Businesses spend an awful lot of money on employing the services of contractors to help them tackle large scale projects. Indeed, it’s said that the global outsourcing market stretched to $76.9 billion in 2016. But this figure is actually falling, down from a high of more than $100 million in 2014.
That may, in part at least, be down to the fact that businesses are embracing the benefits to be had from keeping these tasks ‘in-house’. So, what about your business? Should you rein-in your external spending and take on large scale projects for yourself, or would that take too much time, money and effort?
Here are a four key reasons for handling large scale projects yourself:
Large scale projects need to be properly managed or they could easily spiral out of control. It’s much easier to have a handle on the progress of a project if it’s in-house as you’ll be able to have regular contact with the team handling it. And, you won’t need to build an entirely new working relationship with a contractor that you’ve never dealt with before. By keeping control, you are also able to maintain consistency for your brand and have no concerns over confidentiality or need to allow access to sensitive material (as this article touches upon).
As we’ve seen already, a lot of money is spent outsourcing work to contractors. It might seem like this is money well spent if it gets the work done, but you need to consider the value of this spending. It’s easy to get a quote and pay over the odds if -you’re not fully aware of the cost for yourself. That’s why it’s always a good idea to at least put a rough estimate on the amount it would take you to carry out the task for yourself. Not only that, but if you agree a contract, then the chances are you will end up paying that amount regardless of the true cost. If you keep it in-house and costs come in under budget, you can reap the rewards for yourself instead of lining someone else’s pockets.
Then there’s the issue of speed. The more control you keep, the more you can steer things towards a specific deadline. As with cost, if a project finishes early then you can get the benefits, moving employees and resources on to another task. If you ask a contractor to work on something for four months there might be little incentive for them to complete it sooner.
You also need to think to the future. Are you going to be carrying out another similar project in the short to medium term? Once you’ve trained your staff up, employed people with the right expertise and qualifications or invested in specialist equipment such as a blast room, you’re geared up and ready to go. Your investment in personnel and equipment will make the cost and planning of your next project much simpler and cheaper.