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Everything you need to know about PSM certification

1. Introduction to Professional Scrum MasterWho is Professional Scrum Master (PSM)?We partially give some elements in a previous article on our blog: “ How To Choose A Scrum Master? “. On top of that, it is important to   highlight that the Professional Scrum Master wear different hats according to the context: s/he is a coach, facilitator, enabler, problem- solver, proxy. His/Her main characteristic is to embody Servant Leadership. And basically, as the first promoter of Agile in the   organization, s/he truly has the Agile mindset and is more than willing to share it.Role and Responsibilities of PSM in the teamBecause the position of Scrum Master depends so much on the context, you will find multiple potential roles and responsibilities description by searching on the Internet. However, here are the basics:Coaching the organization, especially the Scrum Team, to get an Agile mindsetIncreasing the quality of deliverables and reducing time to deliverHelping the Dev Team to become self-organized and self-empoweredBuilding culture of trust, transparency, feedback and “fast failure to learn fast”\Advocating in favor of the more appropriated framework to make the Dev Team performant – it can be something else than Scrum!Ensuring that this framework is properly implemented to fit with the Scrum Team needsRemoving any impediment and blocker that prevent the Scrum Team to perform Requirements to become a PSMOfficially, there is no specific requirement: everyone is a potential candidate to become a Professional Scrum Master (PSM).Why become a PSM and what do I need to become a PSMDo you live and breathe Agile? Ok, that sounds too much.Nevertheless, have in mind that learning theory and training to open assessments is one sufficient thing to get certified but acting as a good Scrum Master requires a true behavior and belief in Agile philosophy coupled with large experience, ideally in organizations that have succeeded in their transformation.Like other jobs at “vocation”, you feel a true desire to become Scrum Master when working or at least meeting with one of them. When you meet a great Scrum Master, at some point you could become aware that you do want to do the same job: because you help people working better, feeling better at work, you participate to a radical transformation in the workplace for a better organization.2. What’s the importance of a PSM certificate?Getting a PSM certificate demonstrates the capacity to know, understand and apply Scrum in real-world situations.3. PSM Certification TrainingHow to become a PSM?Although it is highly recommended, taking a training is optional. However, taking the official exam is mandatory to get certified. Scrum.org is the official provider:Syllabus of Professional Scrum MasterA core of knowledge about Scrum remains the Scrum Guide from Ken Schwaber and Jeff Sutherland.Spend time and train seriously on the Scrum Open Assessment: this is the most realistic assessment you can train on!Next very useful resources are available with the Scrum Master Learning Path: this is a set of Professional Scrum Competencies which each contain a number of focus areas.Further reading:Scrum tutorial: An in-depth learning of Scrum, about its origin, evolution, and the progressive development of the framework.Scrum.org recommends strongly these books:Scrum: A Pocket Guide by Gunther VerheyenSoftware in 30 days by Ken SchwaberScrum.org offers also:A very complete glossaryforums populated by threads of quality, written by contributors with solid experience in ScrumA popular blog regularly updated with highly valuable posts, again made by writers shortlisted by Scrum.orgOther Open Assessments might be relevant to gain additional perspective on the other roles of a Scrum Team: check the Scrum Developer Open Assessment and the Product Owner Open Assessment.What is the eligibility to become a PSM trainer?Eligibility to become a PSM trainer requires three conditions. First, candidates must have at least four years of intense experience as Scrum Master in software development. Second, candidates must have conducted real-world training and have delivered coaching using Scrum. On top of that, candidates passed their PSM 1 assessment with at least a 95% score.After PSM training within how many days do I need to take the certification? After PSM training, there is no minimum duration to take the certification. As soon as candidates feel they are ready, they can schedule an online assessment.4. Exam and Certification Information Who provides the certification?Scrum.Org coursesA list of Scrum.org official sessions is available online. As stated on their website:Professional Scrum Master™ (PSM) is a 2-day course that covers the principles and (empirical) process theory underpinning the Scrum framework and the role of the Scrum Master in it. This course is a combination of instruction and team-based exercises and teaches what is at the heart of the Scrum and Agile movement. The course also includes a free attempt at the globally recognized Professional Scrum Master I certification exam (PSM I).It is also important to know that taking a Scrum.org official training offers candidates a free attempt at the assessment.What is the process for applying for the certification?As passing the certification does not require to attend to the official course, candidates can directly apply on the Scrum.org website. They will receive a personal password (with no expiration date) and then they can connect to a specific page and take the exam.Cost of the Professional Scrum Master certificationThe cost is $150 per attempt. If you attend a Scrum.org training class, fees include a free attempt.The structure of the examThe exam is exclusively online. It consists of 80 Multiple Choice, Multiple Answer and True/False questions. 