Project Management Professional (PMP) -The Deal of the Day!

With pandemic disrupting technologies and industries for the past 2 years, 2022 is striving to evolve from the trouble by beginning the year with a positive start, captivating a lot of technology attention. These emerging techs augment the way organizations do business and take technology innovation to the future and beyond.

Professional certification comes to the rescue in this competitive and digitally-driven world, wherein people are offering their best to prove excellence and stand out.

Up-skilling your career and keeping updated with the latest tech trends in the industry verticals, these credentials help you radiate brighter in the crowd and get you appointed without a second thought.

Today, we will see why PMP is popular and a great deal in modern businesses.

What is PMP?

The Project Management Professional (PMP) is a globally-renowned project management certification accredited by Project Management Institute (PMI). The certificate indicates the experience, education, skill and competency needed to direct and lead projects.

With predictive, agile and hybrid methods, PMP certification proves project leadership experience, high-gearing careers for project leaders across different industry verticals and assisting companies in hiring individuals to work smarter and better.

According to pmi.org, there are more than 1Mn PMP certificate holders globally. Each year through 2027, employers require 2.2Mn new project-based roles.

Significance of PMP

Like a proverb, "Everything has a reason," project professionals in more than 200 countries have a reason for holding PMP certification. It offered real value in professional credibility, in-depth knowledge and maximized earning ability.

It's not only about earning higher salaries across the arc of a career but also about getting credit for what you know and sharpening your skills along with pushing you ahead to excel.

What's more, some recruiters need their project managers to be certified PMP professionals or offer to hire preference in the field of study. Research shows this can assist organizations to be more productive competitive and meet their targets at a swift turnaround time.

Additional studies prove that, on average, 40% of projects are successful, while over 20% fail across different industry verticals. Project success rates tend to be linked with the qualification and experience of project managers, and PMP certification is observed as an indication of success.

In companies where at least 1/3rd of project managers are PMP certified managers, more projects are completed within time, budget and scope. This makes it the most recognized project management certification across the globe.

Who Can Take PMP Certification?

PMP certification is best suited for experienced project managers or leads with significant experience in project management and leadership. However, the certification is not limited to a particular domain and can be leveraged across many sectors.

The following professionals are best suited for the PMP certification course:

• QA managers
• PMO office representatives
• Managers
• Coordinators
• Off-site & on-site coordinators
• Program managers

What is the Prerequisite for PMP?

If you are a skillful project manager responsible for project delivery, directing and leading multi-functional teams, then the PMP is for you. Before taking the PMP certification exam, you must know the test requirements.

Participants must have one among two of the following:

• 4-year degree
• Project leading and directing hours: 4,500
• Project management education hours: 35

OR

• High school diploma, affiliated degree or any other secondary degree

• Project leading and directing hours: 7,500
• Project management education hours: 35

Performance Domain of PMP Certification

Project Management Body of Knowledge (PMBoK) is leveraged as the guide for candidates. The examination validates the aspirants on tasks out of 5 performance domains (till 2019):

• Project initialization (13%)

Initiating any project, sharing ideas, creating project goals, or being part of project management.

• Project planning (24%)

Converting ideas into proper work structure, developing work breakdown structure (WBS), creating blueprints, resource planning, developing, and communication scheme.

• Project execution (31%)

Execution of project scope within a constrained period, problem resolutions, quality management, budgeting, and risk management.

• Project controlling and management (25%)

Project tracking, reporting the project progress and changes needed, performance analysis, issue fixing, resource management, shareholder management, expense management and many more.

• Project completion (7%)

Project delivery, reviewing, documentation, finalizing and final report management. 4500 or 7500-hours of experience can include all the knowledge you have worked for in the project management process, and not necessary to have the designation 'Project Manager'. Moreover, you are not required to have experience in all the 5-performance domains for each project. In PMI's PMP handbook, experience doesn't necessarily have to be paid and be in a professional setting.

What is PMP Exam Format 2022?

The PMP examination has advanced to meet today's market demands of the profession, companies, and you. According to Exam Content Online (ECO) 2021, PMP targets 3 domains for you to gain a competitive edge and prove your talent, they are:

PEOPLE (42% of the exam)

It emphasizes the soft skills you require for the efficient leading of a project team. The people section questions include conflict management, leading and building teams, mentoring, virtual team support, and other related subjects.

PROCESS (50% of the exam)

It strengthens the technical features for the successful management of projects. This section tests your knowledge on the approach of seeing a project through completion and asks about budget management, scheduling, handling of project modifications, and identifying best practices for the project.

BUSINESS (8% of the exam)

It demonstrates the connection between project and company strategy. The exam deals with more business-related subjects such as compliance, value delivery, and company change support in this section.

Approximately half of the content includes predictive project management methods, while the rest consists of hybrid or Agile methodologies.

The PMP exam format is:

• Total questions: 180
• Exam duration: 230 minutes (3 hours 50 minutes)
• Exam break: two 10-minutes break for online-based tests. No scheduled breaks for offline mode exam.
• Question type: combination of MCQs, multiple responses, match the following, hotspot and limited fill-in-the-blank.

How to Get PMP Certification?

1. Meet PMP Certification Prerequisites

Before you take the PMP certification exam, ensure that you are eligible. The eligible criteria or PMP prerequisites are mentioned earlier in this blog. Kindly go through the points to have a brief understanding.

You will want to keep track of your projects and training record information such as roles, responsibilities and training period so that you have the required document handy. The training requirements can be waived off if you are a CAPM professional.

