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Determining whether or not to outsource your company’s project management functions can be quite challenging. Hiring an outside firm to take on your project management needs is not the right fit for every business model, so before making this potentially risky leap, you need to assess whether this is a good move for your organization.
There are many benefits to outsourcing your company’s project management functions. There are no one-size-fits-all solutions to any specific industry, model, or size of business. With any approach to hiring an outside vendor, consider the risks vs. rewards, and thoroughly evaluate why outsourcing project management may or may not be a good move for your organization.
Low staffing. Depending on the size of your business, you may not have the employee resources to set up and support a proper PMO (Project Management Office). Many businesses do not have adequate staffing levels to allocate one or more employees to focus exclusively on projects. In fact, it is usually quite the opposite, with existing personnel already overextended and only able to focus their efforts on their existing duties.
Shortage of experienced personnel. Regardless of your company size, your existing personnel may not have the specific project management experience or knowledge to take on a project from inception to closeout. In fact, the very technical nature of the project may necessitate new specialized hires.
Lost time in hiring. When management decides on new projects, they usually want them started yesterday and completed today. Sometimes that project is outside your existing personnel’s skill. Needing to place hiring ads, interviewing, and locating a suitable Project Manager (or team) is quite a task and can add weeks or months to your project.
Cash flow constraints and considerations. There is almost always an ongoing concern for any business to monitor their budget and find the capital to fund projects. The cost to outsource your project management needs will almost always require more funding upfront but will almost always pay off in the long run. The time spent finding and hiring in-house project managers will not only add weeks to your timeline but can also lose your business income. An adequately staffed and experienced PM agency could have already completed the project in the time it took you to find some “potential fits” for the role. So it’s always worth evaluating upfront cost vs. saved/lost time in the long run.
Here at Black Badger Software Solutions, we evaluate every company and every project individually and never take a cookie-cutter approach. Contact us today to see how we can help you with your Project Management needs.
Don’t forget to look out for Part 2 of this article.
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