Management Consultant Job Overview

experience management consulting
Neue Antwort am 27. Nov. 2021
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Anonym A fragte am 23. Nov. 2021

Hi,

As many of you are management consultants, I am trying to learn more about the day to day role.

My main interest is regarding they way a client's project is managed:

Suppose you are in charge of a new client. You have 6 months before the project is due (recommendations must be made in 6 months): 

1) How do you plan the overall work ? Is there a certain process that Mgt consultants follow such as market research, data analysis, hypothesis testing etc… If so what are those steps ?

2) In terms of communication/engagement, how do you engage with the client ? 

Thanks a lot for your input ! 

 

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Ebru
CoachingPlus-Experte
antwortete am 24. Nov. 2021
McKinsey|ex Firm Case Coach| LSE

Hi there,

It all depends on the project and client but overall here are some insights into the way of working in consulting:

PLANNING 

The LOP (Letter of Proposal) includes the roadmap and defines high-level what and how we will support the client (e.g., conduct market research, workshops).

The project manager is the one planning the overall work in alignment with the partners and the client. This is an ongoing process and adjustments are made based on new information (data, research, analyses, etc.)

The project manager's key role is in structuring and identifying different workstreams for each consultant that need to be worked on. There will be usually some stakeholders from the client-side for each workstream where the consultant will work together.

COMMUNICATION

Recommendations are given on an ongoing basis to the client, not just at the expected end of an agreed project.

Usually, there are regular meetings with top management and the middle management you are working with directly. In these meetings, you present current findings and align on the next steps.

Our work is done always in close alignment with the client and in a very agile way of working. It is hypothesis-driven and usually developed very closely with the client.

Of course, the working mode with each client and project might be a bit different from what I described above (e.g. operations projects are more hands-on and implementation-focused than strategy projects).

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Ian
Experte
Content Creator
antwortete am 24. Nov. 2021
BCG | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep

Hi there,

There was actually just a great Q&A on this! 

https://www.preplounge.com/en/consulting-forum/how-do-consultants-work-from-home-12159

In regards to your question honestly this really depends on the company and the project! The main advice I can give is to learn on the job and adjust/adapt to your boss's style/process.

#1 requires an immensely thorough answer that is hard to provide here. The answer for #2 is that you may engage via email, phone, in person, in workshops, etc. It all really depends on the nature of the engagement and what stage of the process you're in.

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Clara
Experte
Content Creator
antwortete am 24. Nov. 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

Those are great questions! And the classical ones that you answer in the first weeks, when you do a 1-2-3 weeks onboarding in which you learn all of this. 

It totally depends on the project and its targets, but there is a lot of pre-work done and agreed. When projects are sold to clients, there is a lot of details already in the LOPs (letter of proposal) in terms of deadlines, touchpoints, objectives, deliverables… In the project you usually follow that quite closely. 

Hope it helps!

Cheers, 

Clara

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Pedro
Experte
antwortete am 27. Nov. 2021
# Bain | EY-Parthenon | Roland Berger | FIT | Market Sizing | Former Head Recruiter

1. The process depends on the specific project objective itself. Of course, most projects do require market research (and internal data gathering) and data analysis (and that is part of the hypothesis testing), etc. The work is usually separated into streams and all have those activities, but each work stream is trying to solve a different problem.

2) You have regular meetings with the client. There are also many possibilities here, but it is common to have a client point of contact (someone on their side who you will contact on a regular basis, sometimes daily). Can be one person, on team, or multiple people depending on the project size and scope. 

You should have a sponsor (i.e., the person buying the project, or the #1 responsible for it at the decision making level) which needs to be engaged frequently (weekly, every 3 weeks, …) to know how the project is progressing.

Then you will have a steering committee, i.e., the key decision makers for that project that will help with reviewing project direction, preliminary conclusions, etc. and who ultimately agree or veto your recommendations. They key executives in the company that will have to implement your recommendations should be here.

Sometimes conclusions (in the end, i.e., final report) may need to be presented to the board, if the project is relevant enough and they are not adequately represented in the Steering Committee.

There was a lot more I could say, but I hope this made it more clear.

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Ebru

CoachingPlus-Experte
McKinsey|ex Firm Case Coach| LSE
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