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McKinsey is a management consulting firm established in 1926 by an accounting professor at the University of Chicago. The company works with institutions to improve their performance, employing teams including former educators, institutional leaders, policymakers, and researchers with expertise across various education sectors such as early childhood, K-12, higher education, and workforce development. McKinsey also conducts original research to gain insight into challenges within the sector and develop new strategies to address them.
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The E&I Economic Benefit Model™ (EBM) is a powerful tool that your institution can use to measure and communicate the overall value of its procurement activities. This benefit is derived from three key areas:
Using the EBM, each of E&I’s more than 215 competitively solicited contracts have been scored with a Total Economic Benefit™ (TEB) to member institutions.
The TEB of this McKinsey & Company contract is in the range of 1.0-1.4%.
Total Economic Benefit of this Contract:
The Economic Benefit Model TEB is determined from baseline cost comparisons using historical data, competitive intelligence, market benchmarking, vendor quotes, and related criteria.
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