Benefits of External Project Teams
If you have important projects within your organisation, chances are you’ve wondered whether it would be better suited to have them delivered by employees internally or to outsource to an external project team. Certainly, both options have their benefits however, more and more companies are turning to external project teams. Let’s take a look at some of the strongest benefits of external project teams.
While most people may assume that hiring an external project team would lead to higher costs, this is not necessarily true. For organisations that take on new, large projects, hiring an external project team can provide a delivery solution for a set cost. The cost stops once the project is completed, unlike the cost of bringing extra resources in-house.
For many organisations, this makes a lot more financial sense than hiring a new staff member or overworking existing staff members in order to get the project done. Additionally, contracts with external project managers can specify required outcomes, helping to better ensure that the money invested leads to the ideal results in the time period desired.
One of the biggest stressors when navigating a new project is identifying staff members that have the capacity to take on leadership of the project, but not to the detriment of their current and routine duties.
An external project team is an excellent solution to this. Typically, it is rather easy to find experts available on short notice for either ad-hoc or long-term projects. Many consulting firms also have the ability to quickly provide additional resources, mid-project if the need arises. Hiring an external project team can allow you to continue to utilise your limited resources most productively.
Have you ever conceptualised a project only to see it languish over time, only gradually making progress? This can be one of the most frustrating aspects of internal project management. With a project being simply one additional thing added to employees’ roles, it can make it difficult to gain momentum on a project.
However, an external team is more focused on the project at hand. Additionally, they bring expertise that will enable them to successfully hit deadlines, improve efficiency, and meet projected budgets. External project teams can utilise a number of tools to enhance their productivity. Thus, despite the cost of hiring a project team, improved productivity can lead to cost savings over time.
The world is filled with stories of organisations that failed to adapt or progress their offering to suit the needs of their customers. For example, Kodak failed to adapt to the adoption of digital cameras. Additionally, Blockbuster waited too long to realise the customer preference for streaming services. While these are extreme examples, they also highlight the tendency for organizations to view a project within the confines of their current models, often not considering the broader picture.
External project teams bring a fresh perspective, out-of-the-box thinking and new skills and knowledge gained through many years of experience. This can enhance the success of projects by creating an environment that is a catalyst for creative thinking and new ideas. As a result, outcomes can exceed expectations and your organisation may find itself better suited to adjust to the new environment. This can particularly be a benefit for projects that are intended to bring about extensive change.
While hiring an external project team may seem like a costly endeavour, the reality is that it can actually generate significant cost savings for organizations. The established cost of a project can be easily forecasted and budgeted. Additionally, external project teams have the benefit of being fully dedicated to the project at hand bringing benefits such as improved productivity, expertise, and creative thinking which can lead to significantly reduced delivery time. When thinking about an upcoming project, be sure to consider the true value of an external project team which may be far greater that the financial investment in partnering with one.