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RSM495H1 Final: Cheat Sheet RSM495

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University of Toronto St. George
Rotman Commerce

Elements of an ops improvement strategy: goals (objects), focus (where), org’n & planning (which consultants do what, when), context (motivation for change), methods, resources ($ expertise), learning capture (req knowledge & availability) Consulting Engagement Process: Pre-Project (getting business), Start-Up (setting the bar, getting the funds), Data Gathering & Analysis (objective evidence & insight), Developing Recommendation (unbiased advice), Recommendations (unbiased advice), Execution (delivering, satisfying, profiting), Closure (ensure lasting impression and continue relationship) Consulting Industry Trends: tough market (price sensitive customers, longer buying decisions, project postponement/cancellation, scale back project scope, tough negotiations, fee pressure, restructuring, cost/risk management, openness to innovative ideas, uncertainty (old ways no good)), government jobs Protecting Profitability: increasing sales activity, new services, mid-sized firms do more for less, less people poaching, less travel Consultants need to be at the client site to observe because first-hand observable data is better; 80-90% of knowledge is tacit (unspoken) and sharing tacit knowledge is not a priority for clients and they rely on the “rub-off” effect. Internal vs. External Consultant Focus of attention On desired outcomes from the project, maintaining On desired outcomes from the project, on retaining job & long-term relationships w/ other members clients, & short-term relationships w/ members Client’s perception As another member with known roles, skills and As a specialist having strong expertise of skills performance Source of credibility From consultant’s authority, known performance From consultant’s reputation and apparent expertise w/ client and quality of relationships Biases of consultant Influenced by the culture of the organization, and Influenced by personal and professional background desires and personalities of other members Consultant’s Already knows much about the organization, in In addition to certain professional knowledge, has to knowledge base addition to having certain professional knowledge learn about the organization “from scratch” Client’s perception As a member of the organization who also might As an outsider, a “hired gun” who is not part of the of firm be part of the problem problem Client’s acceptance Depends on the top leadership’s support of the Depends on the top leadership’s support of the project of consultant project, consultant’s authority and client’s and the skills of the consultant to get buy-in from relationship with the consultant members Influence of Depends on the top leadership’s support of the Depends on the top leadership’s support of the project consultant project, consultant’s authority and expertise, and & the consultant’s interpersonal skills – the consultant client’s relationship with the consultant has to learn about power & politics in the organization Range of influence Can often readily involve various resources Operates within the scope and terms of the contract throughout client with client Options outside Cannot readily opt out of the project Can leave the project per any terms of the contract project Proposal Process: receive invitation (RFP), assemble proposal team, create, submit, proposal acceptance, project set up Phase 1: Scope definition and data gathering (gather and analyze data, develop project plan, team organization) IBM Knowledge Management Proposal Criteria: improved data org’n, better info sharing, reinforce culture of confidentiality (clear security clearance protocol), eliminate loss of knowledge through turnover, enhance leverage & reduce waste (similar projects) Project Evolution: listen to client & plan engagement, data gather & research, analysis & status report, synthesize solu’n, present Project Kick-Off Meeting: Situation Overview (past work, working grp accomplishments, agreed decisions, to dos), Project Benefits (5Ws, NPV, soft factors, necessity), Objectives (why do the project, phase 1 expectations- business case and modeling, phase 2 expectations- roadmap development)), Deliverables, Project Plan (planning and scoping, data collection and validation, high-level operating model, implications assessment, reporting and decision-making, project management), Principles and Parameters, Scope Review, Data Sampling Discussion & Approach (eg. spend analysis, staff activity analysis, technology assessment, cost assessment), Key Stakeholder Interview, Immediate Next Steps Measuring Engagement Health: PM evaluate constraints- scope, time & cost, use stoplight reporting, conduct proj scenario planning What to do First (Prioritization Model): Priority (immediate implementation), Objectives (future destination), Org’n Readiness (speed of delivery & benefit realization), Pain Points (to drive priorities & define the journey) Client Unstructured Interviews: start of market interview program, less than 5 interviewees, don't know questions, data not quantify Economic value added (EVA)= afte
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