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Many companies use management consultants for very different tasks and topics such as the development of a strategy, organizational change, new business models or products or the implementation of cost reduction measures. Such projects are usually of high strategic relevance, as they have a significant impact on the future success of a company. The selection of and collaboration with the right management consultants can therefore be crucial for this success.

Optimization of costs and quality of consulting assignments by measuring the performance and quality of consulting companies

Knowledge of performance and quality is used before, during or after projects carried out with external service providers to optimize selection decisions, manage projects and their target achievement, optimize return on consulting, and optimize consulting costs (consulting spend) and the supplier portfolio.

Optimize the selection of consulants

When selecting a management consultant for a specific project, it is crucial to identify the provider or providers with the greatest relevant expertise and with the most experience. A consulting firm's track record and proven past project performance of a consultant can serve as a basis for a sound decision.

Managing projects and their goal achievement

Continuous or regular measurement of satisfaction with and performance of consultants currently assigned to projects allows early identification of risks and whether the consultant's work still matches with the client's expectations.

Optimize the return on consulting

Due to the high expenses for external consultants and their influence on the success of projects, it is crucial that consultants deliver on the promised added value and that the benefits of using a consultant also exceed the costs of a consultant. The measurement of achieved project goals and generated quantitative or qualitative benefits from the projects provides the necessary transparency about the project performance.

Optimize consulting costs (consulting spend) and the supplier portfolio

The daily rates and total fees offered by consulting providers with comparable services and performance are often considerably different. Therefore, it is crucial to know which provider offers the best price-performance ratio. With similar performance and quality, providers can be used at lower costs, thus optimizing expenditures for external consulting - while maintaining the same level of quality. Likewise, by means of performance measurement of the supplier portfolio, more performance can be demanded or optimized with regard to price-performance.

Key figures for measuring consulting services and the performance of consulting assignments

Benefits (= added value of consulting) and quality are the two most essential key figures for measuring the project-specific services of a consulting company. Behind these two aggregated metrics stands a whole series of sub-criteria that measure project success and service quality of a consultant. These performance measurement metrics may be different or at least vary depending on the type of project (e.g., strategy, IT, or efficiency improvement projects) and type of service (e.g., IT consulting, HR consulting, marketing consulting). However, applying consistent performance measurement metrics is a prerequisite to be able to compare and benchmark different consulting companies and projects. Despite the differences and differentiation between project types and service types, the appropriate interpretation of performance data is crucial.

Excellent performance on consultingsearcher®.

For the premium portal consultingsearcher®, quality and performance of the consulting companies listed on the portal are a main concern. Quality assurance of the consulting firms and their competencies is ensured by a positioning and performance audit, which summarizes the most important key figures for clients who look out for consultants. A company can use the cap (cardea audited performance)) certificate as a guidance to whether an outstanding performance can be expected. In addition to the basic quality assessment, the certificate distinguishes consulting firms that have a proven track record of high client satisfaction and project success rates. This proof of performance is provided by systematic client ratings as part of the cap certification process.

Cardea AG

Author Since:  December 4, 2020

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