April 05, 2011

consultants could be ineffective

Asset management is quite broad and there are many aspects needed to be considered. Obviously, none of the companies can focus on every perspective in asset management and also, it is impossible to work on each of the points because of the cost of time and money. Therefore, companies must choose the must crucial parts in their asset management. In the presentation, our role is the consultants and we found that it is a difficult task. One of the main reason is we aren't familiar with the conditions in WaveRiders. We spent a lot of time in identifying what assets WaveRiders could have and trying to search for the potential problems that these assets may generate. Thus, I can understand why some companies don't trust consultant firms. No one can be as familiar as the employees in WaveRiders do in understanding the situations with WaveRiders. If the consultant firms fail to have a clear picture of WaveRiders, it is impossible for them to identify the problems. Take the health and safety management as an example. We don't know exactly what assets WaveRiders has, we don't know what is the most dangerous equipment and material, we don't know what happened before in WaveRiders. Employees in WaveRiders may not be experts at asset management but they know their company better than others. Specialists in consultant firms are good at the asset management but perhaps they have no idea about WaveRiders before they receive the project. So it is hard to say who is better at doing this task.

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