How to train Management Consultants & Business Analysts

1
How to train Management Consultants
& Business Analysts
Practical guide how to train the best people that money can’t buy

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Training Business Analysts and Management Consultants is not easy. It takes a lot
of time and effort to transform a freshman into a world class Business Analyst

3
In this course I will teach you how to train your Business
Analysts efficiently (fast and with little resources).

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Thanks to the approach that I will show in this course you
will have a significant competitive advantage over others.

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Target Group What you will learn What you will get
 Project Managers responsible for
training Business Analysts and
Consultants
 Owners of boutique consulting firms
 Managers of Strategic, Analytical
Departments
 Managers of PMO
 What options you have at your
disposal
 How to chose the perfect mix of
training methods for your specific
situation
 How to estimate the costs and time
needed to create the training machine
 How to implement the training system
 Practical tips from my own experience
and practice
 Ready made templates

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The presentation consists of 5 main sections
The ideal Business
Analyst & Management
Consultant
Components of the
training machine
How big the training
machine has to be
How to allocate time for
training
How to build the
training machine

7
Thanks to this presentation you will learn
how to train Business Analysts and
Management Consultants efficiently

8
& Business Analysts
$190
$19
What you will see in this presentation is a part of my online course where you
can find case studies showing analyses along with detailed calculations in Excel
Click here to check my course

9
The ideal Business Analyst and
Management Consultant

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The ideal Business Analyst and
Management Consultant – Introduction

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You train Business Analysts and Consultants because you want to have an efficient team.
The first step is to define who you want to create thanks to you training system

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We will first start with general approach to training Business Analysts &
Management Consultants
Why we need to
define who we want
to create
Values
Profile of the ideal
consultant
Structure for
cooperation
Importance of
standardization

13
Introduction to creating
ideal team members

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If you want to do fast, efficiently good projects you have to have the right
kind of people. You can say that preparation starts with proper teaching

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You will achieve it only by defining and implementing 3 things
Values
Profile of the
ideal consultant
Structure for
cooperation

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Consulting is a teamwork so you have to define what values you want your team to
follow. This is crucial as it will be something that will be the bases for the team
culture

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Before you start defining specific values it is good to decide on 2 important
issues
Specialist Generalists
You buy ready-
made people
You grow people

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Before you start defining specific values it is good to decide on 2 important
issues
Specialist Generalists
You buy ready
made people
You grow people

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In the case of my teams I always try to instill the following values
Independent
Creates value
Support the team
Data driven
Smart lazy
Efficient
Despise politics

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Profile of an ideal
consultant

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As we discuss previously you want to turn inexperienced graduates into
seasoned consultants. This gives you greater chances of success during the
project

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You will achieve it only by defining and implementing 3 things
Tools Skills Areas of expertise
Sales Marketing Operations Finance
Current level
Target level
Problem
Solving
Sketching
Presentations
Interviewing Managing
People
Excel Power Point Access VBA

25
For your team to cooperate you have to create and teach them standards,
templates as well as turn into modules as much as possible your process and
end-products.
Standards Templates
Modules Tools

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Why team members have
to constantly improve

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You should try to improve your team due to the so called to compounding
effect. It boils down to the fact that Even if the growth is small applied over
long period of time gives big end-results
= 2,6 x StartStart x (1+10%)^10

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In practice it means that it is similar to doubling your team size

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How to teach your team
members

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The first step in teaching is to described the ideal profile of your team
member and then measure where each and one of them is
Create the ideal
profile
Measure the current
level
Prepare materials Set the pace
Set time for teaching
/ learning

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As mentioned before you have to create the ideal profile and measure
everybody against it
Tools Skills Areas of expertise
Sales Marketing Operations Finance
Current level
Target level
Problem
Solving
Sketching
Presentations
Interviewing Managing
People
Excel Power Point Access VBA

32
The first step in teaching is to described the ideal profile of your team member
and then measure where each and one of them is
Create the ideal
profile
Measure the current
level
/ learning

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Next step is to prepare the materials for teaching. In my case I went for on-line
courses not to waste my time on repeating the same things on and on
Click here to check my courses

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We currently are somewhere half-way through to mapping all the things
that a business analyst and consultant has to master
23 40

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Next step is to set the pace for each person. In this case we want to calculate
how much time he has to devote to learning to get to the ideal level
Create the ideal
profile
Measure the current
level
/ learning

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Below an example of how you can estimate the pace
What is the
difference between
the ideal and current
state
Till when I want him
to reach the ideal
state
How many hours of
trainings this entails
What is the required
pace?
 25 points  24 months  10 hours per training
(point of difference)
 0.5 hour per day

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Components of the training
machine

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Components of the training machine
– Introduction

