Even the FT is on the case now:
https://on.ft.com/4byxAVT
From what I see Aramco is in a consultancy death spiral, fuelled by bogus single source contracts and backhand deals. Somebody is making a LOT of money.
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McKinsey have worked with Aramco since the 1970s, it’s a long-term degenerative illness, eventually the patient will expire.
Has always been the case, more or less. People were joking about sums spent and value received from consultants back in 2002. Ever heard the old trope, 'the more things change, the more they remain the same.'?
“They’re going to be spending say $10bn on a capital programme and need to ensure it’s money well spent . . . if that 1 per cent spend on consultants means the programme doesn’t run over by 10 per cent that is a rational expense — even if people in the ministry don’t necessarily see it that way,” said an executive at a big consulting firm."
I laughed so hard when I read this that I nearly soiled my pants! Never thought of consulting goons as having a sense of humor, but I guess I was wrong ...