60 minutes maximum are allowed to perform the full exam, and only English language is available.Topics covered in the PSM examScrum Framework: this is foundational knowledge for every Scrum Team member. It covers Scrum theory as described in the Scrum Guide.Scrum Theory and Principles: this topic is more about understanding Scrum theory: empirical process, principles, and values of Scrum.Cross-Functional, Self-Organizing Teams. Questions here cover how Scrum Teams are different from traditional development teams:cross-functional, self-empowered and self-organizing people promote flexibility, creativity, and productivity.Coaching and Facilitation. Questions here are about how mindset and behavior of Scrum Master are different from traditional Project Manager: by acting as a Servant Leader, the Scrum Master facilitates and coaches full organizations in understanding and using Scrum.Sample questions of PSM exam Here are three potential questions at the PSM exam:Question 1: When many Development Teams are working on a single product, what best describes the definition of “done”?Each Development Team defines and uses its own. The differences are discussed and reconciled during a hardening Sprint.Each Development Team uses its own but must make their definition clear to all other Teams so the differences are known.All development Teams must have a definition of “done” that makes their combined work potentially releasable.It dependsCorrect answer : 3Question 2:The three pillars of empirical process control are:    1. Inspection, Transparency, Adaptation    2. Transparency, Eliminating Waste, Kaizen    3. Planning, Inspection, Adaptation    4. Respect For People, Kaizen, Eliminating Waste    5. Planning, Demonstration, RetrospectiveCorrect answer: 1Question 3:The maximum length of the Sprint Review (its time-box) is:4 hours for a monthly Sprint. For shorter Sprints, it is usually shorter.As long as needed.2 hours1 day.4 hours and long as needed.Correct answer: 1Tips to pass PSM The best way to be well prepared for the PSM official exam is to work on the Scrum Open Assessment.You can consider that you are ready once you get 100% at every attempt.Salary of the Professional Scrum MasterSalaries of the PSM can vary a lot according to level of experience, industry, company size and location. Here is a table with most common figures:USFranceUnited KingdomSingaporeJunior70,000-115,00030,000-40,00040,000-70,00080,000-100,000Mid-Senior(more than 3 years with SM experience)90,000-135,00035,000-55,00060,000-110,00095,000-125,0005. Is the PSM I certification worth investing?CSM vs PSM exam:"Differences to note" CSM PSM Passing ScoreMinimum 69%(24 out of 35 questions)Minimum 85%Exam patternMultiple choiceMultiple choice,Multiple Answers and True/False questions.Exam durationNo time limit,35 questions60 minutes to complete 80 questionsCertification Validation2 yearsLife timeCertification cost                      1200$2nd attempt is free in within 60 days        25$ for  additional  attempt.             150$(one  attempt)Exam  Level2 Days training + Exam           Much  harder than CSM       Require experience,and deep         Theoretical knowledge.The first goal at Scrum.org is to make candidates understanding how to get valuable software thanks to a high level of maturity in Agile using Scrum. In order to achieve that, Scrum.org deliver assessments to examine, improve and certify candidates’ knowledge of Scrum. On top of that, the Scrum Guide and the Nexus Guide serve as the main background for all Scrum.org assessments. Individuals that are successful at the PSM 1 certification demonstrate a fundamental level of Scrum mastery: they understand Scrum as described in the Scrum Guide and the concepts of applying Scrum. The PSM 1 certification is considered significantly more valuable than other options for Scrum.6. What next after PSM?People who follow Scrum.org courses can claim Project Management Institute (PMI) Professional Development Units credit: 14 PDUs after attending a two-day Professional Scrum Master (PSM). Keep in mind that PMI PDUs are earned for course attendance and not for passing a Scrum.org assessment.7. How much should I pay to renew PSM certification?There is no need to renew PSM certification: Scrum.org certificates are lifelong and do not require any additional payments or renewals.Career benefits of PSM certifiedConsequently, becoming now a certified and experienced professional in Agile expertise seems to be an interesting option to stay at least “employable” and marketable. Still being realistic, professionals in Agile will be directly requested either to perform the Agile transformation in many big (old) organizations or to build the Agile culture from scratch in new companies and startups. Attractive and valuable challenges are in perspective.

