Problem Solving, the McKinsey Way
The McKinsey Mind explains how McKinsey & Co. use a fact-based method of problem solving based on the following steps. The following is my interpretation of these steps:
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What’s the problem? Identifying and isolating the core problem, which is usually based on a competitive, organizational, financial, or operational need.
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Use a mutually exclusive, collectively exhaustive (MECE) approach to identify non-overlapping boundaries of the problem.
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Break the problem down using logic trees (Visio would be great here) to show relations between components of the problem.
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What’s probably the solution? Suggest a hypothesis for a solution to the problem, which will help guide your data gathering and analysis.
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Analyze the data behind the problem. Determine what analysis is needed to prove the hypothesis, and just as important, determine what you do not need to do.
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Gather the data required for the analysis.
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Analyze the data to prove or disprove the hypothesis. If the facts disprove your hypothesis, change your hypothesis. In other words, let the data analysis drive the solution.
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Present the solution. If the proposed solution is bought off by whomever you are presenting it to, then the work of implementing the solution starts.
