Project Management: 4 Reasons You Should Rent Instead of Buy

Project management is a versatile discipline that caters to the unique requirements of clients across various industries. Choosing the right type of project management approach is crucial, and it often involves deciding between hiring an organic project manager or engaging a consultant. In this blog post, we will explore the key reasons consulting is a great and necessary option for your project management program needs.

1. Expertise:

They say having the right tool for the job is essential, and this is particularly important when it comes to successful project delivery. It is vital to assemble a project team that is comprised of individuals with relevant experience, a drive to succeed and a deep understanding of the project’s complexities.

• Access to management professionals with diverse experience in niche projects, industries, and complexities
• Leverage the collective expertise of the entire consulting firm, rather than relying on a single individual
• Learn valuable lessons from project deliveries with different clients and applications
• Gain insights into industry best practices and emerging trends to enhance project outcomes
• Consistency of service
• Higher retention rates versus staffing agencies
• Accountability to the firm and not the individual, ensuring your needs are met

2. Resources:

In the world of Project Controls, value engineering takes center stage, with technological advancements and an expanding service sector offering many options. To ensure project success, it is crucial to leverage the best available resources. As consultants acting on behalf of the owner, they strive to provide optimal options for managing and delivering the project.

• Access to proprietary and state-of-the-art business controls and best practices
• Tap into the cross-functional capabilities of the consulting firm, including manufacturing, engineering, and architecture
• Benefit from software knowledge and implementation capabilities
• Leverage professional relationships cultivated by the consulting firm
• Obtain cost-effective solutions through the consultant’s ability to negotiate favorable contracts with vendors and suppliers which is possible through the firms understanding of market rates and materials pricing, leveled against other projects in the company

3. Scalability:

Business scalability is a critical aspect of growth, enabling companies to expand their operations to meet future goals. Flexibility serves as the foundation for this scalability, allowing companies to increase staffing and undertake projects that facilitate operational growth.

• Maintain staff overhead through consulting firms
• Ability to contract consultants specifically for projects or designated periods and scale down immediately when required
• Augment full-time staff with consultants, with the possibility of retaining them
• Qualification and training in innovative technologies and equipment
• Access to a pool of specialized talent that can be quickly mobilized to meet project demands, ensuring timely delivery

4. Networking:

Professional networks play a pivotal role in most business models, particularly for expanding companies. The ability to rapidly expand one’s business network by leveraging consultant resources is not only beneficial for individual projects but also for overall business growth.

• Consultants bring their established professional networks to the table
• Access and leverage the expansive business network of the entire consulting firm
• Project successes are marketed by the consulting firm, enhancing their project portfolio
• Gain access to new business opportunities and partnerships through the consultant’s industry connections

Conclusion:

Building the right project team may seem daunting, but understanding the most suitable project management approach for your endeavor can simplify the process. Assess whether you have in-house expertise to confidently deliver the project and handle its complexities. Consider if you have access to the necessary resources and networking connections required for successful project execution. Lastly, evaluate if your business can scale and handle additional projects while one is ongoing. If you struggled to answer any of these questions, consider hiring a project management consultant.

Contact us today to discuss your project needs!