Portfolio Management Professional (PfMP) Details

Certification Industry: Project Management

Certificate Name: Portfolio Management Professional (PfMP)

Certificate Issuing Authority: Project Management Institute (PMI)

Certification Price: US$800.0 (Member) | US$1,000.0 (Non-member)

Certificate Validity: 3 years

Portfolio Management refers to the consolidation of all divisional activities in order to ensure the coordination between strategic objectives and business operations. Portfolio Managers are responsible for handling multiple profiles and ensuring the implementation of all managerial decisions. Portfolio Management Professional (PfMP) certifies that a senior practitioner is skilled enough to align all the projects, programs, and assignments to deliver the expected results with utmost proficiency.

Average Salary Range For PfMP

USA: $113,000 Per Year (Source)

India: 30,00,000/- INR Per Year (Source)

Who Should Apply For PfMP?

It is recommended that the senior-level managers practicing portfolio management and having the required experience to perform the duties shall get this certification along with management accountants and delivery heads. Portfolio managers generally plan on applying for PfMP certification as it is the acknowledgment of superior skills and exceptional management competence in terms of portfolios.

Benefits of Doing PfMP

  1. Superior Capabilities
    Despite the pool of capabilities already possessed by the portfolio managers, PfMP certification ensures that these skills are polished and ready to pave their way in the corporate world.

  2. Universal Recognition
    PfMP is a universally recognized credential in Portfolio management competence. It gains the respect of peers, subordinates as well as superiors.

  3. Salary Increment
    A survey conducted and posted on the PMI website verifies that PfMP certified professionals earn 20% more as compared to the portfolio managers who do not own this certification.

Portfolio Management Professional (PfMP) Exam Details:

Preparation Cost of PfMP

The overall cost for the certification depends upon the PMI membership status of the candidate. Moreover, it is also dependent upon whether the examination is center-based or paper-based.

Examination Fee

Center-Based Testing (CBT)/ Paper-Based Testing (PBT)

US$800.0 (Member) | US$1,000.0 (Non-member)

Validity of PfMP

Similar to PMP and PgMP certifications, PfMP certification is also valid for exactly three years from the date of the certification. For instance, Paul got his certification on 10 July 2018, then it will be valid until 10 July 2021. However, the credential can be renewed by accruing 60 Professional Development Units (PDU) and paying the renewal fee.

How To Take The PfMP Exam?

Eligibility Criteria
  1. In case of a Four-Year Degree:
    8 years(96 months) of professional business experience and 6,000 hours of portfolio management experience.
  2. In case of a High School Diploma/ an Associate’s Degree:
    8 years(96 months) of professional business experience and 10,500 hours of portfolio management experience.

Examination Details

  1. It comprises 170 multiple-choice questions out of which 20 are pretest(unscored) questions.
  2. The standard method of conducting the test is Center-based. However, under certain circumstances, Paper-based testing is also available.
  3. The allotted examination time is four hours with no scheduled breaks.

Time Taken To Prepare For The Exam

Owing to the level of complexity of the exam, it takes a considerable amount of time to prepare for the exam thoroughly. It is necessary to utilize all the available study aids for about one and a half months with 4-5 hours of study each day to excel in the exam.

For more details, log on to the official PMI Website.