Consultants need to think critically about project scope and price in order to strike a fair and appealing balance between client budget and profitability. Entering into my role as VP, Design and Delivery, I wanted to coach managers and directors to make more informed, strategic decisions on project pricing. I developed and socialized a comprehensive toolkit on strategic pricing to augment coaching conversations and to enable colleagues to develop robust pricing recommendations with confidence.
The toolkit includes project scoping templates, a pricing dashboard tool, and a supporting learning module. The project scoping templates help leaders quickly build robust project approaches, thinking through key requirements, risks, processes and staffing. The interactive pricing dashboard articulates the relationship between effort and utility, cost, revenue and margin on their scoped projects. The accompanying learning module discusses different project pricing scenarios, including situations where higher or lower margins may be appropriate, based on the initiative’s overall business context, risk, and complexity. Together, along with 1:1 coaching, these assets helped senior consultants make more informed business decisions, balancing the needs of our teams, clients, and business.