Risk Management_Consulting Industry


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Risk Management_Consulting Industry

  1. 1. By: Group 5 S P Jain Center of Management
  2. 2. Situational Analysis •Consulting Industry •Company: Arthur D. Little (ADL) ERM •Process Flow Diagram •Risk Break Down Structure •Risk Response Strategy •Risk as revenue driver 2
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  4. 4. Management Consulting Financial Consulting Technology Consultant HR Consulting Environmental Consulting Multi Sourcing Pricing Strategies Off Shoring Implementation of Strategies 4
  5. 5. Sources of Revenue Metals and Natural Resources 1% Hospitality 1% Currently worth over $100 billion Food 1% •US 50% Transportation 2% Retail 2% •Europe 10% Energy 2% Very good financial gains for 2005-2006 Construction 2% Chemicals 2% Media 3% Electronics 3% Education 3% ConsumerProducts 3% Telecom 4% Pharma 4% Healthcare 4% Professional Services 6% Utilities 7% Manufacturing 7% Insurance 7% IT 7% Government 13% Financial Services 16% 5
  6. 6. Deloitte, Bain & New York Company, Boston Mercer Oliver Wyman, New York McKinsey & Company, New York Boston Consulting Booz Allen & Group, Boston MA Company, McLean VA 6
  7. 7. Global Services/PWC Zurich L. E. K. Consulting London Arthur D Little Paris Capgemini Paris Value Partners Milan 7
  8. 8. • Founded in 1886 • Innovative Beginnings: Late 1800s-1940s • Continued Growth Amid Changes: 1950s-60s • About Arthur D Little Struggles and Changing Times: 1970s-80s • Strengthening Operations in the 1990s • New Arthur D Little – Post 2001 8
  9. 9. • Owned by Paris based Altran Technologies • 1000 employees, 30 offices, 20 countries • 2000 assignments in 60 countries • StrongAbout Arthur D Little in Oil and Gas , Telecom ,Automotive Chemical and Healthcare • Taking Carbon margin and Environmental consulting as serious business • Consulting Experience with many governments 9
  10. 10. •Brands •History of Chapter 11 •Intellectual Capital •Inability to attract talent •Relational Capital •Involvement in volatile •Centers of excellence in various businesses domains •New London ,Asia & Africa as major •Political instability areas for investment and growth •Bad Debts •Diversification into non •Upcoming regulatory conventional energy compliances consulting 10
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  12. 12. Risk Management Planning Risk Management Plan Risk Identification Risk Register Qualitative and Integrated Change Quantitative Risk Management Analysis Risk Register (Updated) Risk Response Planning Risk Register (Updated) Risk Register (Updated) Recommended Preventive & Corrective actions Risk Related Contracts Requested Changes Risk Monitoring and Control 12
  13. 13. Enterprise Risk Technical External Organizational Operational Obsolescence Political Instability People Dependency Solution Failure Solution Complexity Customer Attrition Brand/Image Risk Demands Delivery Quality Regulatory Project Assignments with Compliance Prioritization High Stakes Competitors & Market Natural Calamities Bad Debts 13
  14. 14. • Obsolescence – Training and • Political instabilities - Insurance development • Customer demands – Documentation • Regulatory compliance – International • Solution complexity – Constantly certifications improving processes • Competitors and market – Leverage on • Quality requirements – brand and intellectual capital, stay abreast Certifications and methodologies • Natural calamities – Insurance • Bad Debts – Payments to consultants should be better managed and accounted Technical External 14
  15. 15. • People dependency – Knowledge • Solution failure – Have partnership extending management into implementation, builds trust and increases interaction with implementing party • Attrition and Talent shortage – Better • Brand/image risk – Choose assignments Salaries and Improved job profiles carefully • Project prioritization – Resource • High stakes assignments – Put the best people rotation at work where the stakes are high • Living with the legacy – Freshen up • Dependency on volatile domains – Diversify their approach to work, be a new ADL into energy consulting rather than just oil and gas. In automotive move into future technologies Organizational Operational Risks Risks 15
  16. 16. Positive Risk can be: • Exploited – Eg. Associations with unstable governments is a risk because of political instability, but is a huge business opportunity • Shared – Eg. ADL is out of Technology consulting, but they can share the risk of doing consulting in a new domain by involving a technology partner • Enhanced – Modifies the size of opportunity by increasing positive impacts and key drivers, so that the probability of the risk or opportunity increases. For eg. Training in future technologies for consultants 16
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