Project management professionals are required. A credential such as the PMP is a valuable option for demonstrating skills, experience, and knowledge in a rapidly changing field.Through its globally recognised Project Management Professional (PMP) certification, the Project Management Institute (PMI) advances careers. This programme is not affiliated with any specific method, standard, or organisation.
It can assess candidates' abilities and personal characteristics required to succeed as project managers.“The future is bright for project professionals,” PMI.org acknowledges in its “Project Management Job Growth and Talent Gap report, “with an expected increase in jobs, competitive salaries, and the opportunity to make a difference.” Organizations are looking for people who have project management certifications.
Additional Info
Introduction
The Project Management Professional (PMP®) certification is widely regarded as one of the most valuable certifications for professionals in IT and a variety of other fields. 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 in order to take the certification exam, what to expect from the test, and how to compile and submit your application.
Following that, you will be introduced to fundamental project management principles that will help you better understand what distinguishes project management from day-to-day managerial needs in organisations, as well as the content that will be covered throughout this learning path.
This course, as well as the others in this learning path, are completely aligned with the most recent version of the PMP® exam objectives and the 6th Edition of the Project Management Body of Knowledge (PMBOK® Guide).Completing this and other courses in the series will help you fulfil the mandatory training requirement for the PMP® exam, and it can also be used to earn continuing education credit for those who have already earned their certification.
Skills in PMP
1.Leadership Qualities Required for Successful Project Integration and Scope Management:
The role of a project manager is critical in any industry where multiple cross-functional teams from various geographical locations are working on a single project.A good project manager must set the vision for the entire project, initiate it in the right direction, control its flow by inspiring the team to achieve their goals, and encourage teamwork.A quality project is ensured by clearly defining and documenting the scope, as well as communicating the expected deliverables to all cross-functional teams.
2.Risk Assessment and Risk Management:
Industries all over the world outsource their needs to ensure efficient project execution and to reduce the need for additional specialised investments. It takes a lot of coordination among the various teams working together to keep the project on track. A project manager must anticipate the risks associated with any unforeseen obstacles, such as miscommunication between remote working groups or supply chain management issues, and take appropriate proactive steps to prevent or reverse the damage in the early stages.
3.Managing Time Restriction:
Preparing 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 assist in mitigating risks that can derail a project's path, making better budget-oriented decisions, and avoiding execution bottlenecks.There are several cloud-based project management software and online tools on the market that can be used to create a detailed activity plan chart for a project with clear milestones. A Project Management Professional certification can help project managers gain more clarity on this.
4.Aligning Procurement Processes with Internal Processes:
The most difficult challenge in an in-house or outsourced project is ensuring that there are no discrepancies in procurement and that they are aligned with the in-house deliverables to maximise overall project performance efficiency and scope delivery. A PMP coordinates with suppliers and evaluates legal contract clauses to ensure that workflow is not disrupted and that logistics and supply chain execution runs smoothly.An online PMP course taken from the comfort of one's own home can assist in understanding the nuances of the fine coordination skills required for efficient procurement execution, thereby avoiding any unexpected wait time that may exceed the project's overall time constraint.
5.Cost Control:
A clear scope definition with attainable milestones will aid in cost estimation. A project manager determines the budget needed for each milestone and ensures that it is consistent with the stakeholder's overall budget. As the project proceeds, it's crucial to perform frequent in-house audits to deliver the expected scope without overshooting the cost constraints.
A professional project management certification course will provide the insights required to choose the right tool for achieving the specific desired outcome. Several commercial tools for budget planning spreadsheets are available online, and a professional project management certification course will provide the insights required to choose the right tool for achieving the specific desired outcome.
6.Interpersonal and Communication Skills:
Proper communication channels between the various process teams and with stakeholders will determine the overall success of the project. Each team must be kept up to date on its deliverables, budget, and time constraints. A project manager is also in charge of identifying any scope deviations or activity lags, as well as resolving conflicts that may disrupt the project's flow. It is critical to organise one-on-one interactions and team meetings with a clearly defined goal, as well as proper documentation of the conclusion and use of the appropriate communication channel to convey it to the relevant teams.
