PMP or Project Management Professional is amongst the most sought-after certifications. It is easy to disregard it as just another trendy course or certification, yet there is more to PMP than meets the eye. The certification is issued by the Project Management Institute (PMI) which is a non-profit organization formed by professionals in the field and is based out of the US. According to data provided by the PMI, there are currently more than 1.4 million professionals who have gained PMP certification globally.
Getting PMP certification requires a lot of effort, hard work, and a proven track record, so is it worth it? For anyone contemplating gaining PMP certification to further their career or add to their resume, it is necessary to conduct a detailed forensic evaluation of the certification. What does PMP encompass? What are the requirements for getting a certification? How easy or difficult is it to get certified? What are the pros and cons of going through with the certification process? Answering all these questions is necessary for you to decide for yourself whether a PMP certification is the right choice for you or not.
What is PMP Certification?
Project management is the process of planning and organizing resources to realize goals drawn out for the project. This seems like a very generic definition, this is because it includes any kind of project, regardless of the scale, scope, or industry. The launch of a new product by an established company is a project, and so is the construction of a new bridge by the government. It is difficult to limit a project in terms of the type of work that needs to be done or the resources needed to complete the project. Instead, a project is any initiative with well-defined goals and objectives.
The job of a project manager is to bring together resources, which may include raw materials, people, capital, time, and so on, in a way that the project objectives are met. In a sense, how effective or ineffective a project manager is will determine whether the project is a failure or a success. The project manager is a multitasker and someone who must shoulder most of the responsibility for the outcome of a project.
PMP certification, as a consequence, is gained after a candidate is tested rigorously for their ability to plan and oversee operations and processes and manage and lead people to meet business project objectives. The certification test is an exam with 200 questions in different formats, ranging from multiple choice, matching, multiple responses, and fill-in-the-blank questions. Out of the 200 only 175 questions are graded, while 25 of the questions are left ungraded. The catch, however, is that candidates do not know which of the 25 questions out of the total 200 will not be graded. The duration of the exam is 3 hours and 50 minutes, equivalent to 230 minutes. Candidates also get two ten-minute-long breaks in the middle.
The paper is further divided into five sections and usually contains scenario-based questions that test candidates on their knowledge, comprehension skills, analytical prowess, and ability to reason and evaluate. While the exam is tough and requires preparations over a period of several months so candidates can revise the syllabus and practice mock exams, it must be noted that not everyone can take the test. You need to meet certain perquisites to qualify to take the PMP exam.
Steps involved in taking the PMP Certification Exam
Here are the steps one needs to take to get a PMP certification:
Step #1
The process begins with checking whether you meet the eligibility criteria for becoming a PMP. The criteria are detailed above and individuals who do not fulfill the criteria cannot gain the certification unless they can meet all the requirements.
Step #2
Once you know you have the credentials to become a PMP you can start preparing for the exam. There are tons of resources online, paid and free, that can help you through the process. You can access mock PMP exam papers and practice these. PMI members can access the institute’s resources. Various paid courses allow project managers to gain theoretical knowledge and even get advice from certified professionals.
Step #3
Next comes applying for the exam through the PMI. You are required to make an account and register with the PMI. The exam is scheduled when you make the payment for the exam.
Step #4
The final step is taking the exam. The exam is nearly four hours long and typically you take the exam in person at PMI examination sites. Clearing the exam earns you the PMP certification. The clearing requirement varies, for example, this year the marks requirement was 61% correct answers to pass the exam.
PMP Certification Exam Prerequisites
PMP is a certification for professionals which naturally implies that only professionals can take the exam and gain the certification. According to Project Management Institute (PMI), there are two different criteria, depending on a candidate’s level of education. These are as follows:
Must have a 4-year university degree from an accredited institute
Have 36 months of experience working as a project manager within the last eight years
Gained 36 hours of project management training or have a CAPM (Certified Associate in Project Management) Certification
Alternatively, the criteria for a candidate without an undergraduate degree is:
Must have a high school diploma
Have 60 months of experience working as a project manager within the last eight years
Gained 36 hours of project management training or have a CAPM (Certified Associate in Project Management) Certification
Is a PMP Certification Worth the Monetary Cost?
Taking the PMP exam is costly. The price differs depending on whether you are a member of the PMI or not. The standard exam fee for non-members is $555 whereas for members of the PMI, the exam fee is $284. The fee is refundable, with a $100 processing charge, on the condition that you request the refund 30 days before the expiration date of the exam.
