The PMP Management Edge
Project management has come a long way from its industrial beginnings in U.S. construction, defense, and aerospace. Nowadays, it applies to more commercial landscapes such as billion-dollar corporations. It became such a crucial part of organizational movements that in the late 1960s, Jim Snyder and Gordon Davis founded the Project Management Institute to professionalize the field of project management.
The PMP or the Project Management Professional is this nonprofit organization’s first-ever credential launched in the 80s. PMP management can then be explained as having project management done by a trained professional. It has been a global standard for most project management activities ever since the PMI started the PMP credential. It now spans into world-wide areas and caters to millions of professionals.
Apart from offering certification, the PMI also does research, training, industry standards development, conference hosting, and journal publishing. It also does regular updating of the Project Management Body of Knowledge -most popularly known in the world of PMP management as the PMBOK. This is a collection of guidelines, terms, processes, best practices, and overall standards in the field of professional project management.
What sets the PMP above your regular project manager?
You could check out several things to see exactly how a PMP holds the edge in project management:
1. They have a strict list of prerequisites.
PMI puts forward specific requirements that would allow a person to apply and take the exam. This makes sure that each applicant meets all criteria from the very beginning:
- A bachelor’s degree with three years of project management experience and a total of 4,500 hours spent leading or supervising projects; or
- A secondary, high school or associate degree with five years of project management experience and a total of 7,500 hours spent leading or supervising projects
- On top of your educational background and experience, you also need to attend 35 hours worth of Project Management Education. Online courses can be accessed for this. Try to check out courses directly targeted towards making you PMP-ready as this could help out a lot.
Keep in mind that these are requirements that an applicant must first complete before they can apply.
2. Application and Examination.
A five-day wait exists after first applying for the PMP exam before an applicant pays the exam fee. After which, the applicant has 90 days to submit the papers certifying that they have met the requirements.
At this period in time, a random audit takes place with about 5-10% of the total number of applicants. This ensures that the group can carefully review your credentials to see if you have adequately met the conditions set. This part of the process makes sure that only all qualified and eligible applicants acquire certification.
Once cleared, the applicant receives an authorization code through email. This allows them to take the exam which is a 200 item multiple-choice questionnaire that lasts for four hours. The results come out right after taking the exam, and in case of failure, a retake will cost a fee.
Generally, within one year of the application, a person can have retakes. After this period, the test-taker must repeat the application process.
3. Continuing Education.
A required number of PDU or professional development units enables a certificate-holder to renew PMP status. Attending events or taking courses related to PMP management gives you PDUs. This ensures that a PMP’s knowledge and skills in project management are up to date.
4. Better Compensation and Higher Preference.
PMP management can cost more than regular project management. On average, a PMP certificate holder earns about 23% more than their non-certified colleagues.
Despite this pay difference, companies and organizations still like PMP holders better. That’s because, most likely, as the saying goes, you get what you pay for.
So why exactly do companies lean more towards PMP certified managers despite having to pay 23% more to get things done?
Higher success rates
Efficiency is one of the hallmarks of PMP management. PMP certified persons have the background, training, and credentials to perform project management tasks with ease and proficiency. This means that they can approach different assignments with better systems and more efficiency.
Organizations highly favor this since efficiency saves a lot of resources such as time and money. Less hiccups should be experienced along the way and less chances of do-overs with projects. There is an optimum maximizing of resource allocation. A manager who knows how to maximize resources is a valuable asset to any company, and a PMP certified manager will more likely be this type of worker.
Almost everyone knows how well PMP management works and how credible certified professionals are in the field of project management. This will, therefore, attract more clients for the company involved.
Companies with credible personnel draw in more clients and having a PMP certified employee (or more) on board becomes an asset in their eyes. And why not so? They get assured of high quality and efficient work.
PMI, with its global presence, sets a fixed standard for its processes. That means PMP management in one corner of the world holds the same standards as with everywhere else with the PMI’s presence. Companies who have a PMP-certified project manager may be able to easily relate to other companies with their own PMP-certified project manager.
This could even work internally with PMP certified managers heading different departments within a company. This should result in a more streamlined internal process and a clearer overall direction.
The PMI gold standard
A piece of certification alone does not define PMP management. It stands for something deeper and more valuable. It ensures organizations that the person they have hired has the right education, experience, and accreditation to be able to do the job well.
Beyond that, PMP management ensures that the organization hires a person with integrity and professionalism. The PMI’s code of ethics which upholds honesty, responsibility, respect, and fairness makes sure each member is accounted for. The organization places a huge importance on having values and being ethical in the conduct of project management.
Overall, with a PMP on board, organizations can be assured not only of a high-performing individual with the right mindset but also of a professional team-player with the right principles.