Before we get to know what project management consultancy is, let us define consultancy first. Basically, it is a professional business practice that gives expert advice to others. Hence, a project management consultancy, on the other hand, gives adept project management advice to external businesses. Whenever a company lacks project management expertise or wants project management advice, they simply hire a project management consultancy.

Project Management Consultant vs. Project Management Contractor
There is a fine line between a project management consultant and a project management contractor. A consultant’s job is to consult. They provide recommendations or advice to others whereas contractors take charge of execution and are responsible for project success. Here are a few things on how project management consultants provide their services:

● Review your current project management processes and capabilities
● Provides overview of weaknesses in your current processes and/or controls
● Gives recommendations for better processes and/or controls
● Supports in the implementation of new tools, processes, and procedures
● Offers change management and transformation support

Note that there are no project managing tasks involved on the list. To make it clear, consultants won’t create project plans, execute, monitor, control, or close out your projects. What they do is to help provide employees with the right tools to do these things on their own. Contractors are hired to do an internal role. Typically, they have the same role and responsibilities with an internal project manager.

The Boons and Banes of Project Management Consultancy

Take a look at the several benefits of becoming a consultant:
● You have the freedom to choose which projects to take on.
● You have a flexible schedule since you’re in charge of your time.
● You get to set your own rates, and often make more money per hour.
● You have the ability to work with many different companies and industries.

Here are the setbacks to becoming a consultant:

● You are less secured with your job as you work for yourself and consulting jobs may not be steady.
● You will be running your own business, thus you’ll be handling complex accounting and taxes.

How to Be a Project Management Consultant?

For you to become a project management consultant, you should have the following qualities:
● High proficiency in project management processes and best practices
● Experience in applying project management successfully in diverse situations
● Ability to manage client relationships and expectations well
● Credibility

As a consultant, you need to prove to others that your skills and knowledge make you valuable enough to hire and provide advice. Thus, reputation and credibility are critical to a successful consultancy.