How to Write a Business Project Solution Plan
One of the functions of project plans and business case papers is the identification and suggestion of various solutions to different business problems. However, there is a certain difference between the project plans, which offer a single solution to a problem, and business case documents, which cover several complete business solutions. In general, business has more than one solution to the problem; therefore, a business case document offers more benefits. It is a responsibility of a business owner to opt for the most adequate and effective solution; after that, it is time for developing a project plan to determine the action steps to be taken.
Identification of the Problem and Subsequent Analysis
What is needed to identify a problem? You should start with cause-and-effect analysis to determine the reason for it and specify the factors which contribute to a problem. A solution plan template suggests starting with a written description doe with maximal clarity. When the problem is stated, it is time to include all details about the involved people, place, and time when it occurred. Thorough understanding of the problem is possible only if everything is clear. The next stage of individual and group problem solving is identification and description of how business processes, equipment, and attitudes contribute to the problem as intangible and tangible factors. For instance, the cause of the problem with high employee turnover can be a failure in employing people with appropriate qualifications, while the contributing factors can include improper HR training, communication issues, and inefficiency of skill testing.
Brainstorming of Applicable Solutions
What does business solutions mean? There are various options for business solutions in business. At the stage of drafting a project solution plan, it is necessary to do the identification and analysis of all options. A good idea is to start from brainstorming; thus, you will have the business problem and opportunity statement and a list of possible solutions. Each solution will address one contributing factor. It is recommendable to provide a detailed description of every option. For instance, in the presented case, high employee turnover can have a number of possible solutions: providing extra trainings to HRs, establishing an HR department, specifying the responsibilities of all employees, and other options. Alternative solutions include introduction of testing procedures of computerized skills, creating a communication protocol for managers of the departments and HRs, and so on.
Analysis and Prioritizing
How to solve business problems effectively? It is recommendable to view every solution separately and conduct a cost-benefit analysis for it with further prioritization in accordance with success and cost-efficiency in solving the problem. Each solution will have cost-benefit analysis conducted with a full estimate of the incurred costs, projections of intangible and financial benefits, and an estimation of time needed for the solution to pay off. It can happen that the solution with the best cost-efficiency will not be implemented at once. It is necessary to take into account the nature of the problem and its long-term impact on the profitability and efficiency of the business.
Development of a Project Plan
The development of a solution plan for the business project has a final stage of opting for one solution and designing a project plan. A good solution plan implies having project objectives, a schedule and an appropriate timeframe for the project, and a list of deliverables needed for achievement of the project goals. The project plan also incorporates additional supporting papers, in particular, requirements to the resources and personnel, a strategy of project communication, and a plan of identification and management of the risks.
Five Steps for Business Problem Solving
It is evident that there should be an individual approach to each business problem; however, all dilemmas have similar features and they can be resolved with the use of techniques common for the situations of such kind. The most helpful advice in business problem definition and solution is to use a methodical approach which can prevent the need to apply to crisis management options for solving the problems. It is natural to face problems while running a business; and a 5 step problem solving process can be a great solution in each situation which implies searching for a well thought-out decision.
Identification of the Problem
It frequently happens that although it is evident that something is wrong in business, it is challenging to specify the exact problem. There are numerous methods of problem solving, but you may need extra time to identify the problem first. Try to give it a complete description and get a picture of the factors which interrupt the business operation flow.
Description of the Causes
You know the common business problems and solutions, but you have to identify the reasons for your specific problem. You know which problem you have, but you are at a loss about the causes. For instance, you have an employee who does not follow the procedures, and you can be surprised to know that the reason for it is his offence about the overlooked abilities and talents. If you know the cause of the problem, you can easily address it. Similarly, constant late shipping may have the reason of failures in the machinery. When you know the cause, it offers solutions.
Brainstorming of the Possible Solutions
The next out of 5 steps of problem solving is brainstorming. It is wrong to get the first idea and stick to it. Take into account all opportunities and then choose one. For instance, it is possible to fire the employee who causes problems, but his promotion can be more beneficial for the company. For example, you see a monthly cash-flow problem and you decide that your require payments demanded on all outstanding accounts; however, you can also note that you can easily resolve the problem is you just renegotiate the due date for the bill with a vendor.
Implementation of a Single Solution
Opt for only one solution to solve the problem. Choose the one which seems to be the most effective and will not to cause further difficulties. Analyze all solutions and prefer only one. With no second thoughts, follow the made decision.
Monitoring of the Solution Implementation
Do not forget to follow-up on the effects of the chosen solution. Monitor its effect on the difficulties and measure its worth. In case you decide that the solution was chosen wrong, it is never too late to change the decision.