The concept of Uncertainty Arbitrage is something Victor Cheng wrote about for consulting career prep website, Case Interview. The reason clients pay consulting firms seemingly enormous fees is directly proportional to:1) What's at stake for the client if they make the wrong decision2) Their dislike for uncertainty.The greater the uncertainty and the greater the consequence … Continue reading Consulting Fees and Uncertainty are directly related
Over at the Xpera blog, my latest article just went live on the topic of Big Data Analysis for the Construction Industry. Here is an excerpt: The key—and this is truly one of the biggest challenges our industry faces right now—is how do we extract important and valuable information from the data? One huge problem … Continue reading How can making sense of the Big Data in construction projects benefit you?
Perhaps. That's the warning from Soren Kaplan, writing for Inc. on the upcoming disruption about to rock the world of business and management consultants everywhere. In an article titled, "The Business Consulting Industry Is Booming, and It's About to Be Disrupted," Kaplan states: Here's the issue: Festering underneath myriad consulting offerings, methodologies, tools, and firms … Continue reading Is the Consulting industry about to go the route of video rental stores and the Dodo?
Consulting, as a profession, is in my humble opinion an extremely honorable pursuit that can bring tremendous value to the purchasers of consulting services. But that's only when applying a very narrow definition of the "consulting." What is that definition? A true consultant is an independent professional that through the application of their unique knowledge, … Continue reading Would a consultant by any other name smell so sweet?
Both inside the industry and externally, there is an almost urgent message heralding the massive disruption already taking place in the world of design and construction. The latest entrant in the race to proclaim the end of the construction industry as we know it is none other than McKinsey & Company. Historically a management consulting … Continue reading The Construction Industry is Changing. Are you ignoring the handwriting on the wall?