The Consultant's Scorecard, Second Edition: Tracking ROI and Bottom-Line Impact of Consulting Projects
by Phillips, Jack; Phillips, PattiBuy New
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Summary
Author Biography
Jack J. Phillips, Ph.D., provides consulting services for Fortune 500 companies and organizations in 44 countries. The author and editor of more than 50 books, he conducts workshops and presents conferences around the world. Phillips has received awards from several organizations, including Meeting News magazine, the Society for Human Resource Management, and the American Society for Training and Development.
Dr. Patti Phillips is president and CEO of the ROI Institute, Inc. She, too, consults with organizations around the globe and has conducted ROI impact studies on numerous types of programs, such as leadership development, sales, new hire orientation, and performance improvement. She is the author or coauthor of many articles and books, including Show Me the Money, The Value of Learning, and The Consultant's Guide to Results Driven-Business Proposals.
Table of Contents
| Acknowledgments | p. ix |
| Introduction | p. xi |
| Setting the Stage | |
| The Need for Consulting Results from the Client Perspective | p. 3 |
| Why Measure Results? | p. 3 |
| Trouble in Paradise | p. 5 |
| When Consultants Are Not Accountable | p. 11 |
| Shifting Paradigms | p. 13 |
| Needing a New Approach to Measure Impact | p. 15 |
| How to Make Sure You Get Your Consultant Focused on Results | p. 17 |
| Final Thoughts | p. 22 |
| How Consultants Can Prove the Value of Their Work to Clients: What's in It for the Consultant? | p. 23 |
| Why Measure ROI? | p. 24 |
| The Dilemma of ROI Accountability | p. 26 |
| What Is Causing This Concern for Accountability? | p. 27 |
| Finally, a Feasible and Credible Approach | p. 30 |
| The Framework: Evaluation Levels | p. 31 |
| The ROI Process Model | p. 33 |
| The Operating Standards: Guiding Principles | p. 41 |
| Implementation of the Process | p. 41 |
| Applications | p. 42 |
| How Evaluation Data Can Be Used: Benefits of ROI for Consulting | p. 43 |
| Application of the ROI Process: A Case Study | p. 45 |
| Final Thoughts | p. 50 |
| Initial Analysis and Planning: Key to a Successful ROI Evaluation | p. 51 |
| Overall Project Goal | p. 51 |
| Levels of Project Objectives | p. 52 |
| How Is It All Connected? Linking Evaluation with Needs | p. 59 |
| Planning for Measurement and Evaluation | p. 70 |
| Final Thoughts | p. 75 |
| Data Collection | |
| Was It Useful and Did You Understand It?: Measuring Reaction and Learning | p. 79 |
| Why Measure Reaction? | p. 79 |
| Why Measure Learning? | p. 81 |
| Sources of Data | p. 82 |
| Topics for Reaction and Learning | p. 83 |
| Timing of Data Collection | p. 83 |
| Using Questionnaires and Surveys to Measure Reaction and Learning | p. 85 |
| Using Interviews to Measure Reaction and Learning | p. 91 |
| Using Focus Groups to Measure Reaction and Learning | p. 93 |
| Measuring Learning with Tests | p. 95 |
| Measuring Learning with Simulation | p. 95 |
| Measuring Learning with Less Structured Activities | p. 96 |
| Using Reaction and Learning Data | p. 97 |
| Final Thoughts | p. 99 |
| Measuring the Progress of Consulting Projects: Tracking Application and Impact | p. 101 |
| Why Measure Application? | p. 101 |
| Why Measure Business Impact? | p. 103 |
| Data Collection Key Issues | p. 104 |
| Using Questionnaires to Measure Application and Impact | p. 110 |
| Using Interviews and Focus Groups | p. 117 |
| Using Observation | p. 117 |
| Using Action Plans | p. 120 |
| Using Performance Contracts | p. 124 |
| Monitoring Business Performance Data | p. 125 |
| Selecting the Appropriate Method for Each Level | p. 127 |
| Final Thoughts | p. 130 |
| Analysis | |
| Separating the Consulting Impact from Other Factors: How to Isolate the Effects of the Consulting Project | p. 133 |
| Why Isolate the Effects of Consulting Projects? | p. 133 |
| Preliminary Issues | p. 134 |
| Use of Control Groups | p. 136 |
| Analytical Approaches | p. 138 |
| Estimates from Credible Sources | p. 142 |
| Using the Techniques | p. 149 |
| Final Thoughts | p. 150 |
| How to Convert Business Measures to Monetary Values | p. 151 |
| Why Convert Data to Monetary Values? | p. 151 |
| The Five Key Steps to Convert Data to Money | p. 152 |
| Standard Monetary Values | p. 154 |
| When Standard Values Are Not Available | p. 160 |
| When Conversion Should Not Be Pursued: The Intangible Benefits | p. 171 |
| Selecting the Techniques and Finalizing the Values | p. 174 |
| Final Thoughts | p. 177 |
| Costs and ROI: Monitoring the Costs of Consulting and Calculating ROI | p. 179 |
| The Importance of Costs and ROI | p. 179 |
| Developing Costs | p. 180 |
| Cost-Tracking Issues | p. 183 |
| Major Cost Categories | p. 186 |
| Basic ROI Issues | p. 190 |
| ROI Measures | p. 191 |
| BCR/ROI Case Application | p. 193 |
| Other ROI Measures | p. 196 |
| Benefits of the ROI Process | p. 198 |
| Final Thoughts | p. 199 |
| Reporting and Implementation | |
| Reporting Results: How to Provide Feedback and Results to the Client | p. 203 |
| Communicating Results: Key Issues | p. 203 |
| Analyzing the Need for Communication | p. 206 |
| Planning the Communication | p. 208 |
| Selecting the Audience for Communications | p. 210 |
| Developing the Information: The Impact Study | p. 213 |
| Selecting the Communication Media | p. 218 |
| Communicating the Information | p. 221 |
| Analyzing Reactions to Communication | p. 226 |
| Final Thoughts | p. 227 |
| Making It Routine: Overcoming Resistance to Measuring ROI | p. 229 |
| The Resistance | p. 229 |
| The Approach to Overcoming Resistance | p. 230 |
| Assessing the Climate | p. 232 |
| Developing Roles and Responsibilities | p. 233 |
| Establishing Goals and Plans | p. 236 |
| Revising/Developing Policies and Guidelines | p. 239 |
| Preparing the Consulting Staff | p. 239 |
| Initiating ROI Projects | p. 241 |
| Preparing the Management Team | p. 242 |
| Removing Obstacles | p. 245 |
| Monitoring Progress | p. 245 |
| Final Thoughts | p. 245 |
| Appendix: Do Your Consulting Projects Focus on Results? | p. 247 |
| Notes | p. 253 |
| Index | p. 255 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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