Successful Independent Consulting

SEPTEMBER 16, 2017

Benchmark so you know your rate is reasonable. A seasoned practitioner will be more effective and efficient and will therefore be a better “buy.” The tactics in this article will help if you bill by the hour or by the day. There are other ways to bill for your talent and expertise but those will be covered in another article.

Consulting 236

Consulting Real Estate Policies Operations 236

Harvard Business

MAY 17, 2018

They discovered that one country was 16% percent more efficient than the average of the rest of the countries: they got the same results in 71 fewer person-hours per month and with 40 fewer people involved each month.

Culture 139

Culture Strategy Strategy& Strategy 139

Effective Managers

APRIL 11, 2024

This global benchmark is particularly crucial in an increasingly interconnected world where clients expect consistency and excellence regardless of geographical boundaries. This structured process aids consultants in managing projects more efficiently and effectively, leading to more predictable and successful outcomes.

Guidelines 130

Guidelines Consulting Ethics Benchmarking 130

Harvard Business

JUNE 30, 2016

Traditional ZBB implementations focus almost exclusively on simple SG&A , in part because SG&A benchmark data is far more readily attainable than are relevant data from the core functions of comparable companies. We believe the exact opposite to be true. Most ZBB implementations are not ambitious enough.

Company 111

Company Benchmarking Travel Policies 111

Epicflow

SEPTEMBER 19, 2022

Project management maturity (or PMM) reflects a company’s ability to manage projects efficiently. They usually describe levels indicating the current state of an organization in terms of project management efficiency and propose recommendations on how to proceed to more sophisticated levels. . Let’s examine some of them. .

Management 130

Management Metrics Resources Efficiency 130

Epicflow

MARCH 22, 2024

In this article, we’re delving into the most essential aspects of efficient project management that can ensure successful and timely delivery, and also dwelling on the importance of project data for risk management in single-project and multi-project environments. So, what do you need for an efficient risk analysis?

Data 130

Data Risk Analysis Management Analysis 130

Markovitz Consulting

SEPTEMBER 26, 2017

If meeting takt time is not an issue—for example, in closing the books at the end of the month— then measure and benchmark the time it takes to perform those tasks and challenge the team to figure out how to do them faster. Start treating offices errors and mistakes as real defects. Obsess over quality.

Engineering 133

Engineering Benchmarking Meeting Case Study 133

Tom Spencer

OCTOBER 13, 2023

Profitability ratios Net interest margin (NIM) Efficiency ratio Return on assets (ROA) Fee income to total income Return on equity (ROE) Dividend payout ratio Total shareholder return (TSR) 1.1 All else being equal, a higher ROA is better as it indicates stronger profitability and more efficient asset utilization.

Metrics 88

Metrics Banking Balance Sheet Efficiency 88

Harvard Business

JUNE 7, 2017

One traditional insurer, for instance, shifted from updating its quotes every several days to every 15 minutes by simply automating the processes that collect benchmark pricing data. Structured data analytics.

Company 134

Company Telecommunications Data Retail 134

Tom Spencer

SEPTEMBER 6, 2021

Although it is rarely obvious what the ‘common good’ actually means, social programmes need to establish their priorities on another basis than mere financial efficiency. Benchmarking creates additional complexity for public sector consulting, which private firms do not need to face. Different stakeholders. Final thoughts.

Government 88

Government Consulting Policies Benchmarking 88

Harvard Business

MARCH 13, 2018

For instance, Doug shared some new concepts for transforming an insurmountable checklist of requirements into manageable benchmarks and priorities, which he had developed after conducting a comprehensive review of his company’s operations. He also shared supply discipline systems that reduced common inefficiencies.

Operations 125

Operations Exercises Conference System 125

Harvard Business

MARCH 21, 2017

When energy-efficient ventilation systems are used, the cost would be $1–$10 per person per year. We also benchmarked the cognitive function scores from our study to the thousands of people who have taken the test in other settings, and we paired the percentile increase in scores to salary data from the Bureau of Labor Statistics.

Productivity 131

Productivity Research Chemicals Energy 131

Harvard Business

SEPTEMBER 11, 2017

Benchmarks for Success Measure progress toward the goal. For those companies that navigate this transformation, the payoff will be substantial—not just in terms of new growth opportunities, but also in terms of new efficiencies. Testing and Learning Identify—and actively communicate and learn from—short-term wins.

