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Project Manager : Project Manager June July 2012
Is interim management a valid career? As demand for interim managers grows, more project managers are choosing short-term gigs over more traditional work arrangements. find out the pros and cons of choosing interim management as a career. • cAREER cEntRE Pros and cons of being an interim manager the decision to become an interim manager should be a considered choice, said richard dunks. THE PROS 1. Higher remuneration: often above market equivalent for similar permanent roles. 2. Fast-track experience: more scope to work in different industries and commercial challenges. 3. Effective outcome delivery: it’s often easier to get required results by not being a permanent member of staff, as you aren’t drawn into organisational politics and bureaucracy. 4. Networking: meeting more people leads to wider networks. performing well in a role can bring referral work and build your profile (if you actively cultivate contacts) – especially with specialist recruiters and private equity firms who have a similar need for proven performers. THE CONS 1. Lack of acceptance from existing teams: it’s harder to become part of the executive team and be trusted as a leader of the business due to the project nature of the role. 2. Lower security: there is rarely a guarantee on contract length, although initially there may be a negotiated term on the project. if major projects are shelved or axed, interim managers and contractors are always the first to go. 3. Inconsistency in income: there can be long gaps between assignments, so it is important to look for the next opportunity as your current assignment nears an end. 4. Sourcing and winning work: this is a competitive market for lucrative contracts, so develop a strong suite of skills and hone your ability to pitch for work. INTERIM MANAGEMENT IS EMERGING AS A LEGITIMATE CAREER PATH FOR project managers, according to Richard Dunks, Managing Director of business transformation consultancy Vantage Performance. Demand for interim managers in Australia has increased steadily, Dunks said, and it is becoming a more attractive and recognised career option. “Australian businesses are embracing specialist expertise for specific internal projects and restructuring activities. We are a bit slow off the mark though, as Australia still lags Europe and the US in adopting this trend.” Interim managers can be used to strengthen an existing executive team, lead a specific project, manage a crisis, fill a short-term specialist skill set or transform a business, he continued. “Interim executives need to be high-achieving, proven business leaders, capable of stepping into critical roles at short notice. “ With the current multispeed economy, there are promising opportunities for quality interim project managers in Australia across a wide range of skill sets and sectors.” ••• 36 Project Manager australian businesses are embracing sPecialist exPertise
Project Manager April May 2012
Project Manager Aug Sept 2012