while the team and
stakeholders focus on forward progress.

- Project management milestone examples:

Milestones make it easier to keep projects on track by
calling out major events, dates, decisions, and
deliverables. Here are a few examples of project
milestones you might include in your plan:
- Start and end dates for project phases
- Key deliveries
- Client and stakeholder approvals
- Important meetings and presentations
- Key dates or outages that may impact your timeline

- Let’s dig a little deeper and explore 3 specific

examples of how using project milestones can benefit your
projects.
- Monitor deadlines: No plan is ever complete without a
list of deadlines! The best way to make them noticeable
is to use the project management milestones and
deliverables technique. What does this mean? Make the
deliverables project milestones.
- Why do this? Well, it’s no secret that not everyone
wants to pore over your beautiful project plan to find
key dates. Most people—your teammates included—want a
top-level view of key dates and events. Milestones are
great for this purpose because they’re called out in a
special way—usually with a diamond—in project plans.
- While you should list the tasks and effort leading up
to a project milestone, be sure to present the milestone
at the end of those tasks to signify a delivery, or even
a presentation of, the deliverable.
- Here’s an example of a project milestone that’s been
used to mark the publishing deadline for a blog post.
- Spotlight important dates: Are there days from now
until the end of your project that could impact your
project in some way? Maybe your team will need to be out
of the office for a mandatory training. Maybe there’s a
board meeting you’re expected to attend.
- It’s important to keep all of these important events in
mind when you’re planning project because they could
possibly impact your project schedule. So why not include
them as project milestones so you can track them all in
one place?
- In example the, this team’s off-site strat-op meeting
has been added to the project plan as a milestone so work
can be scheduled around it.

Identify potential project bottlenecks:

- Many projects rely on the work produced by external
teams or partners to make forward progress. If you’re not
tracking those external
factors somewhere, there’s a great chance you’ll forget
to follow-up on it.
- That’s why it’s important to list these deliverables as
project milestones if you’re working on a project that
depends on someone or something outside of your project.
Here’s an example of what that might look like for a
client approval.

How to create a project milestone:

- Creating milestones for your project plan can be
simple, especially with TeamGantt. Once you’ve mapped out
your overall process and plan with your team, you can
easily add tasks, identify gantt chart milestones, and
determine task owners. Adding a milestone (or converting
a task to a milestone) is very easy in TeamGantt.
- Project milestones are easy to create and even easier
to track because you’ve called out the most important
points in your project.
How to share project milestones with clients and
stakeholders:
- Want to give clients and stakeholders a high-level view
of the project? Simply follow these steps to share a PDF
of key project milestones in your gantt chart.

1. Filter your project by milestones: From your gantt

chart view, click the All Dates menu at the top of your
gantt chart, and select Only Milestones from the drop-
down.

2. Export your filtered project to a PDF file: Navigate

to your project's Menu, and select Print/Export PDF from
the drop-down. Customize your PDF settings, then click
View PDF to complete the export. From there, you can
download and/or print your PDF to share with clients and
stakeholders.

Hit every project milestone with ease:

- TeamGantt makes it easy to create, track, and
collaborate on all your project milestones so nothing
slips through the cracks.
- You’ll have all the features you need to ensure
projects finish on time and under budget—from drag and
drop simplicity and team collaboration to customizable
views and workload management.
- Best of all, it’s all wrapped up in a simple and
intuitive interface your whole team will love.