Consortium Studies

Benchmarking is the process of identifying, understanding and adapting best practices from organisations to help your organisation improve its performance. The cost of a typical benchmarking study is between HK$100,000 and HK$300,000. If you want to benchmark, but find it difficult to justify such investment, HBC has the solution - Consortium Studies

Consortium studies bring organisations together so that a group of companies fund and manage the process of benchmarking. Participants receive useful data and thorough analysis that allows for meaningful process improvement - at a much lower cost than independent studies.

The Process
HBC gauges the interest in particular business processes from its members and business leaders. When it becomes aware of significant interest in a process, it proposes a consortium study. Organisations interested in benchmarking a process attend a planning/kick off meeting where the scope, performance measures, roles, responsibilities and more are defined. The study then follows the HBC methodology for conducting benchmarking studies. While HBC conducts the study, you are involved in project review meetings, data collection and discussions.

The Cost
We have designed consortium studies to be very cost effective. The cost for each participating organisation depends heavily on the specific study, but typically ranges from $50,000 to $80,000 per organisation.

The Benefits
Apart from the significant cost saving benefits of the study format, the real benefit of a benchmarking study is through the involvement of the process owners. By participating, you gain the ability to measure your own organisation's performance as compared to those companies identified as "best-in-class". You will understand what factors contribute to best practice performance and how you can adapt it in your organisation to achieve peak performance.

The Outcomes
At the conclusion of the consortium study, each participating organisation will receive a detailed report of findings, including:

• Identification of best practices and "enablers" for exceptional performance
• Critical metrics and standards for evaluating business processes
• Thorough gap analysis to identify opportunities for improvement