by Chris McEwan, co-founder WhoKnowsAbout
Despite the scale of the Management Consulting market – about $250 billion of sales annually – corporate purchasing practices in this sector are surprisingly casual. Managers often rely on their relationship with the few suppliers they know well or select consultants based on brand attributes. Some companies have established a panel of preferred consulting firms whose overall capabilities they have assessed, but this approach ignores capability variations across the consultants and teams provided by the panel firm. It can also have the perverse effect of limiting the range of expertise available to the manager.
Unsurprisingly, results are mixed. Research shows that less than 10 % of consulting projects fully achieve their objectives and that the average project scores only about six on a ten-point scale of success. The specific capability of the consultants involved, which is identified as a key determinant of project success, generally becomes clear only when the project is well underway.
WhoKnowsAbout has been designed to help large organisations quickly identify the management consultants who have the specific experience and expertise to assist with the issue at hand.
We have ranked more than 500,000 consultants, from the large global brands to local boutiques and independents, against 12,000 topic and industry knowledge areas. A simple search interface allows users to quickly find potential suppliers and efficiently develop a high quality ‘shortlist’
Let us know what you think.
Originally published on December 12, 2016 in LinkedIn Pulse.