Approach: 3-Step Problem Solving Process
MINT applies the shown 3-Step Problem Solving Process to ensure our clients get robust real world decision support to real world problems.
1. Simplification:
In order to get a Real World Problem into a format that can be efficiently handled by our Engineering Method Tool Box (data processing, statistics, operations research and mathematical modelling), a simplification is required. Often this step is really the key as it requires thorough understanding of the problem at hand, and sometimes close interaction with the client to get this step correct.
2. Modelling:
Once the Real World Problem has been simplified, we are left with the Problem Essence. Now we choose appropriate tools from our Engineering Method Tool Box, enabling us to construct an appropriate solution to the Problem Essence.
Our preferred format is Excel spreadsheets built by simple building blocks and transparent logic, formula solutions and iterations to avoid circular references and limited use of Visual Basic/macros.
3. Imperfections Acknowledgements:
A model is, and should be, a simplification of reality. Characteristics of the Theoretical Solution is evaluated against the Real World Problem to ensure that the main characteristics and properties are captured. Also, shortcomings and aspects not handled by the model solution are pinpointed.