If you work in the field of project management, you have certainly heard of the project management Institute. The project management Institute is a world-renowned organization that is highly respected by PMs everywhere. Many project management professionals have received certifications from the PMI, particularly the PMP. In this article, we will give you an overview of what the PMI is and how you can use its services to better your career.
How It All Started
The PMI is a nonprofit organization that was founded back in 1969. It was created so that fellow project managers in the field can share their findings and mutually benefit from one another. The organization is located in Pennsylvania and has earned itself a highly respected reputation.
What Does PMI Stand For?
The mission of the Project Management Institute is to symbolize professionalism, positive impact, and volunteerism. The project management Institute values bringing people together to build a sense of community.
What Is The Purpose of The PMI?
The PMI offers a community for fellow project managers to come together and share experiences. Not only that, but the PMI also allows project managers to earn certifications to advance their careers. For example, the most common certification they distribute is called the PMP.
let’s take a look at some of the other resources offered by the PMI:
The PMI offers resources for not only project managers, but also program and portfolio managers, too. The style of learning is by doing. You can pick up new skills through online courses, community forums, and professional development workshops. There are also research options for project managers with specific interests. The PMI also collaborates with governmental business assets to ensure their training meets all standards and benchmarks.
Certifications You Can Earn
The PMI also offers certifications for those who wish to advance their careers. Each certification class requires you to gain real-world knowledge and experience. Therefore, you will be able to better handle challenges while on the job after completion. There are a few different certifications offered by the PMI, which we will explore next.
PMP, The Most Common Certification
If you have colleagues or friends in the field, you have likely noticed that some of them have a PMP included at the end of their name. This signifies that they have completed the PMP exam offered by the project management Institute. Therefore, they are deemed proficient in the fields and are able to successfully complete projects and a variety of industries. If you also want to achieve the PMP gold standard, there are a few ways you can qualify:
- Earn a four-year bachelor’s degree;
- Complete 4,500 hours of real-world experience in the field of project management; and
- Earn 35 hours of project management education.
If you meet the above criteria, you are then eligible to sit for the PMP exam. During the exam, you’ll have four hours to complete multiple-choice questions covering core competencies in project management.
Not only will the PMP certification earn you more respect in the field, but this may reflect on your paycheck as well! Project managers who are in their PMP have seen as much as a 20% increase in salary.
Remember, the PMI will require you to refresh your PMP certification every three years. This way, you will always be kept up to date on industry standards.
Program Management
If you are an experienced project manager with many years in the field, you may want to explore the possibility of earning your program management professional certification. The requirements are a bit more rigorous for this certification when compared to those of the PMP. However, if you are far enough along in your career, this should not be a problem. you will need to have a bachelor’s degree as well as 6000 hours of experience in the field.
Portfolio Management
If your interests lie in the world of portfolio management, there is the portfolio management professional certification! If you focus on overall strategy implementation for your company, this is a great option for you. You must have a bachelor’s degree along with experience of up to 6000 hours in the field of portfolio management.
More to Explore:
If none of these certifications have piqued your interest so far, don’t worry! There are a few other certifications you can explore.
For example, there is the CAPM exam. This stands for Certified Associate in Project Management. This is a great feather in your cap – especially if you are a newbie in the field.
If you’re interested in business analysis, there is the PMI – PBA – PMI Professional in Business Analysis that you can earn. This is a great certification for people passionate about analytics who enjoy quantitative challenges.
For those interested in agile project management, the PMI Agile Certified Practitioner certification is also available. This is a more focused certification, which will allow those in the field to hone in on their craft and master a certain specialization.
Standards Provided By The Project Management Institute
The Project Management Institute helps students embody what it means to be a leader. The PMI provides standards to help professionals manage tools, processes, strategies, and techniques in order to be successful. The table below shows standards, guides, approaches, and other recommendations made by the Project Management Institute:
|
Foundational Standards |
Practice Standards & Framework |
Practice Guides |
|
PMBOK Guide |
Project Risk Management Practice Standard |
Requirements Management |
|
Standard for Program Management |
Practice Standard for Earned Value Management |
Governance of Portfolios, Programs, and Projects |
|
Standard for Portfolio Management |
Project Configuration Management |
Business Analysis Practice Guide |
|
Organizational Project Management Maturity Model OPM3 |
Work Breakdown Structure Practice Standard |
Implementing Organizational Project Management, A Practice Guide |
|
Practice Standard for Scheduling |
Navigating Complexity, A Practice Guide |
|
|
Practice Standard for Project Estimating |
Managing Change Practice Guide |
|
|
Project Manager Competency Development |
What Other Resources Can I Take Advantage Of?
Membership Programs:
There is an abundance of membership programs available for those who want to fully immerse themselves in the world of Project Management. Membership programs will allow you to take advantage of webinars, case studies, research, and more!
Volunteer Opportunities:
Volunteering is a critical part of giving back when it comes to serving as a project manager. The PMI helps to facilitate these opportunities both online and in-person for those interested in earning PDUs or just simply donating their time. PDUs help you to work towards your PMP renewal, which is a requirement every three years!
Chapters:
As a member of the Project Management Institute, you will have access to chapters, which give you the operantly to immerse yourself in the project management community. Chapters work together on volunteering, meeting setup, and participating in networking events. You will also get to take advantage of templates, tools, and research to help further your learning.
The PMI is an extremely well-respected organization that can help you achieve your full project management potential. For more information, check out the rest of our blog! You won’t want to miss out on the offerings available to you through the Project Management Institute.
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