Quick solutions related to PMP certification

Download ebook

“Project management can be defined as a way of developing structure in a complex project, where the independent variables of time, cost, resources and human behavior come together.” – Rory Burk 

What does PMP certification mean?

PROJECT MANAGEMENT PROFESSIONAL (PMP) CERTIFICATION is a cosmopolitan course designed for project managers. PMP bestows practical exhibition an explanation to lead and direct the project. PMP solicit after certification administered by the PROJECT MANAGEMENT INSTITUTE (PMI). The assignments are based on PMI PROJECT MANAGEMENT BODY OF KNOWLEDGE.

PMP helps you reminisce what you deserve and connects you with people, worldwide to acquire special skills and experiences. According to the survey reports of 31 July 2020, there are some 1,036,367 active PMP certified individuals and 314 chartered chapters across 214 countries and territories worldwide.

Enroll in our PMP Certification today and develop a strong foundation in the principles of project management.

Why should one complete PMP certification?

The biggest attraction of PMP certification contributes to a higher source of income. It leads to better opportunities and advancement. It gives you tools and techniques for better management of projects and their successful complete

For many years getting a college degree was momentous but with time, specializing in a particular stream is booming. Nowadays, companies are demanding certified professionals who are highly skilled and above-average. Not only this, a recent PMI survey shows, the median salary for a certified project manager is $1,08,200. The non-certified project managers, on the other hand, showed a median income of $91,000.

Believe it or not, project management-based jobs are high in demand. To kick-off your projects, you need a basic understanding of onboarding experts who can analyze, evaluate, and monitor the progress of the work.

Either you’re skill-efficient or a professional math-skill trainee, you’ll find every other qualified person applying for these jobs. Most of the time it becomes time-consuming for the company to interview and access the potential of all applicants. This is where PMP certification proves expedient as it helps the company to shortlist candidates. But why are people more inclined towards this course? Let’s dive into the pool of benefits.

The benefits of PMP certification:

• Worldwide acknowledgment :

Almost every reputed firm acquire PMP credentials for better performance and growth of their organization. A study reveals that employers will need to fill nearly 2.2 million new project-oriented roles each year through 2027. 

• Better placement and opportunities :

Who doesn’t look forward to an open door of opportunities? Yes, PMP certification is evidence of your professional skills, ability, and knowledge. With PMP credentials, you can pursue your career in project management fields with ease.

• Higher salary : 

It helps you grab a chance of getting elevation within your organization with a high-end salary. Surveys prove that a certified manager earns 20% more than a non-certified employee, which shows you can have an early raise as an individual. 

• Build networks : 

Project management jobs give you a chance to alliance and help you build a network with other project management professionals around the world. Learning is valuable, either earned from a candidate or those who are gaining PMP credentials.

NOTE: The logic behind doing PMP CERTIFICATION is to expertise.

Is PMP certification worth the money?

Okay, so this is where your search ends. The very question that arises in mind, “Is this course worthwhile?” 

While exploring project management jobs, you’ll come across many probes that justify that there is a good amount of scope in project management and people are happy with their current career growth.

Believe it or not, PMP CERTIFICATION  is a one-stop solution where you can validate your skills and experience in project management. If you haven’t heard of this, the PMP CERTIFICATIONS holds par excellence in technical and soft skills.

The exams conducted by the PMP CERTIFICATION are based on performance which includes initiation, planning, executing, monitoring, and closing of projects.

Once cleared, it keeps you up to date with the ongoing trends of project management. However if you are assigned with any project you should take charge by leading a team, scheduling, preparing projects, status reports, coordinating with clients, and preparing tracking schedules.

PMP eligibility criteria :

3 eligibility requirements have to be fulfilled for PMP certification for educational experience and training. Let’s walk through these criteria.

Eligibility criteria 1

The candidate must be a degree holder or diploma holder and must have the ability to lead a team prepare and plan reports. He/She should have valuable command over new concepts.

Eligibility criteria 2

• The project manager job is a reliable position and one should be responsible enough for the action. The degree holder candidate must have 3 years or 4500 hours of experience in heading and directing the project. 
• The diploma holder candidate must have 5 years or 7500 hours of experience in heading and directing the project.

Moreover to apply for the PMP certification course one should have brief knowledge in all domains of projects i.e initiation, planning, execution, monitoring, and closing.

Note: If you are not well versed in any following criteria the candidate will not be allowed to apply for the project management certification (PMP).

Eligibility criteria 3

The candidate must have attended 36 hours of a training program of formal project management training from the REGISTERED EDUCATION PROVIDER (REP) or NON REGISTERED EDUCATION PROVIDER. 

PMP course details :

The sessions can be projected online or offline as per the course applied.

PMP exams consist of many multiple-choice questions (MCQ) about 200 questions which are tough to solve. The results are announced based on merits. Generally, the project management course is sketched to understand your potential.

To clear the exams with flying colors one must go through intense learning from PROJECT MANAGEMENT BODY OF KNOWLEDGE (PMBOK) and RITA MULCAHY, the recommended expert’s guide.