Talent 108

Talent How To Benchmarking Operations 108

BCG

MAY 9, 2016

BCG’s Retail-Banking Excellence benchmarking study (REBEX) profiles the operational and digital practices and performance of 20 of the world’s leading retail banks, a group of 40 institutions chosen for their size and the strength of their capabilities. At the heart of the benchmarking are core operational metrics.

Operations 40

Operations Retail Banking Benchmarking 40

Tom Spencer

OCTOBER 6, 2023

The interest rate set by the central bank serves as a benchmark or reference rate for banks. The interest rates at which banks borrow and lend money are influenced by the interest rates established by the central bank. Banks typically adjust their lending rates based on the central bank’s policy rate.

Banking 88

Banking Balance Sheet Operations Financial 88

PM Alliance

SEPTEMBER 9, 2022

Internal benchmarking can help reveal inefficiencies and even identify workers who would benefit from additional vendor support or targeted training. Would gaining deeper knowledge in particular disciplines enable people to carry out activities more efficiently? 1: Compare current task duration estimates against past efforts.

Data 73

Data Methodologies Training Training 73

Harvard Business

JANUARY 31, 2017

Within the core business, digital technologies are fundamentally changing the way Honeywell creates and captures value for its industrial customers through new efficiencies and services that unlock new value. more likely to use data to benchmark customers and advise them on how to realize greater value. Digital leaders are 2.3x

Company 70

Company Operations Data Benchmarking 70

Tom Spencer

AUGUST 18, 2023

However, larger businesses often face challenges that hinder the efficacy and efficiency of their governance systems, impeding their ability to adapt, innovate, and thrive. This is the realm of efficient and effective governance, characterized by fresh perspectives, unwavering resilience, and a commitment to excellence.

Government 78

Government Agile Data Culture 78

Harvard Business

SEPTEMBER 29, 2016

Helping mentors pass along their expertise more effectively and helping mentees learn more efficiently. Newcomers can learn more efficiently by keeping “learning logs” that chronicle their experiences and through scheduled feedback sessions with their mentors.

Development 70

Development Education Engineering Benchmarking 70

BCG

MAY 9, 2016

That is, they must develop digital and data capabilities that radically simplify their businesses while dramatically improving the customer experience through greater efficiency, quality, and speed. Banks that hope to prevail must urgently pursue digital simplicity.

Banking 40

Banking Retail Benchmarking Report 40

Epicflow

OCTOBER 16, 2023

Such flexibility not only allows for real-time optimization but also leads to more efficient resource management. This system serves as a single source of truth for decision-making and is informed by real-time buffer consumption, guiding efficient resource allocation. 2] The TOC contribution to Healthcare , Eli Schragenheim (2016). [3]

Resources 130

Resources System Tools Management 130

Harvard Business

NOVEMBER 30, 2017

This isn’t just about setting benchmarks and monitoring performance; it’s about soliciting their ideas, investing in their capabilities, and building trust to create a preferred relationship.

McKinsey 72

McKinsey Turnaround Pharmaceuticals Benchmarking 72

Tom Spencer

SEPTEMBER 14, 2019

However, when I compared this with benchmarks (i.e. Jason Oh is a management consultant at Novantas with expertise in scaling profitability and improving business efficiency for financial institutions. When I checked the data, it showed the trend that I was expecting. So I investigated this anomaly. Image: Pexels.

Data 60

Data How To Banking System 60

Comatch

NOVEMBER 18, 2021

Benchmarking: When projects require extensive back-office or benchmarking figures, it may make sense to rely on a more traditional consulting firm. Independent consultants aren’t likely to have benchmark data on hand. When you want to use your budget more efficiently. Part of business is facing budget constraints.

Consulting 52

Consulting Management How To Benchmarking 52

Seth Godin Blog

JULY 29, 2018

Quietly, over the last thirty years, engineering has become dramatically more efficient and effective. The internet shows engineers the state of the art immediately, so everyone is working off the latest benchmark. Several factors are at work: Computer aided design and engineering means that smaller teams can do more, faster.

