Becoming a PMP certified professional portrays your knowledge, extensive skills, and experience in project management to future employers. However, the 1 million dollar question is, will this highly valuable certification offered by the Project Management Institute (PMI) maintain its value in the future?
The answer is YES! The demand for PMP certified professionals is rapidly increasing, according to a survey conducted by the Anderson Economic Group (AEG), the need for project managers in the coming decade is expected to rise more rapidly than the demand for professionals in other sectors. The PMI commissioned Project Management Job Growth and Talent Gap 2017–2027 report further states that more than 88 million project management jobs will be available by the year 2027.
Despite these commendable statistics, most individuals aren’t aware of the benefits of being PMP certified, and even worse, the process of becoming a PMP certified project manager. This is why we have prepared a comprehensive guide detailing what the PMP certification is and it’s worth in the project management field
PMP Certification: Definition
Awarded by the Project Management Institute (PMI) since 1984, the PMP certification has rapidly grown over the decades and is now recognized worldwide with more than 1,000,000 certified professionals as of February 2020. Based in the USA, the Project Management Institute (PMI) is a nonprofit professional organization tasked to set and maintain quality standards in the project management field.
The PMP certification is based on the Project Management Body of Knowledge Guide (PMBoK®) and is a symbol of competence, skills, and knowledge in project management. The PMP certification is perfect for project managers aiming to scale their career ladder in the field of project management.
To become PMP certified, you are required to complete 35 contact hours of training from a PMI Registered Education Provider and then sit and pass the PMP exam. To maintain their certification, PMP’s are required to attain professional development units (PDUs) through continuous education, field practice, and certificate renewal. PMI requires PMP holders to renew their membership every three years. This is necessary because PMI often updates the PMBoK® guide to keep up with current trends and practices, and these changes may inconvenience previous certificate holders.
PMP offers a wide variety of certifications other than their PMP including
- PMI Scheduling Professional( PMI-SP)
- PMI Risk Management Professional( PMI-RMP)
- PMI Agile Certified Practitioner( PMI-ACP)
- Portfolio Management Professional( PfMP)
- PMI Professional in Business Analysis( PMI-PBA)
- Certified Associate in Project Management (CAPM)
For those who don’t meet the requirements necessary to become PMP certified, you can opt for the Certified Associate in Project Management (CAPM).
Unlike PMP, the CAPM has less strict requirements, and the course outline is less intensive than the PMP. It also demands fewer years of experience in project management.
Benefits of PMP Certification
The main advantage of becoming PMP certified is gaining both the necessary skills and knowledge required to become a proficient project manager.
Some of the desirable skills you can also gain include
- Effective communication skills.
- Analytical and critical thinking capabilities.
- Creative thinking and problem-solving skills.
- Management of technical projects abilities.
- A mindset to think strategically.
- Effective leadership and team-building skills.
These skills are highly looked-for by potential employers, this is evident from a survey done by PMI whereby, 72% of employers who hire project managers agree that PMP certification should be made mandatory to project managers.
Because of the vast advantages of the PMP certification, many organizations are confident hiring PMP certified project managers to manage their projects. Project managers with a PMP certificate are more likely to ensure a project is completed successfully, within the set budget and time.
In today’s fast-paced world, organizations are becoming more result-oriented. Therefore PMP certified project managers can use their qualifications and competency in generating desired results to apply for the numerous lucrative employment opportunities in the field of project management.
It’s a proven fact that PMP certified project managers are way much better compared to their non-certified counterparts in effectively managing projects to achieve the preferred results.
Is Getting PMP Certified Worth It?
Getting PMP certified will assist you in acquiring the necessary skill set as well as knowledge and methodologies in significant areas of project management which you can use to impact projects positively.
The advantages of becoming PMP certified is enough reason to obtain this valuable certification and start enjoying the benefits.
Attaining a PMP certification will leverage you to receive higher salary remuneration and quickly get promotions to more senior job positions. PMP certified project managers receive higher salary compensation (up to 20% higher) compared to their non-certified counterparts. The average annual salary of PMP certified project managers is $110,000; however, this figure can increase depending on the field as well as the job description of the project management role.
