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The amount of upheaval to a business when losing a project manager can be nothing short of chaotic and often leads to waste of both valuable time and money, not to mention poor employee morale and higher turnover. Most businesses do not consider that one great solution is to hire a consultant whose focus is on interim management for situations just like this. Next we will give details about how an interim manager can help. The interim management consultants are the ones with a great amount of experience, in-depth knowledge of project management and who have scaled the heights in their fields. This assures you that the best person is being hired for your business change projects. Hiring an interim management consultant certified by the Institute for Change Management (ICM), is a great way to ensure you are hiring the best fit for the job. Secondly, unlike the more traditional consultants, interim management consultants have generally undergone specific training in the types of changes in business which can occur. Their expertise is in turning a dying project and shepherding it through development and getting it back on track. Standard project managers can follow through on a project from beginning to end, but might not know how to pick one up in the middle. Hiring interim managers is a proven strategy for business success. The Institute for Project Strategy in Business (IPSB) recently published a study suggesting that interim managers finish projects 25 percent more quickly than do traditional managers. Furthermore, this study showed a higher rate of on time project completion for interim managers: only 60 percent of projects led by traditional managers finished on time, versus 72 percent of projects led by interim managers. Business owners and managers realize that high turn-over causes lowered profits and stockholder distress. Turn-over can effectively be decreased by utilizing interim management. Employees will feel confident about their job and are much less likely to leave a company if they feel they are receiving good leadership and guidance from an interim manager. There are many reasons that companies may choose to hire interim managers. High-value projects may be in disarray after the previous manager’s departure, or a manager with a poor track record may have just been terminated. It makes good business sense to hire an interim manager to help complete projects, leading to improved profits and reduced employee turnover. Losing a project manager can lead to chaos and lost time and money. Fortunately, hiring an interim manager can prevent this. Interim management consultants are certified to handle difficult business change projects effectively, since their training specializes in getting floundering projects back on track. Interim managers are a proven way to increase the probability that projects are completed on time. In addition, interim managers lead to less employee turnover, higher profits, and happier shareholders. To improve your project management, make sure that you have a provision for hiring an interim manager.
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