Professionals in project management are required. A credential like the PMP is an excellent way to demonstrate your skills, experience, and knowledge in a rapidly changing field. The Project Management Institute (PMI) advances careers through its globally recognised Project Management Professional (PMP) certification. This programme is not associated with any method, standard, or organisation.
It can evaluate candidates' abilities and personal characteristics necessary for success as project managers. According to PMI.org's "Project Management Job Growth and Talent Gap 2017–2027" report, "the future is bright for project professionals," with an expected increase in jobs, competitive salaries, and the opportunity to make a difference. Organizations are looking for project management certification holders.
Additional Info
Introduction
The Project Management Professional (PMP®) certification is widely regarded as one of the most valuable certifications for IT and other professionals. In this course, Introduction to Project Management & the PMP® Exam, you will learn whether earning a PMP® is the right choice for your career development, what prerequisites must be met before taking the certification exam, what to expect from the test, and how to compile and submit your application.
exam objectives and the PMBOK® Guide to the Sixth Edition (PMBOK® Guide).It is possible to obtain continuing education credit for those who pass the PMP® exam by finishing this and other courses in the series.
This is followed by an introduction to key principles of project management that will help you distinguish between project management and the day-to-day managerial requirements in organisations, as well as the topics presented throughout this learning route.
Skills in PMP
1.Leadership Qualities Required for Project Integration and Scope Management Success:
In any industry where multiple cross-functional teams from various geographical locations are working on a single project, the role of a project manager is critical.A good project manager must set the vision for the entire project, get it started in the right direction, control the flow by inspiring the team to achieve their goals, and encourage teamwork.A high-quality project is ensured by clearly defining and documenting the scope of the project, as well as communicating the expected deliverables to all cross-functional teams.
2.Risk Evaluation and Risk Management:
Industries worldwide outsource their needs to ensure efficient project execution and to reduce the need for additional specialised investments. To keep the project on track, it takes a lot of coordination among the various teams that are working together. A project manager must anticipate the risks associated with any unexpected obstacles, such as miscommunication between remote working groups or supply chain management issues, and take appropriate proactive steps to prevent or reverse the damage early on.
3. Managing Time Constraints:
The preparation of a task list with sequential and collaborative activities based on a clearly defined scope aids in better estimating the time required to consolidate the overall project deliverables. A proper time plan will aid in mitigating risks that could derail a project's progress, making better budget-oriented decisions, and avoiding execution bottlenecks. On the market, there are several cloud-based project management software and online tools that can be used to create a detailed activity plan chart with clear milestones for a project. A Project Management Professional certification can help project managers understand this better.
4.Procurement Process Alignment with Internal Processes:
Whether a project is conducted internally or externally, the most challenging challenge is to make certain that procurement is consistent with in-house deliverables and that it maximises overall project performance efficiency and delivery of scope. With suppliers, a PMP makes sure that workflow isn't affected and that logistics and supply chain execution are running well.
5.Cost Management:
Cost estimation will be aided by a clear scope definition with attainable milestones. A project manager determines the budget required for each milestone and ensures that it is consistent with the overall budget of the stakeholders. As the project progresses, it is critical to conduct frequent in-house audits to ensure that the expected scope is delivered without exceeding the cost constraints.
A professional project management certification course will provide the knowledge needed to select the best tool for achieving the desired outcome. Several commercial budget planning spreadsheet tools are available online, and a professional project management certification course will provide the necessary knowledge.
6.Interpersonal and Communication Abilities:
The overall success of the project will be determined by effective communication channels between the various process teams and with stakeholders. Each team's deliverables, budget, and time constraints must be kept up to date. A project manager must also identify any scope deviations or activity lags, as well as resolve any conflicts that may disrupt the project's flow. It is critical to plan one-on-one interactions and team meetings with a clear goal in mind, as well as proper documentation of the conclusion and the use of the appropriate communication channel to convey it to the relevant teams.
7.Quality Control of the Project:
To ensure complete stakeholder satisfaction, the quality guidelines for a project must be established early on. Proper documentation of each project milestone, as well as coordination with stakeholders, will aid in the avoidance of unnecessary lag in the project flow. The ability to write a comprehensive business case study that compiles the lessons learned from previous projects will enhance a project manager's resume when combined with the best project management professional certification.
8.Technical know-how:
Gone are the days of creating a Gantt chart spreadsheet by hand. Project managers all around the world are now utilising cloud-based software and solutions to enhance team communication and collaboration. Text messaging apps have mostly supplanted traditional emails in the post-Covid era, and team meetings are now conducted over Zoom calls.
