PMP Certification Benefits

What's PMP Certification?

Before getting into the nitty-gritties of PMP, let us first understand what exactly PMP means in this context. PMP stands for 'Project Management Professional,' which is an internationally recognised professional designation. The official body that offers this is the 'Project Management Institute (PMI),' a non-profit organisation. PMI operates in over 200 countries and areas across the globe, with over 2.9 million professionals. Before we go further, please note that the role of a project manager is vastly different from that of a 'product' manager.   

PMP is considered to be one of the hardest and most time-consuming exams, but it is prestigious enough to give you a host of benefits that will boost your career and professional life in several ways. The PRINCE2 certification is also similar to the PMP but has a different set of criteria and process.

Here is an overview of the PMP exam process and what you gain from the certification.

PMP Exam Question Pattern

Candidates will have to clear a PMP examination consisting of 200 multiple-choice questions, which describe “tasks” based on five performance domains: 

1. Initiating the project 
2. Planning the project  
3. Executing the project
4. Monitoring and controlling the project 
5. Closing the project  

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However, from July 2020, the exam is going to have three entirely new domains:

1) People:                                

42% of the questions on the test will be based on 'people.' Areas like managing conflicts (how would you resolve a conflict), leading a team (setting a clear goal, support diversity), negotiations (prioritising objectives) are tested. 

2) Process: 

50% of the exam's weightage comes from this section. Communications (methods, channels, frequency), risk management, budget (estimating budgets, potential future constraints), etc. are tested here. 

3) Business environment: 

The remaining 8% of questions are from business development. Project compliance (security, safety, regulations), organisational change, etc. are the topics covered. 

PMP Certification Benefits

PMI claims that this is the 'most important industry-recognised certification for project managers.'  There are a huge list of PMP Certification benefits and all of them are crucial to the proper functioning of a management team. Given below are a list of few PMP benefits:  

1) Adds value to your resume: 

For such a high-demand profile like this, it is certainly an advantage to have a PMP certificate on your resume - this globally-valued certificate is an indication that you are proficient enough with project management and are thoroughly dedicated to the profession.  

2) Career Opportunities: 

Like any other top educational qualification, having a PMPon your resume exposes you to plenty of job opportunities and greater responsibilities. On the same note, there are certain jobs that you can apply for only if you have a PMP certificate, irrespective of experience.    

Some of the top jobs you can score with a PMP certificate are:

a. Engineering PMP - completing a project within the time and budget constraints

b. Consulting PMP - works with various types of clients to furnish industry expertise, so they can be successful in their venture

c. Pharmaceutical PMP - development of new medication for various treatments and problems

3) Networking: 

There are many PMP Certification benefits and one of them is networking. You can now connect with a plethora of organisations and experts worldwide. This further enhances your knowledge and is also an essential part of the professional development units you should earn to maintain the certification. 

4) Employer’s gain: 

Another PMP certification advantage caters the employers of the candidates too - those organisations complete more projects on time and within the constraints. This leads to a higher rate of customer satisfaction, as well.  

5) Higher pay: 

Of course, as a certificate holder, you will also have the benefit of a higher salary (as high as 25%) compared to those who don’t have the qualification. The exam is expensive to write (fee, membership, classes, etc.), but you will certainly receive and achieve much more in your career with a PMP certificate. 

6) You stay up-to-date: 

Perspectives and technologies are shifting everywhere - the digital revolution is taking over. In such a scenario, project leaders need to be equipped with the tools to adapt to the latest trends and practices using appropriate techniques (say, the Agile methodology). A variety of soft skills are also taught as part of the course, like decision making, motivation techniques, and negotiation skills. 

PMI's report says that 6.2 million jobs will be created in 2020 in this field, and the total value of this profession would rise to $5.81 trillion. All these are included in the benefits of PMP Certification in India. Moreover, the PMI India Awards Program (since 2009) is the highest honour for the project management community in the country, which also recognises the contribution to the field by academia. 

To Summarise                                                       

This article has covered a brief overview of the process, a few PMP Certifica advantages, and the current market scenario, among others. As mentioned in the article, there is scope for rapid professional growth with this qualification, and possessing a PMP tag is bound to keep you in demand in today's job market.