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INSTITUTE
OF MANAGEMENT CONSULTANTS |
News and Views |
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eNewsletter for the New England Consulting Community March 2005  |
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In this issue: Member
Feature Articles |
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This issue sponsored by
Deltek Formatting & layout services sponsored by
emerson
consulting ~~~~ |
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Looking For Articles The
Newsletter Committee is looking for articles. Please contact Mike
Kayat at
if you have an article you'd like to
submit. |
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Welcome to this month’s IMCNE newsletter. As we come to the end of the first quarter of 2005, I hope you all had a great start to the consulting year! In this month’s issue we have included two feature articles by IMCNE members. The first article by Rob Cimini discusses setting and managing customer expectations in the context of project management. The second article by yours truly provides an overview of the increasing importance of strategic intellectual property management. We are interested to hear about any instances of where you have received project leads from other IMCNE consultants, or opportunities to provide articles or make presentations. Have you teamed up with other IMCNE consultants on projects? The newsletter is an opportunity for you to provide news on your achievements and learn about your fellow consultant’s activities. Please send your news, articles, book reviews and commentary for the next newsletter, the April 2005 issue. Thanks! Good
consulting! Special Announcements Join the joint Program Committee and Board Meeting which precedes our dinner meeting, Monday, 4/4/05 , 2:00-3:00, board meeting to follow. Join us at the Holiday Inn, Newton, MA. Volunteers WANTED: Programs and Marketing |
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Monday,
April 4, 2005 Wednesday, April 6, 2005 |
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Member
Spotlights Elaine Crowley (The Crowley Group) spoke on “Management - The Scientist’s Dilemma” to the Association of Women in Science in Bethesda, MD and “Cynicism Rx” to the Chesapeake Human Resources Association in Baltimore. Kevin Lister (Paradigm Strategies) has announced the extension of the firm’s services to the automotive trades and the signing of new automotive industry clients. Until this move, Paradigm Strategies primarily served the construction trades. Ken Lizotte CMC (emerson consulting group, inc) recently was keynoter at the first-ever Boston Society of Actuaries Business Event, speaking on "Building your client community.” Tom Sowell (Sowell Manufacturing Consulting) has recently become a member of the Chief Executive Officers’ Club. Membership is by invitation only and each chapter has about 40 members. The Boston Chapter is one of nine regional and four international chapters that includes Mainland China. The Club was launched 20 years ago by Joseph Mancuso, an electrical engineer with an MBA from Harvard University and a Ph.D in business from Boston University. Mark Swartz (Accretive Consulting Group, LLC) was recently quoted as a source for a front page article in the Boston Business Journal (February 11-17) entitled "Manufacturing jobs continue to flee Massachusetts." Isn't
it your turn to be in the spotlight? Send your name, your business
name and 1) recent awards/distinctions/professional certifications
you've received; 2) public speaking engagements; and 3) published
articles. (Be sure to include key facts, such as when, where and
for whom.) You must be an IMC member or affiliate to be featured.
Email them to Mike Kayat at
, Subject: IMCNE spotlight. |
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For all of you who have been contemplating becoming CMCs but haven't known where to start, IMCNE will soon begin a 6-month mentoring program aimed at helping you not only get started but also get finished! With the help of an established CMC as your guide, you will complete all CMC requirements and finally get your goal of CMC status off the back burner. For details on this program, contact Bill von Achen, CMC at 978-440-8022 or . An
invitation to IMCNE CMC members — This section is dedicated
to you. If you have commentary you'd like to share, here is a forum
for you. Send your commentary to our Editor, Mike Kayat, for consideration.
