Essay About Consulting Firm And Provided Data

Consulting Problem – Statistics
Question:You are provided data on all the engagements for a consulting firm with offices in Toronto, Montreal, and Ottawa. The owners of the firm have noticed that they are losing money on certain engagements that they are undertaking. The firm was set up 50 years ago and has not changed its process, and they are outdated and inefficient. When the firm was set up it was organized with 1 Managing Director (MD) per area in Canada, and each MD was responsible for all the business in the area, no matter what their specialty was. The company is willing to reorganize and wonders if it should allocate MDs by specialty. Given modern transportation and communication networks, the company is confident that costs will not change if consultants based in one city start working in other cities. Use the data set to develop recommendations on how they can increase profitability within the firm.The company works on four types of projects, and has the following price list for the specific types of projects.Project No.TypePrice Tag1Marketing$600,0002Operations$500,0003Finance$800,0004Human Resource$300,000In addition, below is a list of all the Managing Directors at the firm, how many years they have been with the firm, their specialty, rate per week, and where they work out of.EmployeeID        NameYears withFirm        SpecialtyPay Rate perHeadquartered _        Week _        14653Tom7Finance3$4,400.00Toronto14654Mary10Human Resources4$5,000.00Montreal14655Cathy2Finance3$3,400.00Ottawa14656Brian8Marketing1$4,600.00Montreal14657Gary21Operations2$7,200.00Ottawa14658Alex1Marketing1$3,200.00Toronto