And the value they deliver through the timely completion of a project far outweighs their cost. For instance, following a merger, a Fortune 500 manufacturer of a consumer product line decided to launch a new global sourcing system. An interim project leader served as the liaison among the project team, consultants and the management team. He helped the company reduce the cycle time associated with the launch and full deployment of the new sourcing system from 18 months to 13 months. IN AND OUT Organizations use interim management to do something quickly when they don't have the requisite talent, or when they need to fill unexpected or short-term vacancies.
Interim executives differ from financial consultants, who focus on making recommendations.
When organizations consolidate, they often experience a loss of intellectual capital. Competitors launch talent raids. Key leaders leave unexpectedly. It's critical to replace this knowledge rapidly and infuse the organization with experience and energy. Interim executives can accelerate change, act as fulcrums to help staff members cope with change and transfer their expertise to the key executives who will remain.