A KPI in consulting stands for Key Performance Indicator, or quantifiable metrics to measure the performance of consultants over a period of time. Key consulting KPIs balance the changing priorities of projects, people, and revenues in a service organization, which ultimately results in a growth strategy for consulting. One of the most important KPIs of a consulting company is the level at which you use your resources. This KPI tells us the total number of working hours charged by dividing the hours charged by the total number of hours.
You can measure utilization levels in different areas: for the entire company, by team, for specific skill areas, and up to the individual level. Another important project management KPI that project management consultants should monitor is project milestones. This is the number of milestones completed according to expected and planned timelines. In short, consulting KPIs are essential tools for measuring the performance, efficiency, and effectiveness of a company or consulting project.