Additionally, it may seem that PMI members get a huge discount in terms of exam fees, however, the membership fee means that the difference is less drastic than it appears. The initial membership fee is $139 and the membership must be renewed annually for $129.
Finally, the PMP certification once achieved does not last forever. Each PMP certification requires renewal every three years. PMP certification renewal costs $150 for non-members and $60 for members. Renewal requires PMP certification holders to gain 60 professional development units (PDUs) during the three years. The PDUs are entered into the PMI’s Continuing Certification Requirements System (CCRS) after which the renewal fee is paid so the PMP certification can be renewed before it expires. Practically, the cost of PMP certification must consider all the costs, especially if an individual intends to gain and maintain it for the long term.
Weighing the Pros and Cons
To ascertain the value of PMP certification and see whether it is the right certification for you we must examine the pros and cons of getting it. The advantages and disadvantages of PMP certification are as follows:
The Pros of PMP Certification
Skills Acquisition
Getting a PMP certification is not just about clearing an exam. The stringent eligibility criteria require potential candidates to gain experience in the field of project management. This requires certification holders to not only have in-depth knowledge of the theoretical concepts but also practical experience in leading projects and teams. Furthermore, the renewal requirement for the certification means individuals will strive to gain PDUs by attending meetings and seminars and by taking courses, all of which ensure that new skills are learned and developed. The certification encourages candidates to keep upgrading their skills and helps them remain up-to-date with the latest developments in the field of project management. This is especially invaluable for dynamic and ever-changing industries like IT.
Career Development
The certification is a gold standard in project management. It is accepted and recognized across the board. It does not matter in which industry you work, PMP certification is a definite advantage to have on your resume to further your career. It is a mandatory requirement for some jobs and designations. Overall, getting a PMP certification makes you a more appealing candidate and this can greatly help with career growth and development.
Networking and Making Connections
PMP holders get several opportunities to connect and network. The PMI arranges meetings for PMP certification holders all over the world. This allows professionals to meet and exchange ideas. It is an opportunity to learn from industry professionals. Professionals can link with one another, and this can assist them with career development as well. Getting professionals together in study groups or forums enables them to cooperate and collaborate on projects.
PMP certificate holders earn an average salary that is 16% more than their peers. Simply having the certification increases employment opportunities and helps with career development, it also improves earning prospects.
The Cons of PMP Certification
The Cost
A PMP certificate is not free. The exam fee is quite high when compared to other certifications. If you apply as a member of the PMI, again you have to bear the cost with a slight discount. Some people also have to spend money to get training and prepare for the exam. Additionally, the certification lasts for three years and requires renewal. The renewal also has a fee.
Time and Effort
The PMP certification exam is hard. It takes a lot of time and effort to prepare for it. Some individuals even take preparatory classes. This is especially difficult for professionals with full-time jobs as they must allocate time to prepare for the exam on top of working a hectic 36 to 40 hours per week. Managing time and resources to concentrate on the theoretical aspect of the test can be challenging and not worth the effort for some.
Limited Longevity
Once you clear the PMP exam and gain the certification you must renew it every three years. Despite the high cost and difficulty of the exam, the certification has an expiration date. While the reason for renewing the certification is genuine, it keeps professionals updated and current, for some the hassle is too much. You may simply not consider the certification worth all the work that needs to be put in.
Making the Decision
Weighing the pros and cons it is clear that deciding to become PMP certified is no small feat. On one hand, the certification has major barriers in terms of the eligibility criteria, the cost, and the resources necessary to prepare for the exam. However, the PMP certification does have its merits and may very well worth the effort. It is a valuable addition to a professional’s skill set. It is great for furnishing a resume and furthering one’s career, especially in certain industries. The certification may even be a mandatory requirement for some kinds of jobs. Professionals who get the certification are part of a well-connected network and this again can be invaluable in meeting career goals and getting further.
Each individual needs to consider the benefits and costs of becoming certified and decide whether it is the right fit for them or not. There is no clear answer as every individual’s career trajectory is different. PMP certification is also more highly valued in some industries than others. For instance, a certification is very helpful if you are in IT, construction, or healthcare. Whereas in some other sectors of the economy, a certification may not be as useful, and it may not even make a difference if have acquired one or not.
Take all the variables into consideration before you make the choice. Examine your personal goals and professional journey and make the decision based on these. Not everyone benefits from a certification equally, it also depends on how you utilize it. There is no simple answer as the matter is complex but hope the details provided help you to decide whether you should get PMP certified or not. Take a quiz today and find out if you would make a good project manager.