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CMCE Management Consultant Value Report

The Centre for Management Consulting Excellence (CMCE) held an event on 2 November to launch its latest report, on Management Consultant Value.

The report includes the findings of a study of 49 consulting projects and provides the following set of guidelines for achieving value from a management consultant:

  • Actions to take:
    • Define measures of value upfront.
    • Adopt multiple measures of value.
    • Review achievement of value regularly.
  • Actions to avoid:
    • Assuming that the choice of commercial arrangements will directly impact value.
    • Limiting the measures of value to ones that are easily measured.
    • Assuming that the choice of ways of working will directly influence the achievement of value.

In discussing the study findings and related guidelines, participants raised a number of important points about measures of value, commercial arrangements and the frequency of reviews.

On measures of value, participants considered that:

  • Focussing at the start of a consulting project on understanding and defining client expectations should help in understanding and defining expected value.
  • A management consultant should be prepared and able to influence a client to focus on outcomes and value. This differentiates a management consultant from a contractor.
  • There is likely to be a number of different client stakeholders involved in a project, who may have different expectations of the value to be provided by the management consultant. They all need to be taken into account in defining measures of value.

On commercial arrangements, participants commented that a focus solely on cost may compromise the delivery of value. Involving the client’s commercial team as early as possible in understanding the objectives of a project may help avoid this risk.

On the review process, participants highlighted the importance and impact of client relationships. If the consultant fails to build a good relationship with their client, it is more likely for the client to consider that value has not been delivered.

It was also considered that we should be more specific about the frequency of reviews of value. Aiming for more frequent reviews (with monthly being a minimum) may be a more helpful guideline.

Please use this link to request a copy of the Management Consultant Value report.

Tuesday 30th January 2024
Scales weighing a human figure against a bag of money