Dissecting Hypotheses: The PRICE Framework Explained PPT
This PPT slide, part of the 15-slide PRICE Hypothesis Generation Framework PowerPoint presentation, presents the PRICE framework, a structured approach for dissecting a hypothesis into 5 key components: Problems, Environment, Criteria, Restrictions, and Individual. Each component serves a distinct purpose in guiding strategic decision-making.
The central focus is on identifying the Problems to be solved. This is the initial step, emphasizing the importance of pinpointing 1-3 high-level questions that will steer the analysis. An example provided illustrates this by asking how to leverage channel advantages against competitors.
The Environment context is crucial, as it sets the stage for understanding the client or industry situation. This contextual information is necessary to frame the problem accurately.
Criteria for success are outlined next, stressing the need for specificity in defining these criteria. This ensures that the goals are clear and measurable, although it is noted that these criteria can evolve over time.
Restrictions on scope and hurdles are also highlighted. Keeping these at a high level, related to the original problem statement, is essential for maintaining focus. An example indicates that product return on capital employed (ROCE) should exceed a certain percentage, which serves as a tangible benchmark.
Lastly, the Individual component addresses the decision-makers involved. It’s important to recognize that different levels of decision-makers require varying degrees of detail. This understanding aids in tailoring the communication and analysis to meet the specific needs of each stakeholder.
Overall, the PRICE framework offers a comprehensive method for breaking down complex hypotheses into manageable parts, facilitating clearer strategic discussions and decision-making.
This slide is part of the PRICE Hypothesis Generation Framework PowerPoint presentation.
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