Skip to Content
Implementing Value Pricing: A Radical Business Model for Professional Firms
book

Implementing Value Pricing: A Radical Business Model for Professional Firms

by Ronald J. Baker
December 2010
Intermediate to advanced
368 pages
9h 56m
English
Wiley
Content preview from Implementing Value Pricing: A Radical Business Model for Professional Firms

CHAPTER 33

Step Six: Proper Project Management

Think of the end before the beginning.

—Leonardo da Vinci

Try this experiment: The following Roman-numeral equation is comprised of ten sticks, but it is also incorrect. Try to correct the equation by moving as few of the sticks as possible:

c33ue001

Did you begin immediately moving sticks around? Perhaps you moved only one and came up with X + I = XI. But as Matthew E. May points out in is book The Elegant Solution, you satisficed. He argues for the elegant solution: “Zero. You don’t need to move a single stick. Turn the book upside down” (May 2006: 152).

When professional firms are engaged, they have a tendency to jump right to the scope of work, without spending enough time on diagnosing and planning the engagement. Nor do they spend enough time in conversation with the customer on the scope of benefits. My VeraSage colleague Ed Kless offers this admonition: “Prescription before diagnoses is malpractice.”

Many professional firms are finally beginning to recognize one of the gaps in their competencies, in addition to pricing—project management. Even law firms are beginning to invest in this skill, especially with the increasing use of alternative pricing engagements. Yet an important point needs to be made:

Pricing is not project management.

The factory foreman at Toyota may be an expert in project management, planning the just-in-time inventory, ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.

Read now

Unlock full access

More than 5,000 organizations count on O’Reilly

AirBnbBlueOriginElectronic ArtsHomeDepotNasdaqRakutenTata Consultancy Services

QuotationMarkO’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.
Julian F.
Head of Cybersecurity
QuotationMarkI wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.
Addison B.
Field Engineer
QuotationMarkI’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.
Amir M.
Data Platform Tech Lead
QuotationMarkI'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
Mark W.
Embedded Software Engineer

You might also like

Pricing and Profitability Management: A Practical Guide for Business Leaders

Pricing and Profitability Management: A Practical Guide for Business Leaders

Julie M. Meehan, Michael G. Simonetto, Larry Montan Jr., Christopher A. Goodin

Publisher Resources

ISBN: 9780470929575Purchase book