#110 - Understanding "Confidence Determines Speed vs. Quality" for Analysts
Lisema Matsietsi CDFA, PD(SA), M.Inst.D, MCom
2x Author || Charperson of Board || Independent Trustee || Founder & Managing Director: Being An Analyst || Senior Advisor and Chartered Development Finance Analyst ||
Words of Gratitude
Editors Note by Lisema Matsietsi
The "Confidence Determines Speed vs. Quality" framework is an invaluable asset for analysts and teams to strike a balance between prompt delivery and the quality of work. It guides the decision on when to prioritize speed over quality by assessing confidence levels in both the problem and the solution. This framework encourages a systematic approach to decision-making, particularly in uncertain scenarios, ensuring effective resource allocation and maintaining the integrity of the analysis. However, it requires teams to critically evaluate their confidence levels and be aware of potential risks, such as overemphasizing speed or overestimating certainty in complex situations. In essence, this framework aids teams in making well-informed trade-offs, aligning their efforts with stakeholder expectations, and delivering timely and dependable insights. I'm confident you'll appreciate this edition. Let's reconvene next week for another newsletter.
Understanding "Confidence Determines Speed vs. Quality" for Analysts
Have you often faced situations where you must choose between delivering something quickly or ensuring that it’s of the highest quality? Are you looking for a principle that can guide you in navigating this situation in the future? If you answered “Yes” to the above, there is a decision-making tool called “Confidence Determines Speed vs. Quality”, which is a helpful framework that guides us in making these trade-offs based on how confident we are about the problem we’re solving and the solution we’re building. This article will enlighten you about this decision-making tool... Read More
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