A Project Manager has the awesome responsibility of planning, procuring and executing a project. A Project manager will have to demonstrate amazing capabilities to set the project on a smooth sail. Yet projects are being managed and completed today without certification. So what is PMP? why all the hype around it? and is PMP certification worth all the hassle in 2017?
What is PMP?
Project Management Professional (PMP) is an internationally recognized professional designation offered by the Project Management Institute (PMI).
There are currently 724,773 active PMP certified individuals and 285 chartered chapters across 207 countries and territories worldwide. This prestigious designation is considered a benchmark in the industry.
The Project Management Professional (PMP) is the most important industry-recognized certification for project managers.
2016 saw PMP as the fifth highest-paying and the first business-related instead of technical-related certification. According to a PwC survey, 80% of high-performing projects use PMP credentialed project managers. Similarly, it has been found that organizations with more than 35% PMP certified project managers demonstrated much better project performance.
What does a Prospective Employer stand to Benefit?
When more than one-third of their project managers are PMP-certified, organizations complete more of their projects on time, on budget and meeting original goals. Meeting goals on time directly converts to more revenue and excellent company growth.
What a PMP certification CAN do for you.
Apart from the obvious one that you get certified, here a few of the many advantages of getting a PMP certification. Here is what a PMP Certification can do for you.
PMP increases your earning potential.
A PMP certification can incredibly increase your earning potential. It has been observed that PMP certification holders earn 25% more than their non-certified peers. According to a recent PMI survey, the median salary for a certified project manager is $1,08,200. The non-certified project managers, on the other hand, showed a median income of $91,000.
According to Earning Power, a PMP holders earn 20% more than their non-certified peers. Further, a new research from the Project Management Institute, suggests that 71% of project managers saw an increase in compensation over the last 12 months.
Another PMI survey states that even the middle eastern countries like the United Arab Emirates and Saud Arabia showed salaries greater for PMP holders. By what number you ask? Well, at least US$ 10,000
PMP opens new career vistas
According to the PMI Pulse of the Profession study, PMP opens new career vistas and provides professionals with greater job opportunities in the project management world. How? Well, a PMP certification gives you more projects. More the projects, higher the compensation. More complex projects fulfilled, better career advancements. This further gets translated to higher recognition and countless other benefits and rewards.
A whopping 80% executives believe that PMP provides a certain amount of security against layoffs. PMP Certification holders demonstrate core competencies that makes them valuable even during a recession.
PMP signifies that you speak and understand the global language of project management. It connects you to a community of professionals, organizations, and experts worldwide. You can find PMPs leading projects in nearly every country.
Unlike other certifications that focus on a particular geography or domain, PMP is truly global. As a PMP, you can work in virtually any industry, with any methodology, and in any location.
Moreover, PMI stages frequent PMI meetings. In these meetings, various PMI members get together to network and learn about project management theory. During these meetings, you can often find out fresh career opportunities. These meetings often have time allotted for people to stand up and share any job opportunities that are available in their organizations.
Proof of Project management experience
In order to apply to take the PMP exam, you are required to have attained a certain amount of experience leading and directing projects. 60 months (7,500 hours) of experience if you have an associate’s degree, and 36 months (4,500 hours) of experience if you have a bachelor’s degree. So a PMP certification proves that you have ample amount of experience in the Project Management field.
Gives your resume a leverage against others.
A PMP certification can beef up your resume. It shouldn’t come as a surprise that hiring managers often look at resumes with the intent of throwing most of them in the shredder. If you need to stand out, you will need something attractive in your resume. And PMP can make that difference between getting a job as a project manager and being passed over in favor of someone else.
Learning PMP can make you a Project Hero!
A PMP on your resume means:
- A formalized display of your professional ability
- If working for a consulting firm, your PMP credential may help your company win business, making you more valuable to your firm
- Provide networking opportunities with other PMPs
- Impress your friends at cocktail parties
- Will provide potential teaching opportunities by teaching PMP classes to future PMP candidates
- Illustrates personal drive to further your credentials, knowledge, and professional abilities
- Helps to distinguish you from other project management professionals in this tough job market.
Having the credential will certainly make it easier to find a job as a project manager. Just make sure that the term ‘PMP’ is placed next to your name at the very top. It makes the hiring managers work a lot easier!
The PMP Examination
The PMP certification exam tests five areas relating to the life cycle of a project: Initiating, Planning, Executing, Monitoring & Controlling, and Closing. PMP certification validates expertise running any kind of project and is not specialized into subtypes, such as manufacturing, construction or IT.
To maintain PMP certification, continuing education credits are required each year. PMP certification requires years of planning and effort.
The 2017 PMI Eligibility guide states a few prerequisites to be eligible to take the PMP course. They are:
|Eligibility Requirement||Four-Year Degree||Secondary Degree*|
|Years of Project Management Experience||3 Years (36 Months)||5 Years (60 Months)|
|Hours Leading & Directing Projects||4,500 Hours||7,500 Hours|
|Hours of Project Management Education||35 Hours||35 Hours|
Hard and Soft skills
PMP further requires a set of skills that the candidate must acquire. They are the Hard and Soft skills.
Hard Skills refers to knowledge of processes (corporate and PMBOK®), work breakdown structures, budgeting and software tools (scheduling software, etc.). Everything but knowledge of software tools is covered by the PMP examination.
- Soft Skills
- Critical soft skills include
- Team building
- General people skills
- Decision making
- Motivation techniques
- Action orientation (not procrastination)
- Good organization
- Knowledge or fast learning of software tools of choice and so on.
One of the most important soft skill is People skill. It includes;
- Ability to relate well to others,
- Obtain their best ideas,
- Gain team-wide acceptance based on decisions made, and
- Build team morale. So that the team members are willing to work with you or at least agree to follow your leadership.
As an example, one of the tenets covered in the examination is the idea that the project manager must be “large and in charge”. He or she must be decisive and able to make tough, timely decisions in often stressful situations. Most successful exam takers are aware of this necessity and answer the exam questions appropriately.
Recipe for a Successful Project Manager.
A dollop of self-study; your weakness and strengths.
A slice of PMP course
A Heap-full of Project management experience
A PMP credential for garnish.
And finally, determination and commitment as required. (we prefer if you give your 100%. Your success will taste the sweetest)
Understand yourself objectively – your strengths and weaknesses. You can do this by taking evaluations such as the Meyers-Briggs personality type test and also by soliciting feedback from several people who have worked with you. Take a validated and trusted PMP course and ace it. Read extensively on project management and gain a PMP credential. Most importantly, fuel yourself with determination and commitment. Nothing beats a committed and a determined project manager.
don’t fret if your personality type doesn’t really lend itself to strong leadership. The knowledge you gain from attaining the PMP credential will still serve you well in various roles essential to project management, such as scheduling, design and maintenance of project metrics, and the like.
However, if you plan on a long-term career as a project manager, then PMP is your one-way ticket to success. A PMP certification will definitely expose you to mainstream thinking on project management standards, techniques, best practices, and current trends.
So all in all, you only to gain from a PMP course. Granted, it takes time, effort, hard-work, dedication and commitment to ace the exam. But the success that comes with it is way sweeter and profitable!
So yes! PMP is definitely worth all the hassle.
Get PMP certified from AcadGild now and taste success before your peers! grab your chance to be a Project Hero before it is late!