1. So You Want to
F

2. FEBRUARY 2014 PM NETWORK 61
Freelancing went mainstream during the global economic
downturn; now, despite signs of economic recovery, the trend
shows no signs of abating. In the United Kingdom, for instance,
one in 20 people today is classified as a freelancer. Across the
pond in the United States, an estimated 16 million people are
independent workers. Recruiting firm MBO Partners predicts
that number will rise more than fourfold by 2020.
For project practitioners looking to make the leap, freelanc-
ing offers a lot of potential perks: the chance to diversify your
skill set, create a flexible schedule and work on a variety of
projects. Unfortunately, no one hands you a comprehensive
training platform to get started. So we asked project manag-
ers who have successfully navigated the freelance economy to
share their best insights.
Top tips from
project practitioners
for before and after
you’ve made
the leap.
BY MARGARET
RHODES
reelance

3. 62 PM NETWORK FEBRUARY 2014 WWW.PMI.ORG
Consider your
credentials.
“Certifications are a help to free-
lancers; they act as a minimum quality
stamp to someone like me, who reviews
freelance CVs all the time,” says Anders
Persson, PMI-ACP, PMP, freelance project
manager on assignment to the Danish mili-
tary, Copenhagen, Denmark. Professional
credentials, such as the Project Manage-
ment Professional (PMP)® credential, also
signal a commitment to the profession.
What to Know
Before
You
Start
Don’t attempt to
freelance without
prior staff experience.
“Your success as a freelancer circles around
a solid reputation, solid work and extensive
networking. It is important to be esteemed
by your peers,” says Kierstin Gray, PMP,
freelance program director at advertising
company Area 23, New York, New York,
USA. Without a proven track record of
project execution, professional prestige is
impossible. Once you have a roster of con-
tacts, doors will start to open.
TIP
TIP
“Always have three
months’ wages in the
bank or a solid contract
for six months of work
ahead of you.”
—Anders Persson, PMI-ACP, PMP, Danish
military, Copenhagen, Denmark

4. FEBRUARY 2014 PM NETWORK 63
Brace yourself for an
unconventional schedule.
Contract work rarely conforms to a stan-
dard workweek. One month you may be working
long hours to balance multiple jobs; the next month,
nothing. “I learned to enjoy the downtime when it
happened. But freelance project management is best
suited to a person with an ability to endure a little bit
of anxiety about the ups and downs,” says Kathryn
Burke-Howe, PMP, a freelance project and program
manager in Philadelphia, Pennsylvania, USA.
Smita Tambe, PMP, an IT project manager in
Pune, India, switched to freelance for the flexible
schedule. “You have to think as an entrepreneur,”
she says, setting your own hours and knowing the
limitations of your workload and schedule. Choosing
her own projects allows Ms. Tambe to meet her goal
of working about 10 days a month.
Calculate your going rate—and the rate
you need to keep going.
Setting your rate may feel like taking a shot in the dark—unless you
do a bit of sleuthing. First, ask your industry contacts to keep you abreast of
market rates. Also check out the PMI® Project Management Salary Survey for
location-specific salaries. Remember, Mr. Persson cautions, contract work
typically pays higher than staff positions, because it doesn’t come with benefits
such as healthcare coverage and paid vacation. You may sell yourself short
by simply translating your prior staff salary into an hourly rate. “Most people
don’t like to talk money, but in freelance that works against you. Freelancers
need to know what their walkaway point is, their target and the market point,”
says Ms. Gray. “Early on, I was lowballing myself on price. I quickly learned
how to play a hard line.”
Pad your savings
account.
“A good rule of thumb: You should
always have three months’ wages in the bank
or a solid contract for six months of work
ahead of you,” Mr. Persson says. “If you have
either, you are probably better off than most
people in a regular job.”
A nest egg is especially vital for freelanc-
ers transitioning out of steady payroll. Bear
in mind that many accounting departments
do not pay contractor invoices until 30 to 90
days after receipt; indeed, you may even find
yourself taking on the role of collections offi-
cer to run down overdue payments.
TIP
TIP
TIP
“Freelance project
management is best suited
to a person with an ability
to endure a little bit of
anxiety about the ups and
downs.”
—Kathryn Burke-Howe, PMP, Philadelphia,
Pennsylvania, USA