Consulting Q&AHow to reduce the cost of Consulting projects?
René SharmilaRené Sharmila asked 1 year ago

1 Answers
Hélène LaffitteHélène Laffitte answered 1 year ago
Today, most companies don’t know how to buy consulting services. They either end you getting a lousy consultant or spending a lot searching for a good one.

At a rate of at least US$ 2000 a day, outsourcing a project to a consultant won’t be cheap.

“Although some big consulting firms talk about their unique process and wealth of experience, the big ol’ secret is that they have skilled temporary labors,” says Helene Laffitte, Co-Founder & CEO at Consulting Quest.

I can tell you the ‘Most Badass Strategy’ to reduce your cost of consulting projects, which is having internal people dedicated to the effort 100%! But it is not always possible. At Consulting Quest, we have a methodology to help our clients get the best value when sourcing consultants.

Here are some tips and tricks to help you reduce the cost of consulting projects.

  • Define your expectation clearly:

The initial step to reduce the cost starts before the project begins. The customer and consultant need to be clear about expectations and timings.

  • Select the right consultants:

It seems pretty obvious, right? But many leaders tend to work with consultants they already know, even though they don’t have the right skills. Take the time to screen the market, and you can use our Conavigo platform to browse more than 4,500 consulting firms across the globe. The right consultant has the right expertise and fits with you and your teams, advises Laurent Thomas, Co-Founder & Executive Chairman at Consulting Quest.

  • Get involved:

Most of the clients who outsource their consultants to do the work don’t get much involved in the project the way they should be. To deliver on the expectations, you manage the project, the stakeholders, and the contract.

  • Use the proper fee structure:

There are several fee structures for consulting services. The most common fee structures are:

    • Deliverable-based fees or flat fee
    • Time-based fees or daily rates
    • Retainer-based fees.
    • Value-based fees.

You can visit Our YouTube Channel for further clarification.