A project manager plays a vital role in overseeing project plans, task allocations, mitigating risks and ensuring the project team focus on their duties. In short, having a skilled project manager will increase the potential for a project to be profitable, successful and delivered on time.
In today's market, there are several options when it comes to hiring a project manager. Contract project managers can be a great solution, we have broken down some of the key reasons why, and some questions to help you figure out if hiring a contractor over a full-time employee is right for you.
Why Hire a Contract Project Manager over a Full-Time Employee
You might assume that project management contractors are an expensive option, however, contractors should be seen as a way to save money and deliver a project on time.
Permanent employees come with additional costs such as annual leave, public holidays, pension, health care, PRSI and share options. Contractors are only paid for the days they work and aren't obliged to the additional costs as outlined above.
It's also worth noting that contractors require little or no training, which again can save on budget. Costs can range from �400 p/d - �650 p/d excluding VAT, depending on the experience and skills that you require.
Depth of Experience
Hiring a contract project manager gives you access to an experienced PM (Project Manager) who has usually managed multiple projects across different industries and organisations.
A 4PM survey found that more organisations have a project failure rate of 70%, and the main reason for this was poor project management.
When you require specialised skills, your organisation may not have these skills available within your internal staffing. A contract project manager can be the answer as they can be hired with a very quick turn-around from interview to commencing on-site, within the week in many circumstances.
According to Field Nation, 'The contingent workforce has been on a sharp growth trajectory for the past decade. Currently sitting at 41.5% of the average company's overall talent pool'
Available to give 100% Focus
According to a PMI study over 50 % of projects fail due to a breakdown in communications. This can lead to expensive rework, delays, mishaps and ultimately unhappy customers.
Contract PMs, however, won't have any distractions when it comes to internal operational and administrative duties. This allows the contract PM to be more productive and give their focus to the project.
Contractors can be hired on a short-term basis. This can be an advantage to a business when a project is completed ahead of schedule or, on a rare occasion, cancelled. This is all catered for with a detailed contract to protect both sides.
Employing a PM contractor can also be a way to 'try before you buy'. This gives you an opportunity to see how the PM performs before engaging with them longer term.
Hiring a contract PM is also useful if you have peaks in workload on the project and need to cut staff at separate intervals, ensuring that no redundancies need to be made.
Speed and Efficiency
For larger projects when speed is of the essence, hiring contract PMs quickly can be vital. Contract PMs are generally readily available with lower notice periods than perm staff.
At Cpl, we have a dedicated project management recruitment team with 8 highly experienced consultants. We can provide a shortlist of skilled Project Manager contractors who match your requirements within the day.
The team have a large network with a high volume of repeat experienced and referenceable contractors assigned to various client projects. We pride ourselves on our expert knowledge, delivery and incomparable service.
Is Hiring a Contractor Right for you?
Below is a list of questions which will assist you in establishing if you need to hire a contract project manager:
- Do you need a Project Manager for a short-term role?
- Are you under-resourced but don't have enough work to require a full-time role?
- Do you need big results on a small budget?
- Do you need results rapidly for a time-sensitive project?
- Does the project require expert knowledge?
- Do you have a project that needs to be rescued?
- Do you have a need to cover extended leave on a project?
- Who can help you hire the best and most cost-effective Project Manager?
Hiring a Contractor for your Business
Cpl' PMO team work with organisations in the SME, Indigenous and MNC sectors including Aviation, Financial Services, Insurance, Technology, FinTech, Telecoms, Pharma, MedTech, Healthcare, Utilities and Academic. We also support a number of state bodies and government departments.
If you decide that you do need to hire a contract project manager or you would like to hear more about our contracting service, please contact PMO@cpl.ie or reach out directly to Simone (01 614 6009) or Andy on (01 614 6114).