Even though consulting is a $300 billion industry, some business entities still doubt the value-creation potential of consulting. Some even consider availing of consulting services as a sign of weakness.
Contrarily, in some industries, executives depend a lot on consultancies. The bottom line is that consulting can be an invaluable resource when used effectively. At the same time, we must acknowledge that not all projects are good candidates for consulting support.
To ensure maximum value from your consulting spend, you must first ensure that you're spending the right amount of money on the right projects and investing strategically. But making that decision is easier said than done.
Therefore investing in the right projects has to be your first lever as you strive to optimize your consulting ROI.
This Smart Consulting Sourcing podcast episode tells you how to use this lever most effectively.