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Certification has always been popular for those in the field of Project Management. In fact, recent statistics from PMI show more than 482,000 project managers currently hold the popular PMP certification, with APMG International reporting 144,000 PRINCE2 examinations sat for 2012.
In this article, we’ll take a look at some the top reasons why Project Managers are choosing the aforementioned certifications and help you answer the question, ‘do you need a Project Management certification?’
There are many reasons, both perceived and factual that lead project managers to certify via the popular PMP and PRINCE2 routes. I have tried to pull apart the top 5 reasons that can be backed by factual evidence.
Improved Credibility
PMI and APMG are globally recognised institutions, with their certifications associated as a sign of credibility in the field of project management. Attaining a PMP or PRINCE2 certification requires dedicated training where you are then required to pass an exam. It therefore acts as an endorsement form an independent third party that you are capable in the field of Project Management.
Demonstration of experience
Though it cannot be said for the PRINCE2 examination, in order to sit the PMP exam you must meet strict pre-requisites. This is equivalent to 4500-7500 hours of proven project management experience alongside 35 hours of project management training, therefore those sporting a PMP certification can demonstrate past experience.
Improved Career and Salary Advancement
Having a project management certification can be the defining factor to increased salary, or the gaining and edge over competitors for that promotion or new job your looking for. Recent figures from TechRepublic put PMP holders top for average salaries amongst all IT certifications with a median salary of $86,000. On average, holders of PMP or PRINCE2 earn 16% more than their non-certified counterparts.
Commitment to on-going skills development
Once certified, those who hold a PMP certification are required to commit to on-going education in order to renew membership. This allows the holder to keep up to speed on the latest news, software, techniques, tools, and issues related to their field of study this promoting the on-going development of skills. For PRINCE2 Practitioners, holders are required to re-certify every 3-5 years, again this requires the holder to continually commit to the development of skills keeping them constant with all the latest developments in the industry.
Improved Project Success
According to PMI’s 2012 Pulse of the Profession report, certification is closely aligned with project success. PMI found that in 72% of successful projects, the team consisted of 35% certified team members. Of course, correlation does not always equal causation, but it is a compelling statistic. And with recent reports highlighting $135 million at risk for every Billion dollars spent on projects, investment in training begins to pale in comparison.
Should you decide to certify, here are some additional considerations:
PRINCE2 or PMP?
They are two very different certifications, PRINCE2 focusses on the framework within which to manage projects, whereas PMP focusses on the skills and knowledge required by the Project Manager to take a project through it’s lifecycle. Different industries and locations will also tend to favour one certification over the other. For example, geographically PRINCE2 is more popular in the UK whereas PMP is more popular in the US.
Training options and cost
There is a multitude of training options available should you choose to consider certification. Self-study, distance learning and classroom based training vary greatly in cost and quality to prepare you suitably for the exam. The same can be said for Training providers; my advice, take the official route.
Pre-Requisites
As mentioned earlier whilst PRINCE2 has know pre-requisites, those for sitting the PMP exam are far more strenuous and limiting. Check if you meet them by visiting PMI’s official website.
So there you have it, some compelling evidence as to why Project Managers chose to certify. “But I can only show you the door. You're the one that has to walk through it.” (Morpheus et al. the Matrix, 1999)
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