Interestingly, fees have not risen significantly for 30 years, after adjusting for inflation. For consulting work focused on an objective, such as direct cost reduction, this approach can make good sense. However, the results of many management consulting projects are intangible or hard to measure. For clients dealing with limited budgets for consulting assignments, predetermined fixed fees are often more attractive. Driven by Ideas Management consulting is an idea-driven profession.
Consulting firms boom and fade as tools such as reengineering go in and out of fashion.
These are marketing terms. For the majority of consultancies, the most important asset is its people. Over time, consulting firms that do the best work for clients are ones with the best people. Looking ahead, the remainder of the 1990s will be boom years for consultants. The profession has a fertile, creative base with thousands of small firms offering rich expertise in specialized areas.