Contingency Planning for Professional Services Projects

Author: Categories: Professional Services, Project Management

Contingency Planning Professional Services

One of the greatest risks to a professional services project is starting it without dedicating any time to contingency planning. Sure you’ve delivered this type of project a thousand times. Of course, you have an excellent relationship with the client. Without a doubt, your team has the right skills to deliver under budget and on time. But things change, and … Read More

Lessons Learned in the Professional Services Industry – A Decade of Insights

Author: Categories: Professional Services

SPI Research

This year marks the tenth publication of Service Performance Insight’s annual Professional Services Maturity Benchmark survey. This phenomenal body of work not only provides insight into the micro trends affecting the professional services market over the past 12 months, it examines broader macro trends tracing back a decade or more. This broader history is especially interesting as it examines the … Read More

6 Revenue Forecasting Mistakes Professional Services Firms Make – Part 2

Author: Categories: Professional Services

At the center of every professional services firm, there is a revenue forecast. Regardless of the platform used to develop a revenue forecast—spreadsheets, whiteboards, or Professional Services Automation software—every services manager is trying to predict what the future may hold.  And revenue forecasts are just that, a prediction. In my last post (link below) about revenue forecasting mistakes, I took … Read More

6 Revenue Forecasting Mistakes Professional Services Firms Make – Part 1

Author: Categories: Professional Services

Professional services firms live and die by their ability to forecast revenue. Although there are many types of forecasts that service firms perform—utilization, profitability, or backlog—they all tie into an underlying revenue forecast. Get your revenue forecasting right, and you have an appropriately sized firm that has a healthy service mix. Get your predictions wrong, and you will be under … Read More

Revenue Forecasting Models for Professional Services Firms

Author: Categories: How To, Professional Services

Revenue Forecasting for Professional Services Firms

Revenue forecasting is more of an art than a science—for professional services firms at least. Although the inputs used are quantitative in nature, successful service executives will often layer in their perspectives on the business, the market, or key accounts. Perfecting the qualitative aspect of forecasting revenue comes with years of experience working in PS firms. The underlying forecast model, … Read More

The Two Faces of the Professional Services Automation Market

Author: Categories: Professional Services, Projector PSA

During our discussion, I mentioned the names of some of the other well-known vendors that we compete against, that we appear in studies and benchmarks alongside, and that heavily use the term “Professional Services Automation.” The response? (Long pause.) “Hmmm…never really heard of them.” Similarly, when talking with people intimately familiar with the professional services market, I mentioned a few … Read More

Resource Management: What Facebook and Professional Service Firms have in Common

Author: Categories: Professional Services, Projector PSA

Facebook has recently conquered another huge milestone. The social network corporation just achieved the title of fourth most valuable company in the world, dethroning Exxon Mobil. It is nothing new that people simply loves Facebook. But why would an executive at a professional services firm care about the success of this giant? The answer is simple. Think about Facebook’s biggest … Read More

The Secret to Smart Professional Services Resource Management

Author: Categories: Professional Services, Projector

I just published an article in the July issue of Professional Services Journal that discusses combining art and science in the pursuit of resource management in a professional services firm. It talks about how necessary it is to combine two different perspectives when managing resources: the mathematical, algorithmic, metric-oriented, rational world with the intuitive, empathetic, human one. Systems like Professional … Read More