challenges of execution & mgt consult assignment

CHRIS EGBU ACA,MBA,CMC,MIMC,MITDCHRIS EGBU ACA,MBA,CMC,MIMC,MITD 11

Challenges in the Execution and Management of a Consultancy Assignment.

Presenter: CHRIS EGBU ACA,MBA,CMC,MIMC,MITD

Newways [email protected]


INTRODUCTIONINTRODUCTIONnn Consultants earn income by Consultants earn income by

mobilisingmobilising the right people, skills, the right people, skills, and technologies to help clients and technologies to help clients improve their performance, improve their performance, leveraging deep industry and leveraging deep industry and business process expertise, broad business process expertise, broad global resources and a proven global resources and a proven track record in executing their track record in executing their assignment.assignment.


INTRODUCTIONINTRODUCTIONnn Consultants works with clients Consultants works with clients

across various industry segments across various industry segments such as financial services, such as financial services, government, oil and gas, utilities, government, oil and gas, utilities, manufacturing, pharmaceuticals, manufacturing, pharmaceuticals, technology, media and technology, media and telecommunications. The telecommunications. The opportunities are endless, but opportunities are endless, but with inherent challenges.with inherent challenges.

Power of the group


CHALLENGESCHALLENGESnn There are lots of There are lots of

challenges Consultants challenges Consultants face in the execution of face in the execution of their assignments. their assignments. However Nigeria has However Nigeria has more challenges as a more challenges as a developing economy.developing economy.


CHALLENGESCHALLENGES

1.1. Think of the most frustrating Think of the most frustrating challenges you face in your practice challenges you face in your practice in a bid to deliver on your in a bid to deliver on your assignments.assignments.nn Strong resistance towards the changeStrong resistance towards the changenn Dealing with political battles in the Dealing with political battles in the

organizationorganizationnn Working long hours Working long hours nn Traveling to client locations oftenTraveling to client locations often


Most frustrating challengesMost frustrating challenges

nn Excessive nonExcessive non--billable hours billable hours nn Keeping up with regulatory Keeping up with regulatory

changes changes nn The struggle to make your The struggle to make your

practice more profitable without practice more profitable without compromising on quality of compromising on quality of assignment.assignment.

nn Cumbersome file transfers Cumbersome file transfers between you and clients between you and clients


Most frustrating challengesMost frustrating challengesnn Project Objectives/Scope are Project Objectives/Scope are

UnclearUnclearnn Not enough time spent on Not enough time spent on

planning and structuring the planning and structuring the project/assignmentproject/assignment

nn Lack of active sponsorshipLack of active sponsorshipnn The bookkeeping mess your The bookkeeping mess your

clients make clients make


Most frustrating challengesMost frustrating challenges

nn Use of technology that is not proven yetUse of technology that is not proven yetnn Project team poorly defined, roles & Project team poorly defined, roles &

responsibilities are vagueresponsibilities are vaguenn Lack of endLack of end--user/local country user/local country

involvementinvolvementnn The project is too big and too ambitiousThe project is too big and too ambitiousnn Unrealistic time pressuresUnrealistic time pressures


Challenges Consultants Challenges Consultants faceface

nn These challenges These challenges Consultants face can also be Consultants face can also be classified under:classified under:

–– EnvironmentalEnvironmental–– OrganizationalOrganizational–– CulturalCultural–– Individual challengesIndividual challenges


Challenges Consultants faceChallenges Consultants face

nnChallenges Challenges Consultants Consultants face are face are surmountablesurmountable


EnvironmentalEnvironmental Challenges

nn Workforce diversityWorkforce diversitynn GlobalizationGlobalizationnn Internet revolutionInternet revolutionnn LegislationLegislationnn Evolving work and family Evolving work and family

rolesroles-- egeg day care in work day care in work placeplace

nn Skill ShortagesSkill Shortages


OrganizationalOrganizational Challenges

nn Relative lack of resources Relative lack of resources egegVirtual infrastructureVirtual infrastructure

nn Gatekeepers and BlockersGatekeepers and Blockersnn The Client do not implementThe Client do not implementnn Cash flow/ Slow paymentCash flow/ Slow paymentnn Quality, distinctive capabilitiesQuality, distinctive capabilitiesnn Downsizing and threatsDownsizing and threatsnn Small business growthSmall business growthnn TechnologyTechnology


