PMP certification benefits both individuals and organizations. Increase in salary figures is not the only benefit this certification offers. However, it also helps in the overall professional growth of an individual. PMP certification provides benefits to organizations also as it establishes a link between strategy and its execution. Moreover, organizations that employ certified project managers are more likely to achieve their strategic goals on time and within budget. Succeeding paragraphs describe pmp certification benefits to both individuals as well as employers.
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What is PMP certification?
Project Management Professional (PMP) certification is the most sought after professional credential. PMP is an abbreviation for Project Management Professional. Project Management Institute (PMI) based at Pennsylvania, USA offers this professional certification. PMI is a not-for-profit professional membership association for the project, program and portfolio profession. According to the May 2017 edition of PMI Today, PMI has 286 chapters, in 208 countries and has 484,524 members. (PMP)® as well as Project Management Professional (PMP)® are registered trademarks of PMI.
Who Should Obtain PMP Certification?
Any professional engaged in leading and directing projects can acquire PMP certification. Moreover, this certification is independent of industry, geographic location and the size of the project. Once achieved the certification is valid for 3 years.
PMP Certification Benefits to Individuals
Succeeding paragraphs enumerates PMP certification benefits to project manager.
Stand Out From The Masses
A project manager with PMP certification has a thorough understanding of the subject as compared to his counterpart without a PMP certification. Thus, a certified project manager gets noticed in the organization and easily stands out from the masses.
PMP is a truly global certification. It, therefore, empowers a project manager to work in any industry, in any location and with any methodology.
Commitment towards excellence
Possession of PMP certification demonstrates not only an individual's commitment to the profession but also his ability to implement his knowledge and experience in achieving project goals.
Achieve Project Success
With a profound understanding of the subject certified project managers can build effective teams, engage their stakeholders, proactively handle project risks, and ensure profitability. Certified project managers have a competitive advantage over their peers.
Entitled to Use (PMP)
Acquiring Project Management Professional credential entitles an individual to mention PMP after the name.
Boost in Salary Figures
On average, a PMP certified project manager earns 20% more salary than his counterparts who are not certified. The ninth edition of PMI salary survey clearly shows the difference between salaries drawn by the two professionals. India specific data indicates that the average salary of a PMP certified professional is INR 18,25,370. Whereas project manager without PMP certification earns INR 13,22,054. The maximum salary of professionals with 20 years of experience as reported is INR 35,00,000.
PMP Certification Benefits to Organizations
Succeeding paragraphs enumerates PMP certification benefits to organizations.
Link Strategy and Execution
The changing landscape of the global economy and the competition has forced organizations to deliver projects within budget and on schedule. Most of the organizations are aligning their projects to their strategy. A certified project management professional better understands the value of project management. He further acts as a link between the organization's strategy and the execution.
Project Management Culture
Pulse of the profession indicates that high performing organizations understand the value of project management. These organizations have actively engaged sponsors and matured project/program management process. Hence these organization create a project management culture where organization can have on an average seventy per cent of successful projects. Moreover, high performing organizations are able to foster a project management mindset in their culture which assists in sustaining competitive advantage.
Achieve Strategic Goals
Pulse of the profession also specifies that organizations that employ more than one-third of PMP certified project managers are two-and-half times more likely to achieve project goals. Therefore, these organizations are also likely to spend 13 times less as compared to their peers. Thus such organization have better benefit realization.
Standardized Project Management Processes
Furthermore, organizations that have well trained and professional workforce can better implement the benchmark project management process. Moreover, there is a direct correlation between having matured project management process and project success. PMI in its 2014 edition pulse of the profession states that organizations that have mature project management practices have 70% chance of realizing the benefits as against 44% for those organizations that do not have project management processes.
For more on PMP Certification please read the following posts
- PDU Guidelines PMP Certification Renewal
- PMP Exam 2021 Six Updates You Must Know
- Project Management Formulas
PMP Certification Benefits Summary
To summarize, PMP certification certainly adds value to an individual's professional credentials. The question should not be whether to take the certification or not but when to enrol for the process. The earlier one achieves this feat the better it is for both the individual as well as the organization.