PMP pricing plans

Pricing plans may vary as per the courses offered by the institutes, globally. However, the price of this course is approx 275 USD. Here are some membership plans.

PMP Certification Exam and Re-Examination Fee

The PMP certification exam fees for members and non-members of PMI are as follows (given in USD):

PMP certification with PMI Membership	$405
PMP certification without PMI Membership	$555
PMI membership fee	$139 ($129 + $10 one-time application fee)
Re-examination fee for PMI members	$275
Re-examination fee for non-PMI members	$375

Not only this, but Henry Harvin institute also aims at providing the complete offerings of PMP® Certification Training Course and PMP certified online course.

Below is one prospective step-wise approach for PMP preparation:

Understand the criteria	Make plans with target
Refer notes and guide	Prepare for mock test

 ROI of PMP certification

ROI (RETURN ON INVESTMENT ) is a financial metric that measures the profit or loss gained by the investment. It is generally calculated in the form of a percentage which helps in making decisions. 

The ROI can only be obtained with the profit incurred by the investors. It is calculated by subtracting the initial value of the investment from the final value of the investment (which equals the net return), Now, divide this new number (the net return) by the cost of the investment, and then finally, multiply it by 100.

The formula of ROI – (NET PROFIT /INVESTMENT COST )*100

ROI formula:

           (Return- Cost of Investment)

ROI = —————————————- X 100

               Cost of Investment 

Return : The aggregated amount of product area which is being developed to produce maximum returns.

PMBOK (Project Management Body of Knowledge) declares that projects undertaken estimate the financial execution of the projects which are performed outside the projects, while for other investment opportunities in projects related to management, ROI calculations enhance the proposition of cost management knowledge, hence ROI tools play an important role.

The process of calculating ROI includes :

The initial capital outlay includes upfront cost, expenses, course fees, equipment, and labor costs. It helps to pursue the source of capital drawn for investment.

Project management organizations track their own sensed rate of return on cash and other investments using a forecasting investment spreadsheet. 

The minimum return requirement is the minimum amount that the investor is expecting to receive for their investment. The rate of return plays a vital role in the corporate finance organization, especially for the valuation of equity.

There is a huge scope in the PMP certification project management course, one should rest assured while investing, the ROI is exceptionally higher. However, to gain benefits one must need to invest both time and money.

Project Management Scope after PMP certification

Scope in any field relies upon your capability. Project management course access knowledge that you obtain.

After completing project management i.e. PMP certification, there is a wide scope in making money on traveling and more pliable schedules. It is a professional aim for the candidate to reach higher goals.

If working for an educational or consulting firm’s PMP credential helps you grab the opportunity in making business and helps you in getting name and fame for the company. There is a wide scope for project managers who have wide knowledge about law as it adds feathers for the legal industry. It helps the project manager to get hold of the legal terms so that the work process is carried out properly.

This is not the end. The candidate might expect a hike in salary at least by 20%. The scope of pursuing PMP certifications helps you to stand high in the crowd of project management professionals in the market. Besides this, the PMP certification credential in your resume or biodata helps you get the job easily as a project manager, and change the profile in the long run which could turn out as a stepping stone. It has been observed that PMP certification holders earn 25% more than their non-certified peers.

CONCLUSION

To build an image in the company or organization one has to be very smart and must have strong practical knowledge. However, this is important to understand that doing PMP certification will lead to vast opportunities. 

PMP certification holders leverage an accomplishment that makes them valuable during recessions. The squint of joining the PMPcertification club enhances your skills and keeps you up to date. To qualify for PMP certification exams one must need dedication, motivation, interest. 

So if you’re looking for reference textbooks for the preparations, PMBOK and RITA MULCAHY might be useful for you. 

Also, if you know something more about PMP certification, you can share your insights and thoughts in the comment section.

Recommended Reads:

• Top 9 Project Management Courses in Kolkata
• PMP certification exam cost
• TOP 20 PMP Exam Questions and Answers
• Is PMP Certification Worth It in India?
• 10 Best PMP CERTIFICATIONS IN SINGAPORE

Also Check this Video

FAQ’S

Q1) What is PMP Certification?

Ans : Project Management Professional(PMP®) credential is the most important industry-recognized certification for project managers. Globally recognized and demanded, PMP® demonstrates that you have the experience, education, and competency to lead and direct projects. There are more than 6,54,000 PMP® credential holders and 272 chartered chapters across more than 100 countries worldwide.

Q2) What is the duration for PMP Certification training?

Ans : The PMI® body expects you to have 35 hours of project management training before you take up the certification exam. Henry Harvin has flexible batches to suit everyone’s needs. Their weekend program goes on for months and the accelerated, weekday programs can be completed much faster.

Q3) Who Should Do PMP Certification?

Ans : PMP® certification is very useful for project managers who are looking to move up in their careers. If you have experience managing product development or projects in an organization, then this certificate can help you climb up the career ladder.

Download ebook