Engineering 30

Engineering Chemicals Benchmarking Travel 30

Harvard Business

MAY 5, 2016

Cable companies enviously and despairingly benchmark Netflix and Amazon to learn how they quasi-autonomously cultivate subscribers and binge viewers. Commitment to efficient value creation invariably inspires more thoughtful investment in the quality — not quantity — of staff.

Enterprise 70

Enterprise Metrics Retail Productivity 70

Peter Stark

JANUARY 20, 2018

When we look at scores from organizations in our Best of the Best Benchmark though, this number jumps to 75%. After all, they work most closely with your processes and have the best ideas about how to create efficiency. Does your equipment support accurate and efficient work? So, why the difference? Ask team members for input.

Efficiency 33

Efficiency Benchmarking Resources Survey 33

Leadership Vision Consulting

FEBRUARY 19, 2014

Those core values provide a benchmark for what is true. The shared strength of Belief raised self-awareness and team-awareness and led to a better team environment, a higher level of conversation, a greater productivity and efficiency as the whole team. These beliefs, or values, guide decisions and influence relationships and work.

Benchmarking 46

Benchmarking Efficiency Productivity Leadership 46

Organizational Talent Consulting

NOVEMBER 7, 2022

A recent CEO benchmarking report found that nearly one in five CEOs surveyed identified holding others accountable as their greatest weakness and almost as many struggled with letting go of underperformers. It doesn't just happen. Why employee accountability matters. The best kind of accountability on a team is peer-to-peer.

Culture 59

Culture Survey Policies Benchmarking 59

Harvard Business

OCTOBER 17, 2017

For example, in the 1990s, leading businesses like 3M adopted concepts like eco-efficiency, focusing on saving and making money through the better management of materials, energy and waste. Today, we see growing interest in new business benchmarks and in potential breakthrough materials and forms of energy.

Resources 71

Resources Energy Financial Benchmarking 71

Tom Spencer

JUNE 23, 2023

Division X productivity is decreasing), methods for solving the problem (e.g., … by benchmarking industry best practices), or proposed solutions (e.g., … by employing more staff). Collaborate with the client to help identify the right types of data for them and how to gather it most efficiently.

Analysis 78

Analysis Data Development Consulting 78

LSA Global

MARCH 8, 2022

This fast growing financial services firm wanted to double revenue and increase efficiency by 50% while maintaining high levels of client satisfaction and employee engagement. Assess Change Readiness Baseline Assess change readiness of key stakeholders to benchmark and baseline for training and navigating change. Job Relevance.

Change Management 7

Change Management Financial Management Training 7

Harvard Business

JUNE 3, 2016

In the apparel industry, the benchmark for inventory accuracy is somewhere between 60% and 70%. As the technology is able to identify products in such an efficient manner, inventory can be updated in real time and the data can be used to inform targeted replenishment and merchandizing decisions.

Tools 70

Tools Construction System Retail 70

Peter Stark

SEPTEMBER 15, 2019

Our 2019 Employee Opinion Survey Benchmarks are telling us that communication continues to be a challenge for leaders. Communicating only by e-mail, while efficient, can come across as impersonal, and may increase employee alienation. It makes me wonder what she really thinks about me.” . The post Communication.

Benchmarking 32

Benchmarking Survey Efficiency Policies 32

1 to 1

JUNE 13, 2024

The chief customer officer of ClearAction Continuum reveals four — just four — CX ROI benchmarks to prioritize during the “ Four Gold CX ROI Metrics LinkedIn webinar hosted by the European Customer Experience Organization (ECXO) earlier this month. They already know focusing on too many goals at once means there’s no focus at all.

ROI 32

ROI Metrics Sales Benchmarking 32

Harvard Business

JULY 14, 2017

Or it could be indirectly, as Opower does in giving people benchmarking data on energy usage to foster conservation and efficiency. This could be directly, as Sephora does with its online communities using beauty tips as currencies.

Intellectual Property 71

Intellectual Property Strategy Strategy& Strategy 71

Peter Stark

APRIL 14, 2019

This is not a surprise to us and mirrors our benchmark findings as well. After all, they work most closely with your processes and have the best ideas about how to create efficiency. One leader we know ran a contest with her team to see which employee could come up with the best idea to improve efficiency.

System 37

System Education Efficiency Resources 37