How to Empower Project Managers to Manage Effectively
January 21, 2020
"With Factor AE, PM's are encouraged to take the lead role in setting projects up, deciding on budgets, and determining when a project is in trouble and would benefit from help from a principal."
Putting Project Managers in the Lead Role
With Factor A/E, PMs are encouraged to take the lead role in setting projects up, deciding on budgets, and determining when a project is in trouble and would benefit from help from a principal. In other words, the feedback loop on job status will no longer start with accounting.
This puts a great deal of responsibility on PMs, but that’s what they’re getting paid for. And, this new dynamic helps firms determine who their true project managers are so they can support them and move team members who aren’t cut out for this work to other roles where they can be more valuable.
What we find is that firms that give true “ownership” of projects to qualified PMs experience some short-term growing pains as processes change but are positioned for much greater long-term success. And principals that are able to loosen their hold on project information are much happier knowing that they have highly capable and experienced PMs working hard to produce more profitable outcomes.
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