Project Management

How to Never Run Out of Clients as a Contract PM

PMI Toronto Chapter

Bruce is the founder of, a resource for growing IT project managers.

Contract project managers have the opportunity to make a great living. Unlike traditionally employed project managers, the practitioners in this career path can easily move to new opportunities. Variety is the spice of life, and contract PMs certainly experience various projects and organizations!

Yet this career path also carries significant risk. How can you ensure you never run out of clients as a contract PM? Read on…

The No. 1 Risk for Contract Project Managers
In some ways, freelance project managers are like building contractors. It’s common to work on a small number of simultaneous projects. Yet few contract managers can manage more than two or three significant projects simultaneously.

There is a significant risk to your income when you only have a small number of clients. The loss of a single client means a dramatic loss of income. If you build your lifestyle around having three clients and suddenly have one of your contracts paused or cut back, that loss hurts.

In the summer of 2022, there are increasing signals of a potential economic downturn in the United States and elsewhere. Interest rates are rising to combat inflation, and a growing list of technology companies like Coinbase and OneTrust are canceling job offers and laying off employees. There are also more CEOs (like Tesla’s Elon Musk and JPMorgan Chase’s Jamie Dimon) …

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