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Interim Management : Taming The Chaos

Mar 28, 2008
Your business project may be thrown into disarray if it loses a project manager. This may lead to wasted money, lost time, and an increased number of employees leaving the firm. One way to avoid this is to hire a consultant in the field of interim management. While most companies don’t do this, an interim manager can help your company in several ways.

Experts in the field of project management that have received the highest accolades in their areas of expertise are interim management consultants. These are the best people to work on business change projects and the interim management consultant that one seeks should always be one that is certified by the Institute for Change Management (ICM). This will ensure that you hire the best person for the job.

Secondly, interim management consultants, unlike most traditional management consultants, have specialized training in the management of business change. Traditional project managers are skilled in guiding a project from start to finish, whereas interim management consultants have additional skills and talent in taking an incomplete, floundering project and putting it back on track.

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.

Interim management can also lead to less employee turnover, which directly correlates with increased profits and happy shareholders. When an interim manager takes over a project, employees will know that it is in good hands and that they will receive the advice and leadership that they require, making them more likely to stay with the firm.

Companies often look for interim managers for many reasons. Often, they must replace a project manager with a spotty performance record. Sometimes, the high management turnover rates may sink big-time projects into chaos. If you’re wanting to raise profits and lower turnover for any reason, an interim manager process just makes good business sense.

Businesses often suffer upheaval after losing a project manager. One way to limit the problems is to hire a consultant to serve as an interim manager. Interim management consultants have experience in project management, and they have specialized training in business change projects. They know exactly how to take on a floundering project and put it back on track. An interim manager can also improve the morale of employees working on an abandoned project. Employees working under an interim manager know that they will receive the advice and leadership they require. If you want to raise profits and lower turnover, hiring an interim manager makes good business sense.
About the Author
George Purdy is a well-known public speaker on interim management and has written several articles on this subject. You'll find great resources, tips and tricks on interim management on the next site: executive coaches.
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