ECM3435 IT Consulting 1 - Introduction to IT Consulting

Why would organisations prefer to hire an IT consultant instead of expanding their in-house IT team?

• To gain a fresh, unbiased perspective

• To utilise specialised knowledge that isn't currently available within the company

• To avoid costs associated with hiring and training new employees

• Because IT consultants are always more efficient than in-house teams

Identify the true statement(s) about the relationship between Business Analysis (BA) and IT Consulting:

• BA and IT Consulting are completely unrelated fields

• BA and IT Consulting often use similar methods and techniques, even though they are distinct disciplines

• BA and IT Consulting are exactly the same

• IT Consulting encompasses various areas, and BA can be a specialised area within certain IT Consulting projects

How many types of consulting fee models are commonly recognised?

• 1

• 2

• 3

• 4

In which situations would the time and materials fee model be most appropriate?

• The client has unlimited financial resources

• The project's scope is not clearly defined

• The consultants are aiming for high profits

• The project can involve activities not initially included in the consulting assignment

How does the fixed fee model benefit both clients and consultants?

• Clients gain a clear understanding of project costs

• Consultants can plan their work schedules more efficiently

• Clients are guaranteed to save money on the project

• Clients are more likely to be satisfied with the outcome

What are some drawbacks of using a subscription fee model?

• Clients might not perceive the subscription fee as valuable

• This model is always more expensive for clients compared to other models

• Incorrect fee setting by consultants could lead to unprofitable projects

• The model might not adapt to changes within the client's organisation

Under what circumstances would a consulting fee plus reward model be appropriate?

• The consultants are seeking substantial earnings from the consulting engagement

• The consultants are assured that the project will deliver value to the client

• There is a well-defined criterion for determining the reward

• There is a strong trust relationship between the consultants and the client

What factors should consultants consider when setting their consulting fees?

• Assess the client's financial capacity for the project

• Consider the prevailing market rates for comparable consulting services

• Estimate potential costs and expenditures

• Take into account the client's preferred fee model

What factors should be taken into account when setting the objectives and outlining the scope of a consulting project?

• The client's preferred investigation approach

• The strengths and capabilities of the client organisation

• The business goals of the client organisation

• The resources available within the consulting firm

Identify the frameworks that consultants might employ to establish the scope of a consulting project.

• No-Future framework

• Future-Now framework

• PES framework

• PEK framework