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In this section we will talk about the following components of the teaching
machine
Past project
database
Lesson Learnt Offline courses Online Courses
Mentorship Workshops Pro-bono projects
Frameworks
creation
New Product
Development
Business
Development

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The first step is to create a database of past projects. You want to
have all your deliverables ordered in one place & standardized

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Below the approach to creating the past project database
Define templates &
standards
Create structure for
cooperation
Rework of
deliverables after
the end of the
project
Put the deliverables
in the right place
Link the materials to
the database
 If you want to have
something of high
value makes sure to
create templates &
standards
 All projects
deliverables should be
make to look roughly
the same
 This will highly
increase their value
 Gathered information
should be ordered in
the same way so that
it is easy to find the
resources you need
 Therefore, create
standard way of
naming folders and
clear rules what
should be put where
 After the end of every
project the team
should work on the
deliverables and
adjust them to
standards
 If there is a need for
that they should
create manuals how
to use more
complicated tools
 One person in the
firm should go
through deliverables
and put them in the
right place according
to rules agreed
 If some deliverables
are not clear or lack
some materials the
project team should
work on them and
modify them / add
the required content
 For easy reach create
a database that will
link to appropriate
materials in your
resources.
 The database should
allow for searches to
be done with different
criteria

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Past project database – First Phase

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We said that creating a database is a 5-step process
Define templates &
standards
cooperation
Rework of
deliverables after
the end of the
project
in the right place
the database

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Now we will go a little bit deeper into 2 first steps
Define templates &
standards
cooperation
Rework of
deliverables after
the end of the
project
in the right place
the database
 Library of slides we
use
 Examples of template
for presentations
 Examples of standard
Excel Analysis
 Folder structure we
use

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Let’s have look at the standard folder structure we use for every project
Customer name Project Name Admin
Iteration 1
RFP & Proposal
Deliverables
Project Management
Others
Iteration 2
Area A
Area B
Analyses
Presentations
Lessons Learnt

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Past project database – Simple
database with links

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In the presentation of Lesson Learnt you can find the following
elements
Project Background RFP & our Proposal Project Organization
Deliverables – short
overview
Ideas for new
products
Things we should
change
What did we do well?What we did wrong?
Other Issues

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Below the approach to creating Lessons Learnt
Create past project
database for specific
project
Meet with the team
& discuss the project
Create a
presentation
summarizing Lessons
Learnt
Present the Lessons
Learn to the Director
/ Board Members
Present the Lessons
Learn to the rest of
the firm
 Standardize the
deliverables for the
project
 Organize 2-4 meetings
during which Project
Manager and the
team assigned for a
specific project
discuss the Lessons
Learnt
 In some cases they
may be a moderator
that did not
participated in the
project
 Summarize the
Lessons Learnt in a
form of a short
presentation 50-70
slides
 Try to cover all
segments mentioned
 Present the Lessons
Learn to Director
supervising the
project
 There should be
during the meeting 1
external person that
will give independent
feedback and will help
make the
presentation
understandable even
to people that did not
participate in the
project
 The team modifies the
presentation using the
feedback
 Present the Lessons
Learnt to different
groups of other
business analysts /
management
consultants that did
not participate in the
project
 Use feedback from
each and every group
to improve the
Lessons Learnt
presentation
 Put it in the folder for
the specific project

52
The backbone of every training system are the courses. We have 2 types
of courses
Offline courses
 Delivered in person
 Can be delivered to small groups (3-12 people)
or big ones (20-100 people)
 Can take the form of a 1-5 day event where you
only go through training but may as well take
the form of regular classes (i.e. 1-2 hours every
week)
 With small groups you can do a lot of exercises
that can be checked by the teacher
 The teacher can be internal or external person
Online courses
 Delivered via some online platform
 Consumed individually by the person taking the
course
 Courses can be short ones (i.e. 30 minutes) as
well as long ones (i.e. 20 hours of content).
 Usually it takes 2-3x more time to consume it
the pure length of the content
 Usually the exercises / assignments are not
checked by the teacher
 As an add-on you can also have Q&A sessions
with the teacher

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For the offline courses we have the following process
Map what Business
Analysts &
Consultants should
learn
Decide how you
create / deliver
content
Create needed
content
Plan & Deliver the
offline courses
Modify the content
given changes &
feedback
 List all skills, tools,
knowledge that your
people should master
on different levels
 Decide whether you
address certain need
via offline or online
course
 In some cases you can
make a mix of both
methods
 Decide how will you
create & deliver the
content – internal or
external person
 Create the content to
be delivered
 Create supporting
materials
 Print part of the
materials
 Decide on who will
participate in the
courses and when
 Decide on the size of
the groups
 Plan / Schedule
trainings, classes
 Organize the venue,
all required things
(hotel, food,
transportation etc. if
needed) and manage
the groups
 Send them materials
before and after the
course
 Gather feedback
 Use the feedback to
improve the course
 Some changes may be
caused by external
changes (related to
law, new findings,
technology changes
etc.)

