Why does Forbes Project Solutions exist?

Earlier this year, I shared my experiences working on large regulatory transformation programmes within financial services having come from a recruitment background.

I was surprised by the volume of consultants from big consultancies operating on programmes vs independent contractor resource.

This got me thinking –

Why are firms continuing to spend vast amounts of money on consultancy teams for delivery execution of programmes, when there are pools of talent available at half the cost with specialist specific project experience?

Well, there are several reasons - here are just a few:

1. Shared delivery risk

Consultancies often take accountability for specific programme outcomes, reducing the delivery risk on the client.

2. Speed to deploy

Consultancies can supply resource at very quick notice (often within a week) - without the need to go through lengthy individual onboarding processes.

3. Ready-made teams?

Teams often have worked together on previous programmes.

4. Less need to performance manage individuals

The consultancy will have their own performance tracking on individuals reducing the need for the client to manage individuals on the project.

5. Partner oversight

Partner level support is available to clients to help oversee the programme.

6. Specific project experience

Often consultancies are "in from the start" of large programmes and therefore have built in project-specific knowledge which would take too long to replace. They also often have key learns from other similar programmes which they can call upon.?

In contrast, when utilising independent contractors, clients need to recruit each project member individually, often via lengthy recruitment onboarding processes and via different (and often anonymous) suppliers.

The process of interviewing for each project role is time consuming and painful.

Once the team is onboarded, even if the contractors do bring specialist skills and experience, the client needs to manage individuals and harness a high-performance culture within the team - ultimately leading to successful delivery.

Taking all reasons into account, utilising big consultancies on large programmes sometimes makes complete sense - even if clients are frustrated with the money they are spending when they know independent contractors can provide specialist experience at a more palatable price-point.

But there is appetite for change, and that is why Forbes Project Solutions exists.

We combine each of the 6 benefits listed above with deep networks of the best interim project professionals in the markets that we operate in.

This means that clients can deliver programmes with the high touch support of a consultancy partner with "skin in the game" via outcome based commercial engagements.

We do this by providing rigorous governance, reporting and performance management, whilst developing high performing teams that integrate with the clients' FTE team, resulting in exceptional project delivery, at a fraction of the cost.

To discuss more…

If you would like to find out more get in touch with?Tom Dobson, Client Services Director of?Forbes Project Solutions.