Estimating Meeting Waste in the US: A PM Interview Framework

Acing the interview process is crucial for aspiring Product Managers (PMs) aiming for top tech companies like those in the FAANG group. One common interview theme revolves around business efficiency and productivity. This blog post tackles a typical question related to operational productivity: “Estimate total time wasted in meetings in the US.” This inquiry assesses a candidate’s ability to analyze productivity concerns using quantitative reasoning. We’ll leverage structured frameworks, as recommended by the book ‘Decode and Conquer: Answers to Product Management Interviews,’ to tackle this question methodically.

Detailed Guide on Framework Application

Choosing the Framework

For estimation questions, the Fermi Estimation framework is a popular choice. It allows candidates to break down large, complex questions into smaller, manageable components and make educated guesses that are logically sound.

Fermi Estimation Steps

1. Identify the components of the problem.
2. Estimate each component separately.
3. Combine the estimations to reach a total.

Applying the Fermi Estimation

Let’s decompose the question into specific components:

1. The average number of workers in the US who attend meetings.
2. The average duration and frequency of meetings per week.
3. The percentage of time considered wasted in meetings.

Informed Assumptions

According to the Bureau of Labor Statistics, there are approximately 160 million working people in the US. Assume that 50% have a job where meetings are common – that’s 80 million people.

Average meeting duration is often quoted at around 1 hour, with professionals attending roughly 5 meetings per week.

Surveys have reported that employees find over 30% of meeting time to be unproductive.

Calculation

1. 80 million workers * 5 meetings per week * 1 hour per meeting = 400 million hours spent in meetings weekly.
2. 400 million hours * 30% = 120 million hours wasted in meetings weekly.
3. To annualize, multiply by the number of working weeks (assume 50): 120 million hours * 50 weeks = 6 billion hours wasted annually.

Adding Credibility with Checks

Use data from credible surveys, industry reports, and official statistics wherever possible to validate assumptions. For example, verify the average number of meetings attended with a workplace survey or an industry productivity report.

Communicating Effectively

When delivering your estimation:

1. Speak clearly and confidently.
2. Walk the interviewer through your thought process.
3. Justify your assumptions with logic or references to common knowledge/statistics.
4. Show openness to alternate methods or additional data that could refine your estimate.

Conclusion

Tackling estimation questions like determining the total time wasted in meetings in the US requires a structured approach. The Fermi Estimation framework allows candidates to break down the problem and use informed assumptions to achieve a plausible answer. Remember, it’s about your thought process and analytical abilities rather than getting the exact number. Practice with real-world examples, use credible data to make your assumptions realistic, and communicate your approach effectively. With this strategy, you will demonstrate your ability to handle one of the many multifaceted issues that PMs face.