Everything you need to know about PSM certification

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Everything you need to know about PSM certification
1. Introduction to Professional Scrum Master


Who is Professional Scrum Master (PSM)?

We partially give some elements in a previous article on our blog: “ How To Choose A Scrum Master? “. On top of that, it is important to   highlight that the Professional Scrum Master wear different hats according to the context: s/he is a coach, facilitator, enabler, problem- solver, proxy. His/Her main characteristic is to embody Servant Leadership. And basically, as the first promoter of Agile in the   organization, s/he truly has the Agile mindset and is more than willing to share it.


Role and Responsibilities of PSM in the team

Because the position of Scrum Master depends so much on the context, you will find multiple potential roles and responsibilities description by searching on the Internet. However, here are the basics:

  • Coaching the organization, especially the Scrum Team, to get an Agile mindset
  • Increasing the quality of deliverables and reducing time to deliver
  • Helping the Dev Team to become self-organized and self-empowered
  • Building culture of trust, transparency, feedback and “fast failure to learn fast”
  • \Advocating in favor of the more appropriated framework to make the Dev Team performant – it can be something else than Scrum!
  • Ensuring that this framework is properly implemented to fit with the Scrum Team needs
  • Removing any impediment and blocker that prevent the Scrum Team to perform

Role and Responsibilities of PSM in the team

 Requirements to become a PSM

Officially, there is no specific requirement: everyone is a potential candidate to become a Professional Scrum Master (PSM).


Why become a PSM and what do I need to become a PSM

Do you live and breathe Agile? Ok, that sounds too much.

Nevertheless, have in mind that learning theory and training to open assessments is one sufficient thing to get certified but acting as a good Scrum Master requires a true behavior and belief in Agile philosophy coupled with large experience, ideally in organizations that have succeeded in their transformation.

Like other jobs at “vocation”, you feel a true desire to become Scrum Master when working or at least meeting with one of them. When you meet a great Scrum Master, at some point you could become aware that you do want to do the same job: because you help people working better, feeling better at work, you participate to a radical transformation in the workplace for a better organization.


2. What’s the importance of a PSM certificate?

Getting a PSM certificate demonstrates the capacity to know, understand and apply Scrum in real-world situations.

3. PSM Certification Training


How to become a PSM?

Although it is highly recommended, taking a training is optional. However, taking the official exam is mandatory to get certified. Scrum.org is the official provider:


Syllabus of Professional Scrum Master

A core of knowledge about Scrum remains the Scrum Guide from Ken Schwaber and Jeff Sutherland.

Spend time and train seriously on the Scrum Open Assessment: this is the most realistic assessment you can train on!

Next very useful resources are available with the Scrum Master Learning Path: this is a set of Professional Scrum Competencies which each contain a number of focus areas.

Further reading:

Scrum tutorial: An in-depth learning of Scrum, about its origin, evolution, and the progressive development of the framework.


Scrum.org recommends strongly these books:

Other Open Assessments might be relevant to gain additional perspective on the other roles of a Scrum Team: check the Scrum Developer Open Assessment and the Product Owner Open Assessment.

What is the eligibility to become a PSM trainer?

Eligibility to become a PSM trainer requires three conditions. First, candidates must have at least four years of intense experience as Scrum Master in software development. Second, candidates must have conducted real-world training and have delivered coaching using Scrum. On top of that, candidates passed their PSM 1 assessment with at least a 95% score.


