6 Reasons why PMP certification is worth it.

Introduction

A recent PwC survey states that certified PMP project managers handle quite three fourth of the high-performing projects. Also, companies with quite one-third PMP certified managers have far better project success than companies that don't. What's more? PMP is that the fifth highest-paying certification within the year 2016.

Sounds important enough? If it does, the subsequent question is do you have to get PMP certified? Before we explore this question during this article, allow us to first understand what PMP stands for.

What is a PMP certification?

Project Management Professional (PMP) may be a globally recognized professional certification. It is offered by the Project Management Institute (PMI), a US non-profit professional organization. A well recognized and revered credential, PMP is taken into account essential for the project managers. Especially, for those that wish to require a subsequent step in their career.

What is the PMP certification exam about?

Project Management Body of data (PMBOK), with industry standards, is employed because of the guide for testing aspirants. The PMP exam tests the applicants on tasks out of 5 performance domains

• Initiating the project (13%)
• Planning the project (24%)
• Executing the project (31%)
• Monitoring and controlling the project (25%)
• Closing the project (7%)

*The number in parentheses indicates the weightage given to each domain in the exam.

The exam has about 200 multiple-choice questions. Out of those 25 aren't counted towards the ultimate score. These are used as pilot inquiries to improve the quality of the exam. But, one cannot know what the sample questions are as they're placed randomly throughout the exam. Also, it is a closed book test. It means no reference material is going to be allowed to be employed by the applicant during the test.

What are the PMP exam requirements?

To the question of who should apply, PMI states:

• "If you're an experienced project manager liable for all aspects of project delivery, leading and directing cross-functional teams, then the PMP is that the right choice for you.
• More importantly, there are certain prerequisites one should meet to be certified. A candidate must have either
• Secondary degree (high school diploma, associate's degree, or the worldwide equivalent.
• 7,500 hours leading and directing projects
• 35 hours of project management education

OR

• Four-year degree
• 4,500 hours leading and directing projects
• 35 hours of project management education

Is PMP certification worth it?

Now that we understood what PMP is all about, let's come to the first question. Should you get a PMP certification? There are both costs and benefits to getting the PMP certification. But, many hiring experts and authorized professionals agree that benefits far outweigh the prices.

First, allow us to check out a number of the issues cited with PMP certification.

1. It is expensive

If you're not a member of PMI, the value of the PMP certification is 550 US dollars. However, if you're a member then you only got to spend 405 US dollars to write down the exam. But PMI membership itself costs 139 US dollars. Though you save only 11 USD by becoming a PMI member, there's a host of other benefits that are related to the membership. Hence, it's highly suggested that you simply become a member of PMI before registering for the exam.

Additionally, if you fail in your first attempt and need to retake the exam, you would like to pay 275 USD if you're a PMI member and 375 USD if you are not a PMI member.

Apart from the value of the exam, there are several other costs that one incurs during the preparation. These include the value of PM training sessions, preparatory books, sample questions, etc. Considering these, one must spend a minimum of 750 USD to realize this certification. Yet, most experts agree that this cost is nothing compared to the career growth that one can have through this certification.

2. It is difficult

Most people agree that PMP may be a difficult exam. Some even say that it is the hardest exam that they have ever taken. The difficulty lies within the incontrovertible fact that the exam tests not only the memory of the concepts but the sensible application of them. When you add the pressure of your time (you got to answer 200 questions in 240 minutes), it becomes terrifying for even a seasoned project manager. Also, there are individual differences in how long one takes to achieve the exam. Some take two to three months to succeed. Others cannot get certified even after preparing for years.

But, the purpose is that if the exam were a cakewalk and anyone could pass it easily, wouldn't it be as valued because it is today? Definitely not! The prestige of this certification lies within the tough standards required to clear and maintain the certification. Thus, PMP certification does need diligence from your end. But the great news is that the fruits of this effort are going to be sweet.

3. It is time-consuming

Yes, there is a financial cost. But, for many people, the larger problem is that the cost of your time. They complain about the number of hours it requires to urge PMP certified.

A part of it's to try to to with preparation itself. As the exam is difficult, you would like to line aside a while daily to master the PMBOK guide. But, most people agree that's not all. You need to read up several other guides, attend preparatory sessions (if you join any) and write sample tests as a part of your preparation. All these activities do take up considerable time. Since most aspirants are people who are currently employed, they feel even more crunched for time.

Alongside, the PMP application needs you to document all the projects you executed. That too, you would like to write down the minutest detail about these projects. Sounds simple, but it's tough and requires tons of your time. Also, one cannot take this activity casually. That's because PMI conducts an audit process to determine the authenticity of applications.

Yes, these problems look intimidating. But, within the face of the benefits of PMP certification, these seem almost irrelevant. Let us now examine the pros of PMP certification.

Benefits of doing a PMP certification

1. Adds value to the resume

There are several professional certifications that you simply can pursue throughout your career. But, among all of these, PMP certification is that the most precious certificate program. Interviewers looking to fill a position of a project manager understand this. Hence, they have a tendency to prioritize profiles with PMP certification over those which don't have such certification.

Project management jobs are high in demand. So, in most cases, several people apply for these jobs. It is time and resource-consuming for the corporate to interview and assess the potential of all the applicants. As such, they wish to filter as many of us as possible before the project management interview process. This is where the PMP certification proves beneficial because it is one of the foremost objective ways during which one can shortlist the candidates.

