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It's not a budgetary issue. Generally the consultants are brought in to bring about a conclusion that the managerial team already decided upon. The expense and prestige of the consulting firm now backs this conclusion with sunk cost fallacy, and the managerial team has political leverage to push forward with their plan.

And, if it fails, political cover.

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And to that end, the elite degrees confer a sense of authority and prestige. Additionally, "sounding smart" is a skill that such students have cultivated over the years in addition to but independent of possibly also being smart.

Huh, that got a bit convoluted near the end.

Think bulshit artist but with brains

Can confirm. Fake it till you make it. But with a really smart person who can fake extremely well.

This.

People bring in consultants for one of two possible outcomes:

1) Rubber stamp a preconceived conclusion or idea;

2) Test out an idea and take the hit if it fails.

Basically, they are there to ensure a win-win scenario for the commissioning member(s) of management.

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