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Pros and cons of freelance project management

No matter what field you work in the idea of becoming a freelancer is a dream that many professionals want to make a reality at some point in their career. The opportunity to be your own boss and have more choice over the projects that you work on and, of course, who you work for – it all sounds fantastic. But freelance project management isn’t really as simply as it sounds, whilst there are plenty of pro’s there are also some definite con’s to choosing this path in your career, so it is important to consider them all before making what can be a huge leap.

We have put together just a few of the pro’s and con’s you should take into consideration.

Flexibility

One of the biggest pros of freelancing is the flexibility you can achieve; if you have family commitments this can be very important. Some people are also more productive at particular times of the day and for those people this is ideal, alternatively you can work more hours some days allowing you to fit life in around your work.

Confidence boost

You are in charge of your own future, you work for yourself and not an employer who may not always have your best interests at heart. Being in charge of your own work can be a fantastic way in which you can increase your self-confidence, this in turn means you are more likely to take those little risks to achieve your end goals.

Finances

Going freelance means losing that regular pay cheque and knowing that you have a set amount being paid into your bank account each month at the same time. It can be difficult to adapt to a more sporadic income, certainly whilst you are just starting out, and it can be wise to ensure that you have a pot of money saved up in case you find yourself between jobs with bills to pay.

It is also important to remember that as a freelancer you won’t get sick pay or paid holidays. Submitting invoices can take time and chasing any that are unpaid can cause cash flow issues until the money arrives in your bank.

Less structure

Unfortunately, the flexibility of being a freelancer can also mean that your days can be less structured, and this means that it can be all too easy to have no routine. You need to be able to make schedules for your work and stick to them, if you can’t give your days the structure they need then you may not be able to meet the deadlines that you give yourself.

Putting your skills to the test

Freelancing gives you a great opportunity to really put your project management skills to the test, you are your own boss and as such you need to be completely in control of the projects that you undertake. It can be hard work but hugely rewarding.

About MS

The author is a freelance consultant with many years experience in IT and IT Project Management in the oil industry and investment banking on complex global projects and managing outsourced project teams.

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