Guesstimates & Problem-Solving Techniques in Consulting
Course Objective
This course trains PGDM students in consulting-style problem structuring, guesstimation, mental math, and business reasoning. Students will learn how to approach ambiguous, data-scarce questions using logical decomposition and estimation techniques. It prepares students for case interviews, consulting projects, and real-world decision-making under pressure.
Learning Outcomes
- Use the MECE principle to structure complex problems.
- Apply top-down, bottom-up, and back-of-envelope logic to guesstimates.
- Improve mental math speed and accuracy for business estimation.
- Confidently solve market sizing, operational, and financial estimation cases.
- Present assumptions, logic, and results clearly in interviews and client settings.
Guesstimates & Problem-Solving Techniques in Consulting Syllabus T30
| Session No. | Topics | Tool/Reading/Activity | Skill Focus |
|---|---|---|---|
| 1 | Introduction to Guesstimates in Consulting | Icebreaker + Estimation Examples | Problem Structuring |
| 2 | MECE Framework & Logic Tree Building | Mobile Phone Market Breakdown | Logical Thinking |
| 3 | Market Sizing: Top-Down B2C Estimation | Ice Cream Market in India | Layered Breakdown |
| 4 | Market Sizing: Bottom-Up B2B Estimation | POS Machines in Cafes | Unit-Level Modeling |
| 5 | Revenue Estimation Cases | E-commerce Platform Revenue | Price x Volume |
| 6 | Cost and Breakeven Guesstimates | Cloud Kitchen Example | Cost Structures |
| 7 | Demand & Supply Estimation | Ola/Uber Driver Demand | Behavioral Assumptions |
| 8 | Capacity Estimation Cases | Airport Throughput | Time-based Modeling |
| 9 | Geographic & Spatial Estimation | Petrol Pumps in India | Area-Based Logic |
| 10 | People-Based Estimation | Doctors in Jaipur | Demographic Anchoring |
| 11 | Time-Based Estimation | How many flights per day? | Throughput Insight |
| 12 | Multi-Approach Estimation Validation | 3 ways to estimate bakery revenue | Cross-Validation |
| 13 | Handling Curveballs: Uncertain Cases | Live Case with Change Midway | Adaptability |
| 14 | Using Public Data and Anchors | Wikipedia, LinkedIn, NSE | Smart Referencing |
| 15 | Applied Business Frameworks + Estimation | Market Entry + Guesstimate | Holistic Thinking |
| 16 | Quick Mental Math Practice | Speed Rounds | Calculation Fluency |
| 17 | Live Guesstimate Practice – Peer Interviews | Timed Pairs | Presentation Under Pressure |
| 18 | Live Guesstimate Practice – Faculty Panel | Graded Rounds | Applied Confidence |
| 19 | Capstone Simulation – Solve + Present | Case Day: Real Business Scenario | Strategic Application |
| 20 | Feedback, Recap, and Career Integration | Final Review & Lessons Learned | Consulting Readiness |
Textbook & Resources
Primary Resource:
- Case Interview Secrets by Victor Cheng
- The Guesstimation Toolkit (Instructor Handbook)
Supplementary:
- RocketBlocks, PrepLounge, IGotAnOffer, Practice Casebooks