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Professional Indemnity Insurance
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Are clients paying too much for project manager contracts?
Posted Jan 22, 2008
Hundreds of companies are paying too much for their project management contracts according to market research by a leading supplier of skilled consultants to the digital, telecoms and media industries.
Almost 90% of experienced project managers who answered the survey, carried out by PM3 Consulting, said they believed the margins charged to clients for consultants and project managers should be below 20%.
Feedback from the survey also made it clear that consultants find it harder to work effectively if their clients think they are paying over the odds for their services.
More than half of respondents (51%) even suggested that the premiums charged on a contractor should be below 10%.
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