When your business loses a project manager, the project itself can be thrown into chaos, leading to wasted expenditures of time and money, as well as employee dissatisfaction and high turnover rates. A solution that most businesses never consider is the hiring of a consultant who specializes in interim management . Below, we'll outline some of the benefits an interim manager can provide for your company.
First, interim management consultants have a great deal of experience in the ins and outs of project management , and have received the highest accolades in their fields. Therefore, you can be assured that you are hiring the best person to take on your business change projects . Looking for an interim management consultant certified by the Institute for Change Management (ICM) is a great way to ensure you are hiring the best person for the job.
Second, unlike traditional management consultants, interim management consultants have undertaken specialized training in business change. They know exactly how to take a floundering project midway through its development phase and put it back on track. A traditional project manager can complete a project start to finish, but may have no idea how to jump into a partially completed project.
Next, you should be aware that hiring interim managers is a proven strategy for success. A recent study by the Institute for Project Strategy in Business (IPSB) has suggested that interim managers tend to complete projects 25 percent faster than traditional managers. As if that wasn't enough, their projects tend to be more likely to be on time: 72 percent are finished in time, compared to 60 percent of projects led by traditional managers.
Decreased turnover is also a direct result of using interim management. As a business owner or manager, you know that turnover can equate to lowered profits and stockholder unease. When an interim manager takes over a project, employees are more likely to feel that they are receiving good leadership and guidance, making them less likely to leave the company.
Companies seek out interim managers for a variety of reasons. Sometimes, they need to replace a project manager with a problematic track record. Other times, high management turnover rates can plunge high-ticket projects into chaos. If you are looking to increase profits and decrease turnover for whatever reason, an interim manager process equals good business sense.
Interim management consultants are experienced in the intricacies of project management, and respected by their peers in the field. Therefore, the client can be sure that they are hiring the best person to take on challenging business change projects. Unlike traditional management consultants, interim consultants have undertaken specialized training in business change. They know exactly how to take a floundering project midway through its development phase and put it back on track. Selecting a consultant certified by the Institute for Change Management (ICM) is a great way to ensure that the best person is hired for the job. Hiring interim managers is a proven strategy for business success.
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