The protocol is an appraoch to problem solving for Physics that was taught to me by my mentor. It works for most word problems in general. 

10 steps

1. read the problem

2. create a meanful diagram

3. determine the variables

4. assign values to variables (what you are given and what you know, and what you are looking for)
5. Determine what you are looking for

6. choose equation (UPDATE: or physics principle that applies to situation)

7. do your algebra (to solve for the variable you are looking for)

8. substitue values into equation

9. complete the math

10 check sig figs and box or circle answer

Units are important and do count! You can use units and dimensional analysis to check your work also.

UPDATE:

Here are some more resources that help students solve problems.

Physics Study Tips

http://www.oberlin.edu/physics/dstyer/SolvingProblems.html

http://www.physics.hmc.edu/howto/problemsolving.html