55
For the online courses we have the following process
Map what Business
Analysts &
Consultants should
learn
Decide how you
create / deliver
content
Create needed
content
Plan & schedule
content
consumption
Modify the content
given changes &
feedback
 List all skills, tools,
knowledge that your
people should master
on different levels
 Decide whether you
address certain need
via offline or online
course
 In some cases you can
make a mix of both
methods
 Decide how will you
create & deliver the
content – internal or
external person
 In the case of online
courses pick the
platform that you will
use to deliver the
content
 List topics & skills you
want to teach
 Create a list of
lectures
 Create a draft in paper
for every lecture
 Create Power Point
materials along with
accompanying
materials
 Deliver the content in
the form of offline
courses & modify the
materials
 Create the video
lectures
 Edit the video lectures
 Upload materials onto
the platform
 Decide on who will
participate in the
courses and by when
he or she should
master certain
content
 Allocate time for the
learning
 Give access to the
courses to selected
students
 Check progress of
students
 Use the feedback to
improve the course
 Some changes may be
caused by external
changes (related to
law, new findings,
technology changes
etc.)

57
Some things especially soft skills require human touch. For those
mentorship is a great tool. Below a few reasons why makes sense to use it
Mentor can adjust to the needs
of the student
Mentorship is less formal
You deal with business &
private problems
Mentorship helps integrate
people
Mentors can get to know
newcomers
You create a new feedback loop
You can spot faster problems

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Let’s see how you can build the mentorship / coaching in your firm
Define what you
want to achieve
through mentorship
Decide on the form
of mentorship &
frequency
Define who is
entitled & allocate
resources
Assign mentors Execute & modify
 Mentorship can have
different goals
 If you don’t define
them ahead of time
you may have
problems with proper
construction of the
program
 Usually you want to
make your employee
more productive,
develop them faster
to their fullest
potential.
 Quite often you want
to lower employee
rotation / increase
employee retention
 Mentorship can have
different forms
 You should select one
model for the whole
company
 You should define
what is the role of the
mentor, how formal it
is, etc.
 Define also the
frequency of
meetings with the
mentor
 Not all employees
have to be entitled to
mentorship
 However, you should
have clear rules that
the define what are
the conditions
 Allocate time. The
Mentor and his
protégé should have
time to meet with the
agreed frequency
 Allocate money.
Mentorship meeting
may require some
additional money
 Assign mentors to the
selected employees
 You can make it a
matching process
(both parties have to
select each other) or
1-side selection
 In some cases neither
the mentor nor the
employee have a say
in the decision
 Assignment should
be aligned with the
development path
you have selected for
the Business Analyst /
Consultant
 Make sure that the
mentorship meetings
occur with the
defined frequency
 Check on regular
bases and modify the
whole program
 In some cases you will
have to also change
the mentor – there
may be a mismatch in
expectation, the BA /
Consultant may
require different
mentor, etc.

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Let’s start with a short definition
 An event that is designed to teach participants about
certain areas or certain skills
 Usually it takes a form of a case study that is solved in
small groups (3-5 people)
 It can last a 3-5 hours or in some cases a few days (up to
3-5 days)
Workshop =

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Workshop has many benefits
It is a more dynamic /
interactive way to learn
You teach them also how to
work in groups
You simulate project
environment
Emotions help learn certain
skills
The same material can be used
for projects
It helps integrate people
You can identify certain
behaviors faster
You can use workshops to
recruit people

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& Business Analysts
$190
$19
What you will see in this presentation is a part of my online course where you
can find case studies showing analyses along with detailed calculations in Excel

63
To see an example of a workshop that we use to teach business analysts
and students to do performance improvement projects check my online
course
Can food producer case study
Click here to check my
course

65
You can deliver pro bono project to 3 main groups of
Non-profits
 In this group we have mainly all the Non-
Government Organizations (NGOs), charities,
foundations etc.
 They need help usually with the following
projects
 Performance improvement of their
operations
 Helping organize fund raising
 Strategy definition
Government or government
owned services
 In this group we government institutions,
services run by government such as:
infrastructure creation, healthcare, education,
strategy for reviving certain regions etc.
projects
 Policy definition
 Process description
operations
 Customer experience definition &
improvement
 Cost Cutting projects
Small business
 In this group we all small business with too low
revenues to be your regular customers.
 Usually it means also firms with low number of
employees
projects
 Process description
 Changing the organizational structure &
management style
operations
 Scaling the business
 Cost Cutting projects
 Creating succession plans

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Pro-bono projects offer a lot of additional benefits
You can teach Consultants in less
stressful environment
You can see the dynamics in group
work
You can learn how to do new things
without jeopardizing you relations
with current customers
Pro-bono projects offer nice referrals
for future projects
PR effect
You can show your work unlike the
projects done for commercial
customers
Networking opportunity
Potential to get or grow new
customers

