Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

consulting project can be most effectively managed-by the Consulting firm itself or by supplier personnel. Related to this is the consideration of who will actually

image text in transcribed
consulting project can be most effectively managed-by the Consulting firm itself or by supplier personnel. Related to this is the consideration of who will actually accomplish the day-to-day work of contracted consulting activities. The consulting firm may want to handle the entire process by itself, or conversely, the consultant may be more effective by supervising personnel drawn from the buyer. If the buyer is expecting a certain level of expertise, he or she must ensure that the consultant does not merely make his or her initial presentation and then staff the project with lower-level employees or third-party contractors to deliver the actual outputs. If the buyer expects a certain level of experience, he or she needs to clearly specify that requirement with the consulting firm at the beginning of the relationship. Other considerations may include how and when to pay the consultant, who owns any intellectual properties that may be developed in the process, who is responsible for managing project risk and contingencies, and what level and kind of support will be required during the development and implementation of the recommendations. In addition, if the consulting project covers a longer time horizon, both the consultant and buyer will need to create and track the consultant's progress through a series of mutually agreed upon milestones. Note that the consultant's compensation should be carefully linked to what he or she delivers throughout the project timeline. The final payment for the last deliverable should be withheid until the buyer has a chance to carefully review and evaluate the overall project. Question: Based on the case study above articulate your purchasing strategy

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cash Flows

Authors: Cyril Joseph

1st Edition

B0B84RHX2D, B0CPV8WDGT

More Books

Students also viewed these General Management questions