Your Guide To Selecting An Ace Project Management Consultancy

An experienced consultancy will have rich experience and in-depth know-how to:

  • Improve the supporting environment where the project will be executed
  • Provide leadership capabilities that can accelerate a project’s implementation

For that purpose, we are presenting a three-step guide to choose quality management consultants.

Step 1: Know your business needs that will be met by a consultancy

First things first, understand and define your business needs and goals. (And this should be done before you would request for proposals, experience and qualifications of consultancies.) After knowing your business goals (both long- and short-term), it is important to understand how a project consultant might assist in successful implementation and completion of a project (and in implicitly meeting those goals).

To clarify those goals, you must:

  • Consider each factor that might influence the defined goals
  • Take into account all the special circumstances or regulations that can affect your business in meeting those goals

On fully identifying those goals, you must map your workforce’s expertise and identify the gaps that exist. Once the gaps are analyzed, you will know your business needs better and will short-list from the set of applied consultancies easily.

Step 2: Select the project management consultancy

After defining and analyzing the business goals, you have to put a good selection process in place. The procedure of selecting the finest project management consultancy comprises:

  • Setting up a selection team
  • Knowing who will make the final decision on selection
  • Establishing a full-fledged decision-making process
  • Again determining the desired outcomes
  • Preparing a Request for Information (RFI) document for creating a proper Request for Proposal (RFP) document
  • Floating the RFI document to consultancies
  • Compiling the list of consultancies that have responded to the floated RFI doc as per your business requirements
  • Short-listing three to five consultancies and sending them the RFP document

Step 3: Negotiating the terms and the entire contract with the selected consultancy

Since the beginning of the process to find a desirable consultancy, your aim would be to improve the implementation and, most importantly, the outcomes derived from the portfolio. Now, however, you will try negotiating each and every aspect of the contract’s terms and conditions.

You need to discuss and analyze the implementation schedule that will be adopted by the consultancy. The key aspects that you will have to negotiate include:

  • Schedule (including important milestones)
  • Scope of services
  • Payment terms
  • Personnel’s responsibilities and roles
  • Over-budget contingencies
  • Termination clauses

Also, ensure that you have a lucid understanding on the way invoice will be done and on how the deadlines will be established.

By following each of these three steps, you will improve your chances of partnering with a reliable project management consultancy firm.