Internal Consulting Organizations Need to Show Value to Organizational Leadership

CHAPEL HILL, N.C., Aug. 27 /PRNewswire/ -- Many leading companies have developed and staffed an internal consulting organization for various reasons, but in times of economic adversity, as costs are scrutinized, the value of all functions within companies are being questioned. Although internal consulting organizations are typically created with a clear purpose, often these organizations grow and take on additional responsibilities supporting important executive issues in a rather amorphous manner, and thus lack the clear performance measures of other functions within companies.

Best Practices, LLC has conducted research to study and share the best practices that internal consulting groups can use to effectively measure performance and communicate the value of their function. The study "Best Practices for Valuing Internal Consulting Organizations" addresses key areas such as:

• Effective value indicators
• Methods for qualifying value
• Project evaluation approaches
• Evaluation frequency
• Effective methods for communicating value
• Communication frequency
• Methods for aligning strategy with corporate goals
• Key internal consulting skills
• Success factors and best practices for measuring and communicating value

This research was undertaken to identify practices internal consulting groups can use effectively to measure their performance and to communicate their value to senior leadership. The research involved an online survey of 31 internal consulting leaders at 24 companies, as well as in-depth follow-up interviews with participants who demonstrated innovative methods for capturing or communicating group value.

Key metrics collected for this research include:

• Internal Consulting Function Represented
• Longevity of Internal Consulting Function and Respondents' Years of Experience
• Funding Source for Internal Consulting Group
• Initiatives of Internal Consulting Group in Last Two Years
• FTEs Dedicated to Internal Consulting
• Indicators Used to Determine Overall Value of Internal Consulting Group
• Effectiveness of Value Indicators
• Approaches for Evaluating Success of Internal Consulting Projects
• Ranking of Approaches for Evaluating Success of Internal Consulting Projects
• Methods for Communicating Value of Internal Consulting Services
• Effectiveness Rating for Communication Methods

To learn more about this report, including information about the research participants, key findings and sample best practices, please download a complimentary excerpt and study overview at: http://www3.best-in-class.com/rr1019.htm.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC serves 48 of the world's 50 top pharmaceutical companies.  For 17 years, we have conducted work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.  For more information about the company, go to www.best-in-class.com.

SOURCE Best Practices, LLC

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