Risk Management Consultants Emphasize Project Parameters and Steady Dialogue

At a Risk and Insurance Management Society (RIMS) meeting consultants and risk managers gathered to discuss consultant and client relationships. Choosing a consulting firm, large or small, depends on the project and the rapport established. Project goals must be clearly defined. Misunderstanding of goals is the area of greatest client dissatisfaction. Project scales must be outlined. Consultant project personnel should be specified to avoid the vanishing principal phenomenon. Clients should be flexible on personnel to allow for a depth of experience. Risk managers agreed that a consulting firm should offer no other service to a client. If a certified public accountant (CPA) house is doing the consulting, another firm should be chosen to do the audits. It is cost and time efficient to a consulting project to have a highly trained and experienced risk manager with the client.