A recently PwC survey states that particular PMP project managers grip more than three fourth of the high performance projects. Similarly, companies with more than one-third PMP certified directors have much better-quality project achievement than companies which do not. Whatever’s more? PMP is the fifth highest-paying certification in the year 2016.
Sounds significant proper? If it does, the next question is would you get PMP certified? Before you explored this question in this blog, let us first know what PMP stands for.
What is a PMP certification?
Project Management Professional (PMP) is an internationally recognize specialized certification. It is offer by the Project Management Institute (PMI), non-profit professional institute. A well-recognized and appreciated credential, PMP is considered important for the project managers. Specially, for those who wish to take the next step in their career.
What is the PMP certification assessment about?
Project Management Body of Knowledge (PMBOK), with industry values, is used as the guide for testing candidates. The PMP assessment tests the candidates on tasks out of five performance domains
- Beginning the project (13%)
- Planning the project (24%)
- Executing the project (31%)
- Monitoring and controlling the project (25%)
- Finishing the project (7%)
The number in parentheses specifies the weightage given to each domain in the assessment.
The assessment (exam) has about 200 multiple choice questions. Out of these, twenty-five are not calculated to the final score. These are used as experimental questions to improve the standard of the assessment. But, one cannot know what the sample questions are as they are located casually throughout the assessment. Also, it is a closed book test. It means that no reference material will be allow to be use by the candidate during the assessment.
What are the PMP assessment requirements?
To the question of who should apply:
“If you’re a knowledgeable project leader answerable for all features of projects delivery, foremost and directing cross-functional teams, then the PMP is the excellent choice for you.
Highly important, there are certain prerequisites one should meet to be specialized. An applicant must have either
- Secondary degree (high school diploma, associate’s degree or the international equal.
- 7,500 hours leading and leading projects
- 35 hours of project management education
- Four-year degree
- 4,500 hours leading and guiding projects
- 35 hours of project organization education
PMP certification value?
Now that we understand what PMP is all about, let’s come to the question. Would you get a PMP certification? There are too costly and profits to getting the PMP certification. But, many HR experts and specialized professionals that benefits far compensate the expenses.
Initial, let us look at some of the difficulties cited with PMP certification.
- It is expensive
If you are not a member of PMI, the cost of the PMP certification is 550 US dollars. However, if you are a member then you just need to spend 405 US dollars to write the exam. But PMI membership itself costs 139 US dollars. Though you save only 11 USD by becoming the PMI member, there is host of other benefits that are associated with the membership. Hence, it is highly suggested that you become a member of PMI before registering for the exam.
Additionally, if you fail in your first attempt and want to retake the exam, you need to pay 275 USD if you are a PMI member and 375 USD if you are a not a PMI member.
Apart from the cost of the exam, there are several other costs that one incurs during the preparation. These include the cost of PM training sessions, preparatory books, sample questions etc. Considering all these, one needs to spend at least 750 USD to gain this certification. Yet, almost all the experts agree that this cost is nothing compared to the career growth that one can have through this certification.
- It is difficult
Most people decide that PMP is a difficult examination. Some of even say that it is the toughest assessment that they have ever taken. The trouble in the fact that the assessment tests not only the memory of the concepts but the practical application of them. When you add the pressure of time (you need to answer 200 questions in 240 minutes), it becomes scary for even an experienced project manager. Also, there are specific differences in how long one takes to succeed in the exam nearly some take two to three months to succeed. Others cannot get certified even after preparing for years.
But, the fact is if the assessment were a cake walk and everyone could pass it easily, would it be as valued as it is today? Certainly not! The prestige of this certification lies in the tough standards required to clearly and maintain the certification. Thus, PMP certification does need any hard work from you. But the good news is the fruits of this effort will be sweet.
- It is time-consuming
Yes, there is a financial cost. But, for most people, the bigger problem is the cost of time. They complain about the number of hours it requires to get PMP certified.
A part of it has to do with preparation itself. As the exam is difficult, you need to set aside some time daily to master the guide. But, most people agree that’s not all. You need to read up several other guides, attend preparatory sessions (if you join any) and write sample tests as part of your preparation. All these activities do take up considerable time. Since most aspirants are people who are currently employed, they feel even more crunched for time.
Alongside, PMP application needs you to document all the projects you executed. That too, you need to write the minutest detail about these projects. Sounds simple, but it is not easy and requires a lot of time. Also, one cannot take this activity casually. That’s because PMI conducts an audit process to establish the authenticity of applications.
Yes, these problems look intimidating. But, in the face of the advantages of PMP certification, these seem almost irrelevant. Let us now read about the pros of PMP certification.
Benefits of doing a PMP certification
- Adds value to the resume
There are numerous specialized certifications that you can follow through your career. But, among all of individuals, PMP certification is the most valuable certificate programmer. Examiners looking to fill in a position of a project manager understand. Hence, they tend to rank profiles with PMP certification over those who do not have such certification.
Project managing professions are highly in demand. So, in most cases, numerous peoples apply for these jobs. It is time and reserve consuming for the corporation to interview and evaluate the potential of all the candidates. As such, they like to filter out as many persons as possible before the project management’s interview process. This is where the PMP certifications shows helpful as it is one of the maximum objective methods in which one can select the candidates.
