Working Managers vs. Project Managers
Transactions are intricate and multifaceted, spanning from initial due diligence to successful integration. At Greenwood, we view these stages as fundamentally interconnected. Both due diligence and project management involve numerous work streams, rely on a mix of human and technology-driven processes, and benefit from thoughtful segmentation of responsibilities. Assigning the right blend of insiders and consultants with relevant expertise is critical.
While deal teams have developed sophisticated approaches to due diligence, project management often remains standardized and less nuanced. Drawing on years of direct experience, Greenwood advocates for a new approach centered around “working managers”—professionals with a distinct combination of experience, functional expertise, and a hands-on attitude that sets them apart from traditional project managers.
The Greenwood Perspective on Project Managers
Much like due diligence, where third-party experts are selectively engaged for their specialized knowledge—be it lawyers for regulatory concerns or consultants for market research—project management also demands careful segmentation. Generic project managers tasked with both administrative and specialized technical responsibilities often fall short. Greenwood’s philosophy is to match tasks with the right mix of skilled individuals and effective software solutions.
In our experience, successful project management requires professionals with three key attributes:
1. Experience in similar transactions, enabling them to “see around corners” and anticipate challenges.
2. Deep functional expertise in areas like accounting, IT, sales, or operations.
3. A willingness to roll up their sleeves and actively contribute to solving problems.
We call these professionals “working managers” because their ability to lead by doing, combined with their expertise and foresight, ensures better outcomes than traditional, checklist-driven project managers.
How Working Managers Add Value
Working managers bring a unique ability to anticipate challenges based on prior transaction experience. For instance, in carve-outs, sellers may sweep all bank accounts at close, leaving no funds for immediate needs like payroll. A proactive working manager would address this risk by ensuring sufficient cash transfers before Day 1.
Beyond foresight, working managers leverage functional expertise to identify gaps and interpret unspoken nuances. Senior executives may provide polished answers, but it’s often what isn’t said that matters. For example, a CIO’s assessment of IT infrastructure may align with their company’s standards but conflict with those of the acquiring firm, potentially leading to unexpected costs. A working manager with deep expertise can bridge these gaps, aligning expectations and preventing costly surprises.
Finally, working managers excel at execution. Unlike traditional project managers, who may lack the technical skills to resolve complex issues, working managers can dive into the details and make critical decisions. In one integration, a traditional project manager overseeing an Oracle system migration lacked the knowledge to address risks or adapt the plan, creating inefficiencies and delays. Under Greenwood’s approach, smarter software would handle administrative tasks, while a working manager with technical expertise would ensure seamless execution, saving time and accelerating integration.
The Greenwood Advantage
At Greenwood, we believe due diligence and integration are equally critical to a transaction’s success. While robust due diligence lays the foundation for a deal, effective integration ensures its long-term success. That’s why our approach emphasizes the value of working managers—professionals who combine expertise, foresight, and hands-on problem-solving. By leveraging smarter software for administrative tasks and experienced managers for complex challenges, we help clients achieve faster, more efficient integrations that drive value.
