The Project Management Professional (PMP)® is a globally acknowledged professional certification that validates a professional’s education and experience in project management. This coveted credential is offered by the reputed Project Management Institute to professionals who qualify in the PMP Exam conducted by the Project Management Institute (PMI)®.
Why PMP certification? Here are the top 10 reasons you should consider getting PMP certified:
Reason #1: Globally Acknowledged
Who should become PMP certified? Anyone who wants the freedom to work anywhere in the world. The PMP is one of those credentials whose reputation precedes them, recognized and sought-after the world over (there are more than 760,000 PMP certified professionals worldwide as of May 2017). Achieving the PMP certification helps professionals demonstrate and showcase their skills and expertise to potential employers across the globe.
Reason #2: Salary Bump
If you’ve wondered why to get a PMP certification, you should know that PMP holders typically enjoy a dramatic and steep hike in salary once they have attained the PMP certification. On average, PMP certified professionals earn 17% more than their non-certified counterparts, according to the Project Management Salary Survey, Eighth Edition. According to the PMI’s Project Management Salary Survey released in July 2017, PMP certified professionals earn a median salary of $111,969 per year in the United States.
Reason #3: Expand Your Market Reach and Scope
PMP certification holders are a global yet close-knit community. There are many Project Management forums and online communities that attract PMP professionals from across the world who are willing to share tips, insights, and pool their experience—helping everyone stay abreast of the latest industry developments and trends.
Reason #4: Better Job Opportunities
PMP Certification opens better career avenues and provides professionals with greater job opportunities in the project management world. According to a PricewaterhouseCoopers survey, 80% of high-performing projects use PMP credentialed project managers; according to the PMI Pulse of the Profession study, organizations with more than 35% PMP certified project managers demonstrated much better project performance than those without a certification.
Reason #5: PMP Professionals Get the Most Challenging Projects
The PMP Certification earns a professional a challenging and important role since the certification demonstrates an individual’s dedication to project management and attests to that person’s knowledge and experience in handling challenging projects. Additionally, since even the eligibility to take the PMP exam includes both education and experience, the PMP Certification validates one’s skills and experience leading and directing projects.
Reason #6: PMP Professionals Demonstrate Better Project Performance
Not all project managers are PMP certified. Consequently, project managers who lack the credential perform less efficiently than their certified peers. The standards for the rigorous PMP exam are higher than other project management certifications, testing professionals on five project management processes: initiating, planning, executing, monitoring & controlling, and closing, providing the Project manager with a detailed, standardized, actionable set of project management best practices.
Further, in order to qualify for the PMP exam, aspirants must have an in-depth understanding of nine knowledge areas of project management, including project scope management, integration management, human resource management, time management, cost management, quality management, and procurement management.
Reason #7: Greater Visibility to Recruiters
Research across industries suggests that organizations prefer hiring PMP certified project managers rather their non-credentialed peers. The PMP certification is a standard that demonstrates a professional’s expertise in project management and it immediately catches a recruiter’s eye during profile evaluation.
Reason #8: Applicable to Most Industries
The PMP certification is an ideal bet for all project managers in various professional fields, including IT, telecom, business processing, commerce, finance, research, and more.
Reason #9: A Great Investment for Your Future
The exam itself falls into about the middle range in terms of cost. While not as expensive as many of the high-tech, very specific exams, it isn’t something you are likely to take lightly. At $555 a test (unless you are a PMI® member, in which case it is $405), it doesn’t seem too expensive.
The passing rate of the PMP exam is estimated to be around 50 – 60%. Once you consider the pass/fail rate, you may decide that you need formal training. These types, of course, can cost between $1,500 and $2,000—not counting the cost of the exam.
Reason #10: PMP Professionals are Secure Even During Economic Downturns
With the economy yet to get back to where it was 15 years ago, there is still plenty of uncertainty. While no one is immune to layoffs and downsizing, 80% of executives around the world believe that having a PMP certification demonstrated core competencies that made the certification holders valuable even during a recession.
If you are considering working toward your PMP exam, I smart learn offers a variety of project management courses that will help you pass, including the PMP Certification Training Course. Our PMP training courses are conducted by certified, highly experienced professionals with at least ten years of experience. Interested in learning more?
PMP is a registered mark of the Project Management Institute, Inc.
PMBOK® Guide – Sixth Edition was released in September 2017 and PMP® certification exam format will be revised on 26th March 2018, according to PMI.
The exam is not about the PMBOK? Guide, but the guide does influence the exam a lot. Here’s what to expect, and what you could see as impacts to the exam as a result of the updated 6th edition.
Centralization of Effective Leadership
A chapter has been added that talks about what Project Management Leadership means, and PMI’s expectations of a project management leader. The new edition also reviews competencies and skills that project management professionals must possess. This makes sense, considering that we’ve seen the Exam Content Outline introduce this throughout the last few years, and it was a logical step to bring it into the guide.
Effective leadership is mentioned in the 5th edition but is now being consolidated into one section. Consider this as a continuation of PMI’s message—a call to action that Project Management has three components that aspiring professionals need to continually develop: technical project management, business acumen, and leadership.
The 5th edition of the PMBOK® Guide made great progress in standardizing phrases, terms, and definitions. This was needed to achieve alignment with the ISO standard 21500. This, also, was a bigger change than one would consider—the PMI Lexicon of terms and Exam Content Outline were aligned to match the same terminology. This was a big step. Once this was achieved, students and project managers could see a term in one area, knowing it would mean the same in every other use.
This new edition continues towards terminology consistency, with these primary updates:
- Human Resource Management will become Resource Management. This means you don’t merely manage teams, but also bulldozers, shovels, cases of nuts and bolts, and bottled water.
- Time Management will become Schedule Management. This makes sense; we don’t manage time, but we manage and control our schedule.
It’s interesting how PMI discusses these changes; they state “… Areas have been renamed to more accurately reflect which elements can be managed… and which cannot…”
Knowledge Area Changes
The structure of the Knowledge Areas will be updated, with the following details:
- Key Concepts will be organized. You can look to a specific section to review the core message of the knowledge area.
- Trends and Emerging Practices have been added. Current learnings and business behavior are now seen to be a component that you can integrate and are expected to consider. The guide is not something static, but something that we can modify based on needs inside and outside the project. It is moved closer to a dynamic set of tools supported by thoughtful analysis as well as best practice.
- Tailoring Considerations are now a component of each Knowledge Area. Again, having each section discuss how to modify it based on constraints, consideration, organizational preference, and business need is exciting. Having guidance in modifying the PMBOK® Guidewill assist in understanding that this is a component of control, required if you are to actively manage.
- Considerations for Agile/Adaptive Environments are included. Agile is currently mentioned as a methodology in Project Life Cycle discussions. In the 6th edition, each Knowledge Area will provide considerations for integrating agile methods based on its skill set and processes.
All these updates support not only increased clarity but also provide a focus on how this material can be best applied. This is the core of the PMP Certification Exam; it tests not only one’s knowledge but how well the applicant can apply what they know as a best practice in ambiguous, often confusing situations.
This bodes well for the profession of project management, and it bodes well for us, too. The guide gives us not only what we need to do today to make projects and business better, but what we need to think about and prepare for the future. Project management and our careers within it are a continuing story, not a stairway that ends with a closed door.
PMP, PMBOK are registered marks of the Project Management Institute, Inc.