PMP is the acronym for Project Management Professional. PMP is a certification provided by Project Management Institute (PMI). PMP certification is globally recognised and the most in-demand certification worldwide. According to PMI’s study, companies would require about 2.2 million PMP annually through 2027.
Project Managers are the driving force behind the success of an organisation today. PMP certification is designed for individuals who want to advance their careers in the Project Management domain. An individual has to pass the PMP exam to obtain this certification.
Experts consider the PMP exam as one of the most challenging professional exams. But with correct guidance, support and practice, more than one million people worldwide have obtained this certification. Read this blog further to understand the following:
- Understanding PMP in detail
- Why obtain the PMP certification
- How to qualify for the PMP exam
- PMP certification cost
Understanding PMP in detail
PMI introduced PMP certification in 1984, which helps professionals demonstrate their skills and experience to employers. PMP certification allows professionals to learn Project Management concepts, principles and practices. PMPs have a better understanding of the industry’s best practices than other non-certified Project Managers.
Forbes described PMP certification as a tool for prospective Project Managers to showcase their ability. PMP certification is tailored to match the responsibilities of a project Manager across the industry, including healthcare, Information Technology (IT), construction and human resource, among many more.
PMP is considered a gold standard in the Project Management domain. PMP-certified professionals earn 16% more wages than other non-certified Project Managers. Earning PMP will set your profile aside from your competitors when applying for the same Project Management role.
Why obtain the PMP certification
Now that we know, what PMP is, let’s see why you should obtain this certification. Here are a few benefits of getting the PMP certification:
- PMP will help you learn how to manage processes and implement principles in projects. You will learn to manage the Project team while ensuring maximum efficiency.
- PMP certification will train you to implement different Project Management methodologies based on the project requirement.
- You will be among the one million PMP holders across the globe, who contribute to 79% of all Project Managers worldwide.
- PMP certification on your profile will help improve your professional standing compared to other Project Managers.
- PMP certification will increase your earning potential.
- As a PMP, you will have 16% more average annual salary than those without this certification.
- PMP provides an opportunity to network with six hundred thousand Project Managers worldwide.
How to qualify for the PMP exam
Now, if you want to gain the PMP certificate, given the benefits of obtaining a PMP certificate, ensure that you’re equipped with the below qualifications:
- Firstly, if you have a secondary degree from a high school or an associate degree in technical education, supplement it with 60 months of work experience. This work experience should be in Project Management roles gained within the last five years.
- If you have a four-year degree in technical education, supplement it with 36 months of Project Management experience. Work experience should be gained within the last five years.
- If you have a master’s degree in technical education, supplement it with 24 months of Project Management experience. This experience should be gained within the last five years.
You will also need to gain 35 Contact hours, I.e., Project Management Training from a PMI – Authorised Training Partner (ATP) or a Certified Associate in Project Management (CAPM) certification. This requirement stays the same for all the above three categories.
PMP certification cost
Compared to non-PMI members, PMI members can obtain the PMP certification at slightly less cost. When taking the exam for the first time, you must pay £345 if you are a PMI member and £473 if you are not.
Additionally, you are permitted to retake the PMP exam three times annually at a reasonable cost. If a PMI member, the re-examination charge is £235; otherwise, it is £320.
The validity of your PMP certification will be three years. You can renew your certificate after completing this duration by obtaining specified Professional Development Units (PDUs).
In this blog, we have given you an in-detail understanding of what PMP is and how it can help you. If you plan to apply for PMP jobs, don’t forget to prepare for the PMP Interview Questions. As discussed above, PMPs are not going out of demand in the near future. So, obtain the PMP certificate and get that job you have always dreamt of!