Editor’s Note: This article was originally published by the JLL Project Management blog.
By: Tim Kay, Managing Director, JLL
Let’s say your company is looking to expand its existing corporate headquarters. Clearly, you’re going to need help with the pre-project planning, scope definition and staffing, but how do you go about getting that help? Do you rely on existing workforce? Hire new employees to manage the project? Or do you outsource the project to a professional project manager?
Similar to how you’d want the best heart surgeon to perform heart surgery on you if needed, the same goes for a project manager. Expanding your corporate headquarters is a big deal and you want to invest in an experienced project manager who is able to deliver more than just a project. You want someone who can help you realize the broader ambitions and business goals for your new headquarters location.
But What Will a Professional Project Manager Cost?
The bottom line impact of hiring a professional project manager to deliver your next office space is often less expensive than many prospective clients believe. With benefits accounting for an additional 43 percent of the hourly wage rate, it can be quite costly to keep an employee on the payroll. And the costs don’t stop there. With taxes, insurance, overhead expenses and benefits, the overall labor burden rate can significantly impact a company’s bottom line.
Plus, you can’t just look at the labor burden rate when determining whether to outsource versus self-perform your next office renovation. Managing an in-house staff can take a significant toll on the payroll, including the costs to recruit, train, develop and sever employees. These costs can significantly impact an employer, but are often less easy to convey on paper. Many in-house teams can become bogged down by a large project pipeline and often lack the time, resources, and funding to receive proper training. This is where a professional firm comes into play and can add the most value. A professional project manager will roll up their sleeves and dive in to gain a better understanding of your business. They don’t just deliver against project metrics; they deliver your business strategy.
Let The Research Help You Do The Talking
In today’s competitive market where investing in workplace design is a must to attract talent and increase worker productivity, investing in a project management firm that is skilled in the delivery of these services is a win-win scenario in the overwhelming majority of client cases. The research in this paper helps convey this notion by taking a deeper dive into the nuances of self-performance and how many of the obstacles of achieving a high quality workplace can be overcome by utilizing a professional team of project managers who have the skills and resources to help you deliver your project, all while taking the burden of labor off of your books!
About the Author
Tim Kay is Managing Director and Market Leader for Michigan, Ohio and Western, PA. He is responsible for business and team development, resource management and accountability for his area. His team is responsible for the planning and execution of variable projects on a local, regional and global basis for clients such as Ally Financial, The State of Michigan, Stryker, Bowling Green State University, Detroit Riverfront Conservancy, Campbell Ewald, Kresage and others.