Lifecycle of a Professional Service Firm

There are four primary processes in the operations of a PS Firm. In our first 12 episodes we will talk through many of these items.

1. Hire to Retire

  • Capacity Plan
  • Hire Staff
  • Contractors
  • Onboard resource
  • Manage Skills
  • Employ Dev
  • Manage Performance

Metrics to consider: Employee Sat,  Skills Capacity,  Skills Forecast, Partner Performance, Certifications

2. Lead to Close/Renew

  • Manage Accounts / Ops
  • Manage SOWS, Contracts, Change Requests (CRs)
  • Initiate Projects
  • Memorialize Assets & Results
  • Gather Customer Feedback
  • Manage Relationship

Metrics to consider: Pipeline, Sales Forecast, Bookings, Backlog, Cust Sat, Project Status

3. Scope to Deliver

  • Manage Pricing Model
  • Confirm Requirements
  • Manage Reusable Assets
  • Write SOW Deliverables
  • Staff Projects
  • Manage Projects
  • Manage Partners
  • Close Projects
  • Governance
  • Reusability

Metrics to consider: Resource Capacity, Project Progress, Bench Report, Asset Track 

4. Order to Cash

  • Manage T&E
  • Manage Practice Financials
  • Invoice Customers
  • Manage Project Financials
  • Forecast Revenue
  • Monitor UTE/Efficiency

Metrics to consider: UTE, Revenue, P/L, Rev Forecast, Project Fins, Partner Fins,