After PSM training within how many days do I need to take the certification? 

After PSM training, there is no minimum duration to take the certification. As soon as candidates feel they are ready, they can schedule an online assessment.

4. Exam and Certification Information 

Who provides the certification?

Scrum.Org courses

A list of Scrum.org official sessions is available online. As stated on their website:

Professional Scrum Master™ (PSM) is a 2-day course that covers the principles and (empirical) process theory underpinning the Scrum framework and the role of the Scrum Master in it. This course is a combination of instruction and team-based exercises and teaches what is at the heart of the Scrum and Agile movement. The course also includes a free attempt at the globally recognized Professional Scrum Master I certification exam (PSM I).

It is also important to know that taking a Scrum.org official training offers candidates a free attempt at the assessment.

What is the process for applying for the certification?

As passing the certification does not require to attend to the official course, candidates can directly apply on the Scrum.org website. They will receive a personal password (with no expiration date) and then they can connect to a specific page and take the exam.

Cost of the Professional Scrum Master certification

The cost is $150 per attempt. If you attend a Scrum.org training class, fees include a free attempt.

The structure of the exam

The exam is exclusively online. It consists of 80 Multiple Choice, Multiple Answer and True/False questions. 60 minutes maximum are allowed to perform the full exam, and only English language is available.

Topics covered in the PSM exam

  • Scrum Framework: this is foundational knowledge for every Scrum Team member. It covers Scrum theory as described in the Scrum Guide.
  • Scrum Theory and Principles: this topic is more about understanding Scrum theory: empirical process, principles, and values of Scrum.
  • Cross-Functional, Self-Organizing Teams. Questions here cover how Scrum Teams are different from traditional development teams:cross-functional, self-empowered and self-organizing people promote flexibility, creativity, and productivity.
  • Coaching and Facilitation. Questions here are about how mindset and behavior of Scrum Master are different from traditional Project Manager: by acting as a Servant Leader, the Scrum Master facilitates and coaches full organizations in understanding and using Scrum.

Sample questions of PSM exam 

Here are three potential questions at the PSM exam:

Question 1: When many Development Teams are working on a single product, what best describes the definition of “done”?

  1. Each Development Team defines and uses its own. The differences are discussed and reconciled during a hardening Sprint.
  2. Each Development Team uses its own but must make their definition clear to all other Teams so the differences are known.
  3. All development Teams must have a definition of “done” that makes their combined work potentially releasable.
  4. It depends

Correct answer : 3

Question 2:The three pillars of empirical process control are:

    1. Inspection, Transparency, Adaptation
    2. Transparency, Eliminating Waste, Kaizen
    3. Planning, Inspection, Adaptation
    4. Respect For People, Kaizen, Eliminating Waste
    5. Planning, Demonstration, Retrospective

Correct answer: 1

Question 3:The maximum length of the Sprint Review (its time-box) is:

  1. 4 hours for a monthly Sprint. For shorter Sprints, it is usually shorter.
  2. As long as needed.
  3. 2 hours
  4. 1 day.
  5. 4 hours and long as needed.

Correct answer: 1

Tips to pass PSM 

The best way to be well prepared for the PSM official exam is to work on the Scrum Open Assessment.
You can consider that you are ready once you get 100% at every attempt.


Salary of the Professional Scrum Master

Salaries of the PSM can vary a lot according to level of experience, industry, company size and location. Here is a table with most common figures:


USFranceUnited KingdomSingapore
Junior70,000-115,00030,000-40,00040,000-70,00080,000-100,000
Mid-Senior
(more than 3 years with SM experience)
90,000-135,00035,000-55,00060,000-110,00095,000-125,000

5. Is the PSM I certification worth investing?

CSM vs PSM exam:"Differences to note" 

CSM 
PSM 
Passing ScoreMinimum 69%
(24 out of 35 questions)
Minimum 85%
Exam patternMultiple choiceMultiple choice,Multiple Answers and True/False questions.
Exam durationNo time limit,35 questions60 minutes to complete 80 questions
Certification Validation2 yearsLife time
Certification cost                      1200$
2nd attempt is free in within 60 days
        25$ for  additional  attempt.

