More than ever, most companies, large and small, national, or international, are under increasing commercial pressure. The reduction in income for many due to the recent pandemic and various levels of lockdowns has meant that budgets have been cut, internal resources reduced and the timescales to complete a project are becoming ever more challenging; yet still, an increase in productivity is demanded.
A leading digital marketing agency in Lancashire that works with many industrial clients has noticed this pressure amongst their customer base and even successful companies constantly reviewing their operations
Today’s businesses cannot always provide the focus and time to deliver projects effectively when the day to day need to concentrate on the supply chain, production issues, and profitability of the business are clearly more important. Businesses are struggling to find the right expertise and skill base at the right stage of a project, and therefore, suffer additional and unplanned costs, delays, and technical problems on projects through poor conception, planning, purchasing and project delivery.
One solution to this problem is to employ the services of a professional project management company that has not only management and consultancy expertise, but also knowledge of your sector or industry. These Project Management Companies can ensure that by utilising an outside professional organisation for Project Management services, all the clients’ project objectives are met in full. These companies can provide a great deal of consultancy advice and their core business involves all elements of the project lifecycle from project inception, (including feasibility studies, capital justifications and front-end engineering) right through to the detailed design and construction phases (including the delivery of full turnkey projects). Their extensive experience across a wide range of industries encourages the cross fertilisation of ideas and the adoption of best practice techniques and are widely acknowledged by their clients as the best engineering consultants
Project management is both a skill and professional service and covers many industries including IT, process engineering, construction, and factory relocation services. Some organisations attempt to project manage a range of services internally but when the project is particularly large, or if the project is outside the company’s main core skill set, then employing an external project management company will prove extremely valuable and will reduce your costs.
The utilisation of specialist Project Management companies and their support services provides better initial planning and assessment of opportunities, risks, and threats. It provides a greater opportunity of identifying problem areas while there is still enough time to take appropriate corrective action, allowing flexibility for alternative plans of attack. The successful Project Management service offered by professional consultants concentrates on three primary areas of the process: time, cost, and quality. This approach ensures a joined-up structure for managing all three.
Top Project Management Tips. Our top tips for successfully managing a large project are:
- Create a short list of Project Management Companies that specialise in your sector
- Ask companies in your sector if they have used a project management company
- Obtain references
- Check credentials thoroughly
- Make sure you receive expert advice from day 1
- Set clear project objectives and a defined scope
- Use a structured process for managing risk
- Keep a tight control on budgets at all stages of the project and check these against benchmarks
- Ensure you carefully manage the communication channels and supply chain relationships
- Make sure you deliver the project completed on time and on budget, as originally intended
- Throughout all stages of the project, make sure you measure performance through key performance indicators.
Working in collaboration with clients at an early stage, companies have helped reduce costs, provide a flexible and responsive resource, and given access to new technologies, skills, and the necessary expertise from simple to highly complex projects. You might think you have the skills withing your organisation to successfully manage a capital expenditure project, but the reality is that unless its your day-to-day work, you are very likely to come up short