Benefits of Hiring a Project Manager
The foundational concepts of Project Management apply across the spectrum of industries and market sectors including LQ Consulting and Management’s areas of focus: Engineering and Construction, Energy and Resources and Real Estate. Whether you are planning the expansion of a brownfield mineral processing plant, the interior-fit-out of a large scale commercial tower or residential real estate home building development projects, you should consider the value added benefits in selecting an external independent Project Management Services Company (“Project Manager”) to manage and deliver your project(s).
The decision to hire an external independent Project Manager rests in the value or benefits in doing so. There are many factors to consider, among them being the relevant experience of the company, the ability to provide the “A” team and to leverage their network of contractors, vendors, suppliers, consultants and specialists to successfully execute your project.
The benefits of retaining and having access to the experiences of a Project Manager cannot be overstated. The best and most experienced Project Managers have taken their projects through the entire project lifecycle, from initiation to close-out, and have experienced, managed and resolved complex issues including, but not limited to, the following:
- Managing stakeholder expectations in dynamic and fast paced environments
- Progressing scope definition and moving through the stage gate process from concept to execution
- Executing greenfield vs. brownfield projects either in conventional vs. novel technology environments
- Understanding project delivery methods and selecting the most appropriate approach for the project: Design-Bid-Build, Design-Build, EPCM, EPC, LSTK, etc.
- Ability to make quick and effective macro-scale project decisions
- Managing health, safety, security, environment and community relations issues
- Intricacies of design, optimization, permitting and planning requirements
- Project communications and implementation of an effective communication plan
- Procurement strategies, change management, contractor claim disputes and negotiations
- Construction camp environment, from mobilization to demobilization, and remote location work
- Project monitoring and controlling through effective KPIs, progress measurement and status reporting
- Selection and effective utilization of project management systems and tools
- Identification, assessment, prioritization, mitigation and management of project risks
- Being aware of and utilizing lessons learned and implementation of specific industry best practices
Another key benefit of hiring an external independent Project Manager is making the Project Management independent of all other stakeholders including the asset owner(s). This ensures that the interest of the Project Manager resides directly with the successful completion of the project and eliminates potential internal conflicts if the project was being managed by the asset owner(s).
In conclusion, Project Management must be the core competency of the Project Manager you decide to retain. Their experiences, developed through years of continuous professional project management practice, will prove invaluable to your return on investment.
Project Management Consultants Based in the Toronto Area, Providing Services Worldwide
LQ Consulting and Management is a Canadian based project management services company. We provide a full range of management and consulting services when and where you need it most, whether it’s a one-time requirement or full management from project initiation to close-out. If you have any questions or would like to learn more, please feel free to contact LQ Consulting and Management at our corporate office in Burlington, Ontario.