Becoming a project management consultant can be risky, but rewarding. With the faulty economy, companies may lay off permanent employees, and that translates into hiring more contract employees. Further, if you were laid off or lost your job, consulting can be a viable career option.

Of course, any time you venture out on your own, you feel the pressures of having to find work or earn a steady paycheck. But you can meet such challenges by being prepared and by standing out from other consultants.

Some skills and considerations that can help make your transition more successful include:

• Be willing to take on work that no one else can or is willing to do
• Market yourself and highlight your strengths
• Specialize in a particular industry
• Have a good network of contacts

When you take on the work that no one else can or will do, you open yourself to assignments, contacts and a paycheck. Filling in voids and gaps can also help get you established as a consultant, become acquainted with a new industry and build your network. This, in turn, can lead to future work.

Besides formal education and field experience, the PMP credential and other related credentials validate your skills and boost your credibility and your resume. However, it is one thing to have the know-how and another thing to be able to highlight your strengths and market yourself effectively.

Go beyond standard marketing methods like business cards, directory listings and talent placement specialists. Try using electronic and social media like websites and blogs to broaden your range and reach more potential clients. For example, a blog goes beyond merely posting your resume by showcasing your philosophies and expertise.

Specializing in a certain industry can also help make the transition easier. When you spend significant time in a certain field like IT, healthcare or government, you build your proficiency in dealing with issues specific to that area.

“Organizations prefer to engage consultants with experience of managing projects from a similar industry background,” says Arindam Das, PMP, delivery manager, manufacturing practice, Infosys Technologies Ltd., Chennai, India. “With that relevant industry experience, a project manager's actions and decisions are more tuned for success. ”

Finally, networking is essential, says Ardi Ghorashy, PMP, PgMP, partner, 80/20 Consulting Inc., in Markham, Ontario, Canada. He suggests establishing a group, using the Internet to connect with people around the world, and keeping on good terms with people for whom you already consulted.

“There are always more opportunities in any company, but your performance and the level of trust you build determines if you will be retained [or used again],” Mr. Ghorashy says.

For all of the hard work that goes into becoming a consultant, there are many rewards. Consultants are not often locked into a single organization for an extended period of time. This allows them to pursue work that they find most interesting anywhere in the world. It also enables work schedule flexibility and a concentration on using the skills they developed over the years.

“I cannot imagine another profession that provides a person greater variety of experience, or flexibility to pursue opportunity,” says Jake Lilley, PMP, an independent senior consultant in Atlanta, Georgia, USA.