Furthermore, many companies are making it mandatory to possess a PMP certification. It means you can't even apply for a few positions without these credentials.

PMP certification also can be extremely valuable if you propose to advance within the current company you're performing at. It puts you way before your colleagues in terms of moving up the career ladder. Also, a licensed manager can do far better during a grueling project management interview than a non-certified one.

2. Provides Industry recognition

PMP certification is universally recognized. Many certification programs focus only on a selected domain or geography. PMP on the opposite hand is global and works with any industry and in any location. So, no matter the professional background and industry, you'll gain by adding the certification to your resume.

What is the PMP certification value within the market? Data show that because the number of certified project managers increases within a corporation, the success rate of projects also increases. Also, the businesses recognize that certified managers are better at completing the project on time and within the budget.

If you're just starting out your career in project management, then PMP certification will structure the shortage of experience. Say you're experienced and have a proven diary of your work. Then PMBOK certification can take you to a subsequent level in your company.

3. Helps you learn important skills

There are many project managers out there within the job market. In such a scenario, how does one stand out from the crowd? What better way to do it than by becoming PMP certified? It makes your resume more attractive to companies. More significantly, PMBOK certification teaches you important skills to excel in your career.

PMP certification has high standards. As such, it's tough to clear this exam without extensive preparation. Moreover, it requires you to master the sensible application of the fabric. Attaining a PMP credential will include learning several hard and soft skills. It builds the knowledge of fundamental project management processes tools & techniques and methodologies. Further, it exposes you to best practices and current trends in project management. you'll also learn new tricks and techniques in project management activities.

Want to keep growing in your career? You cannot roll in the hay without becoming better at what you're doing currently. Experience may teach you to enhance how you manage projects. But, a certification can do an equivalent thing during a lesser span of your time.

4. Contributes to higher income

The biggest draw of PMP certification is that the higher salary it can bring back the project managers. Across the industry, the typical salary of certified project managers is considerably higher. A recent PMI survey states that the average median salary for a project manager with certification is $ 1,08,000. In contrast, the median income for a non-certified project manager is a mere $91,000.

Another survey shows that certified project managers earn almost 20% more than non-certified ones. This trend is often seen everywhere on the planet including in Middle East countries like Saudi Arabia and therefore the United Arab Emirates. Among women, PMP certified holders earn tons quite female, certified professionals in other fields.

What's more? PMP has consistently been the highest-paid IT certification. Also, the trend indicates that PMP salaries will only still grow in the future.

Apart from higher-income, PMP certification improves your job security. Some companies value the core competencies learned through certification during downtime. Hence, a PMP credential helps you fight a potential layoff better than not having one.

5. Provides networking opportunities

PMI currently has about 773,840 active PMP certification holders across the planet. When you check in as a PMI member, you become a part of that club. PMI arranges frequent meetings for members in major cities across the planet. These meetings also are arranged to assist the members to earn Professional Development Units (PDUs). These units are needed to satisfy Continuous Credential Requirements, also called as CCRs. These are essential to staying the certification for 3 years.

The benefits of such networking sessions are many. During these meetings, one can get to know about any new job opportunities that are shared by people who value this certification. PMI meetings allot specific time to advertise such jobs. And there are other online and offline communities through which PMPs interact with one another. These communities help in building professional networks. Further, this certification allows an individual to mentor the opposite PMI PMP aspirants.

6. Validates your dedication to the job

As mentioned above, there are certain conditions which are needed to be met before getting PMP certified. If you're an associate, you need 60 months of experience to be eligible. On the opposite hand, an individual with a baccalaureate requires 36 months of labor experience. PMP certification has high standards. A potential employer understands that clearing the exam takes dedication to the work. It indicates that you simply are serious about making project management your long-term career path.

An employee who invests in learning may be a big asset for the corporate. A PMP certification symbolizes your drive towards improving your professional abilities, credentials, knowledge. It also helps you command respect among peers and team members. We asked a number of the certified project managers the question ‘Is PMP worth it?'

This is what they had to say:

"My answer is yes. PMP certification provides credibility, enhances employment opportunities and growth and provides a foothold. It helped me learn techniques like EVM, Critical Path, etc, These, in turn, helped me manage, lead, and direct projects in a better way. Also, the worldwide project management community helps you stay updated with new methodologies. To sum up, PMP certification enhances one's knowledge and increases project success rate" - By Jyothsna V PMP

"PMP certificate shows that you simply have the talents and knowledge that match all the PM prerequisites. Your capabilities as a licensed PMP enable you to contribute to the organization's strategies. Well-adapted and executed project management principles can lead a corporation to success. This is the reason most organizations are making PMP certificate important criteria. PMI - PMP certification may be a globally recognized certificate. So, go ahead to take PMP certification and explore the opportunities in project management!" – Ankit Rastogi, PMP

Conclusion

In summary, some people might view PMP certification as expensive, time-consuming and difficult. But, many hiring experts treat PMP certification as a crucial credential that adds credibility to your resume. Further, it helps you build essential skills required to excel in your career.

So yes! PMP certification is worth the effort.

Are you interested in getting PMP certified? Then train with the best in the industry. GreyCampus may be a leading PMP training organization and a licensed PMI REP (Registered Education Provider). We have trained quite 1, 00,000 professionals with a powerful success rate of 98.9%.