What is the value of PMP certificate in the year 2020?
Value#1 – Knowledge perspective
The PMP syllabus introduces you to all the major concepts of professional project management very quickly. What I took 10 years to understand on the job, my PMP preparation made me learn in 30 days.
The Project Management Body of Knowledge (PMBOK) provides you with a thirty thousand feet view of professional project management. That means, you get introduced to it, and each knowledge area is worth further research and exploration for the serious professional.
Project risk management – Project Management Body of Knowledge (PMBOK), the base reference for PMP certification introduces you to the basic steps of risk management like;
- Risk identification
- Qualitative risk analysis
- Quantitative risk analysis
- Risk response planning
- Contingency planning
It does not address anything specific about the risks associated with EPC projects, R&D projects or I.T projects. It is domain neutral. The impact of emerging developments in Artificial Intelligence and Virtual reality have major impact on risk management, and those aspects are not covered in PMBOK. So it is technology neutral as well. I am just setting the expectations right.
The same is applicable for;
- Resource management
- Procurement management
- Quality management
- Schedule management
- Cost management
- Monitoring and controlling
The concepts in PMBOK, opens up an arena for further study and exploration for the serious professional who has chosen project management as his career.
Value#2 – Career perspective
Thankfully, PMP credential is mandatory for most of project management jobs in reputed organizations. They assume that, a person with a PMP credential have the basic understanding of;
- Integration management – How to integrate the various management components of the project into an integrated whole?
- Scope management – The steps involved in collecting, analyzing, base-lining the project scope.
- Schedule management – How to prepare, use and manage project schedules?
- Cost management – How to estimate, budget, allocate, monitor and control costs?
- Quality management – How to plan, implement, monitor and control quality of the deliverables?
- Resource management – How to plan, get, develop, manage and control resources?
- Communications management – How to plan, manage and monitor project communications?
- Risk management – How to plan, identify, prioritize and mitigate risks?
- Procurement management – How to plan, conduct and control procurements?
- Stakeholder management – How to make the key stakeholders the supporters of your project?
If one is passionate about the topic, than just the certification, after certification they will be able to attend interviews successfully and grow in the project management career rapidly. The foundations of project management do not change. The enablers will. Those with a solid understanding of the fundamental project management concepts stands a better chance to champion the cause of professional project management at their work place and grow faster than the rest.
Value#3 The hygiene factor
The presence of it does not motivate me, where as the absence of it can demotivate me. Sometimes the PMP credential is also like that. I have had the opportunity to train highly experienced and knowledgeable project managers in very large projects in the Middle East and India who were rejected great opportunities in the USA and Australia, because they did not have the PMP credential. For this group of highly experienced and knowledgeable professionals PMP credential is more like a hygiene factor. Having a PMP title may not add much value to them because they know most of the concepts already and at the same time, having no PMP credential works against them. I remember this person who attended my PMP program in Dubai and rushed to USA in search of a job before getting his PMP credential. And he failed to get any good job there, till he completed his PMP 🙂
Last but not the least, I remember the Old soul, who was young at heart, who attended my PMP preparatory program in Qatar. He wanted to learn project management to project manage the new venture he was starting in Qatar.
Value#4 – The negative value
Have seen many PMP credential holders who are a shame to the profession / community, because they still do not know the fundamentals of professional project management like;
- Analyzing the critical path
- Monitoring and controlling using Earned Value Management
They might have dumped the brain dumps and flash cards into their brains. A PMP credential holder not knowing the crux of project management is a sure prescription for failure in either the job interview or on the job.
Get enthusiastic about project management, master it as if it is your professional passion, and get certified. That is the easiest path.
If you have any questions / queries Contact Abrachan Pudussery