How We Work
We solve problems for large companies, nonprofit ventures, and government and educational organizations. Working within a team and with the client on an ongoing basis throughout the project characterizes each engagement. There's no such thing as a "typical" McKinsey engagement, but here are some tasks that our consultants usually tackle in the course of solving a problem:
Define the problem.
Work with the company CEO or senior management through a series of meetings to figure out exactly what the problem or issue is, and the desired goal.
Break down the problem.
With the team, break down the problem into discrete parts, assign tasks, and develop hypotheses about the issue to provide a framework for the problem-solving process.
Understand the business context.
Interview relevant members of the client organization to understand how it operates, what the specific problems are and where they are, and identify data sources.
Develop models for data, gather relevant data and refine the models, analyze results, and refine hypotheses. This is where the 80-20 rule often comes into play, focusing on the most critical parts of the problem to maximize efficiency and deliver the most effective solution to the client.
Develop findings and data-model results; evaluate possible solutions and determine recommendations; present results and recommendations to client.