Email Mike at
, Subject: CMC Commentary. |
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Tom Rodenhauser Jeff Hoffman |
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by Carol Bergeron Did
you get a speaking or writing engagement, new client or prospect
or team up on a project or new business venture based on relationships
formed through IMCNE? If so, then we want to hear your success story
next month! |
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Client Expectations Failed projects and disappointing results from company critical initiatives are not the exception. Numerous studies support this alarming reality. The Economist Intelligence Unit, an organization that does research world wide to assist executives in decision making, reported improvement initiatives failed to meet expectations from 40% of the executives surveyed. In the IT world, studies have reported wide ranging disappointing results in project outcomes, some as high as 75% of projects being rated as unsuccessful. There is no one answer to these disturbing statistics. However, based on personal experience, one observation consistently surfaces in successful engagements - meeting the client’s expectations has been synonymous with project success. This observation is supported by a study conducted by Gantthead in August 2003 on the top ten reasons for project failures. The second most significant contributor was failure to set and manage expectations. Meeting client expectations is arguably the absolute definition of project success, the obvious objective of any consulting engagement. Achieving this requires addressing three factors:
Meeting client expectations Clarifying the concept of meeting client expectations requires defining both the “client” and the scope of expectations. The client represents anyone who has an interest in or who is impacted by the outcome of the project. In project management terminology, these are the stakeholders. Subsequently the scope of the stakeholders’ expectations that must be met for genuine project success goes beyond the mutually agreed upon project objectives and the identification of deliverables in the statement of work or contract. It encompasses the myriad of challenges of working through the client’s organization and business issues and dealing with tacit expectations of the consultant held by the stakeholders. And even though the consultant may painstakingly document the deliverables and contractual obligations with full key stakeholder agreement, proceeding with singleness of purpose in that direction without uncovering and addressing the peripheral expectations, poses a significant threat to project success. Accountability Based on this assessment of stakeholder expectations, a commitment by the consultant to be accountable for meeting them is vital to achieving genuine project success. This is not a negotiated accountability that is re-qualified as project obstacles arise, but an unwavering position established at the project initiation. Fulfilling this commitment is dependent on the following two conditions:
Managing Expectations Accountability represents the foundation on which project success can be built through meeting the stakeholders’ expectations. But achieving this end requires a working, dynamic management process. It requires that agreed upon objectives and expectations are constantly monitored to assure they are being addressed and to assess changes, both subtle and otherwise. A working management process relies heavily on the use of general management skills in concert with skill in applying a project management methodology. The essential role of general management skills in managing expectations cannot be overstated. Demonstrating leadership on the project; using communication skills to develop relationships with the stakeholders; negotiating conflict and differences among team members and stakeholders; and influencing the organization based on the consultant’s professional experience are all characteristics that build credibility with the stakeholders and engages them in supporting the project. Perhaps the most important general management skill is problem solving. Problem solving in the consultant’s area of specialization is assumed. But based on experience, sources of the most daunting problems are the client’s organization and the resistance to accountability that must be assumed by key stakeholders and team members. Confronting these obstacles can be a severe test of the consultant’s commitment to accountability. But overcoming them is essential to fulfilling the project objectives and ultimately meeting the expectations of the stakeholders. Embracing meeting client / stakeholder expectations as the truest measure of project success and accepting accountability for meeting those expectations can present a formidable consulting challenge beyond just the application of specific technical expertise. But a commitment to that end aided by a strong active management process can mean the difference between the consultant receiving an acknowledgement or having to provide justification, i.e. receiving an acknowledgement for the excellence of his/her work or providing a justification of delivered results at the end of the project. (Part II of this article will provide an overview of the essential components of the project management methodology for managing stakeholder expectations.) Rob Cimini, PMP is Director of Project Management for Pragmatic Consulting, Inc., a consulting firm that provides continuous improvement solutions. Using IP for Business Growth by Michael Kayat Many of us are consulting with product and service companies who need to continually innovate in order to maintain business growth by satisfying customers in existing and new markets. Innovation is an important market differentiator. However, the time from ideation to market launch is shrinking in the face of global competition. Along the way, successful, highly innovative companies are creating strong and large portfolios of intellectual property (IP) that if managed strategically can be used to generate additional revenues, market share, alliances, protect competitive positions as well as staking out new landscapes. Patents, copyrights, trademarks, software, business methods and trade secrets are all types of IP. In the US, Europe and Asia including China, patent filings are increasing each year (along with patent enforcement actions and infringement suits). IP is a key to making innovation and competitive advantage both exclusive and sustainable. Strategic IP management that is aligned with corporate growth strategies produces significant value to a company’s economic value. The largest global companies like Avery, Dell, Dow, IBM, Intel, Proctor & Gamble and others have shown the value of strategic IP management. For example, IBM generates nearly $2 billion a year on licensing revenue. According to industry reports, on average about 70% of the market value of the S&P500 companies is due to IP and other intellectual assets while some 90% of the economic value of the global 2000 companies in 2007 will be attributable to intangible intellectual assets including IP. This is an increase from around 20% thirty years ago. Most small and medium size companies are not utilizing IP management even though studies have indicated they could typically add 10 to 20% onto operating income if they did so and in successful patent infringement cases, the payoff can be tens of millions