London: As the UK's management consulting sector reports strong order books and pipeline growth, the MCA Consultancy Buyers Forum (CBF) has launched its CBF Blueprint — providing detailed good practice guidance to both consultancy buyers and suppliers on how to gain and provide best value.
The CBF was launched in 2012 with the support of the Management Consultancies Association (MCA) and is open to anyone with responsibility for engaging consultancies and working with them. Consultants and buyers have produced the CBF Blueprint together. The online Blueprint also explains all about the aims and objectives of the CBF, which currently has representatives from over 100 buying organisations.
The Blueprint covers each stage of the consulting cycle, from defining business needs and choosing suppliers to evaluating the impact and value of consulting projects.
Paul Vincent, Founder and Chair of The Consultancy Buyers Forum, said, "If you or your organisation spends money on consultancy services, or alternatively if you or your organisation provides consultancy services, then the CBF Blueprint is a vitally important free resource. It provides a raft of guidance on how to ensure that you receive and provide best value."
A recent survey (1) conducted by the CBF with companies that spend a combined £1.6bn on management consultancy each year found that adopting a good practice approach to 'defining the initial business need' could add a further 30 per cent to the value of their organisation's consultancy spend. Independent research also shows that, on average, clients believe that the benefits of a consulting project are worth around £6 for every £1 spent in fees. The CBF aims to increase this further through improved understanding and effectiveness on all sides.
Alan Leaman, CEO of the MCA, comments, "The Blueprint has been created collaboratively by consultancies and their clients. It is already improving the quality of dialogue and the relationship between buyers and sellers in this market. I'm confident that the Blueprint will help to drive greater value for all and promote good practice throughout our industry."
The CBF Blueprint is available here.