CulturalCultural Challenges

nn Basic assumptions and Basic assumptions and beliefs shared by members beliefs shared by members of an organizationof an organization……–– rules, norms rules, norms egeg where where

nothing get done without nothing get done without bribebribe

–– intimidationintimidation


CulturalCultural Challenges

nn political agendapolitical agenda--when politics when politics emerge suddenlyemerge suddenly

nn travel & quality of life travel & quality of life nn behaviors & dominant valuesbehaviors & dominant valuesnn philosophyphilosophy-- wait for your turn wait for your turn

syndromesyndromenn Corruption climateCorruption climate


Corruption climateCorruption climate

nn Some organization is a breeding Some organization is a breeding ground for corruption where as others ground for corruption where as others have zero tolerance for corruption. have zero tolerance for corruption. For instance FIFA have recently For instance FIFA have recently shown zero tolerance for corruption.shown zero tolerance for corruption.

nn FIFA executive committee members FIFA executive committee members Amos Amos AdamuAdamu and and ReynaldReynald TemariiTemariihave been banned from voting in the have been banned from voting in the 2018 and 2022 World Cup hosting 2018 and 2022 World Cup hosting ballot.ballot.


Corruption climateCorruption climate

nn AdamuAdamu was banned from football activity for was banned from football activity for three years and three years and TemariiTemarii for one year over for one year over claims they asked for money in exchange for claims they asked for money in exchange for World Cup votes. World Cup votes.

nn This clearly shows that FIFA do not tolerate This clearly shows that FIFA do not tolerate climate of corruption. What if FIFA tolerates climate of corruption. What if FIFA tolerates corruption and you have to report to Amos corruption and you have to report to Amos AdamuAdamu in course of your consulting? This in course of your consulting? This will certainly be a challenge.will certainly be a challenge.


IndividualIndividual Challenges

nn No response/No return callsNo response/No return callsnn Relegation to lower levelsRelegation to lower levelsnn Delivery ChallengesDelivery Challenges-- over promisingover promisingnn Undermining the projectUndermining the project-- when the when the

buyer is the saboteurbuyer is the saboteurnn Abrupt client change and traumaAbrupt client change and trauma

–– 1st response 1st response -- get the emergency vehicle get the emergency vehicle rollingrolling

–– 2nd response 2nd response -- get our self organize firstget our self organize first


IndividualIndividual Challenges

n Ethical dilemmas n Lip service

supportn Illness &

disability– Insurance tactics– Business tactics

n Productivityn Matching People

and Organizationn Empowermentn Brain drainn Lack of Industry

experience


COPING WITH THE COPING WITH THE CHALLENGESCHALLENGES

nn The challenges and learning opportunities The challenges and learning opportunities vary at different career levels, as a team vary at different career levels, as a team leader, leader, –– you have to dedicate you have to dedicate time to plan ahead;time to plan ahead;–– you also have to face pressure from project you also have to face pressure from project

management to meet the milestones in a projectmanagement to meet the milestones in a project’’s s schedule.schedule.

–– In some cases you have to have plan A & B or In some cases you have to have plan A & B or scenario planning. (suggested sequence of events)scenario planning. (suggested sequence of events)



nn You will have to You will have to make tough calls to pushmake tough calls to push your your team to work even harder while managing their team to work even harder while managing their morale. morale.

nn Some other challenges we face are conflict Some other challenges we face are conflict management and negotiation between project management and negotiation between project teams and between teams and clients. teams and between teams and clients.

nn Hence we have to Hence we have to develop our negotiation skillsdevelop our negotiation skillsby reading and attending relevant workshops.by reading and attending relevant workshops.



nn Another challenge comes from communicating Another challenge comes from communicating a complex solution to the client in laymen a complex solution to the client in laymen terms, to enable them to understand the terms, to enable them to understand the rationale behind the designed solution, as well rationale behind the designed solution, as well as the benefits that its implementation would as the benefits that its implementation would bring about.bring about.