of dollars or higher. Many larger companies are looking to in-license existing proven technology, saving years of expensive research and development. However, in small and medium size companies IP management is usually not measured or valued (except as an expense due to patent fees), because it is not being managed for opportunity or risk. Main reasons are the lack of executive management appreciation of the strategic nature of IP and limited knowledge of the actual IP that is owned, together with a lack of resources to effectively manage IP. Developing and implementing strategic IP management follows several important steps: Patent mining: conduct an IP audit and analyze patent portfolios, identify “obsolete” patents for abandonment or donation, identify opportunities for enforcing patents that are being infringed, out-licensing new technology, identify new technologies for possible joint ventures; Technology landscape analysis: explore the patent landscape and technology environment, identify blocking patents, explore possible infringement risks for new product technology (early in the product development phase), identify external patents whose rights may be acquired, analyze competitor’s patents that may be used to block product development; Technology valuation: define strategic IP objectives in the context of corporate strategy, understand patents and associated technologies, assess the competitive landscape, analyze the threats and opportunities presented by competitor’s patents, research markets; IP commercialization: determine the best options on the potential for specific technology or patent, including in/out licensing, new product development in new synergists and opportunistic markets, strategic alliances, spin-outs, merger and acquisitions, enforcements along with cost-saving options through abandonment and donations. Strategic IP management is now an important part of corporate strategy and is a key to sustaining innovative and competitive advantage for companies of all sizes. Michael Kayat is Managing Principal Partner, Metrisys LLC, a firm that provides strategy, sales, marketing and business development services to emerging technology companies. You could be sharing your wisdom and observations with your fellow IMCNE members. Submit your article of 250-300 words for consideration to News & Views Editor Mike Kayat at , Subject: IMCNE article. |
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Breakfast
Brainstorms Calendar Monday,
April 4, 2005 Monday,
April 11, 2005 Want to host a Breakfast Brainstorm in your area? Contact for details. Strategic
Partner Events — Check out our Calendar of Strategic Partner
and Other Events on our web site for more information on events
of interest. Click www.imcne.org/spcalendar.html,
then click on the appropriate link for detailed information that
could save you money. |
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The Contemporary Consultant: Insights from World Experts. Most management consultants preach the power of fresh information to our clients. However, information about our own industry can be hard to come by. For this reason, I recommend The Contemporary Consultant for your own library. It is not a “how-to” book but rather an informative, broad survey of the consulting industry. Overall, it will give you a good feel for the past, present and future of consulting in general as well as specific practice areas. There are also groups of chapters that address specific markets, consulting contexts and consulting firm management. It is a pretty dense treatment of our chosen field but it is full of thought-provoking information applicable even to the smaller consulting firm. Mary Adams is a Principal with Trek Consulting LLC Ban the Humorous Bazooka (And Avoid the Roadblocks & Speed Bumps Along the Innovation Highway) This book is about how to establish a sustaining process for innovation within an organization. Continuous innovative, “out of the box” thinking is a critical success factor in an increasingly commodity-centric world. New product development for new markets with fast time to market is the name of the game. In fact, business strategy is more about inventing new games. Today’s fastest growing companies generate most of their revenues from products developed over the past five years. These companies can take a new idea and move it through to the development process to market launch. From his experience as a facilitator, Sebell shows how innovation has to be a cultural component of any company. Innovation cannot easily be “road-mapped” but guidelines can be developed to encourage and produce innovation. The “bazooka” is a humorous (or otherwise sarcastic) response from co-workers or management that can dampen out creative, innovative ideas or proposals which are vital to an organization’s business growth and existence. Few companies, particularly the established ones, actually have a culture of “all ideas should be considered”. Most ideas wither on the vine due to a cultural status quo with multiple “speed bumps”. Sebell identifies three levels of increasing innovation that an organization can engage in, each requiring more investment and support: Incremental innovation. Small, important new improvements to a company’s products or services; Breakthrough innovation. Important product changes that produce a substantial competitive advantage for some period of time; Transformational innovation. Anew technology that creates a new industry and changes the world. This can eliminate or completely transforms existing industries. In addition, Sebell discusses the five phases of the innovation process, together with the critical success factors in each phase: Phase 1: Setting up objectives. Setting innovation initiative goals that are aligned with the business strategy and making these goals measurable; Phase 2: Discovery. Analyzing the innovation drivers (technology, competition, regulation and customers) with creative ideation, problem solving and teamwork; Phase 3: Invention. Creating novel ideas covering the different innovation levels; Phase 4: Greenhouse. Determining which ideas are real, doable and important, getting from “that’s impossible” to “maybe it will work” as ideas are nurtured and grow; Phase 5: Implementation and launch. Getting top ideas around the innovative “speed bumps”, discussions on resources and changes to get on the launch pad. Lastly, Sebell provides detailed ground rules for facilitating innovation-focused meetings. Michael Kayat (Metrisys, LLC) Please
send book reviews to Mike Kayat at
Do Well: The secret to success is doing the best that you can do. By working hard and practicing the skills that you need to perform, the results will take care of themselves. Live as if you were to die tomorrow. Learn as if you were to live forever. |
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Advertising Rates Would you like to advertise an event, product or service in this e-letter? Request our advertising fee schedule by emailing IMCNE's administrator at or by calling 800-696-7399. About IMCNE Learn more about IMCNE's programs, membership details and services to New England consultants by clicking here or calling us at 800-696-7399. News and Views Editor Mike Kayat Metrisys, LLC - Sales, marketing & business development services for emerging technology companies Phone: 978-371-0823 Email: Mail: IMCNE "News & Views", P.O. Box 774, Westford, MA 01886 Copyright © 2005 IMC New England |