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How do you evaluate the feasibility and impact of different solutions?

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Creative problem solving (CPS) is a skill that helps you generate and implement innovative solutions to complex challenges. But how do you know which solution is the best one for your situation? How do you assess the pros and cons of different options and their potential outcomes? In this article, you will learn how to evaluate the feasibility and impact of different solutions using some practical tools and criteria.

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Tanaka Denise Choto BSc(Hons), LLM, MCSI

Capital Markets & Wealth Management Compliance Advisory

1 Define your criteria

Before you compare different solutions, you need to define what criteria you will use to evaluate them. Criteria are the standards or measures that you use to judge the quality, effectiveness, or suitability of a solution. They can be based on your goals, requirements, constraints, values, or preferences. For example, some common criteria are cost, time, resources, risks, benefits, alignment, sustainability, and stakeholder satisfaction. You can use a simple table or matrix to list your criteria and assign them weights or priorities according to their importance.

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Tanaka Denise Choto BSc(Hons), LLM, MCSI

Capital Markets & Wealth Management Compliance Advisory
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To fully determine criteria, an in-depth understanding of the problem is necessary. What are the pain points? How have previous ‘solutions’ faired. Are stakeholders on-board? Is this a priority problem?

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2 Use a scoring system

One way to evaluate the feasibility and impact of different solutions is to use a scoring system. A scoring system is a method of assigning numerical values or ratings to each solution based on how well they meet your criteria. You can use a scale of 1 to 5, where 1 means very low and 5 means very high, or any other range that suits your needs. You can then multiply the scores by the weights or priorities of the criteria and add them up to get a total score for each solution. The solution with the highest score is the most feasible and impactful one.

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3 Consider the pros and cons

Another way to evaluate the feasibility and impact of different solutions is to consider the pros and cons of each option. Pros are the positive aspects or advantages of a solution, while cons are the negative aspects or disadvantages. You can use a simple list or a SWOT analysis (strengths, weaknesses, opportunities, threats) to identify the pros and cons of each solution. You can then compare and contrast the pros and cons of different solutions and see which one has the most benefits and the least drawbacks.

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4 Test your assumptions

A third way to evaluate the feasibility and impact of different solutions is to test your assumptions. Assumptions are the beliefs or expectations that you have about a solution or its consequences. They can be based on your experience, knowledge, intuition, or evidence. However, they can also be wrong, incomplete, or outdated, and lead to poor decisions. Therefore, you need to test your assumptions by asking questions, seeking feedback, conducting experiments, or collecting data. You can then validate or invalidate your assumptions and adjust your solutions accordingly.

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5 Seek multiple perspectives

A fourth way to evaluate the feasibility and impact of different solutions is to seek multiple perspectives. Multiple perspectives are the views or opinions of different people or groups who are involved in or affected by the problem or the solution. They can provide you with new insights, ideas, information, or feedback that can help you improve your solutions. You can seek multiple perspectives by consulting experts, stakeholders, users, customers, or peers. You can also use tools such as brainstorming, surveys, interviews, focus groups, or role-playing to elicit multiple perspectives.

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Tanaka Denise Choto BSc(Hons), LLM, MCSI

Capital Markets & Wealth Management Compliance Advisory
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As a D&I enthusiast I prefer the term “Diverse perspectives”…diversity increases innovation, creativity and strategic thinking because teams of people from different backgrounds can draw upon their unique experiences and a wider range of knowledge to spark new/innovative ideas. You need people close to the problem and others who are far removed and can provide a new perspective by seeing the bigger picture instead of being deep in the weeds.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Tanaka Denise Choto BSc(Hons), LLM, MCSI

Capital Markets & Wealth Management Compliance Advisory
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Post-implementation To evaluate impact, a continuous review period should commence post-implementation (What’s working well? What needs are not being addressed?) to confirm if the solution is working as intended. A time-frame should be put in place (perhaps after 6months) for an in-depth analysis that evaluates against the KPIs noted during the initial evaluation of the the solution (pre-implementation).

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How do you evaluate the feasibility and impact of different solutions?

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2

3

4

5

6

1 Define your criteria

2 Use a scoring system

3 Consider the pros and cons

4 Test your assumptions

5 Seek multiple perspectives

6 Here’s what else to consider

Creative Problem Solving

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How do you evaluate the feasibility and impact of different solutions?

1

2

3

4

5

6

1 Define your criteria

2 Use a scoring system

3 Consider the pros and cons

4 Test your assumptions

5 Seek multiple perspectives

6 Here’s what else to consider

Creative Problem Solving

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