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 Structured approach to a certain aspect / problem
/ area
 It helps you decide what to do and what are the
available options
Frameworks =

69
Frameworks creation offer a lot of benefits
You can use them to systemize
your knowledge
Teams creating frameworks
learn a lot during the process
Frameworks make it easy to
conduct projects
Frameworks make it easy to
create content for courses
Frameworks help the
integration
Frameworks increase
productivity during projects
They help you communicate
internally
They help you communicate
with the customer

70
Let’s see what could be the source of frameworks
Frameworks
Past projects
Independent Work
Courses creation
Lesson Learnt
Workshops
Existing 3rd party
frameworks

72
Let’s have a look at some general frameworks as well as some we have
managed to create
Strategic
framework
Sales increase
framework for
FMCG
Cost Cutting
reduction
Personal Finance
Frameworks
Issue tree
Low hanging fruit
frameworks
OEE / OLE

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Issue tree - general
Area of analysis
Area 1
Problem 1
Problem 2
Possible Reason 1
Possible Reason 2
Possible Reason 3
Possible Reason 4
Possible reasonsSuspected problems
Analysis to be
performed
Analysis 1
Analysis 2
Analysis 3
Analysis 4

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Issue tree – example – chicken meat producer
Area of analysis
Transport
High costs of transport per ton of
goods
Big level of waste and breakage in
transport
Possible reasonsSuspected problems
Analysis to be
performed
Analysis of correlation between type of
packaging and percentage of damaged
Analysis of time spent on the way and
kilometers covered in that time
Analysis of designed routes, their length
and the influence of possible changes
Analysis of fuel usage and kilometers
covered by vehicles
Analysis of load carried on the way back
Badly designed routes
Too big fuel usage
No shipments on the way back
Low usage of resources
Badly designed method of packaging
which makes the product prone to
damage
Speed not adjusted to the product
Badly organized work and schedule of
deliveries
Limitation on delivery time of finished
goods
Analysis of level of overtime, daily
organization of drivers work
Analysis of Clients’ preferences on delivery
time

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Resources needed
Impact
SmallBig
High
Low
 Things with big impact that
require little work
1
How to find low hanging fruits?
 Easy but with low impact
3
 Things with big impact yet
expensive, time consuming
2
No

76
Open hours
Maintenance Machine uptime
Uptime utilizationIdle time
60%
60%
OEE =
60 %
60 %
x
x
98%
Proportion of good quality
products
98%
35%
It means that we used only 35% of machine paid
time
In the case of machines you can measure Overall Equipment Efficiency.
Similar concept can be used to measure efficiency of people

77
Do what you do
but better
Expand TransformGo niche
Penetrate
existing
markets /
products
Target new
customers
with existing
products
Enter new
markets for
existing
products
New
products
within old
categories
New
products
expanding
brand
Go up /
down the
value chain
Capitalize on
business
assets
M&A
Improve
processes
Pricing
Cross-selling
Up-selling
Sell non-
core assets
Operational
Excellence
Optimize
Working
Capital
Renegotiate
the deals
Review
what and
why you buy
Upstream
niche
Low cost
player
Blue Ocean
Change the
business
model
Build add-on
business
Build
entirely new
businesses
Disrupt yourself
Change the
business
model
Intrapre-
neurship
M&A
potential
competitors
Copy
competitors
that may
disrupt you
Sell some
business
units

78
Let’s have a look at the general framework we can use to increase sales in
consumer goods
Increase sales
Increase distribution Increase Product Range Price & Discount Policy
Increase demand for
your product
Bigger share on the shelves in
the current distribution
Better penetration of existing
channels
Enter new channels
Enter new markets (regions,
countries)
New products within existing
categories
New categories within
existing brands
New brands
Changing price structure
Changing discount policy
Changing prices formula
Increase consumption per
capita
Shorten the lifespan of the
product
Find new customers

79
Let’s have a look at the general framework we can use to cut costs
Cut costs
Reduce usage Automate
Optimize process and
costs
Renegotiate contracts
Eliminate fully certain
expenses
Change specification – use less
of certain thing
Change specification – use
cheaper substitute
Standardized the process
using the best practice
Automate with software
Automate with machine
Simplify and optimize
processes
Replace Opex with capex
(analyze Opex vs capex
tradeoff)
Make it or buy it analyses and
if needed outsource or buy
outside
Renegotiate contracts with
current suppliers
Change the supplier
Change the form of using (i.e.
owing something instead of
leasing)

80
As you may remember we have the following general framework
How to build your
wealth
Earn more Spend less
Be more
productive
Add new revenue
streams
Invest wisely your
money
Choose your life
partners wisely
Manage your kids
properly

