Starting a Project Management Consulting Business
To start a project management consulting business:
- Become a project manager
- Earn a degree in project management or related field
- Gain project management experience
- Consult with clients, analyze key performance indicators, and assess project viability
- Perform detailed project analysis and submit reports for funding approval
Steps to Start a Consulting Business
Follow these 12 steps to start a consulting business:
- Finalize niche
- Choose business structure
- Register your business
- Open business bank accounts
- Establish branding
- Build website
- Set up accounting
- Equip office space
- Define service offerings
- Set consulting rates
- Market services
- Reach out to prospects
Profit Potential in Project Management Consulting
Project management consulting has low start-up costs and high profit potential. Consultants can earn from $50,000 per year to over $1 million. To increase profitability, consider partnering with non-competing consultants.
PMO Consulting and Certification
To become a PMO consultant:
- Obtain a bachelor’s degree in business or related field
- Gain extensive project management experience
- Consider certifications like IPMO-Practitioner or CB-PMO Consultant
- Develop communication and relationship-building skills
- Progress from small to larger projects
PMO Consulting vs. Project Manager Role
The PMO role involves monitoring, methodology development, and tools implementation, while the Project Manager oversees all aspects of a project from start to finish.