How do you involve experts in project budgeting?

Collaboration and communication are important in any project and program undertaking. Working with experts and other subject matter experts essentially brings on board deep insights and lessons learnt which when shared greatly benefit the execution of a given assignment and or, project undertaking. In addition to inquiring about cost of services on the market, experts come in handy for they usually have an idea of cost and price ranges off previously executed work. As such, experts come in handy when undertaking evaluations, reviews, sprints, cost and risk management as well as guidance plus oversight in ensuring industry standards and frameworks are integrated, and used to deliver projects alongside other constraints.

There is a point to mention here, Experts resources generally have a man-hour cost different from other team members, so the allocation is made strategically and only during the moment of acting on tasks that actually demand the Expert's performance. Adding hours to the Expert's performance to exchange information with other team members, or for him to act more calmly and share knowledge, even if osmotic, is very valid. The allocation of Experts is also a great opportunity to exchange information, making the support members who will be following the Expert resource improve their knowledge levels based on the Expert's performance. Working in pairs is a good strategy for this.

To optimally identify experts for project budgeting, leverage your organization's talent analytics and knowledge repositories. These platforms provide insights into internal resources skilled in specialized areas. Don't overlook non-traditional roles—a data analyst with budget optimization experience could be key. Also, tap into professional networks and industry associations for external expertise. Apply a risk-based lens to focus where specialized knowledge is most critical, such as areas with high cost variability or stringent regulations. Through a strategic blend of traditional and contemporary methods, you not only enhance your project's financial rigor but also fortify its alignment with success criteria.

Let's think about a situation: A lawyer who is always required in all projects, of different scope and nature, for analysis of formal letters for project deliverables. I believe that depending on the nature of the business and the projects arising from this business, it is important to validate, through the history of the executed projects or through the project catalog itself, resources that are routinely demanded in all projects and are involved in specific tasks and asign this resource, if it is posible, as a default resource role in these projects . This makes it easier to approach and engage with these resources as they understand the nature and context of the work to be done, even if the scope changes. This is a possibility.

Establishing trust and rapport is crucial across the board in project management. This stretches from getting buy-in from the project sponsors, experts sought and invited, and to all other stakeholders that will be impacted by the project. As such, time, scope and activity scheduling management are important attributes when engaging experts and project beneficiaries.