Interim Management

Interim Management is the impermanent supply of management resources and skills. Interim management is a short-term assignment to manage a period of changeover or crisis within an organization. In such a situation which is not long lasting, a permanent role may be unnecessary. And there may not be anyone inside the organization to take over the position for a short period of time and in short notice.

The demand for interim managers was created in Eastern Germany to apply the required management and skills to re-structure the formerly owned companies by the state.

Value Proposition constitutes a number of factors, which makes interim management cost-effective to the organization. These factors are Return on investment, Speed, Expertise, Objectivity, Accountability, Effectiveness, and Commitment. Interim Managers are paid for using their skills and experience to deliver a solution or lessen the risk which gives a meaningful return on investment to an organization. Interim Managers can be employed for a couple of days and not for even a week or month, since it is essential when time constraints are overriding. With experience and skills, Interim Managers complete their assignments effectively with speed. Interim Managers typically operate at a senior grade in an organization. Interim Managers provide a fresh orientation to provide best for the business. They are independent operators, which makes them to give their 100% without any pressure of management team. Interim Managers are managers who manage the business in their own way. They are responsible to deliver the successful outcome within the time limits. Operating at board committee level interim managers has the authority and authenticity to bring significant change within the company. At the time of transition or crisis, when decision making is difficult, interim manager provides solution and on the whole value to an organization. Interim Managers maintain high professional standards since their succeeding work completely relies upon reference and the success or failure of previous record track.

Assignments of interim manager vary in scope and requirements, gap assignments, project management and turnaround management. There are 5 stages of the interim management assignment lifecycle that how Interim Managers enter into an assignment, accomplish the actual implementation, and eventually exit the assignment. First stage is entry, when interim manager explore and research the requirement to address the situation for the client. Then diagnose the current situation in order to understand it, how it came in to existence, what are the requirements of the stakeholders. After diagnosing the situation interim Manager presents a more detailed proposal which acts as the Interim management assignment objectives and plan. The interim Manager then takes responsibility for implementation of the objective of the interim management assignment by managing the intervention, project, or solution, tracking progress and conducting periodic feedback reviews with the client. After ensuring that the objectives have been implemented properly and client is satisfied and accomplish ‘knowledge handover and training’, finally exit the project.

There are number of business situation, when interim manager plays an important role to bring resiliency to the work of an organization and hence is an important part of the organization at the time of such crisis situation and even after the end of tenure since Sometimes the Interim Manager is engaged on the next section or on further assignment to start the interim management lifecycle again.