Project Management Institute Certifications
Below are the certifications offered by PMI institute. We will talk about PMP here.
Project Management Professional (PMP) certification is a criterion for evaluating the skills of management professionals in directing projects. It demonstrates the competency of the practitioner in terms of experience and education. This industry-recognized credential is a designation offered by the Project Management Institute (PMI), USA.
Average Salary Range For PMP
USA : $80,000 - $110,000 Per Year (Source)
India: 17,00,000/- INR Per Year (Source)
Who Should Apply For PMP?
Employers usually lookout for professionals who can manage projects, not just effectively but also efficiently. Now, the managers can gain expertise in project management methodology by directly involving themselves in live projects and also by formal education. Experienced project managers along with new professionals entering the field can get this certification. Apart from that, managers, in general, would want to consider getting PMP certified in order to land their dream job or simply bag the much-awaited promotion.
Benefits of Doing PMP
- Monetary Benefit
A PMP certified professional earns 18% above the average salary of a North American IT professional.
- Effort Recognition
It takes the uninterrupted dedication of abilities to earn the designation as the eligibility criteria for taking the exam itself is quite demanding. Therefore, this certification earns a lot of respect in the corporate world.
- Career Enhancement
A practitioner who is PMP certified is an expert in the field and therefore is advantageous when it comes to the market value. Since there will be an estimated growth in the management-oriented jobs in the near future, the career opportunities are also likely to enhance.
- Right Language
Along with learning new skills, the professionals also get to grasp the right business language required for the role. Project management involves the usage of certain terms that are not just industry-related but require a deeper understanding. With the PMP certification, the practitioners can ensure that everyone is on the same page when it comes to handling various projects.
Preparation Cost of PMP
A PMP certification involves a lot of other costs along with just the exam cost. All the processes to become PMP certified involve various costs. They vary from region to region and also from person to person. In brief, the certification involves an application fee and an exam fee plus additional costs to prepare for the exam.
Components of the PMP certification cost
- PMP Training Cost : $50-$3,500
- PMP Prep Duration : 6 Months
- PMP Exam Fee: $405.0 (Member) | $555.0 (Non-member)
Validity of PMP
The PMP certification is 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 earning 60 Professional Development Units (PDU) in the duration of three years and on the third anniversary, a new renewal cycle begins.
How To Take The PMP Exam
Step 1. Eligibility Criteria
- In case of a Four-Year Degree:
Three years of experience leading projects and 35 hours of project management training.
- In case of a High School Diploma/ an Associate’s Degree:
Five years of experience leading projects and 35 hours of project management training.
Step 2. Documenting Information
At this step, practitioners are required to gather all the information regarding the projects they have led and the training they have undertaken so far.
Step 3. Application
In order to apply, a pmi.org account is required and one can save the application while filling in the details.
- It comprises 200 multiple-choice questions out of which 25 are pretest(unscored) questions.
- The standard method of conducting the test is Center-based. However, under certain circumstances, Paper-based testing is also available.
- The allotted examination time is four hours with no scheduled breaks.
Time Taken To Prepare For The Exam
The PMP candidates try to be well-versed with the syllabus and take about 35 hours to prepare for the exam.
For more details, log on to official PMI Website.
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