Consultants' charges usually comprise two parts: a professional fee, and any direct out-of-pocket expenses associated with the project.

Fees are generally based on the time spent by the consultant on the project. In some cases the total fee quoted is an estimate because the project, being a joint effort by the client and the consultant, is nor completely under the consultant's control. Moreover, the exact amount of work cannot always be quantified at the beginning. In some cases the consultant can quote a fixed charge, or a fixed basis of charging for the work done.

To ensure that the comparison of consultants' fees does not overwhelm the selection process, you may ask for proposals to be submitted in two parts, that is, with the fee component in a separate sealed envelope. This enables you to review the essential merits of a proposal without cost considerations clouding the issue.

Management consulting fees are similar to those of other professional firms which employ staff of high calibre. Consulting firms have to provide attractive remuneration for top-level staff, as well as substantial research, training, and information services to ensure that their capabilities are equal to the best international standards.

It is not possible to provide high-quality professional services at a low fee. Experience shows that apparently cheap professional services very seldom give value for money. An unsuccessful consulting project is expensive at any price.