Capital improvement bond programs are massive endeavors, with numerous projects, stakeholders, and deadlines. The key to ensuring that everything goes smoothly is having the right team in place. And one essential member of that team is the Program Management Consultant.
What is a Program Management Consultant, you ask?
Simply put, they are the project managers of the project managers. They are the experts who ensure that everything stays on track, on time, and on budget. According to a recent survey of construction professionals, 92% believe that having a program management consultant on board is critical to the success of a capital improvement bond program.
But what exactly does a Program Management Consultant do?
They wear many hats, from overseeing project scheduling to coordinating with stakeholders. They are responsible for ensuring that projects are completed on time and within budget, while also mitigating risk and maintaining quality control. In other words, they are the traffic cops of the construction world, keeping everything moving smoothly and avoiding any accidents along the way.
Jessy Milner, President of Front Line Advisory Group in Austin, believes that the role of a Program Management Consultant has changed as cities experience rapid growth and mounting infrastructure needs. Milner suggests that a PMC should serve as the Chief of Staff for government leaders tasked with managing Capital Improvement Programs. The PMC should oversee all aspects of the program, from inception to completion, and maintain strict control to ensure that multiple projects are delivered efficiently, effectively, and to taxpayer expectations. With programs becoming increasingly complex, Milner stresses the importance of a holistic, data-driven approach.
But the role of a program management consultant goes beyond just keeping the trains running on time. They are also the communication hub of the program. They work with project managers to keep everyone informed and engaged, while also serving as a liaison between the project team and stakeholders. This helps to build trust and ensure that everyone is on the same page, which is essential for a successful capital improvement bond program.
So, what are the benefits of having a Program Management Consultant on board?
The statistics speak for themselves. A recent study found that capital improvement bond programs with program management consultants in place had:
- An average completion time that was 27% faster than those without
- A cost overrun rate that was 60% lower
- 77% more likely to complete their projects within the original budget
- 80% more likely to meet their original goals and objectives
- 73% more likely to complete their projects on time
Program management consultants can be the unsung heroes of capital improvement bond programs. They keep everything running smoothly, mitigate risk, and ensure that everyone is informed and engaged. So, the next time you’re embarking on a capital improvement bond program, remember to bring a program management consultant on board. Your project will thank you for it.
At Front Line Advisory Group, we transform Capital Improvement Bond Management through expertise & industry knowledge. We empower clients & maximize tax dollars through Program Management Consulting. Contact us for more info at info@frontlineadvisorygroup.com.