81
In this section we will get deeper into ways to earn more
How to build your
wealth
Be more
productive
Add new revenue
streams
Invest wisely your
money
Choose your life
partners wisely
Manage your kids
properly
Be more productive
Acquire new skills &
knowledge
Deliver value
Demonstrate that
you have delivered
the value
Ask for a raise
Change the way you
are getting your
money
Befriend people
within the firm
Network outside the
firm
Get promoted
Move from one firm
to another
Get more hours
Change your career
path to more
promising

82
In this section we will get deeper into ways to spend less
How to build your
wealth
Be more
productive
Add new revenue
streams
Invest wisely your
money
Choose your life
partners wisely
Manage your kids
properly
Reduce usage /
frequency of using /
purchasing
Eliminate some
expenses
Renegotiate prices &
find cheaper provider
Calculate Total Cost
of Ownership (TCO)
Adjust your choices
and behavior using
TCO & tradeoffs
Be healthy & in shape
Calculate the value of
your time
Do make it or buy it
analysis using value
of your time
Measure happiness
per 100 USD spent &
adjust your choices
Reduce expensive
liabilities
Repurpose assets
that don’t generate
income
Check the end
outcome of things
and is it worth it

83
In this section we will get deeper into ways to earn more
How to build your
wealth
Be more
productive
Add new revenue
streams
Invest wisely your
money
Choose your life
partners wisely
Manage your kids
properly
Sell your services
Exchange your time
for something else
(i.e. shares)
Create assets & tools
Sell or rent your
assets & tools
Create new revenue
streams using your
assets & tools
Other (i.e. create new
business)

84
In this section we will get deeper into how to invest wisely your money
How to build your
wealth
Be more
productive
Add new revenue
streams
Invest wisely your
money
Choose your life
partners wisely
Manage your kids
properly
Understand different
types of investment
assets
Differentiate
Understand the
timing
Be rationale not
emotional
Automate
investment

85
& Business Analysts
$190
$19
For more details and content check my online course where you can find case
studies showing analyses along with detailed calculations in Excel

86
Low Costs vs Expensive methods

87
We can divide the training methods into 2 main groups
Low cost methods
 Online courses
 Past project database
 Lesson Learnt
Expensive methods
 Offline courses
 Mentorship
 Workshops
 Pro bono projects
 Frameworks

89
Every team or team members are creating interesting
materials during projects / activities
SMI

90
As a company or a manager you should try to collect the
knowledge from them
SMI

91
There are ways to support knowledge collections
Get the deliverables from
every project
Get the source data
Make the teams prepare
lesson learnt
Make the team members
create trainings
Rotate the people from the
teams
Go to some meetings to
assess the value
Make the teams create
instructions
Create tools that capture
the knowledge

92
How big the training machine
should be

93
How big the training machine should
be – Introduction

94
In every business you have to set right 3 machines to be able to scale
Sales
Production
Assets
acquiring

95
Training is one of those 3 big machines that a consulting firms needs to
grow and deliver value to customers
Scalable Sales &
Marketing
Analyzes and
Presentations
Recruitment
and Training

96
When it comes to the size there are 2 dimensions
Money Time

97
Here we will talk about the money
Money Time

98
In this section we will talk about how big the training machine should be
What does influence
the size of the
training machine?
How much does it
cost?
How to calculate the
size of the training
machine
How to estimate the
budget
How to allocate time

99
What influences the size of the
training machine

100
There are certain things that impact the size of the training machine
# of people in the firm
% of employees leaving job
Range of services offered
Frequency of changes of tools,
law etc.
The show-off effect
How difficult it is to acquire
business analysts
Other factors

101
How much it costs – Case
Introduction

102
Training machine requires 2 things: money and time. Now we will go a little
bit deeper into how much money you have to invest and what influences it.

103
A few information about the firm that we will be analyzing
They have 15 on the positions:
Business Analysts & Associates
On top of that they have 3 Project
Mangers & 2 Partners
They train mainly Business Analysts &
Associates
Estimate the costs of their training

104
How to allocate time for training –
Introduction

105
We said previously that for creating and running the training machine you need
2 resources. So far, we have talked only about money.
Money Time

106
It’s time to talk a little bit about time
Money Time

107
In the case of Time there are 2 aspects that we have to consider
Money Time
When we allocate the
hours
How many hours we must
allocate

108
How to allocate time for training –
General Rules

109
There are some rules for that will make it easier for you to allocate time
for training
Have a plan and a map of content to
be prepared
Use the low seasons to create the
content
Use the low seasons to train
Use more flexible methods of
training
Define the model of training
Do some training at lower pace in
high season
Define how many hours you should
allocate to create content (pace for
content creation)
Define how many hours you should
allocate to studying (pace for
content consumption)

