Around 22 million project management job openings through 2027 – forecasts Project Management Institute (PMI®)
From the private to public sectors and anything in between – the demand for Project Management Professionals has increased exponentially everywhere and PMI sees a brighter future ahead.
What is PMI
For those not versed, PMI (Project Management Institute) is the leading internationally recognized non-profit professional organization that confers professionals qualifying its project management courses with the PMP designation. PMI aligns its process with certification industry’s best practices, such as those adopted in the Standards for Educational and Psychological Testing.
How Much Difference a PMP Certification Makes to Your Career
Certified Project Management Professional or PMP holders earn 25 percent higher than their counterparts without this certification, claims the PMI’s most recent Project Management Salary Survey in the US.
In 2019, PMI conducted a survey of almost 9,000 project managers. Here are the key findings
The average project management professional without a PMP certification made $100,247 per year.
With a PMP certification, the average project manager salary goes up to $123,314.
PMP Exam Course or Syllabus
To successfully qualify the PMP Exam, you have to understand the Project Management Body of Knowledge (PMBOK). What is PMBOK? It’s a set of standard terminology and guidelines (a body of knowledge) for project management. A PMP examination (bracket has the percentage of questions asked in the paper) is an evaluation of skills or knowledge required in the following areas:
- Initiating the project (13%)
Processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
- Planning the project (24%)
Those processes required to establish the scope of the project, refine the objectives, and define the course of action required to attain the objectives that the project was undertaken to achieve.
- Executing the project (31%)
Those processes performed to complete the work defined in the project management plan to satisfy the project specifications
- Monitoring and controlling the project (25%)
Those processes required to track, review, and regulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes.
- Closing the project (7%)
Those processes performed to finalize all activities across all Process Groups to formally close the project or phase
July 2020 PMP Exam Update
For July 2020 PMP Exam, PMI has emphasized on three all new performance domains:
- People (42%)
- Process (50%)
- Business Environment (8%)
PMI has its Job Task Analysis wing that keeps validating the requirements and challenges amidst the today’s project management practitioners across different sectors and working environments. PMP certification is a reflective of the real-world development. The new examination pattern will represent predictive project management approaches and agile or hybrid approaches in equal measures.
The first domain, i.e. People, is to develop skills to make use of the most important asset of an organization, i.e. People or work-force. It covers specializations as follows:
- Manage conflict
- Lead a team
- Support team performance
- Empower team members and stakeholders
- Ensure team members/stakeholders are adequately trained
- Build a team, Address and remove impediments, obstacles, and blockers for the team
- Negotiate project agreements
- Collaborate with stakeholders
- Build shared understanding
- Define team ground rules
- Mentor relevant stakeholders
- Mentor relevant stakeholders
The second domain, i.e. Process, is to help developing skills required to manage business process efficiently. Here is a list of skills that PMI wants professionals to learn.
- Execute project with the urgency required to deliver business value
- Manage communications
- Assess and manage risks
- Engage stakeholders
- Plan and manage budget and resources
- Plan and manage schedule
- Plan and manage quality of products/deliverables
- Plan and manage scope
- Integrate project planning activities
- Manage project changes
- Plan and manage procurement
- Manage project artifacts
- Determine appropriate project methodology/methods and practices
- Establish project governance structure
- Manage project issues
- Ensure knowledge transfer for project continuity
- Plan and manage project/phase closure or transitions
The third domain, i.e. Business Environment, is to help developing skills required to build a conducive environment. Here is what you are expected to learn.
- Plan and manage project compliance
- Evaluate and deliver project benefits and value
- Evaluate and address external business environment changes for impact on scope
- Support organizational change
PMP Exam Preparation or Training @ SpireTec Solutions
SpireTec Solutions makes it easy for you to embrace all related skills, strengths, and expertise. Our endeavour is help you perform at your best not just in the PMP exam but also in your lifelong journey wherever you are.
We keep a close watch on the PMP Examination Content Outline released by PMI from time to time, and review and revise our PMP course materials to keep them latest and up-to-date. We have categorized PMP Training Certification Course in 15 easy-to-digest modules focusing on the following key knowledge areas:
- Project Integration Management
- Project Scope Management
- Project Schedule Management
- Project Cost Management
- Project Quality Management
- Project Resource Management
- Project Communications Management
- Project Risk Management
- Project Procurement Management
- Project Stakeholder Management
PMP certification is a recognition of your ability and competence to manage simple to complex projects from end to end worldwide. It gives you an edge over the competition and accelerates your career growth. Almost 1,000,000 PMP certification holders are a living testimony of the same. Are you ready to join the success wagon?