Cost structure can be lower. All project management vendors work differently, and offer different pricing structures depending on their level of services, experience, business model and overhead, as well as consideration for their target markets. It may take some upfront work to solidify details and obtain quotes from these vendors prior to determining if any given vendor is a cost-effective option for your business. And don’t forget to factor in the longer-term factors as well (such as the cost of maintaining FTE PM roles in-house).
Higher level of experience and competence. Project management is a highly specialized area of knowledge and skill that requires significant attention to detail, as well as the ability to see the broader scope to ensure strategic business alignment. In addition, people with the ability to effectively manage multiple resources, juggle hectic schedules, deal with difficult situations and keep within scope are in high demand, yet are hard to find.
The upside to being able to find people with these skills, is their ability to provide high-quality project management, enabling businesses to execute projects successfully while allowing your internal staff and management to focus on what they do best. If these skills are not available internally then outsourcing to an experienced project management vendor may be the best option when compared to the cost of hiring a less experienced internal project manager.
Objectivity. External project managers often bring a level of objectivity that may not always be present with internal staff, for various reasons. This objectivity can be of great value when it comes to the actual project outcomes and deliverables, and ensuring all business requirements are met.
Clarity of focus. When properly executed and managed, projects facilitated by an experienced outsourced PM can allow opportunities for businesses to achieve clearly defined expectations with single-minded focus and less internal friction. This of course assumes the right amount of senior management support is in place.