Acronyms 1
Every project brings on people who are specialized in a particular field
What is a SME?
Top three strategy consulting firms
What is MBB? (McKinsey, Bain, Boston Consulting Group)
Not currently on a project but billing to a G-code
What is "on the bench/on the beach"?
A brief yet encompassing speech which is delivered to introduce one’s background and qualifications for a consulting job during a networking event or job interview.
What is an elevator pitch?
Any real or anticipated concern brought up by company executives regarding the analysis or recommendations of a consultant.
What is Pushback?
Before you go to bed
What is EOD? (End of Day)
When you are assigned a specific task, the suspense date is usually preceded by this term.
What is NLT "No Later Than"?
Working without sacrificing one’s relationships, interests, spirituality, growth, and other personal needs.
What is work-life balance?
An in-depth analysis or discussion of a particular topic
What is a Deep Dive?
To contact someone about a particular issue or matter. The word is generally used in reference to emails, but it can also be applied to mobile phones, instant messengers, and other electronic forms of communication.
What is Ping?
Before most reasonable people leave the office
What is COB? (Close of Business)
Opinion without supporting facts or valid basis
What is SWAG? (Some Wild-Ass Guess)
Not at the workplace, may have an Outlook away message up
What is OOO? (Out Of Office)
A goal that can be achieved without difficulty, a task that can be finished readily, or an opportunity that can be grabbed quickly.
What is "Low Hanging Fruit"?
A three-step feedback method that starts by reviewing sound points of the project or idea presented, followed by corrective comments, and ends with praise. This approach serves to soften the impact of the criticism.
What is a Shit Sandwich?
Capture everything, but don't let anything overlap
What is MECE? (Mutually Exclusive and Collectively Exhaustive)
A set of measurable goals or objectives that signify satisfactory performance if achieved
What are KPIs? (Key Performance Indicators)
You spend your time working on these tasks that are eventually given to the client
What is a deliverable?
The number of hours billed to clients, usually expressed in percentages.
What is utilization?
A policy in which an employee is either promoted (usually within a period of time) or discharged.
What is Up or Out?
Made this up at the last minute and hope nobody notices
What is POOMA? (Pulled Out Of My Ass)
Total revenue before any fixed costs are applied
What is EBITDA? (Earnings Before Interest, Taxes, Depreciation and Amortization)
I'm going to start working on this task enthusiastically and at a fast pace.
What is Hit the Ground Running?
The Pareto principle that states that 80% of the results come from 20% of the causes. In business, it implies that managers need to determine the critical factors that require more attention. In terms of time management, it implies that fundamental issues should be addressed before less vital tasks and concerns.
What is the 80/20 Rule?
A comprehensive organizational research and analysis conducted prior to a business transaction or agreement with another party.
What is Due Diligence?