I like Matt Appleman's approch to this.
Matt Appleman on Crank length This is a webpage with a discussion and different measurement guidelines.
It is a bit of a read and it can come down to individule preferences. I am 5'10 but with shorter legs and I tried 165mm cranks and find that they work well for me. And I want to follow his guidence for my wfe who is (Is she on here? Does she know my screen name?) 150cm depepeniding on stocking feet or with shoes. There coding it in metric should be safe.
I also like Dylan Johnson on this topic.
A video from a performance standpoit for racers.