Exploring the Benefits of PMaaS
Project management as a service, or PMaaS, is similar to software as a service (SaaS) and IT as a service (ITaaS). In the same way a company might outsource cloud computing or IT work to an outside firm, a company can also outsource the project management process.
Here’s a brief look at what PMaaS is and why it’s a worthwhile investment.
What Is PMaaS?
Essentially, PMaaS lets companies, government agencies, and other organizations buy access to project management talent and infrastructure on a subscription basis. PMaaS has a pay-as-you-go service model, so you can outsource the entire project delivery process or pieces of it at a time. It might be a one-time partnership as a company navigates a product launch or expansion, or it might take place on an ongoing basis.
Some of the tasks that companies might delegate to a PMaaS company include:
- Estimating the costs of business changes or expansions
- Planning new projects
- Strategic consulting
- Governance, compliance, and assurance services
- Communicating with stakeholders
- KPI reporting
A PMaaS partnership is a little like hiring a mentor for your company. They’ll walk with you for as long as it takes and bring perspectives, insights, and technologies into the mix to help solve your problem, complete a project, or reach a milestone.
What Kinds of Projects Is PMaaS Good For?
There are several hallmarks of new projects that might be a good fit for PMaaS:
- Projects critical to the company’s mission but fall outside its core expertise
- Large-scale projects with many moving parts and stakeholders
- Projects that have a significant impact on the future of the company
- Projects with tight deadlines or that require pulling employees away from their other duties
Companies of all types, shapes, and sizes should consider the advantages of PMaaS:
Access to project-specific expertise
At some point or another, your organization may decide to pursue a project for which you have inadequate in-house talent. One benefit of PMaaS is that it gives you access to specialists with the precise skills and knowledge you need, without needing to go through contractor churn.
Reduced ongoing expenses
Because you only pay for the services you need, you don’t have to face expenses like bringing new personnel aboard or maintaining costly retainers for talent in between projects.
PMaaS companies can provide real-time and holistic insight into projects from day one through completion. Project management companies bring new perspectives and won’t shy away from honesty when it comes to previously unaddressed risks or missed opportunities. With fresh eyes comes procedural and intellectual honesty.
Future-proof technology and services
Using project management services means you get access to the most recent and advanced project management software, technology features, functionality, techniques, and service offerings.
Turning project management into an on-demand service might sound like a radical change. But with the need for leaner and more accountable business operations, now might be a perfect time to outsource PM responsibilities. It frees the bulk of your organization to focus on the work they do best, rather than strategizing and planning.