Before selecting a tool, a project manager must first determine the nature of the issues that need to be addressed.PMPs are responsible for effectively identifying and defining scope, as well as combining and collaborating with diverse project activities and resources, to ensure a successful project completion.
Key Features of PMP
- 35 hours of live virtual training.
- A PMI-Approved Training Partner will deliver this course (PMI - ATP).
- PMI endorsement.
- PMI digital materials can be downloaded.
- Certificate of Successful Completion of the Course.
- PMI-Certified Instructors.
- There is a full money-back guarantee.
- Assistance with the PMP application template.
Career path of PMP
Project management is an exciting field for securing high-paying and top-tier jobs. Pursuing the PMP certification, according to PMI, is a lucrative career path. A project manager is the most common PMP career path for professionals to begin their journey. Project management professionals who have earned the necessary certification can also work as project schedulers, coordinators, and office directors.
Agile project managers and scrum masters are PMI-ACP certified professionals. PMP professionals with the most experience typically manage and direct a large number of programmes. In addition, they develop and manage sound corporate portfolios. Risk management professionals work as regulatory compliance and implementation coordinators, as well as value-based engineering coordinators. Among the industries looking for certified project managers are healthcare, construction and civil engineering, and financial institutions.
Existing PMI credential holders are required to renew their credentials rather than applying from scratch. Project management practitioners' abilities are kept up to speed with the times thanks to the renewal of certification. If you adhere to PMI renewal regulations, your PMP certification career path will be well-lit.
Posts Related To:
- PMP Certification in 2021: How Much Will It Cost?
- PMP Certification Salary in 2021
- Interview Questions for the PMP
- Exam Questions for the Project Management Professional (PMP)
- In 2021, what percentage of people will pass the PMP exam?
- PMP Certification Renewal Guidelines for 2021
- PMP Certification Eligibility in 2021
- A Synopsis of the PMP Exam Format
- PMP Learning Objectives
- Guide to the PMP Certification Process in 2021
- Is the PMP certification still useful in 2021?
- PMP Exam Preparation Course
Roles and Responsibilities of PMP
1. Cost estimation and quality satisfaction:
Any product or service innovation can only succeed if a precise cost estimation is performed using either a bottom-up or a top-down approach. A bottom-up approach can be used by a project manager to divide a project into units and calculate the cost of each unit based on cycle time, resources used, cost per person, and other metrics. This figure is then multiplied by the number of units to calculate the project budget. Top-down estimation is a broader approach that considers major expenditure categories, recurring and non-recurring expenditure, and other variables.
2. Problem Solving & Risk Management:
Any competent project manager understands that a risk is anything that occurs during the course of a project that is "not as planned." This unexpected development could be advantageous or disadvantageous to the project's success. Risk management entails being prepared to deal with it.
Risks will become major issues unless project manager responsibilities emphasise the importance of listing risks as potentials that could become realities. The project will face problems that cannot be adequately addressed unless threats are identified, classified, prioritised, and planned for.
3.Planning of Activities and Resources:
In addition to outlining the work structure, a project manager also provides a summary of the tasks that contribute to project activity. It is the project manager's job to match a project's numerous tasks with the available funding.
When planning is done precisely and the progress of groups of work is closely watched, a savvy project manager can discover resource waste and redeploy it for better use or utilisation. This applies to all resources, including human, physical, technological, and natural. As a result, the project manager's position changes into that of a Tracker at some time in the project.
4.Important considerations include scalability, interoperability, and portability:
To begin, a project manager should determine quickly whether a system or process used to execute a project can be "sufficiently" scaled to meet customer demands.
Second, project managers must be able to determine whether software and hardware components in an organisation can be configured differently to enable different capabilities. It is also critical to determine whether a programme or process can be ported to a different operating system with minimal rework.
5. Reporting and documentation:
With so many people working to make an idea a reality, the only way to maintain order and a sense of single-minded purpose is to ensure that a process for reporting every minute detail is in place. Documentation includes time records, schedules, correspondence, and photos, which, when recorded, provide evidence, summarise efforts, and highlight the project.
One of the project manager's duties is to ensure that all tasks and contributions are documented for future reference both during and after the project's gestation.
6.communication:
It is not sufficient for a project manager to record and document project details; it must be done in such a way that stakeholders and anyone else interested in the project understand every nuance.
Another responsibility of the project manager is to establish an appropriate mode (telephone, fax, encrypted, messenger), multiple channels (emails, memos, reports, press releases), and message structure – five W's, i.e., Why, What, Where, When, Who, and one How – for effective communication.