110
How much time you should devote
to training – Case Introduction

111
Let’s try to estimate how much time you have to devote to training. For this
cases study we will go back to consulting firm we have previously introduced

112
They have 15 on positons Business
Analysts & Associates
On top of that they have 3 Project
Mangers & 2 Partners
They train mainly Business Analysts &
Associates
Estimate the time required for
training

113
& Business Analysts
$190
$19

114
How to build the training machine

115
How to build the training machine –
Introduction

116
Training is one of the 3 big machines that a consulting firms needs to grow and
deliver value to customers. We know how big it has to be let’s see how to build
it
Scalable Sales &
Marketing
Analyzes and
Presentations
Recruitment
and Training

117
In this section we will talk about the following issues
Prepare the training
machine
How to define the
pace of creating
content
Execute & modify
the training machine
Process of building
the training machine
How to define the
budget
Pick the right mix of
methods
Decide on whether
to make or buy the
training

118
Process of building the training
machine

119
Let’s see how you can build the training machine
Define the budget
methods
Make-or-buy
analysis
Prepare Execute & modify
 Define the strategy
for the firm for the
next 3 years
 Define recruitment
model – how many
people you recruit,
from where, on what
level how long they
stay with you before
leaving, how much
you pay them in
comparison with the
market
 Define what
percentage of the
revenue goes to
training
 Define the map of
things that your
people have to learn
 Define the pace of
learning
 Decide which
methods you use and
with what frequency
 Do make-or-buy
analysis for the
training
 Prepare the content
for the activities done
internally
 Find providers for the
rest
 Schedule the activities
given assumed pace
of learning for each
and every employee
 Carry out activities
according to plan
 Modify if needed
(new employees, new
projects, change of
the content etc.)

121
As you may remember there are 5 stages of creating the training machine
Define the budget
methods
Make-or-buy
analysis
Prepare Executer & modify

122
In the first one we define the budget
Define the budget
methods
Make-or-buy
analysis
Prepare Executer & modify
 Define the strategy
for the firm for the
next 3 years
 Define recruitment
model – how many
people you recruit,
from where, on what
level how long they
stay with you before
leaving, how much
you pay them in
comparison with the
market
 Define what
percentage of the
revenue goes to
training

123
Salary ≈
The first thing you have to realize is that the salary is usually correlated
with the experience and level of knowledge
Level of experience
& knowledge

124
This fact has certain implications
You can have different recruitment
models
The training model will have to be
aligned with recruitment model
Cheaper candidates usually require
higher expenses on training
Higher training spending is a also a
retention strategy
Higher spending can help you get
better candidates in the future
The higher the rotation the faster
the pace of training
The faster the pace of training the
higher the expenses

125
Below rough guidelines on what percentage of revenues goes to training
Low
2-5%
What employee turnover / attrition
you have
 Low
High
10-15%
How wide service you provide  Limited range of services  Wide range of services
Do you need universal employee or
specialized ones?
 Specialized  Universal
What training methods you use  Low costs methods  Expensive methods
 High

126
Define the budget – Case
Introduction

127
Imagine that you have to analyze what is a better option - hire cheap employee
& devote a lot to teach them or hire more experienced yet expensive people

128
They have 20 BAs in year 1. Every year 5
leave and they hire 10 new BAs
Candidates from top schools will expect
EUR 4 000 per month
Candidates from outside top schools will
expect EUR 2 000 per month
After 1st year you give them 50% raise

129
If you hire from Top Universities you have
to spend 4% of the revenues on training
If you hire from other Universities you
have to spend 7%
You charge the customer EUR 30 000 per
1 Business Analyst per month
You have utilization rate of 80%

130
& Business Analysts
$190
$19

131
Pick the right mix of methods

132
Define the budget
methods
Make-or-buy
analysis

133
Now we will discuss the 2 step
Define the budget
methods
Make-or-buy
analysis
 Define the map of
things that your
people have to learn
 Define the pace of
learning
 Decide which
methods you use and
with what frequency

134
The mix of methods will depend a lot on the size
Micro / Boutique
 1-10 people
Small
 10-50 people
Medium
 50-100 people
Big
 Above 100 people# of people
 Online courses
 Lesson Learnt
 Online courses
 Offline courses
 Workshops
 Frameworks
 Lesson Learnt
 Online courses
 Offline courses
 Workshops
 Frameworks
 Mentorship
 Lesson Learnt
 Online courses
 Offline courses
 Workshops
 Frameworks
 Mentorship
 Pro-bono projects
 Specialized Training
Units / Research
Institutes
Main methods
used

135
Decide on whether to make or buy
the training

136
As you may remember there are 5 stages of creating the training
machine
Define the budget
methods
Make-or-buy
analysis

137
Let’s discuss in more details the make-or-buy analysis
Define the budget
methods
Make-or-buy
analysis
 Do make-or-buy
analysis for the
training

