In the earlier segments, you learnt about the first three steps of the four-step problem-solving approach. The subject-matter expert explained in detail the first three steps of problem-solving to successfully frame a problem, analyse it and find the possible solutions.

In this video, he will introduce you to the fourth and last step of the problem-solving process, that is, to implement the solution. Let’s get started!

$$/$$

That was an insightful video. Your four-step problem-solving approach is now complete. Let’s quickly recap the key takeaways from this segment:

Once you have chosen a feasible solution, it is time for its implementation. The process of implementation involves the following four steps:
- Define the action plan.
- This involves the following steps:
  - Lay out the tasks and subtasks
  - Delegate responsibilities to people
  - Assess the committed timelines
  - Review the KPIs and metrics to be examined
  - Assess the risks and their mitigation strategies
- Determine the right KPIs (key performance indicators) and metrics
- Create POCs (Proofs of Concept)
- Monitor and review the progress of the action plan
Now, let’s look at some key differences between KPI and metrics:

KPIs	Metrics
KPIs assess how effective you are in achieving your desired business objectives and goals.	Metrics track the status of a specific business process.
KPIs are of strategic relevance to an organisation.	Metrics are only relevant to the department or team that is directly impacted by it.

As explained previously by our subject-matter expert, use the S.M.A.R.T framework to ensure that you are relying on the right KPIs and metrics to track the progress of your solution.
The different kinds of KPIs and metrics are as follows:
- Qualitative and quantitative: Qualitative indicators represent status, while quantitative indicators are tangible and measurable.
- Leading and lagging indicators: Leading indicators focus more on future outcomes and events, whereas lagging indicators focus on past performances such as the revenue in the previous quarter.
- External and internal indicators: External indicators are linked to factors that exist outside the organisation; for example, the population of a country. Internal indicators, on the other hand, are associated with factors within the organisation such as the total number of employees.
- Input, process and output: Input metrics refers to the measures that are linked with the different inputs in your business such as the raw materials. Process metrics measure the performance of the intermediate steps involved in your business, and lastly, output metrics measure the final outcome.
- Financial, operational and timing indicators: Financial metrics and KPIs are related to money, operational metrics and KPIs, to processes, and the timing metrics or KPIs deal with the timelines of the projects.

In the next segment, you will be acquainted with an approach that is recommended for the successful implementation of a solution.

Additional Resource:

Refer to this link for a better understanding of the differences between KPIs and Metrics
A Detailed Guide on Implementation of Solutions