Yardstick Report (Problem – Solution Report)
What is Yardstick Report?
A yardstick report is one that looks at multiple solutions to any one problem. Basically, the yardstick is the way to measure several solutions to see which is best fit for a specific problem when there is more than one option. Eventually, one solution is recommended based upon the certainty and how it best fits into the criteria.
Following problems can be solved with this report related to:
- Business Model
- Marketing & Branding
- Business Development
- Financial Management
- Employee Performance and Organizational Culture
- Productivity of the team
- Supply Chain Management and many more...
Characteristics of the Report
Problem Definition
Define the problem statement precisely at the beginning.
Alternate solution’s description
Identify the possible solutions with description of each possible solution including detailed analysis of each one of them.
Establish criteria
Provide the criteria to pick the best solution from the possible solutions.
Optimum Solution
Finding the best possible solution from the different alternatives will be chosen based on the standard criteria chosen after proper risk assessment.