138
In make or buy analysis we compare the total cost of making and the total cost
of buying
Make Buy
Direct costs for preparing the
course (i.e. research, graphics
costs etc.)
Direct cost related to buying
the training activity
Value of time devoted to
preparing the content
Direct & Indirect costs related
to delivering the training
activity
delivering the training activity
Indirect cost related to

139
Rember also that the make-or-buy result will heavily depend on the scale as in
the buy case we have a lot of fixed costs
Make Buy
Direct costs for preparing the
course (i.e. research, graphics
costs etc.)
Direct cost related to buying
the training activity
preparing the content
Direct & Indirect costs related
to delivering the training
activity
Indirect cost related to
 Fixed costs

140
In the next lecture we will go a little bit deeper into this area
Total cost of ownership Make-or-buy analysis example

142
 All the cost related to owning or using a specific
item / thing
 It will also include the cost of lost opportunity i.e.
money not earned due to spending time on
repairing the thing
Total cost of
ownership
=

143
 Cost of buying a car
 Insurance
 Fuel
 Cost of maintenance including repairs &
parts
 Time wasted on maintenance, parking etc.
 Other i.e. parking tickets, traffic ticket etc.
Let’s compare the cost of owing a car and using a rideshare / taxi / cab
service
 Cost of rideshares

144
Make-or-buy courses – Case
Introduction

145
Imagine that you have to analyze for a consulting firm whether it
makes sense or not to produce online course devoted to Data Science

146
They have 15 people on positions:
Business Analysts & Associates
They have 3 PM and 2 Directors
Every year 50% leaves
You have to train all new employees

147
A few information about the Make option
The course will take 250 hours to prepare
& 50 hours every year for modification
The delivery will take 30 hours each time
In the group there can be 5 people
Associate / BA costs EUR 21 per hour.
Director EUR 62 per hour

148
A few information about the Buy option
The course can be also created &
delivered by external person
It this case each delivery will costs
EUR 3 800 per group
In the group there can be 5 people
Associate / BA costs EUR 21 per hour.
Director EUR 62 per hour

149
& Business Analysts
$190
$19

150
Make it or buy it – When to make
even if it is more expensive

151
In some cases even if it is more expensive to make than to buy it still
makes sense to make
There is no content on the right level
Your standard differs from the
general standards
You treat the teaching system also as
a standardization tool
You grow drastically in terms of
people
You want to keep the knowledge to
yourself
There are not specialists in a specific
area
Legal reasons & NDAs

153
As you may remember there are 5 stages of creating the training
machine
Define the budget
methods
Make-or-buy
analysis

154
Let’s discuss what you have to do in terms of preparation
Define the budget
methods
Make-or-buy
analysis
internally
rest
given assumed pace
and every employee

155
Once you have picked the right mix and decide what to make what to
buy you should set the deadlines & set the pace of preparing content
Define the budget
methods
Make-or-buy
analysis
internally
rest
given assumed pace
and every employee

156
In the next lecture we will go a little bit deeper by showing you how we
have created supply chain course
Online Supply Chain Course

157
Online course – Case
Introduction

158
Let’s see, using the Supply Chain course, how you can create content
for the training activities that you want to deliver internally.

159
Let’s see how we have created content for this course
Define the scope
Create the structure
& first draft
Prepare the
materials
Shoot the movies
and modify the
content
Edit the movies &
upload the content
 We defined which
industries we want to
cover: Retail, FMCG,
SMCG, commodity
 We have listed what
tools, skills we wanted
to teach
 We have listed the
cases studies that will
help us do that
 Using the information
on the scope we have
created in Excel the
structure and list of
lectures
 After that we have
drafted the slides in
paper for the whole
course
 We have also checked
what resources we
can use from the
things we have
previously created
 Once we had the list
of lectures & the draft
of the slides in paper,
we started
transferring it to
Power Point
Presentation
 Using the list of cases
we created the
analyses in Excel to
accompany the
lectures in Power
Point
 Once we had the
materials prepared,
we started shooting
the movies
 During the shooting
we would quite often
modify the Power
Point Presentation
 After the movies are
shot, they have to be
edited to remove all
the errors, make the
sound a bit better
 After the movies are
edited, we upload
them to the platform
along with all
supporting materials
for every lecture

160
Online course – Resources

161
For the supply chain course we have created a lot of
resources. We will shortly discuss them in this lecture

162
Below an overview of resources we have created for the course. You can
find them attached to the lecture
Separate movie for
every lecture
 101 lectures
 70 new lectures
 31 lectures from other courses
Description
Presentation in pdf
 303 slides
Case studies in Excel
 17 case studies in Excel

