The Project Management Professional (PMP) certification is a globally recognized credential for project managers. It demonstrates your knowledge, skills, and commitment to the project management profession. If you’re considering pursuing the PMP certification, you may wonder about the benefits it can bring to your career. In this article, we will explore the 13 significant benefits you can enjoy once you obtain the PMP benefits.
PMP Certification
Project Management Professional (PMP) is a certification and exam offered by the elite organization, the Project Management Institute, or PMI. There are countless benefits associated with this certification and many managers earn their PMP to gain a leg up in the world of project management.
Can anyone apply for PMP?
While the PMP certification is very sought-after, it is not easy to achieve. Not everyone can apply for and qualify for the PMP exam. The Project Management Institute requires extensive prerequisites in order to earn this certification.
In order to earn the benefits that come with the PMP, you will need to accomplish the following prior to taking the exam:
- Earn a 4-year bachelor’s degree
- Have 35 hours of PM education
- Complete 4500 hours of experience leading and directing projects
Remember, if you have a second degree, you are able to earn the PMP if you fall into these categories:
- Your secondary degree or high school diploma
- 35 hours of PM education
- 7500 hours of experience leading & directing projects
What is the investment for PMP?
The PMP will take a lot of time, energy, and money to earn. If you want to reap the PMP benefits, you need to assess the costs that come with earning this certification.
What is the cost involved for PMP?
You must be thinking in a project manager mindset and evaluate the true Return on Investment of taking the PMP exam. Next, we will explore the cost of taking the exam so that you can make the best decision for your life and career.
The PMP exam will require you to pay an exam fee, membership fee, payment for a study guide, and question bank, too. The exam fee is $405 if you are a member of the PMI and you will pay an extra $139 for an annual membership.
A major cost to consider is the amount of time and money required for this certification. You must pay the exam fee and earn 35 contact hours. You can earn 35 contact hours through PMP training courses. In order to budget and cut back on the expenses required, you may have to sacrifice proper preparation. In order to train fully, it is important to make the proper investments.
35 Contact Hour Courses
There are a few different ways in which you can earn the 35 contact hours. If you are a physical learner, you can join face-to-face classroom sessions such as PMP Boot Camps or PMP Certification Exam preparation. Boot camps can be costly and we encourage you to explore online options to cut down on costs. Online preparation courses also come with the ability to be flexible. You can study anytime, anywhere.
Time Investment for PMP Benefits
Keep in mind that you must be willing to dedicate your time to studying and preparing for the PMP in order to commit to earning this certification. PMP exam preparation needs constant dedication, and it is estimated that students will need 12-16 weeks of study time in order to be fully prepared. We recommend that you use a study guide and stick to a regular cadence of preparation every day. Try to dedicate at least an hour to studying each day, and 6-8 hours each weekend when you are off work/school.
Once you have dedicated enough time to study, it is important to test yourself and take practice exams. Utilize the PMP question banks to know how well prepared you are. Be sure to track sections you are not as well-versed in so that you can go back later and review. Use all of the resources available to you, such as mock tests, question banks, and boot camps.
There are also apps you can download onto your phone for easy, convenient study material you can access on the go. As a project manager, you must use your time wisely!
PMP Benefits
The PMP requires extensive investments and sacrifices. However, you will earn benefits that are well worth it such as:
1. Enhanced Career Opportunities
With the PMP certification, you become eligible for a wide range of career opportunities. Many organizations prioritize hiring or promoting project managers who hold the PMP certification due to its global recognition and credibility.
2. Increased Earning Potential
Research has shown that PMP-certified professionals earn higher salaries compared to their non-certified counterparts. The PMP certification can significantly boost your earning potential and provide a competitive edge in salary negotiations.
3. Global Recognition
The PMP certification is recognized and respected worldwide. It demonstrates your ability to manage projects effectively and efficiently, making you a valuable asset in both local and international project environments.
4. Expanded Professional Network
By becoming a PMP-certified professional, you join a global community of project management practitioners. You gain access to exclusive networking opportunities, professional forums, and events that can expand your professional network and foster collaboration.
5. Improved Project Management Skills
The PMP certification requires a comprehensive understanding of project management principles, processes, and best practices. The certification process helps you develop and enhance your project management skills, enabling you to deliver successful projects consistently.
6. Credibility and Trust
The PMP certification provides credibility and instills trust in your project management abilities. It demonstrates to employers, clients, and stakeholders that you possess the necessary knowledge and skills to lead projects effectively.
7. Better Job Performance
The knowledge and techniques you gain through the PMP certification can significantly improve your job performance. You will have a structured approach to project management, allowing you to deliver projects on time, within budget, and according to scope.
8. Competitive Advantage
In a highly competitive job market, the PMP certification gives you a competitive advantage. It sets you apart from other candidates and demonstrates your commitment to professional development and continuous improvement.
9. Project Recognition and Visibility
As a PMP-certified professional, your projects gain recognition and visibility. The PMP certification signals to stakeholders that your projects are managed with industry-standard practices and have a higher likelihood of success.
10. Access to Exclusive Resources
PMP-certified professionals gain access to exclusive resources, such as online communities, research reports, best practice guides, and industry publications. These resources can provide valuable insights and support your professional growth.
11. Continuous Professional Development
The PMP certification requires ongoing professional development to maintain its validity. This commitment to continuous learning ensures that you stay updated with the latest trends, methodologies, and best practices in project management.
12. Leadership and Communication Skills
Preparing for the PMP certification exam enhances your leadership and communication skills. The certification process emphasizes these essential skills, enabling you to effectively lead project teams, engage stakeholders, and communicate project objectives.
13. Personal and Professional Growth
Achieving the PMP certification is not just a professional accomplishment; it is also a personal milestone. The knowledge, experience, and growth you gain throughout the certification journey contribute to your overall personal and professional development.
More PMP Benefits you can expect
The PMP benefits are not yet exhausted. Next, we will explore intangible perks that come in addition to salary and company competitiveness.
- Knowledge to speak the same language as clients and board members in the PMI space
- Better communication is crucial to successfully complete a project
- Career growth opportunities relating to volunteering and community involvement
- Clear view of commitment towards the world of project management
- More competitive job prospects
- Preference over non-PMP candidates in the job market
- Awareness of industry changes and management best practices
- Ability to earn your agile training certification
- Adding PMP to your name on all professional documents
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Conclusion
The PMP certification offers numerous benefits to project management professionals. From enhanced career opportunities and increased earning potential to improved project management skills and a global network, the PMP certification can significantly impact your career growth and success. Take the step to pursue the PMP certification and unlock the valuable opportunities that await you in the world of project management.
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