nn As a Team Leader, As a Team Leader, Communication skillsCommunication skills are are especially important as we work closely with especially important as we work closely with clients and other fellow project team clients and other fellow project team members.members.



nn Every company has its own unique Every company has its own unique working processes, so even when working processes, so even when you possess expertise for a certain you possess expertise for a certain industry, there is still a industry, there is still a need to need to learn each clientlearn each client’’s business s business operations within a short timeoperations within a short time and and come up with solutions that would come up with solutions that would help them improve. The learning help them improve. The learning curve is very steep.curve is very steep.



nn Consulting Firms should support that Consulting Firms should support that learning process by providing a welllearning process by providing a well--developed developed training training programmeprogramme that that builds upon each consultantbuilds upon each consultant’’s existing s existing expertise.expertise.

nn A rigorous set of learning experiences, A rigorous set of learning experiences, that hones skills in the areas of:that hones skills in the areas of:


Set of learning Set of learning experiencesexperiences§ A rigorous set of A rigorous set of

learning learning experiences, that experiences, that hones skills in the hones skills in the areas of:areas of:–– solution delivery, solution delivery, –– technology acumen, technology acumen, –– quality, quality, –– methodology,methodology,

– value creation,– business processes,– leadership and

culture, – and relationship

building.



nn The firmThe firm’’s ability to s ability to recruit quality staff recruit quality staff at the rate needed to match growth in at the rate needed to match growth in client demand is very important. client demand is very important.

nn The second and interThe second and inter--related issue is the related issue is the degree to which a firm can reign in staff degree to which a firm can reign in staff attrition. The more staff that are lost, the attrition. The more staff that are lost, the more new hires are needed simply to more new hires are needed simply to maintain the existing headcount without maintain the existing headcount without much Value creation at inception. much Value creation at inception.



nn ““The UK market as a whole is experiencing The UK market as a whole is experiencing a median rate of staff loss of 15% to 20% a median rate of staff loss of 15% to 20% per yearper year””.( Tony .( Tony RestellRestell, 2007), 2007)

n Consultants want to secure better remuneration. Once applied across the firm this can prove very expensive – and easily negated by a competitor’s counter-move.

n 51% of firms taking measures to improve retention in last 12 months have raised remuneration.


CONCLUSION

n Consulting is known to be a demanding job. Being a consultant, you are regarded as an expert in a particular field; both the firm and clients have high expectations of you to deliver a well-designed solution.

n Faced with daunting challenges; a consultant must stay focused and have the determination to keep going. How ?


CONCLUSION -keep going. How ?

n Analyze your clients.– Which clients are most valuable? Are there any you’d

be better off losing?n Analyze your services.

– How profitable is each service? Can you improve the profitability of your services by working smartly and adding value?

n Analyze your staff.– Gauge your staff’s performance. Can you improve your

return on your investments in your staff?


CONCLUSION

n Consulting demands will really train and develop an individual, fast! It is definitely not for the weak-hearted.

n At the end of the day, you must know that you will face a lot of challenges, and a lot of hard work and time needs to be dedicated to the project in order to meet the tight schedule.

n However, the extensive exposure to different kinds of tasks and challenges is something that no other job can offer.


CONCLUSION

n So, if you are looking for variety of work, if you thrive on challenges and have the capacity to adapt to a fluid environment, then Consulting is the right place for you.

n Thanks for Listening


REFERENCES:

n Everlyn Lee. “Challenges of management consulting - building a career with Accenture” Fri, 07/11/2008<community.jobscentral.com.sg/node/360>

n Tony Restell, “ Retention Report 2007: A key challenge for the Management Consultancy sector “ < Top-Consultant.com>

n Terrie Nolinske, Meeting Present and Emerging Strategic Human Resource Challenges” Prentice Hall 2004

n Alan Weiss, Great Consulting Challenges and How to surmount Them Jossey- Bass/Pfeiffer Publishers

challenges of execution & mgt consult assignment

Documents

clients chris egbu aca

surmountablechris egbu

firstchris egbu aca

mitd newways

nigeria hasmore challenges

butwith inherent challenges

tolerateclimate of corruption

corruption climaten