Perception Versus Reality: Are You Getting Enough Value From Your Consultants

Data and Analytics, Managed Services, Operating Efficiency, People and Change, Prof IT, Social Insights Lab, Strategy and Advisory


For the study, Forbes Insights surveyed 169 senior executives based in the U.S. and U.K., with a combination of various C-suite and director positions, and conducted in-depth interviews with a handful of executives who successfully manage relationships with consultants. While at the surface, most consulting projects are considered successful, a deeper analysis reveals cracks in this pretty picture:


  • Only half of respondents used the same consultancy again, despite the fact that 92% of executives say the consulting project was successful. This exposes a serious dichotomy between expressed satisfaction and willingness to rehire the same firm.
  • Defining and managing the project and its scope was among the most significant challenges for executives. Although the outset of the project is critical to success, just over half (58%) of executives worked with consulting firms on the project's strategic direction before starting work.
  • Change management capabilities are lacking, as many consulting firms deliver a PowerPoint presentation and leave the execution to the client. The survey revealed that communicating with internal teams and management is among the top five challenges for consulting firms.
  • Companies don't know how to define success for strategic projects, as is revealed by their preferred method of payment. Most companies (59%) prefer to pay without taking results into consideration, whether based on a flat fee or hourly charges.


Download the full report to view the results of the study.

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