Also, many organizations are making it compulsory to have a PMP certification. It means you cannot even apply for some places without this.
PMP certification can also be very valued if you plan to advance in the current organization you are at. It puts you way ahead of your colleagues in terms of moving up the occupation stepladder. Also, a specialized manager can do much better in a demanding project management interview than a non-certified one.
- Provides Industry recognition
PMP certifications is entirely expected. Many certifications programmers focus only on a specific domain or geography. PMP on the other hand, is worldwide and works with any organization and in any locations. So, regardless of the specialized background and organization, you can improvement by adding the certifications to your resume.
What is the PMP certifications worth in the market? Information show that as the number of certified project directors increases within an organization, the success of projects also increases. Also, the companies recognized that certified directors are better at completing the project on time and within the low-priced.
If you are just starting out your profession in project management, then PMP certifications will make up for the lack of skills. Say you are experience and have an established track record of your effort. Then PMBOK certifications can take you to the next level in your organization.
- learn important skills
Here are many project leaders out there in the jobs market. In such a situation, how do you stand out from the crowd? What’s better way to do it than by suitable PMP certified? It makes your resume more attractive to organizations.
PMP certifications has high standard. As such, it is not easy to clear this exam without wide preparations. Moreover, it required you to master the practical applications of the materials. Attaining PMP qualification will include learning several tough and easy skills. It builds the knowledge of fundamentals project management’s processes tools & techniques and approaches. Further, it exposures you to best practices and present trends in projects directors. You can also learn new tricks and approaches in project organization activities.
Want to keep developed in your career? You cannot do it without becoming improve at what you are doing currently. Knowledge may teach you to improve how you manage projects. But, a certifications can do the same things in a smaller span of time.
- Contributes to highly income salary
The major draw of PMP certification is the highly paid salary it can bring to the project directors. Across the organization the regular salary of certified project managers is significantly higher. A recent PMI inspection states that the regular average salary for a project administrator with certifications is $ 1,08,000. In contrast, the average income for a non-certified project director is only $91,000.
Another survey shows that qualified project directors earn almost 20% more than the non-certified ones. This trends can be seen all over the world including in Middle East country such as Saudi Arabia (IRSA) and the United Arab Emirates (UAE). Among females, PMP expert containers earn a lot more than female, certified specialists in other fields.
What’s more? PMP has constantly been the highest paid IT certification. Also, the trend specifies that PMP incomes will only continue to develop the future.
A part from highly income, PMP certifications improves your job securities. Some organizations value the core abilities learned through certification during downtime. Hence, PMP certificate helps you competitions a possible lay off improved than not having one.
- Networking Opportunities
PMI currently has around 773,840 active PMP approve holders across the world. When you sign up as a PMI associate, you are become part of club. PMI arranged regulate sessions for memberships in major cities across in the world . These meetings are also arranged to help the memberships earn Specialized Development Units (PDUs). These units are needed to achieve Continuous Recommended Requirements, also called as CCRs. These are essential to have the certificates for three years.
The benefits of such networking sessions are countless. In these meetings, one can get to know about any new job chances that are common by people who value this certification. PMI conferences allot specific time to advertised such works. And there are other online and offline communities through which PMPs cooperate with each other. These groups help in structure skilled networks. Further, this certification allows a person to guide the other PMI PMP applicants.
- Validates your dedication to the job
As acknowledged above, there are certain circumstances which are desired to be met before getting PMP specialized. If you are an associate, you require 60 months of knowledge to be appropriate. On the other hand, a person with a bachelor’s degree requires 36 months of work experience. PMP certification has high standards. A potential employer understands that clearing the exam takes dedication to the job. It indicates that you are serious about making project management your long-term career path.
An employee who invests in learning is a big asset for the company. A PMP certification symbolizes your drive towards improving your professional abilities, credentials, knowledge. It also helps you command respect among peers and team members.
We asked some of the qualified project managers the question ‘Is PMP worth it?’
This is what they had to say:
“My response is yes. PMP certificate provides reliability, enhances employment opportunities and growing and gives an edge. It helped me learn methods like EVM, Serious Path etc., these, in turn, helped me managed, lead and direct projects in a better way. Also, the global project management community helps you stay efficient with new practices. To sum up, PMP certificate improves one’s knowledge and increases project success rate” – By Jyothsna
“PMP certificate shows that you have the skills and knowledge that match all the PM prerequisites. Your capabilities as a certified PMP enable you to contribute to organization’s strategies. Well-adapted and executed project management principles can lead an organization to success. This is the reason most organizations are making PMP certificate an important criteria. PMI – PMP certification is a globally recognized certificate. So, go ahead to take PMP certification and explore the opportunities in project management!”
In summary, some people might view PMP certification as expensive, time-consuming and tough. But, many hiring experts treat PMP certification as an important credential that adds credibility to your resume. Further, it helps you build essential skills required to excel in your career.
Are you interested in getting PMP certified? Then train with the best in the industry. Learning Netkom is a leading PMP training organization and an authorized.
We have trained more than 1, 00,000 professionals with an impressive success rate of 98.9%.