In any meeting, these words will come up a dozen times, and although you know what they mean, the sheer number of times they are said is comical. So, whenever you are bored in a meeting, play bullshit bingo. You are welcome.
A:
A-B Testing: Also known as split testing, it is a method of comparing two versions of a web page or app against each other to determine which one performs better and yields higher results.
Actionable insights: Information or data-driven findings that can be directly applied to improve a situation or decisionmaking process.
Agile: This term originated in programming, together with the agile methodologies. Agile can be used in terms of scrum or agile project management, where a project is organized in weekly or two-week sprints.
B:
Billable/chargeable: It refers to the hours or services that a consultant can invoice to a client for their work on a specific project or task. These are the hours that directly contribute to revenue generation for the consulting firm. Non-billable hours, on the other hand, typically include administrative tasks, training, or internal meetings that do not directly generate income but are essential for the operation of the consulting firm.
Big data: Large and complex data sets that require specialized processing tools to extract meaningful insights.
Big picture: It means to zoom out on an issue or topic and look at it from a strategic or bird’s-eye perspective. It means abstracting the issue to a point where you can put it into perspective to see/deduct what comes before and after the topic and to analyze what impact it may have on other areas.
Blocking points: Blocking points in consulting refer to obstacles, challenges, or issues that hinder the progress of a consulting project or prevent it from moving forward smoothly.
C:
Change management: The structured approach to transitioning individuals, teams, and organizations from the current state to a desired future state.
Circle of influence: It represents the group of stakeholders whom a person or organization can directly affect or have an impact on through their actions or decisions. These stakeholders are within the sphere of control or influence of the individual or entity creating the stakeholder map. Understanding the circle of influence helps prioritize efforts and resources for effective stakeholder management by focusing on those who can be directly engaged or whose opinions and actions can be influenced.
Core competency: The primary area of expertise or capability that sets a company apart from competitors.
D:
Deep dive: Also called root-cause analysis; a classic way is to ask “why” five times. This generally means to look at the numbers, see where they are coming from, and explain to yourself why they are this high/low, or how they compare to the average.
Deliverables: Tangible results or outputs that a project or task is expected to produce.
E:
Elevator pitch: A concise and compelling summary used to introduce a product, service, or idea in a short time span, such as an elevator ride.
End-to-end: When thinking of a process, you always have a beginning and an end. This keyword refers to being able to see how the issue you are currently working on is influenced by or impacts the previous and later stages of the process.
EOD/EOB: End of day, or end of business. This is a term used frequently to describe a deadline for a task. Since in consulting, the end of business is usually the end of the day, these terms are used interchangeably. In a nine-to-five job, you would call five o’clock the end of business.
Escalation: When something is blocking the progress of the project, you need to tell your manager or client counterpart about it (escalate the situation up), so that she can solve the situation.
F:
Fast track: This is a term for people who get promoted quickly. Can also be used as: for projects that are approved/ staffed/worked quickly, possibly skipping some usual approval processes (e.g., a senior leader’s pet project).
G:
Game changer: A disruptive idea, strategy, or innovation that fundamentally alters the dynamics of an industry or market.
Governance: Describes the organizational structure in terms of who reports to whom. When doing a reorganization, this is a necessary step to define the roles and their circle of influence.
H:
Hot desk: You do not have an assigned desk in the office; every time you come in, you sit somewhere else. It’s hot because you only sit on it for a day.
J:
Jour-fixe: The weekly meeting you have with the client to go through the tasks you did last week, the ones you will do next week, and any risks or blocking points.
L:
Lean: A term coming from Lean Six Sigma, a methodology on how to run operations in a company as efficiently and perfectly as possible, without a lot of unnecessary steps.
Leverage: To use something to the maximum advantage, such as resources, technology, or innovation.
Low-hanging fruit/quick wins: Terms used to describe the usual monetary gain you can bring the client if you change some small things quickly. Also, ways to gain quick progress or things that will bring bonus goodwill (for instance, with customers or local governments) with little or no effort.
M:
Mission critical: Refers to tasks, activities, or systems that are essential and crucial for the successful operation and fulfillment of an organization’s mission or objectives.
Moving the needle: Creating a noticeable and substantial impact on a particular outcome or performance indicator.
O:
Outside the box: Thinking creatively and unconventionally to find innovative solutions or ideas.
P:
PlsFix: When your manager sends you an email with an attached PowerPoint slide and asks you to “fix” them. This means she wants you to make them visually appealing, check for typos, align boxes, make sure the header and footer are in the right place, etc.
Proactive: Taking initiative and anticipating future needs or challenges, rather than merely reacting to events as they occur.
R:
ROI: Return on investment is a financial term. When calculating a business case, the ROI needs to be clear for the client to show the benefit of the project—how much more money/ customer satisfaction/employee retention benefits the client because of your project.
S:
Scrum way of working: Scrum is an agile project management framework that focuses on delivering value through iterative development. It divides work into time-boxed units called sprints, usually lasting two to four weeks, during which a crossfunctional team collaborates to build a product incrementally. Scrum emphasizes regular inspection and adaptation, with a focus on transparency, communication, and flexibility to meet changing requirements.
(Agile) Sprint: At the beginning of each sprint the list of customer requirements is created according to priorities, and during the sprint, the tasks are then completed. At the end of a sprint, the outcome is reviewed by the client. This is an iterative way to build software or manage a project.
Steering committee: A group of stakeholders or senior executives responsible for providing guidance, direction, and decision- making on important projects or strategic initiatives.
Synergy: Similar to win-win, is used frequently to describe a business situation or rationalize any decision. One of those fluff words that basically means that you try to leverage each other’s strengths to come to the best possible outcome.
T:
Thought leadership: Establishing oneself or a company as a recognized authority and innovative thinker in a specific field.
Timesheet: As a consultant you earn money for the company if you are billable/chargeable. This means that you are on a project and the client is paying your daily fee. It needs to be transparent how much you work, and you need to book your hours on specific projects. You hand in your timesheet, usually in the middle of and the end of the month. If you forget, you get a million emails reminding you.
V:
Value add: An additional benefit or enhancement that increases the worth or quality of a product, service, or project.
W:
Win-win: This term is used to describe a situation where the parties involved are each pursuing their own interest but are meeting somewhere in the middle with a specific decision so that both parties get something out of it.
Numbers:
360-degree view: A comprehensive and all-encompassing perspective that considers multiple angles or viewpoints.
5 whys: A problem-solving technique involving repetitive questioning to identify the root cause.