Kronos

Why businesses need to invest more in project management advisory in 2021

project management advisory

Summary

2021 follows a year of great turmoil. The effects of 2020 are long-lasting and require special efforts to overcome the lingering impacts of the COVID-19 crisis.

Here is why project management consulting offers a unique method for businesses to boost their value in 2021. 

It builds internal value: There are three main ways through which project management consulting helps build internal value. Firstly, it is through the inherent value of projects. Because projects are designed to add greater value to a business, optimising the function optimises the value of each project, in turn. Secondly, a project management consultant can arm your teams with the tools that help them maintain the function through a system of continuous improvement. This ensures that value is created long after the end of your consultancy. Finally, short-term consultancy does not impact your overhead costs. This lessens the impact on your bottom line.  

It supports better access to resources: A consultant can help you execute better resource allocation and reduce the wastage of your resources. They also help you gain access to resources that optimise your business operations in both the short and long run. This includes resources such as training, outsourcing, spend optimisation, and maturity assessments.

Respond effectively in the aftermath of the COVID-19 crisis by investing in higher value-added resources. 

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2020 was full of unexpected twists and turns, to say the least.

Whether it was individuals, businesses, or countries, there was a collective struggle to adapt to the ever-changing crisis. 

2021 comes with more promise. With the vaccine rollout well underway, it seems there may be some reason to hope for a much smoother year ahead. 

This does not mean that we are in the clear. Recovering from any crisis, no matter how big or small, requires a structural reckoning. An evaluation of the processes that helped curb the crisis’ immediate impact on your organisation and the restructuring of your priorities and values. 

This is a natural outcome, especially in the wake of COVID-19’s global destruction. The fundamental assumptions that your business model is based on, has very likely been upended by the chaos of 2020. 

That is why in this post-crisis turn of events, what businesses really need is perception.

After months spent in survival mode, it has emerged slowly that the aftershocks of the crisis and the emergencies it has created will last much longer than we may have anticipated. The vaccine itself brings its own challenges to overcome. 

What does this mean for organisations? It means that survival can no longer be the phrase used to describe their reaction to the crisis. The new normal that is fast becoming a reality in every corner of the world is based on the basic principle of survival through a crisis.  

Moving forward, businesses must follow a structured approach to building continuous value. Whether that means dedicating time to building a new organisational vision, reverse-engineering a path to action, learning and updating these plans continuously along the way, and building a team mentality, or perhaps a different approach, that works for you—a detailed strategy is necessary. 

In order to remain competitive and survive in the next phase of market changes, a business must use every resource at its disposal. This includes benefiting from the advantages of professional insights. 

The best way to receive professional insights is through industry-leading advisory services. This is especially true for key value-adding functions such as project management.

Project management advisory builds internal value 

There are three main ways project management advisory builds internal value.

The first is in the inherent value of projects. Projects are designed to inject greater value addition to your business on a set timeline. This means that when an effort is made to optimise your project management operations, the value that a project creates is also optimised. 

The second is that project management consulting gives your teams the tools they need to create value. A project management consultant may only work in your company for a short period. The impact that they have, however, is long-lasting. These professionals do not simply complete your operations effectively. They teach your existing teams to create a system of continuous improvement that ensures that internal value is being generated long after your consultancy is over.  

The third is that not only does project management consulting help build internal value, but it achieves this without escalating your overhead costs. A consultant is not a permanent employee. This short-term contract means that you receive industry-leading insights without affecting your bottom line.  

The three-pronged value that consultancy brings is essential to your business for effective crisis management and recovery. In 2021, resilience, flexibility, value addition, and crisis management are values that will lead the way forward. Consultancy services help you prepare for this fast-approaching future.  

Project management consulting supports better access to resources 

Project management advisory is a method of getting more than just insights and professional experience. 

The right advisors will be able to provide you with actionable strategies that help you achieve your long-term business objectives and goals without compromising your short-term survival. 

In addition to strategic assistance, a consulting firm will open up access to a range of resources and optimisation opportunities. These include project management training, outsourcing, spend optimisation, and swift maturity assessments.

Receiving all these advantages in one place is the key to choosing the right consultancy service for your company. Every business has different needs. In the midst of a crisis, these needs may become unclear. A project management consultant can shed light on what these could be and the best ways to ensure that they are met, despite the challenges. 

Stay prepared for 2021 with project management advisory

Ensure that your business goes from strength to strength with the swift and targeted strategies that project management consulting can provide.

Start building the business landscape of the new normal today with a more resilient and flexible project management function.

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