Role of consultant in Project Management

A project management consultancy is a professional consulting firm with knowledge and experience in the specialized area of assisting organizations to improve their practice of project, program and/or portfolio management. These firms also focus on supporting environment and necessary leadership that enables projects and programs to accelerate the implementation of an organizations strategy and the achievement of business results. WHEN SHOULD CONSULTANCY? YOU USE AN ORGANIZATIONAL PROJECT MANAGEMENT

Assessing your organizations current practices against industry-recognized best practices will help you identify gaps in your practice of project management where a subject matter expert or consultant could help you to focus on opportunities that will drive improvements in your business performance and results. Using a project management consultancy allows you to draw on its invaluable experience. Since consultancies work with a broad array of many organizations, they encourage organizations to explore options unknown to the organization itself and then help select the most promising option to implement. Dont depend on consultancies to: Make decisions for you evaluate their recommendations for what will work best for you

THREE STEPS TO TAKE WHEN PREPARING TO USE AN ORGANIZATIONAL PROJECT MANAGEMENT CONSULTANCY

Step 1:Define what you want to do and plan for it Step 2: Select the firm Step 3:Negotiate terms and contract with the consulta

Step 1- IDENTIFY YOUR GOALS AND NEEDS AND PLAN FOR MEETING THOSE NEEDS THROUGH A CONSULTANCY

Before you request proposals or qualifications, or actively seek consultancies, determine your specific needs and goals. To do so, you need to identify the short- and long-term goals of the organization and how project, program or portfolio management consultancies might assist you in attaining those corporate goals. You want to provide potential firms with as much detail as possible about your organization and its strategies and objectives so they can develop an accurate proposal.

Make a list of your current skills Identify the gaps in expertise Determine what internal resources are available Determine the amount of work you can accomplish internally and then the work a consulting firm would accomplish. Clarify roles and responsibilities. Identifying Improvement Areas Depending on your needs you have identified, the changes you seek will relate to a specific practice area of project management as defined below. Different consultancies may have various levels of expertise in each area. Another area where there will be issues which you will need to address in meeting the goals and needs you have identified is change management. You should also consider your organizations commitment to changing your internal processes. This starts with your organizations senior leadership and their commitment to support the change initiative.

Determine how ready the organization is to accept and adopt the changes recommended by the consultancy. Most importantly, build stakeholder consensus on the need to hire a consultancy.

2. SELECT THE FIRM

Once your organization has defined its needs, you need to follow a good selection process. Consider these procedures: Identify a selection team or subcommittee Identify who will make the final decision Establish a decision-making process

Dont forget to include a schedule for the selection process

Determine your desired outcome or deliverables Identify and select the criteria for evaluating the proposals Identify potential consulting firms

Compile a list of interested and potential firms

(Use the PMI (Project Management Institute)Registered Consultant Program directory at www.PMI.org/rcp.aspx) Or use firms that your organization knows or has worked with if they fit the criteria Prepare a Request for Information (RFI) to gain information before writing a Request for Proposal (RFP)

Number of responsespre-determine an acceptable response level for the project so that if you do not get an adequate number of responses, you can evaluate whether to continue or redefine your need to get more proposals. Type of consultancylook for those with experience that closely matches your needs. Size, geographic reach, typical engagement length Professional qualificationsincluding: Breadth and depth of experience Familiarity with your industry or type of project Technical competence Ability to develop practical recommendations

Creating selection criteria:

Ability to build trust and work effectively with management and staff
Ability to manage an assignment and stay on schedule and within budget

Past experiencedid previous consulting engagements meet the clients goals? Whether they have completed in an efficient manner?

Proposed work plantheir approach to meeting your goals Their ability to bring innovation to your particular goals and needs.

Select the firm. Do not inform short-list firms of selection results until negotiations are complete with the winning firm. Step 3

NEGOTIATE TERMS AND CONTRACT WITH THE CONSULTANCY As with the selection step, the procedure is similar to negotiating and signing a contract with other types of vendors. Legal representation from both parties should be involved. A detailed contract will specify: Scope of services Services Schedule Roles and responsibilities of the consultancy Payment terms Fees and reimbursement expenses

Termination clauses (cancellation conditions)

Submit the contract to your legal and/or compliance departments for their review Make the necessary adjustments as per the comments of the reviewer Sign the contract You will now be ready to begin working with the consultancy to improve your organizations project, program and portfolio management processes and work toward greater business success. Be sure to focus on keeping the effort on course and on budget and ask for regular written reports and documentation.

By following the steps outlined here in selecting the right consultancy firm for your organization, not only will you achieve your desired outcomes, but you can build a strong, rewarding and lasting business relationship.

Technical Consultancy Organisation (TCO)

TCO were set up in the early seventies/eighties. The IDBI, ICICI in the collaboration with state level financial development institutions and commercial banks established a network of TCOs. TCOs were set up to provide under a single roof package of total consultancy services covering all stages in the project cycle. It also provides the consultancy to State Govt, state level development financing institutions and banks. The main trust of TCOs operations was in the area of preparation of project report and feasibility studies.

TCO

Feasibility studies Project Reports Project Profiles Surveys Studies

Awareness Camps Training

Studies includes Modernization, Rehabilitation, Diagnostics and Functional. TCO in Maharashtra Maharashtra Industrial & Technical Consultancy Organization Ltd. (MITCON) established in 1982 operating in Maharashtra, Goa, Daman and Diu having a paid up capital10 lacs. The sponsoring financial Institution for the same is ICICI.

Young Management graduates are entering the profession substantially. They welcome the challenge and variety of the assignments. But there is no formal course to develop them as consultant except for the Institute of Management Consultants of India.
The objective of the institute is to test by examination or competence of persons engaged in the profession and to incorporate its members only those who satisfy council in this regard. A college of consulting firm is also be formed which will concentrate on furthering the interest of management consultancy.