Tips to start as a freelancing Project Manager

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I currently work in a weak matrix sort of organization where PM just coordinates and follows up/updates the project status. I want to truly experience and enjoy a Project Manager's role and therefore I decided I would slowly build myself as a freelancing Project Manager. I have been dealing with Telecom Projects throughout my career(6-7 years) and now slowly want to introduce myself to IT and other projects if I have to grab this opportunity to be a freelancing PM.

 I would really appreciate if you guys could give me some tips; I want to start this thing properly with small projects and want to build myself as a competitive and reliable PM one day who can manage different type of projects.

Aug 25, 2020 in PMP by Roshni
• 10,420 points
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1 answer to this question.

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"Having worked as a contract Project Manager earlier in my career, and having hired contract Project Managers more recently, I wrote an article two years ago comparing the pros and cons of using them.

This perspective represents only one side of the coin, and with the increasing number of Project Managers I’ve met who have expressed interest in pursuing this type of work, I felt it might be beneficial to cover this topic from the other side. It should be noted that my focus is not on those Project Managers who have taken on contract work temporarily as a stopgap until they are able to land a suitable full-time role.

It might seem surprising to you, but financial benefits are not a factor I will focus on – it is well understood that contract rates will usually be higher than full-time salary rates, but it is might be more useful to calculate net annual income and monthly cash flow.

When one factor in outflows such as health or dental insurance, financial impacts of downtime between projects, self-funded personal development such as courses or conferences, operational costs such as accounting or legal fees and the impacts to the liquidity of net 30 or net 60-day payment terms, financial merits alone might be insufficient to clinch the decision.

Other non-financial benefits of contract work include:

The freedom to decide what type of projects you will accept
The ability to take a longer time off or to spend more time on your personal development
The opportunity to get much greater depth and breadth of experience than might be possible in full-time roles
The chance to build relationships across many companies
But before you quit your full-time role and jump into the contract market, here are a few questions to ask yourself.
 

answered Aug 25, 2020 by David Samon

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