Facilitated by Rich Sheinfeld, Partner and Director of Bain & Co.
Every business has problems--yours included. Professional services organizations struggle to address a range of concerns, such as project management issues, hiring, and billing. Since these businesses focus on providing knowledge-based services, some of these challenges can be particularly difficult to surmount.
According to a PwC study that examined over 10,000 projects at 200 companies, only 2.5% of those surveyed managed to successfully complete all of their projects. While every business has a unique culture and approach to the market, there are common problems that recur, regardless of the size of the company or scope of the project. However, your management team can prepare for and effectively manage billable hours and utilization rates.