7.Project Quality Control:
To ensure complete stakeholder satisfaction, the guidelines that define a project's quality must be established early on. Proper documentation of each project milestone, as well as coordination with stakeholders, will help to avoid unnecessary lag in the project flow.When combined with the best project management professional certification, the ability to write a comprehensive business case study that compiles the lessons learned from previous projects will enhance a project manager's resume.
8.Technological Know-How:
The days of manually preparing a Gantt chart spreadsheet are long gone. Project managers all over the world are now using cloud-based software and tools to improve team communication and collaboration. In a post-Covid world, text messaging apps have largely replaced traditional emails, and team meetings have taken the form of Zoom calls.
A project manager must first determine the nature of the problems to be solved in order to identify the tool that can best deliver it.Thus, the role of a PMP is to properly identify and define scope, as well as to combine and collaborate the various activities and resources to ensure a smooth project execution.
Key Features of PMP
- Live virtual training for 35 hours.
- Delivered by a PMI-Approved Training Partner (PMI - ATP).
- PMI recommendation.
- PMI digital materials are available for download.
- Certificate of Completion of the Course.
- Authorized PMI Instructors.
- Money back guarantee of 100%.
- Application help with the PMP application template.
Career path of PMP
In terms of securing high-paying and top-tier jobs, project management is an exciting field. According to PMI, pursuing the PMP certification is a lucrative career path.The most common PMP career path for professionals to begin their journey is that of a project manager.Project management professionals with the appropriate certification can also work as project schedulers, coordinators, and office directors.
PMI-ACP certified professionals work as agile project managers or scrum masters.The most experienced PMP professionals typically manage and direct a large number of programmes. They also create and manage sound corporate portfolios.Risk management practitioners pursue roles in regulatory compliance and implementation, as well as value-based engineering coordinators.Healthcare, construction and civil engineering, and financial institutions are among the industries looking for certified project managers.
Instead of going through the entire application process again, PMI credential holders must renew their certifications. The renewal of certification ensures that project management practitioners' skills are kept up to date with the needs of the times. Maintaining compliance with PMI renewal regulations will ensure that your PMP certification career path shines through.
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Roles and Responsibilities of PMP
1. Cost Estimation and Satisfaction with Quality:
Any product or service innovation can only be pursued successfully if a precise cost estimation is performed using either a bottom-up or a top-down approach. A project manager can use the bottom-up approach 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 is then multiplied by the number of units to arrive at a project budget. Top-down estimation is a more general approach that takes into account major expenditure heads, recurring and non-recurring expenditure, and other parameters.
2. Risk Management & Problem Solving:
Any project manager worth his salt understands that a risk is anything that happens during the course of a project that is "not as planned." This unexpected development could be beneficial or detrimental to the project's success. Managing risk entails being prepared to deal with it.
Unless project manager responsibilities emphasise the importance of listing risks as potentials that could become realities, they will become major issues. If threats are not identified, classified, prioritised, and planned for, the project will face problems that cannot be adequately addressed.
3. Planning of Activities and Resources:
A project manager not only outlines the structure of work, but also provides a breakdown of tasks that contribute to project activity. It is the project manager's responsibility to map the various activities of a project to the available resources.
A smart project manager can identify wastage of resources and redeploy them for better purpose or utilisation when planning is done meticulously and the progress of groups of tasks is closely monitored. This holds true for human, physical, technological, and natural resources. As a result, at some point during the project, the project manager's role transforms into that of a Tracker.
4.Scalability, interoperability, and portability are all important considerations:
To begin, a project manager should be quick to determine whether a system or process being 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 can be configured differently to enable different capabilities in an organisation. It is also critical to determine whether a programme or process can be ported to another operating system without significant rework.
5. Documentation and reporting:
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 there is a process in place to report every minute detail. Documentation includes time records, schedules, correspondence, and photos, all of which, when recorded, provide evidence, summarise efforts, and showcase the project.
