projecteverest

[Proposed Experiment]: SoCon Fiji January 2019 - Buka Stove Sales.

by
aruna avanthika
aruna avanthika | 4 months ago | in Fiji - Social Consulting

Lean Phase: Solution

Assumption:

By observing and analysing the default rates and demographic data we will be able to construct better risk mitigation system and better determine the payment plan components.

Time Box: 3 1/2 months. 

Success Metric:

This experiment is measuring the percentage of borrowers who default on payments. This will be tested with 30 sales of the Buka stove.

 

Green Light-  Success if 15% or lower default on loan.

Success point - To understand why the 15% or less defaulted, and how to prevent this default in the future.

Orange Light- When 30% or more default then to optimise, look at sales pitch and ways to analyse information.

Failure Point - Failure if greater than 40% of participants default on loan.

Red Light- Failure Protocol is to follow the risk protocol to understand why certain individuals defaulted, and thus understand how to better the current risk prevention methods.

 

Experiment build:

  1. Purchase the necessary amount of Buka stoves from the Fuel Team.

  2. Record the purchases in the financial model throughout the process.

  3. Provide at least 40 individuals with credit for a Buka stove, across at least five different villages. The following like contains the SOP for Payment Plan Procedure -https://docs.google.com/document/d/1o_CxiSKD7...Nt1NgDki_c/edit

  4. When making sales, take down the relevant data including the demographic information as per the CRM, and analyse this data over the payment plan period.

  5. After the 6 weeks of repayment, determine if success or failure for the first 2 repayments.

edited on 1st January 2019, 22:01 by Jess Riley
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