A multi-adviser performance review should assess delivery, coordination and usefulness without equating a favourable business outcome with good professional work. Transactions and disputes can turn on factors beyond the advisers' control. Review the defined engagement and have qualified owners assess technical adequacy within each professional remit.
A multi-adviser performance review should assess delivery, coordination and usefulness without equating a favourable business outcome with good professional work. Transactions and disputes can turn on factors beyond the advisers' control. Review the defined engagement and have qualified owners assess technical adequacy within each professional remit.
Compare delivered work with the accepted engagement letters, changes and milestones. Identify which deadlines depended on buyer information or another workstream. A fair review preserves those dependencies rather than judging every delay against the first schedule.
Separate scope completed from questions resolved. An adviser may properly complete an assessment that identifies uncertainty or recommends more work. That should not be treated as failure merely because management wanted an unconditional answer.
Review whether material assumptions were identified, assigned and reconciled. Ask the financial and legal owners whether changes reached the relevant teams before finalisation. Look for evidence of version control and clear issue escalation. Review the handover notes as well as the reports: an unresolved issue may have been clearly explained in a meeting but omitted from the record that later decision-makers actually received.
For example, if the final model and agreement used different payment assumptions, investigate where the communication process broke down. A generic instruction to collaborate better is less useful than assigning responsibility for maintaining and confirming the shared assumption record.
Ask whether updates explained what was complete, what remained uncertain and what decision was needed. Review additional-work proposals and whether specialists or personnel changes were introduced through the agreed process. Reconcile fees with authorised scope rather than judging value only by total hours.
Collect feedback from the decision-maker and the internal project team. Their perspectives may differ, and both can reveal useful strengths or problems without claiming to replace professional review of the advice itself.
Record the matters and operating conditions for which the team performed well. Identify specific corrections, such as clearer issue ownership or earlier notice of missing evidence. Avoid turning one successful project into a broad approval of every service offered by the firms.
Keep any unresolved professional concern with the appropriate qualified reviewer and process. The performance record should support a better future purchasing decision: which team, scope and coordination arrangement worked, where it did not and what the business should change before commissioning another combined engagement.
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