The certificate's validity is 3 years, and you are required to spend 60 hours during that period on professional development programs to maintain it. Else, you will have to sign up to retake the exam.

2. Application

Create a PMI account and start with your application for the PMP examination. This will require sharing basic personal details such as qualification background and project details you worked on. Once you are approved, you can schedule a test by paying the exam fee.

3. Preparation

This is when you prepare for the exam, either yourself or through coursework. Several training centers suggest the spending of 60 to 120-hours for studying. However, this can even take several months, depending on how frequently to study. Therefore, it is always advisable to create a timetable, scheduling your time for learning.

4. Take the Test

You can attend the exam at the nearest test-conducting place or online. The exam duration is less than 4-hours.

5. Maintain the Certificate

As said in the first point, the validity of the PMP certificate is 3-years, and you will have to spend 60 hours on development programs to maintain it.

Should You Get PMP Certification?

As a PMP professional, you can work in any industry vertical. While it requires to complete a few steps to take hold of it, PMP can be a robust tool. Here are some pros and cons of PMP. As pros outweigh the cons, it will justify why you should get PMP or why it is worthy?

PMP Certification Pros

1. Industry Recognition

PMP is a globally recognized certificate. According to several reports, as the number of certified project managers in a company increases, the profit or success rate of the project also increases.

Also, organizations recognize that certified managers are better at project completion on time and within the budget. If you are about to start a career in project management, then this certificate will make up for your lack of experience.

2. Networking Opportunities

According to PMI, there are 16.5Mn PMP-certified professionals around the globe. When you sign in as a PMI member, congratulations you become part of PMI. It holds frequent member meetings in major cities.

These are arranged to assist the members in earning Professional Development Units (PDUs) - needed to fulfil Continuous Credential Requirements (CCRs). Benefits of networking - by constant meetings, one could learn about the new project manager job opportunities.

The meetings allow specific time for job adverts. There are several online and offline mode communities where the PMPs communicate. Hence, we could say these communities can help create a professional network.

3. Adds Value to Resume

There is a wide array of professional certificates that you can obtain for career advancement. But PMP always shines brighter than the rest, making it the most valuable certification.

Anyone can be applicable for project managers, but recruiters who are trying to fill in a position of project managers always prioritize profiles with PMP certifications over the one which doesn't.

Recruiters often find the potential assessment process daunting, with numerous applications reaching their days each day. The PMP certification leads, as it is one of the most targeted methods to shortlist the candidates.

Some companies make it mandatory to have a PMP certification before applying, making the skimming process much more manageable. The certification can be worth it if you plan to advance in your current company. Moreover, a certified manager can handle an exhausting project management interview much better than a non-certified individual.

4. Higher Pay-scale

Another central point of being a certified PMP professional is the cash flow. Across the industry, the average salary of certified project managers is significantly higher.

This has consistently been the highest-paid IT certification that will continue to grow shortly. The accreditation also improves job security. Some organizations value the core competencies learned through PMP during downtime. Therefore, the credential aids in fighting a potential lay-off better than a non-certified one.

PMP salary in 2022 – Glassdoor.com

5. Validates Job Dedications

There are specific requirements needed to be fulfilled before being a PMP certified professional. If you are an associate, you need a working experience of 60 months to be eligible.

If a person has a Bachelor's degree, his work experience must be 36 months to be eligible. Since the certification has high standards, clearing the exam takes dedication to the job.

It highlights that you are serious about making project management your ultimate moto and long-term career. A workforce that invests in learning is a significant company asset.

The certification indicates your drive to enhance professional potential, knowledge, and credentials. It helps you to command respect among co-workers and team members.

PMP Certification Cons

1. Time-consuming Factor

Several people complain about the cost of the time it needs to be a certified PMP professional. As the PMP examination is strenuous, you will need to allot some daily time to be proficient in the PMBoK Guide. Hence a part of the time goes into exam preparation.

But, that’s not all - you will have to read lots of other guides, join preparatory sessions and attend sample tests as a part of PMP preparation. These tasks do take a lot of time. Since most candidates are currently employed, they feel even more frustrated.

Moreover, PMP applications require the documentation of all projects that you perform. Writing even the minutest detail can consume more time than you think it would. Since PMI conducts an audit process to indicate application authenticity.

2. Expensive

The cost of PMP certification is less for PMI members than for non-PMI members. Though PMI membership seems expensive, other benefits associated with it seem to outweigh. Hence, it would be apt to become a PMI member before registering for the exam.

Taking into account the worst scenario where you failed in your first attempt and decided to retake the exam. The cost of retaking the test is quite expensive. So, it's always better to clear it in the first attempt by seeking help from PMP experts to cut down the unnecessary re-examination costs.

Other costs include PMP training classes, preparation resource materials, and sample questions, apart from test costs.

3. Strenuous

Most people argue that the PMP Certification examination is the hardest. The strenuous task is not only the concept memory but also the practical applications. But the cracking of exams truly depends on each individual. Some may take 2 to 3 months, while others can't get certified even after preparing for years.

If the exam was a piece of cake, then there won't be any global value as it has now. This certification's prosperity lies in the rigid standards that are needed to clear and maintain the PMP.

About US

For more information on how iCert Global can help you to achieve your Project Management Certification goals, please visit our website.

https://www.icertglobal.com/

We provide instructor-led classroom and online training across the globe, followed by Corporate Training for enterprise workforce development.