Last week we posted on the 6 vital elements that a consultant brings to the table. It might be worthwhile to explore each in greater detail. The first element discussed was “Value”.
How do you measure the value gained by a consulting engagement?
To achieve consulting results consistently and reliably you have to measure, monitor and manage the successes being achieved at all stages of the process.
Ideally, every consulting project should have measurable outputs. We at VieNnI are acutely aware that, we need to be able to demonstrate value, not simply promise it.
We see ourselves as generating three different types of value:
• Value from effectiveness: We use it when the inputs into a project are uncertain but the output can be measured. Quite often, in our experience, multiple yet apparently disconnected inputs come flowing in, but one thing that the customer is certain about, is the out-put. A 40% increase in yield, decrease in contamination, successful audit, confidence in error management etc. And we always measure up to the challenge.
• Value from efficiency: This happens when the output of a project remains uncertain, but where the work carried out by us can be measured. It is typically about getting things done faster, with lesser resources, perhaps preparation for the inspection, make sure that N batches are produced in specific period, process optimization, turnaround time etc.
• Value from economy: When we simply undertake or make routine technical tasks/processes less expensive, there is value for economy and this is the easiest to measure! We always come up with solutions that are less expensive to execute, cost effective and give a great Return on Investment (RoI)
For all of us at ViennI, the rules are simple: The criteria set for success should be shared by as many stakeholders as possible. It is the medium-term, practical impact of a project that matters, not it’s short-term ‘wow’ factor. The most important thing, is getting results – if these can be demonstrated, as effectiveness, efficiency or cost…….you can measure the “Value”. When you seek to build in tactical elements rather than engaging with just strategic inputs you can be certain we walk the entire distance. Reach us to reach you at 080 – 23506562 or vienni.india@gmail.com
How do you measure the value gained by a consulting engagement?
To achieve consulting results consistently and reliably you have to measure, monitor and manage the successes being achieved at all stages of the process.
Ideally, every consulting project should have measurable outputs. We at VieNnI are acutely aware that, we need to be able to demonstrate value, not simply promise it.
We see ourselves as generating three different types of value:
• Value from effectiveness: We use it when the inputs into a project are uncertain but the output can be measured. Quite often, in our experience, multiple yet apparently disconnected inputs come flowing in, but one thing that the customer is certain about, is the out-put. A 40% increase in yield, decrease in contamination, successful audit, confidence in error management etc. And we always measure up to the challenge.
• Value from efficiency: This happens when the output of a project remains uncertain, but where the work carried out by us can be measured. It is typically about getting things done faster, with lesser resources, perhaps preparation for the inspection, make sure that N batches are produced in specific period, process optimization, turnaround time etc.
• Value from economy: When we simply undertake or make routine technical tasks/processes less expensive, there is value for economy and this is the easiest to measure! We always come up with solutions that are less expensive to execute, cost effective and give a great Return on Investment (RoI)
For all of us at ViennI, the rules are simple: The criteria set for success should be shared by as many stakeholders as possible. It is the medium-term, practical impact of a project that matters, not it’s short-term ‘wow’ factor. The most important thing, is getting results – if these can be demonstrated, as effectiveness, efficiency or cost…….you can measure the “Value”. When you seek to build in tactical elements rather than engaging with just strategic inputs you can be certain we walk the entire distance. Reach us to reach you at 080 – 23506562 or vienni.india@gmail.com
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