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Performance Measurement

Substantial benefits are realized by client organizations measuring the performance of consulting firms engaged

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance Rating

 

 

 

 

 

 

 

 

 

 

Client organizations use consultants for a variety of Project topics and managerial challenges such as developing corporate or divisional strategies, developing organizational structures, creating new business models or products or performing efficiency improvement programs. Such projects are of high strategic relevance because they have an impact on the future growth and stability  of an organization. Selecting and engaging the right consultants contributes to a great extent to securing the future of an organization.

 

Optimization of cost and quality through information on performance of consultants

Collecting data associated with the performance and quality of a consulting firm engaged (before, during and after a project is conducted with external consultants) helps to

  • optimize selection processes,
  • manage consulting projects and consultants effectively,
  • achieve predefined project goals,
  • optimize return on consulting,
  • optimize consulting spend,
  • manage the portfolio of professional services providers.

 

Performance Measurement

 

Optimization of selection processes

When selecting a consulting firm for a specific project initiative, looking first for the right set of team expertise, skills and industry knowledge is essential. A consultant's track record and proven past performance are important deciding factors.

 

Management of consulting projects

Measuring the satisfaction with and the performance of consultants who are performing a project helps identify projects risks in a timely manner and continuously assess the performance of the consultants. Performance measurement is a tool to help client organizations understand, manage, and improve what consultants do.

 

Optimization of the return on consulting

Since engaging consultants for a project means investing quite an amount of money and since a consultant's influence on a project's success is high, it is crucial that the consultants deliver promised value and the value of a consulting project exceeds projects costs. Performance measurement is an overall project management system involving detection and prevention aimed at achieving conformance of project outcomes to the client's requirements. Performance measures provide information about project goal achievement and qualitative and quantitative project benefits and therefore about the performance of projects in client organizations.

 

Optimization of consulting spend and portfolio of professional services providers

The fees consulting firms charge vary widely, depending on expertise, demand, project type and scope and other factors. Therefore, client organizations may want to seek out the consulting firms with the best price-performance ratio. Comparing price and performance of consultants helps identify the most cost-efficient consulting engagement and therefore optimize consulting spend. In addition, performance measurement is knowing the performance of each consulting firm over the past and therefore managing and optimizing the supplier portfolio and negotiations of fees.

 

Measurements used to assess the performance of consultants

Performance measures used to assess the project specific performance of a consultant can be grouped into one of the following most important categories: Benefits (= value of consulting) and quality. These categories can be broken down into a wide variety of subcriteria to measure performance and Quality of a consultant's work. These performance measures may vary depending on the type of a project (e.g. strategy, IT or cost cutting projects) and the type of consulting services (e.g. IT consulting, HR consulting, marketing consulting). Performance data and measures must be applied consistently though in order to allow comparisons and benchmarks among projects and across an organization. Performance measures must always be tied to a goal or an objective and be used to make intelligent decisions about what to do.

 

Delivering service that matters: Performance of consultants assessed on consultingsearcher®

For a premium portal like consultingsearcher®, quality and accuracy of information about consulting firms are crucial. All data and content on consultingsearcher® is maintained by experts. Each consulting firm which applies for a consultingsearcher® membership undergoes a procedure which defines and verifies its core areas of expertise and market positioning (i.e. value proposition).

Quality is additionally assessed by applying a set of key figures which include the most important indicators for clients to assess a consulting firm's ability to perform a project.

Ensuring information accuracy and credibility is important and already a key differentiator from other services. consultingsearcher® goes beyond this stage: Consulting firms which are awarded with our quality certificate - cap (cardea audited performance) - have demonstrated that they are able to serve clients with quality and distinction, making a measurable and attributable impact.

 

 

 

 

 

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