Industry Trends of PMP
- Larger organisations will accelerate their transition from Waterfall to Agile Project Management as they recognise that the only way to deliver benefits in an increasingly dynamic and complex environment is to learn and adapt quickly.
- Project managers will be more all-arounders, more adaptable, more strategic, and more focused on the project's dependencies. External stakeholders will place greater demands on project managers than ever before, and they will need to be more creative in order to think outside the box in order to meet strategic objectives. Enterprises will become highly projectized as project thinking is integrated into all work processes.
- Focus on Change Management – As the commercial sector shifts toward “agile,” “flexible” working environments, the ability of a Project Manager to understand and effectively communicate change management principles will become almost mandatory. Companies must now provide a "experience" rather than just a place to sit and work in today's competitive commercial business world.
- Hybrid project management will become more common as enterprises adopt Agile Project Management. Scrum Masters will also assume project management responsibilities in many organisations. Effective daily communication and handover between geographically dispersed Agile teams will be critical.
- Artificial intelligence, robotic process automation, machine learning, virtual reality (VR), cloud computing, blockchain technology, and nanotechnology will gain traction in the enterprise. The future of project managers will be dependent on having these key experiences, as they will be in higher demand to manage complex projects in the future.
- The Internet of Things (IoT) will provide critical and complex data for Project Managers and Team Leaders to work with. Emotional intelligence will be a part of their daily activities throughout the project's life cycle.
- Scope management will no longer mean defending the original scope outlined in the business plan, but rather developing innovative solutions through closer collaboration between the design and business teams to find the path of least resistance to change.
- Rather than the traditional tenets of staying within budget and delivering on time, project success will be measured in terms of benefits delivered.
- As we move closer to a paperless office, there is increasing pressure to move tasks to the cloud. This has various advantages, such as real-time connectivity with the project team, "live" instruction, and data collecting.
- Motivation will no longer come from a steady paycheck, but from appreciation, a sense of belonging, and the sense of being appreciated. Millennials will also make up a larger percentage of project teams in all industries.
- SMBs and large MNCs will both invest even more in offering their staff with suitable training and certification courses to help them tackle dynamic and complex projects.
Advantages of PMP
- There are numerous MBA programmes available:There was a time when an MBA was unusual; it was essentially a two-year graduate degree that few people obtained—and there were few institutes or universities that offered an MBA programme.
- As the demand for MBAs grew, many institutes began offering shorter executive MBA programmes, making it much easier for a working professional to obtain an MBA. And everyone who could afford it received a college education.
- The Current Economic Situation The last decade has been a roller coaster ride, forcing businesses to adapt in order to survive. Most organisations have emerged as leaner, meaner entities, while those that did not change have vanished.
- As a result, employers are looking for professionals who fit their company's profile—people with hard-earned expertise who can demonstrate clear leadership in their respective fields. It comes as no surprise that the majority of businesses today seek PMP-certified project managers.
- A PMP certification can assist you in obtaining a rewarding job. A gap analysis commissioned to Anderson Economic Group (AEG) in 2017 revealed that the project management-oriented labour force is expected to grow by 33% in 11 countries and seven project-oriented sectors through 2027, resulting in approximately 22 million new jobs and a need for 88 million professionals, according to PMI.
- Obtaining the PMP certification can add significant value to a resume and carry enough weight to give candidates a competitive advantage when applying for jobs. Because the certification is globally recognised, most employers looking for talent in the field place a high value on it.
- Those who obtain the PMP certification can demonstrate to potential employers that they have a diverse set of skills and can lead a team. When a person obtains and maintains the PMP designation, it shows a commitment to their professional development and demonstrates that they possess the unique blend of hard and soft skills that all excellent project managers must possess, regardless of their position or industry of work.
- A PMP certification can help you advance in your career. Employees can advance to a senior position by formalising their project management skills and requiring experts to stay current on industry trends through continuing certification requirements (CCR).
Payscale of PMP
1.If you are an aspiring project manager, you are probably aware that there is never a shortage of project managers available in the labour market.
2.The Project Management Professional (PMP) certification is one of the most effective ways to demonstrate your project management expertise while also attracting higher pay scales.
3.Regardless of project size or complexity, a PMP certified project manager is trusted to demonstrate superior project management skills and techniques.
4.A PMP certification can also help you get a better job.
5.The average salary for certification holders is 107,520lakh, according to PayScale.
6.According to Global Knowledge's 2020 IT Skills and Salary Report, the PMP certification is one of the highest-paying in North America, with certification holders earning an average salary of 136,236 lakh.
7.It is also the highest-paying certification in Latin America, one of the top three in Asia-Pacific, and one of the top six worldwide, with a reported salary of 110,646lakh.