One of the project manager's responsibilities 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 enough for a project manager to record and document project details; it must be done so that stakeholders and anyone else interested in the project understand every nuance.
Another of the project manager's responsibilities is to put in place a proper 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
- An accelerated shift from Waterfall to Agile Project Management will occur in larger organisations 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, flexible, strategic, and focused on the project's dependencies. External stakeholders will put more pressure 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.With the integration of project thinking into all work processes, enterprises will become highly projectized.
- 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 the principles of change management will become almost mandatory. In today's competitive commercial business world, companies must now provide a "experience" rather than just a place to sit and work.
- With the enterprise-wide adoption of Agile Project Management, hybrid project management will become more prevalent. Scrum Masters will also take over project management roles in many organisations.Effective daily communication and handover between cross-geographic Agile teams will be critical.
- Newer technologies such as artificial intelligence, robotic process automation, machine learning, virtual reality (VR), cloud computing, blockchain technology, and nanotechnology will become more popular in enterprises. Project Managers' future will be dependent on having these key experiences, as they will be in higher demand to handle complex projects in the future.
- The Internet of Things (IoT) will provide Project Managers and Team Leaders with critical and complex data to work with. Throughout the project's life cycle, emotional intelligence will be a part of their daily activities.
- A growing push is being made to migrate projects to cloud-based technologies as we progress toward a paperless office. There are numerous advantages to doing this, including real-time connectivity with the project team, "live" instruction, and data collection.
- Motivation will no longer be derived from a stable source of income, but rather from appreciation, a sense of belonging, and the feeling of being appreciated. Additionally, millennials will make up a higher share of project teams across industries.
- Both SMBs and large MNCs will invest even more in providing relevant training and certification courses to their employees in order to handle dynamic and challenging projects.
- Scope management will no longer imply defending the original scope outlined in the business plan, but rather developing innovative solutions through closer collaboration between the design and business teams in order 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 judged through the lens of delivering benefits.
Advantages of PMP
- There are a plethora of MBA programmes available:There was a time when an MBA was uncommon; it was essentially a two-year, graduate degree that few people obtained—and there were few institutes or universities that offered an MBA programme.
- However, as the demand for MBAs increased, 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 a college education received one.
- The Economic SituationThe last decade has been a roller coaster ride, and businesses have been forced to adapt in order to survive. Most organisations have emerged as leaner, meaner organisations, while those that did not make the change have vanished.
- As a result, employers are looking for professionals who fit the profile of their company—people with hard-earned expertise who can demonstrate clear leadership in their chosen fields. It's no surprise that most businesses today seek PMP-certified project managers.
- A PMP certification can help you land a rewarding job. According to PMI, 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.
- Obtaining the PMP certification can add significant value to a resume and carry enough weight to give candidates an advantage over non-certified candidates when applying for jobs. Because the certification is globally recognised, it is highly valued by most employers looking for talent in the field.
- Those who obtain the PMP certification can demonstrate to potential employers that they have a wide range of skills and are capable of leading a team. When someone earns and keeps the PMP designation, it signifies a dedication to their career development and demonstrates that they have that special blend of hard and soft skills that all excellent project managers must have, regardless of their position or industry of work.
- Having a PMP certification can help you advance in your job. Employees can work their way up to a senior position by formalising their project management skills and requiring experts to stay up to date on the latest industry trends via 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 in the labour market.
2.The Project Management Professional (PMP) certification is one of the most effective ways to demonstrate your expertise in project management and, of course, to attract higher pay scales.
3.A PMP certified project manager is trusted to demonstrate top-notch project management skills and techniques, regardless of project size or complexity.
4.A PMP certification can also help you earn more money.
5.According to PayScale, the average salary for certification holders is 107,520lakh.
6.According to Global Knowledge's 2020 IT Skills and Salary Report, the PMP certification is one of the highest-paying certifications in North America, with certification holders earning an average salary of 136,236lakh.
7.With a reported salary of 110,646lakh, 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.