Management consulting as a service has become part of almost every medium to big company's daily business. Despite management consulting's high practical relevance the scientific discussion of this discipline is relatively young and needs to advance. Notably, there is little empirical research that focuses on the conceptualization and operationalization of management consulting's success factors from a client perspective. Therefore, in this article we theoretically conceptualize and subsequently operationalize critical success factors of management consulting. Also, we examine those factors' particular impact on management consulting success. Based on a survey of 255 companies and structural equation modeling, we show that six out of seven theoretically derived success factors have a significant positive effect on management consulting success. In particular, Consultant Expertise, Intensity of Collaboration and Common Vision have a strong impact on the performance of management consulting.

Purpose This paper aims to conceptualize perceived management consulting success, derive relevant success factors based on principal-agent theory and the resource-based view as well as investigate the particular factors’ influence. Management consulting has become important for improving the competitiveness of a variety of firms. Surprisingly, there is little empirical evidence clarifying what constitutes a successful management consulting project. Design/methodology/approach The authors conduct a survey to empirically investigate the hypotheses. They develop the survey instrument through a literature review, expert interviews, a pre-test and an item-sorting test. To analyze the data from 348 management consultants, the authors apply structural equation modeling. Additionally, they choose a triangulation approach by asking secondary informants about the originally surveyed consultants’ responses. Findings Initially, the authors develop the second-order construct perceived management consulting success, consisting of the factors compliance with budget and schedule, degree of target achievement, profitability as well as expansion and extension. Additionally, they develop an understanding of management consulting’s success factors. In this regard, five of six factors show a significant impact on perceived management consulting success. Originality/value According to the results, the factor intensity of collaboration is of highest importance for perceived management consulting success. Further, the factors common vision, consultant expertise and top management support show comparably strong significant influences. Yet, the authors have to reject the hypothesis about trust. This result conveys the complicacy of the consultant–client relationship and shows that building a trustful relationship between both parties is hard to accomplish.

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