Project Management is defined as the practice of planning, controlling, initiating, executing and setting achievable goals for a team of experts.
The global economy is becoming more project-oriented as the concept of project management is expanding to industries that use to be less project-oriented. Project management exists within multiple different industries, including Healthcare, Design, Construction, Information Technology, Engineering, Architecture and Human Resources… Within those industries, the complexity of the project will vary therefore individuals are encouraged to undertake further training or studies to ensure that they have the qualifications and skills required.
- FIRST THING YOU NEED TO KNOW: PROJECT MANAGEMENT INSTITUTE (PMI®)
The acronym PMI stands for Project Management Institute. The global not for profit organisation was founded in 1969 and since then has membership with over 2.9 million professionals across the world. The aim of PMI is to improve organisational success, advance careers and mature the profession of project management. PMI achieves this through their globally recognised certificates, networking opportunities and professional development courses.
Some of PMI’s Credentials are listed down below:
- Certified Associate in Project Management (CAPM®)
- Project Management Professional (PMP®)
- Program Management Professional (PgMP®)
- Portfolio Management Professional (PfMP®)
- PMI Agile Certified Practitioner (PMI-ACP®)
- PMI Risk Management Professional (PMI-RMP®)
- PMI Scheduling Professional (PMI-SP®)
- PMI Professional in Business Analysis (PMI-PBA®)
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2. INDUSTRY INSIGHT
A study conducted by PMI® reported that there are over 2 million project management professionals employed throughout the world.
Between the year 2010 and 2020, an estimated 15.7 million new project management roles will be created. Along with job growth, the project management profession is expected to grow and reach $9,180 trillion AUD. As a result of both factors, the project management industry will become highly desirable for job seekers.
Reasons behind the rise of Project Management Positions:
- Growing Industries – Project management roles are expected to increase as multiple industries are now introducing project management into their operations.
- Expanding Markets – Between the year 2010 and 2020, an estimated 15.7 million new project management roles will be created.
3. HOW WILL HAVING A PROJECT MANAGEMENT PROFESSIONAL (PMP®) CERTIFICATE IMPACT YOUR CAREER?
The PMP® certificate is a globally recognised project management certificate that is offered by Project Management Institute (PMI®). The eligibility criteria of the PMP® certificate helps distinguish the certificate from other project management certifications as it is not focused on industry, methodology or location. The PMP® certificate is considered the gold standard of project managers as it verifies the individual’s experience and education and emphasises that the individual understands the practices and principles required to effectively lead and direct projects.
ADVANTAGES OF PMP® CERTIFICATE:
- Salary Boost – Project Management Salary Survey indicated that those individuals who have the certificate are recorded to have a salary level that is 20% higher than those individuals without the credential.
- Career Enhancement – The certificate will help enhance resumes and open doors for those seeking a project management position.
- Credibility – To be eligible for the certificate, individuals must have a four-year degree and at least 3 years of project management experience. Obtaining this certificate is not easy, therefore it represents a high level of commitment, professionalism and experience.
4. HOW WILL HAVING A CERTIFICATE ASSOCIATE IN PROJECT MANAGEMENT (CAPM®) IMPACT YOUR CAREER?
The CAPM® a credential offered by PMI® recognises individuals that are new to the project management industry. The certificate is designed for those professionals who have minimal to no experience in the field and is considered as an entry-level project management certificate. The CAPM® exam tests a candidate’s knowledge of different project management areas and groups. Individuals who do not meet PMP’s eligibility criteria can apply for CAPM®.
ADVANTAGES OF CAPM® CERTIFICATE:
- Career Boost – Employers trust this credential as the certificate can be viewed as a prerequisite. Having the certificate next to your name will help upskill your career, increase your roles and responsibilities within an organisation.
- Better Job Opportunities – Better job opportunities will arise as the certificate will open new doors leading to entry-level project management jobs in various industries. Major companies recognise and value this certificate as it demonstrates the individual’s skills and understanding when it comes to managerial roles regardless of whether they have professional experience or not.
5. PMP® VS CAPM®
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