Ever wondered: What is the use of PMP certification? It’s no secret that there are countless benefits that come with earning your PMP certification. In this article, we will discuss the perks that come with earning your PMP while also covering what you need to know in order to become a PMP. First and foremost, we will explore what the PMP is, the content included in the exam, and how to best prepare for this assessment.
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!
The PMP requires extensive investments and sacrifices. However, you will earn benefits that are well worth it such as:
- Career growth opportunities and requirements outlined by competitive companies.
- 20% boost in salary once you have secured the PMP
- Industry benefits in terms of PMP salary. Be sure to refer to location, experience, and more
- Recognition by your peers and colleagues
- Raise your chances of completing successful projects for clients
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
Next time you wonder, “What is the use of PMP certification?” you’ll have your answer. The benefits that come with earning your PMP greatly outweigh the costs and sacrifices needed to get this certification. We hope this guide helped you better understand the perks associated with this exam. Best of luck!