As I've mentioned in a previous posting, the old maxim "use the right tool for the job" is king here.
When you are sitting there...hungry...looking at that can of Spaghetti-O's on the counter, and trying to figure out how to get it open...the optimal solution is "can opener". In the past, I've used scissors and a large Chef's knife (with less than optimum results).
I'm currently nursing a large and deep cut in my left index finger - as a result of using a 13,000 RPM angle grinder to try to shape a very small piece of plastic (I couldn't find my Dremel). Proof positive that the right tool for the job is a key predictor of success.
Hopefully this won't come across sounding like one of those quizzes you see in magazines by the supermarket checkout counter...but consider the following questions:
a) How much effort is required to appropriately define the problem as well as requirements for the solution...up front.
b) How much effort will it take to manage the crowdsourcing process?
c) How much calendar time will be expended if the crowdsourcing process fails to yield a useful solution?
d) What is the impact on the business if crowdsourcing doesn't work for this particular problem?
e) What is the impact on the business of using internal people instead of crowdsourcing? What is the "opportunity cost" of using internal people?
f) Can you define "pull the plug" points for a crowdsourcing project? For example, how many parties express interest in working on your problem?
g) Can you establish some preliminary indicators that allow you to predict success likelihood for the final solution?
h) How do you decide between "pull the plug" vs. "go back and try to remedy the situation" if the leading indicators aren't looking good?
i) Can you define "success"? Do you have criteria in place for judging and testing solutions?
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