Universities Turning to Consultants for Help in Trimming Tight Budgets

Summary

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When Holden Thorp, the chancellor of the University of North Carolina, was looking for ways to cut the university's budget, he did what many executives in private industry do -- hired a management consultant.

The consultant, Bain & Co., came up with recommendations that it said could save the university more than $150 million a year. They included centralizing some of the university's widely dispersed procurement operations (up to $45 million) and information technology functions (up to $19 million) and simplifying its organizational structure (up to $12 million).

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Universities Turning to Consultants for Help in Trimming Tight Budgets

And since Thorp hired Bain, both Cornell University and the University of California,...

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