163
How to define the pace of creating
content

164
 The speed of creating content given your goals, deadlines
and the time needed to create specific type of content
 In the case of content creation can be measured in # of
pieces of content produced per period or man-hours
devoted to content creation per period
Pace =

165
To make sure that you deliver what you have planned you have to define
the pace of content creation
# of courses to be
done
# of man-hours per
1 course
=
# of hours devoted
per month
# of total hours
needed to finish
x
=
# of total hours
needed to finish
# of months
=
# of months
# of courses to be
done
# of man-hours per
1 course
x

166
Now let’s calculate the pace for a specific case study
# of hours devoted
per month
=
# of months
# of courses to be
done
# of man-hours per
1 course
x
# of hours devoted
per month
=
4
5 160x
=
200 hours per
month

167
Execute & modify the training
machine

168
Define the budget
methods
Make-or-buy
analysis

169
The last stage is the easiest one. You just have to carry out the plan and modify
if needed
Define the budget
methods
Make-or-buy
analysis
 Carry out activities
according to plan
 Modify if needed
(new employees, new
projects, change of
the content etc.)

170
Let’s see how your execution team will changes depending on the size of the
firm
Micro / Boutique
 1-10 people
Small
 10-50 people
Medium
 50-100 people
Big
 Above 100 people# of people
 1 internal person spends
10% of time to make sure
that the pass project
database is filled in for
every project
 1 internal person spends
15% of time to make sure
that the rest of the team is
doing the trainings there
are supposed to do
 You have 1-2 full time non-
professional (support)
persons that are arranging
the trainings and making
sure that each and every
employee is fulfilling his
development path
 You have 1 professional
person that is fulfilling the
role of Knowledge Officer
 You have 2-3 full time non-
professional (support)
persons that are arranging
the trainings and making
sure that each and every
employee is fulfilling his
development path
 Internal team that is
responsible for knowledge
development and content
production. It most cases
has from 2-5 people
 You have a small team full
time non-professional
(support) persons that are
arranging the trainings and
making sure that each and
every employee is fulfilling
his development path
 Separate Business Unit that
is responsible for
knowledge development
and content production at
the top level
 The biggest firms will have
also a Research Business
Unit and Institute
cooperating with PhD,
professors, specialist in
specific areas
Team we need to
execute the
training plan

171
& Business Analysts
$190
$19

172
KPIs for Management
Consultants & Business Analysts
Practical Guide
presentation
Check also my other presentations

173
FMCG for Management
Practical Guide
presentation

174
Strategy for Management
Practical Guide
presentation
For more information on Strategy check also my other presentation

175
FMCG for Management
Practical Guide
presentation

176
Supply Chain for Management
Consultants
Practical Guide
presentation
For more information on Supply Chain check also my other presentation

177
Essential Excel for Business
Analysts and Consultants
A practical guide
presentation

178
Top 10 courses that every
Management Consultant should
take
My super objective view
presentation

179
Top 25 books that every
Management Consultant should
read
My super objective view
presentation

180
Management Consulting Tools,
Techniques and Frameworks
A practical guide
presentation

181
How to manage a consulting
project?
A practical guide
presentation

182
Business modeling of offline
businesses in Excel
A practical guide
presentation

183
Supply Chain for Management
Consultants
Practical Guide
presentation

184
Sales Analysis for Business
Analysts and Consultants
A practical guide
presentation

185
Retail for Business Analysts and
Management Consultants
A practical guide
presentation

186
Management consultant
productivity hacks
How to be lazy and still get things done
presentation

187
Market research
Practical guide for startups and entrepreneurs
presentation

188
5 examples of business /
financial models in Excel
Practical guide how to check whether the business makes
sense
presentation

189
Essential Lean Manufacturing
for Management Consultants
Practical guide how to cut costs
presentation

190
What is an issue tree and how
to use it?
Practical guide with examples
presentation

191
Excel shortcuts for Management
Consultants and Business
Analysts
Practical guide how to work fast in Excel
presentation

192
Financial Modeling for Business
Analysts and Management
Consultants
Step by step guide
presentation

193
Management Consulting
Presentations
Practical guide how to prepare a great presentation
presentation

194
How to get into consulting
Practical guide how to pass the case part
presentation

195
How to become world class
analyst
A practical guide
presentation

196
Management Consulting
Presentations
Practical guide how to prepare a great presentation
presentation

197
Production for Management
Consultants
Practical guide
presentation

198
Business models
Practical guide for startups and entrepreneurs
presentation

199
How to create management
consulting presentations?
A practical guide
presentation

200
Management consultant
productivity hacks
How to be lazy and still get things done
presentation

201
Start and run consulting
company
A practical guide
presentation

202
How to open a successful
restaurant
A practical guide
presentation

203
On-line Business Models
A practical guide
presentation

204
MVP – how to test your
business idea without building
the product
A practical guide
presentation

205
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