Project manager demand soars

Project managers are in high demand in the private sector as businesses undertake transformation projects.

Close to half – 46 per cent – of private sector CFOs and FDs are looking to hire interim project managers to cope with business transformation projects in the next 12 months, according to a report published by Robert Half Management Resources. This strong demand is driven by the need for the highly specialised skills that project professionals can provide during periods of transition. 

In particular, the focus on digitisation across all aspects of business is leading to a need for interim managers with specific skills to help with business transformation. Management and leadership enhancement, business continuity and change management are other initiatives that will prompt CFOs and FDs to hire interim project managers over the next year. 

Interim project professionals are a valuable resource for businesses that require specialist skills for key projects, and are rated highly by CFOs and FDs for both efficiency (82 per cent) and cost effectiveness (84 per cent) in achieving specific business goals. “With increased scrutiny of financial expenditure, it is not surprising that so many CFOs and FDs plan to engage interim managers to help deal with these demands,” says the report, which is based on interviews with more than 200 UK senior finance executives.

Interestingly, the research demonstrates that interim project managers are just being evaluated on their ability to manage a specific project or improve the efficiency of a business, but also on softer skills like mentoring and knowledge transfer (25 per cent) and having a successful, hands-on approach (10 per cent).

Report stats: How is a project manager's success measured? 

• 10% hands-on approach
• 25% increased revenue
• 25% knowledge transfer and mentorship
• 34% successful project or change implementation
• 37% increased efficiency and performance
• 38% cost savings

Comment

"The benefits that highly skilled project professionals can provide also indirectly benefit the existing employees of businesses through mentoring, sharing current best practices and bringing in a new perspective or solution".

“Businesses across the UK are preparing for change in managing their governance, compliance and operational risk, and preparing for business transformation,” the report explains. “Bringing project  professionals in during the scoping phase will allow for the greatest benefits.”

Luke Davis - vice president at Robert Half Management Resources