With one, you can solve problems quickly and effectively.
Without one, your solutions may be ineffective, or you'll get stuck and do nothing, with sometimes painful consequences.
For example, consider this problem statement: "We have to find a way of disciplining of people who do substandard work." This doesn't allow you the opportunity of discovering the real reasons for under-performance.
The CATWOE checklist provides a powerful reminder to look at many elements that may contribute to the problem, and to expand your thinking around it.
Quite often, what may seem to be a single problem turns out to be a whole series of problems.
Going back to our example, substandard work could be caused by insufficient skills, but excessive workloads could also be contributing, as could excessively short lead times and poor motivation.
Having good, strong problem solving skills can make a huge difference to your career.
Problems are at the center of what many people do at work every day.
At this stage, it's also important to ensure that you look at the issue from a variety of perspectives.
If you commit yourself too early, you can end up with a problem statement that's really a solution instead.