From Shortfalls to Success: Why Project Managers Make a Difference
Does your company face constant project delays, skyrocketing costs, and a disengaged workforce from large initiatives, leaving you puzzled about the root cause? The solution might be more straightforward than you think: a dedicated project manager.
Why Project Managers Make a Difference
When you hire a dedicated project manager, they are responsible for overseeing the project at hand, from planning and execution steps to monitoring progress and evaluation. These professionals help ensure that business projects are achieved on time, within budget, and to the expected quality standards, all while keeping team members updated on progress and addressing any issues that arise along the way. By having a dedicated project manager on board, your company can streamline its processes, improve communication and collaboration among team members, and ultimately achieve its strategic goals more effectively.
How Project Managers Boost Efficiency and ROI
The Project Management Institute (PMI) highlights a stark difference in project success rates between companies with strong project management practices and those without. Companies excelling in project management boast a 92% project success rate, while those lagging behind have only a 32% success rate. Furthermore, top-performing companies waste just 1.4% of every dollar on projects, compared to the 29.1% wasted by their less successful counterparts.
Ask yourself: Is your company a champion or an underperformer? Champions complete over 80% of their projects on time, within budget, and with the desired outcomes, while underperformers struggle to meet these standards in less than 60% of their projects.
If your company is struggling to achieve successful projects, doesn't track project outcomes or lacks skilled project managers, especially in change leadership, then it's likely that you're closer to the underperforming end of the spectrum. In such cases, it's important to consider the benefits of hiring temporary or part-time project managers. These professionals bring specialized skills and expertise that can significantly enhance your project's performance and enable you to achieve your goals more efficiently.
Related Read: The Power of Collaboration: Integrating Advisors into Your Supply Chain Strategy
Supply Chain Management Expertise
At Waypost, we take specialization a step further, particularly in supply chain management. Our project management advisors possess extensive expertise in supply chain operations and project management, enabling them to foresee and mitigate potential setbacks, ensuring your projects remain on track and within budget.
By integrating dedicated, skilled project managers, your company can shift from barely meeting goals to consistently achieving project success.
Waypost Advisors is an end-to-end supply chain and resourcing solution. We offer expertise in procurement, inventory, project management, planning, transportation & warehousing to fit the needs of your B2B manufacturing or distribution company. Our advisors can provide you with the resources and expertise to tackle your supply chain challenges while allowing you to still focus on running your business.