Many people believe that project managers with an MBA or a higher degree in project management can attain PMP certification without sitting for the PMP exam. However, it is necessary to sit and pass the PMP exam before being PMP certified. Additionally, PMP certification is not only limited to project management but also open to other professionals such as languages or liberal arts.
If you are from a different profession and you would want to delve into project management, it’s not necessary to take up a degree in project management as there are module project management programs. These programs allow you to develop a career in project management within a short time regardless of your educational background in other fields. Nonetheless, you will still need to attain PMP certification to reinforce your education in project management and advance your career in the.
Will PMP Certification Still be Relevant in the Future?
Yes! PMP certification will still be relevant in the future. While many people think that robots will assume the role of project managers in the future, this will not be the case. Project management is a complex profession that requires a human touch, such as emotional feel as well as social skills that robots may not be able to display. It’s a fact that robots will never wholly eliminate humans from various career field project management included. Your future clients or employers will be satisfied with your knowledge and skills in project management, thanks to your PMP certification.
What is the Process Involved in Getting PMP Certification?
The following eligibility requirements are needed to sit for the PMP exam, pass, and get certified. They fall into two groups.
- Secondary degree, high school diploma, associate’s degree, or a global equivalent.
- 7,500 hours in supervising projects in various fields with a minimum of 5 years’ experience in managing projects.
- Complete 35 hours in PMP certification training from a PMI accredited PMP training institute.
- A bachelor’s degree.
- At least 4,500 hours of managing projects with a minimum of 3 years’ experience.
- Complete 35 hours in PMP certification training from a PMI accredited PMP training institute
What Kind of Experience Do you Need?
According to PMI, you are required to demonstrate the following specific roles in your experience:
- Coordinate the various teams assigned to a project to adhere to the time limits and approved budget and achieve the objectives set.
- Choose the appropriate management approach in fulfilling the project management requirements.
- Show management autonomy even under superior management supervision.
How do you Document your Experience?
As part of the application process, you need to highlight each project you were assigned to that is within the timeframe given. On top of that, you need to get into the details of the individual projects you managed.
The description section should entail:
- An overview of the project goals.
- Specific responsibilities in executing the project plan (i.e., if it’s initiating, use ‘IN’ as an abbreviation).
- A summary of the project results.
You should also indicate the number of hours spent in the various process groups.
What about the Fees?
The PMP Certification exam fee is 555 USD for non-PMI members, while PMI members are required to pay 405 USD. You can save money by paying both the membership fee and exam fee, which will cost you only 544 USD.
Being PMP Certified together with a PMI membership has its benefits:
- It allows you to network with other project managers in your sector and across the globe.
- Free access to relevant, valuable project management tools such as the PMBOK® Guide.
Where to Start?
One of the best ways you can prepare for your PMP exam is by enrolling for a PMI approved PMP training course. A notable training institution is the Project Management Training Institute- an exemplary institution providing high-quality PMP training in the US, with training boot camps all across the country, including New York, Washington, and San Diego.
Why is it Important?
- PMP training institutes offer tailor-made PMP study materials for the PMP exam.
- Professional trainers help students comprehend vital project management concepts, formulae, terminology, and other crucial tips and tricks required to pass the exam
- PMP training centres also provide the necessary 35 contact hours needed for you to be eligible to take the PMP exam.
Retaking the PMP exam can be very costly, especially if you do not have a PMI membership. Therefore, it is essential to ensure that you pass the exam on your first attempt by attending a PMI accredited institution with PMP certified trainers
Other essential factors to consider before choosing a PMP certification training institute include.
- PMI Registered Education Provider (R.E.P.) status.
- Fee structure.
- Application assistance.
- 35 contact hours.
- Pass Rate.
- Money-back Guarantee.
- PDUs for certification extension.
- Practice Exams.
PMP certification is vital for anyone looking to make enormous strides in the field of project management. The benefit of PMP certification surpasses the sacrifice and cost of attaining such a certification. A PMP certification will outlast time and will still be relevant in the coming years; therefore, it’s a worthy career investment.
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