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Project managers are an asset to an organization. They are responsible for laying the foundation for business by project planning and deciding workflows and ensuring efficient execution.
PMP stands for Project Management Professional, and the PMP certifications is offered by the highly reputed Project Management Institute (PMI).
PMP™ Certification is a globally recognized professional certification and is considered essential for many project management positions. PMP certification has practical relevance in many industries like transportation, construction, IT, services, oil, and gases, engineering, and architecture.
Being PMP certification is one of the top certification programs available, PMP certified managers are often well represented among these higher-performing projects.
What is the PMP certification about?
PMP certification assesses if you have the criticality, salience, and relevant specialized knowledge and skills to become a high-level project manager.
The PMP certification exam covers five different topics in Project management. These are listed below with their respective weightage in the exam:
- Project initiation (13%)
- Project planning (24%)
- Project execution (31%)
- Monitoring and controlling the project (25%)
- Closing the project (7%)
Knowing the weightage helps you to decide what topics you must prioritize. There are 200 multiple-choice questions in the PMP exam.
What are the prerequisites to give the PMP certification exam?
There are two options of prerequisites to appear for the PMP certification exam:
- A four-year degree, 4500 hours as a project leader or director, and 35 hours of project management education.
- A secondary degree, 7500 hours as a project leader or director, and 35 hours of project management education.
Many people hesitate to acquire this certificate due to the investments involved, both in respect of time and money. But PMP training is worth it, especially in the current business scenario which is highly dynamic. Here, we discuss some of the benefits of PMP certification that makes it worth it:
What are the Benefits of PMP certification?
Gaining the PMP certification proves that you have put in the hard work and time to acquire relevant skills and knowledge. Since project manager jobs are high in demand, the number of candidates applying for this role is high.
It adds value to your resume
A PMP certificate is a highly valued certificate program. Recruiters understand this. They give priority to a certified candidate over a non-certified candidate.
It is not feasible for the recruiters to go through the interview and other recruitment processes for such a large number of candidates. They perform a screening test based on the profile of the candidates. This is where your PMP certification will come to your rescue.
You can easily pass this round based on your certification. Also, the companies are aware that the role of a project manager is very crucial for the organization, therefore, they prefer candidates who have prior in-depth knowledge and relevant hands-on skills.
You can be directly shortlisted for an interview. Furthermore, companies are encouraging their employees to take up the certification. It is not only beneficial for your career but is also advantageous for your organization. Stakeholders prefer PMP-certified professionals for their projects.
The average salary of a PMP certified Project Manager is high. According to a recent survey by PMI, the average salary of a PMP certified Project Manager is $108,000, whereas the average salary of a non-certified Project Manager is $91,000.
Another survey shows that the income of a PMP certified professional is 20% higher than a non-certified professional. PMP certification is one of the highest-paid certifications. The same trend is followed all around the world.
Finally, the PMP Certification is likely to increase your chances of getting promoted over your non-certified colleagues.
Enhance your career opportunities
Industries are becoming project-oriented. Healthcare, oil and gas and other large industries are hiring project managers in larger numbers. The demand for PMP certified project managers is high, and this trend will continue into the future.
A recent study conducted by PMI, where they commissioned Anderson Economic Group, estimated a growth of 33%, or 22 million jobs, through 2027. Companies hiring PMP-certified project managers are the likes of Amazon, Facebook, Cognizant, Capgemini, etc.
The PMP certification exam is not easy. It requires extensive preparations. You need to learn many hard and soft skills to gain the PMP certification. You will learn several project management tools and techniques.
Provides industry recognition
PMP certification is globally recognized. Many certifications focus on a particular industry or geography, but PMP is universal. It works with any geographical location and industry. Therefore, you can add PMP certification to your resume irrespective of your professional background.
Studies show that the increase in the number of PMP-certified candidates increases the success rates of projects. Also, the companies consider them as an asset and rely on them for challenging projects since you have the skills and knowledge to handle them.
PMP certification is a symbol of excellence in this field. According to research, 90% of projects that fail, suffered from a lack of proper project management. Hence, you can estimate how crucial good project management is for a project, and for the organization as a whole.
A certification guarantees that you acquire the necessary tools for efficient project management. You go through real-life case studies and understand predictability. You attain sufficient hands-on training during your PMP certification training to make you well-equipped with practical scenarios.
Provides networking opportunities
PMI has around 773,840 active PMP certification holders all over the world. It is a very bright and active community. You become a part of this community when you sign up for the PMI. PMI arranges conferences and meetings frequently across major cities in the world.
These meetings also aim at helping the members gain Professional Development Units (PDUs). These units are required to fulfil Continuous Credential Requirements (CCRs). You will get to know about many career opportunities during interactions in these meetings.
This professional network will put you across exciting places. Platforms like conferences, brown bag sessions, online communities, discussion boards, etc., connect people across the globe with PMP certifications.
Showcases your dedication
As we mentioned, the PMP exam requires exhaustive preparation and sufficient hands-on skills. The questions asked are based on real-life scenarios and checks your aptitude skills too.
Employers consider you as goal-oriented and motivated since you have acquired the PMP Certification. It also proves that you are dedicated to improving your skills, knowledge, and credentials.
A potential employer understands this and may very well give you priority during the hiring process. You gain respect from team members, clients, peers, and employers. You will be able to easily handle the teams and ensure timely deliveries, along with maintaining a social work-life balance.
Many aspirants hesitate to give the PMP certification exam due to the investment of time and money it demands. But your decision must be based on analysis of input vs. output. There are many benefits of gaining PMP certification.