A Brief Overview of PMP®

A Brief Overview of PMP®

The management sector is ever-expanding, with globalization and industrialization on full throttle the demand for adequate managers is at an all-time high. Reports say by 2027 we would need more than 2.2 million project-oriented roles. 

Managerial positions already make the bulk of corporate employees and the demand is only ever increasing. It’s this demand paired with the high salary offerings that make management a lucrative career option for many. With MNCs and IT firms being spread far and wide it’s very easy to get a globally recognized management certification even in developing economies. The most in-demand certificate of them all is probably the PMP® certification given out by PMI. PMP® training in Kolkata and other similar cities can be an affordable way to give your career a boost. Let’s take a look at some of the basic aspects of PMP® certification.

What makes a person a PMP®?

PMP® stands for Project Management Professional and is a management certification offered by the prestigious PMI (Project Management Institute). A PMP® certification by PMI is one of the most in-demand skills you can add to your resume.

Project Managers certified by PMI earn almost 36% more than their uncertified peers, this speaks of the corporate value this certification holds.

How to become a certified PMP®?

The road to becoming a PMI certified PMP® is fairly simple given you meet all the requirements and prerequisites.

The first and foremost step is to undergo a training session for PMP®. This can be done via online workshops as well as offline ones. A training Bootcamp usually takes 30-40 hrs. and after completion, you’ll be ready to move on to the next step.

After completing your training, you need to make an account with PMI and register yourself along with your educational background and previous project details.

After paying an examination fee you will be ready to give the PMP® certification exam, the exam takes about 4 hours to complete and can be given online as well as at an offline testing center.

However, it must be noted that the certification is valid for 3 years during which one needs to spend more than 60 hours on professional development activities. Failing to do so will result in the certificate being revoked, in such a case the candidate can sit for the exam again to reinstate their certificate.

Who can become certified PMP®?

To sit for the PMP® exam candidates need to meet certain prerequisites and educational qualifications.

The candidate must have a 4-year degree along with 36+ months of leading projects. Along with these, they must have project management education/training for 35 hours or CAPM® Certification.

Or the candidate can also be eligible if they own a high school diploma / an associate’s degree (or a global equivalent) along with 60+ months of leading projects. The eligibility criteria also include 35 hours of project management education/training or CAPM® Certification.

Pros and Cons of Becoming a PMP®

Like most things in life, becoming a PMI certified PMP® comes with its fair share of pros and cons. While not exactly a problem, certain attributes stop people from becoming a PMP® and turn out to be a deal-breaker for aspiring PMP®s. Even though it is widely believed that the pros outweigh the cons by a significant margin, let’s take a look at both for better understanding.

Cons

  • Pricey for some

Becoming a PMP® is quite costly. One of the causes stopping project managers from frowning away from PMP® certification is the certification cost. Getting a PMP® certification costs about 405 USD this is considering you are already a PMI member. For non-PMI members, the cost is a whopping 550 USD. Even if you want to become a PMI member you need to pay a membership charge of 139 USD. All these numbers add up and end up being one of the biggest deterrents to people considering PMP®. Especially in developing countries, it can be challenging for people to spend such a huge sum of money on certification.

Even though you save just 11 USD by becoming a member, PMI membership comes with its fair share of benefits that are well worth the price.

  • Tough to crack

Keeping aside the years of experience you need to even apply for PMP®, there is no denying that the PMP® examination is difficult and many consider. Unlike traditional exams, the PMP® exam does not just solely rely on the memory of concepts but also the practical applications of those concepts. This along with the strict time limit of 240 mins for 200 questions and you’ll have a test that even makes experienced project managers sweat.

Pros

  • Higher Pay

It’s a known fact that PMI-certified PMP®s earn more than your average project manager but how much more exactly? While on average the Pay gap between a certified and an uncertified individual is in the range of 6000 USD to 10,000 USD in annual income the difference can be as big as 30,000 USD over a yearly period with annual income crossing the 100,000 USD mark. That equates to more than 39% of extra pay for doing practically the same job.

  • Attractive Resume

Even with the growing demand for adequate project managers, you need to stand out from the crowd if you want to make it big in your professional career. PMP® helps you achieve just that, the addition of a PMP® certification to your resume makes your CV more attractive to potential employers. This is partly due to the notoriously hard exam, that’s known to get the best of even the most seasoned project managers.

  • Proving experience

As it is known you need years of experience to even be able to apply for the PMP® examination. PMP® exam takes time both in the forms of education and real-life work experience. Thus, clearing the PMP® certification exam proves both experience and dedication of the individual.

Conclusion

We hope this article was able to provide you with all the knowledge you need to know about PMP® or at least enough to get your PMP® career kickstarted.

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