The Olin Business School can help solve the challenges facing businesses. When a business sponsors a Practicum project, four Olin students tackle a problem defined by the client. These semester-long consulting projects, supervised by an Olin faculty member, produce high-impact results at a modest cost, and can include either Olin MBA students or upper-level BSBA students (as requested by the sponsor). Olin students have strong incentives to excel at their project; they receive a grade, three credit hours, and a practical learning experience. Olin students have conducted more than 220 Practicum projects for more than 160 organizations, on topics including market research, cost analysis, best practices, pricing, distribution, operations, acquisitions, information systems, strategy, and entrepreneurship.

Organizations interested in applying to work with a student consulting team should submit an online application including a background of the organization, description of the consulting project, and suggested deliverables. The Center for Experiential Learning (CEL) at Olin will help refine the project description to ensure that the project is valuable to the organization, educational for the students, and can be completed in the semester timeframe. Students will apply for a project by submitting their résumé and a one-page narrative describing their interest in the project. Organizations will review student applications and select four students for the team. The organization pays a $16,000 fee to sponsor the project, in addition to any out-of-pocket student costs, such as long distance phone charges and travel outside the St. Louis area. Many organizations ask their student team and faculty advisor to sign confidentiality agreements. The CEL reviews proposed agreements in consultation with the Washington University General Counsel's office.

• Practicum teams work as an independent consulting team, devoting a minimum of 150 hours per person to the project, for a team total of at least 600 hours.
• The faculty advisor, a specialist in the project area, contributes 25-30 hours of mentoring and instruction.
• Projects run during the fall and spring semesters, beginning in early September or January, and run the length of the semester which is approximately 16 weeks. (See the CEL calendar for specific dates.)
• The sponsoring organization's time commitment will vary with the nature of the project. The team will need access to the data and people necessary to fulfill the project goals.
• The students will not report for work at regularly scheduled intervals, but some projects may require weekly contact or on-site visits.
• Near the end of the project, the sponsoring organization may need to spend several hours working with the team while the students refine their final presentation.
• At the conclusion of the project, the student team submits a written report and makes a formal presentation to an audience of the sponsoring organization choosing.