             150$(one  attempt)
Exam  Level2 Days training + Exam           Much  harder than CSM
       Require experience,and deep
         Theoretical knowledge.


The first goal at Scrum.org is to make candidates understanding how to get valuable software thanks to a high level of maturity in Agile using Scrum. In order to achieve that, Scrum.org deliver assessments to examine, improve and certify candidates’ knowledge of Scrum. On top of that, the Scrum Guide and the Nexus Guide serve as the main background for all Scrum.org assessments.
 
Individuals that are successful at the PSM 1 certification demonstrate a fundamental level of Scrum mastery: they understand Scrum as described in the Scrum Guide and the concepts of applying Scrum. The PSM 1 certification is considered significantly more valuable than other options for Scrum.

6. What next after PSM?

People who follow Scrum.org courses can claim Project Management Institute (PMI) Professional Development Units credit: 14 PDUs after attending a two-day Professional Scrum Master (PSM). Keep in mind that PMI PDUs are earned for course attendance and not for passing a Scrum.org assessment.

7. How much should I pay to renew PSM certification?

There is no need to renew PSM certification: Scrum.org certificates are lifelong and do not require any additional payments or renewals.



Career benefits of PSM certified

Consequently, becoming now a certified and experienced professional in Agile expertise seems to be an interesting option to stay at least “employable” and marketable. Still being realistic, professionals in Agile will be directly requested either to perform the Agile transformation in many big (old) organizations or to build the Agile culture from scratch in new companies and startups. Attractive and valuable challenges are in perspective.

Nicolas

Nicolas Casel

Blog Author

Scrum Master / Agile Consultant with passion for fostering Agile mindset and improving User Experience.
Other skills: web development, CMS, usability, e-learning

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PMP or Prince 2 – The Management Certification Suitable For You

If you have arrived at this blog and are actually inclined to read it then it is a clear sign that you know what PMP and Prince 2 actually means. And no, it does not refer to the new version of the popular video Game of your college days [Prince]; it is actually the name of the project management certification that has huge followers and fans across the world. And that’s where the trouble starts. For its competitor too, boasts of a huge fan following of its own. The PMP certification, I am talking about. Almost all project management professionals, at least once in their career are in a dilemma about which certification to choose from PMP, Prince2 or ITIL. I, too, was faced with this confusion and finally, I was able to make an informed decision, thanks to the guidance of my experienced mentors and friends. A few days ago, one of my audience at a seminar asked me which certification to choose between PMP and Prince 2 and it reminded me of my days. This caused me to think why not write a blog for general audience and in turn, maybe it will help some of you. So I hope my little attempt serves its purpose. Please do let me know likewise or otherwise by leaving comments below this blog. Let’s begin! Brief summary about PMP – So that you know what we are dealing with: PMP is a trademark certification issued by PMI org and is a world-renowned project management certification that can be practised across domains, industries, and geographies. PMP stands for Project Management Professional and PMI stands for Project Management Institute PMP is governed by a framework known as PMBoK [Project Management Book Of Knowledge] This PMBoK is like a holy grail for PMI members and PMP certified members It gives tools and techniques for different situations and phases of project and it gives freedom to the project manager to decide which one to use in a particular situation depending upon the circumstances, history and future aspects PMP places onus on Integrity, Professionalism, Ethics, Communication, and transparency. PMI guides the project manager on the kind of role he/she should play in the success of projects and this lays down multiple guidance for them to be followed in spirit; the actual implementation may not be a textbook version. Brief Summary about Prince 2 – So that you know what we are comparing against: Prince2 stands for “Projects in Controlled Environment” version2 It also can be utilized for any type of project in the world It clearly lays out the roles and responsibilities of the team members in the project members The project is clearly divided into smaller manageable groups and has well laid out processes to be followed by the project manager It has 3 levels of certification: Foundation, Practitioner, and Professional Practical, to-do format, clear-cut items to be assigned, tracked and delivered are laid out in this AXELOS owned world famous certification. Hence, the name “Projects In Controlled Environment” ☺ As you must have sensed by now, PMP and Prince2 differ from each other in the following ways: PMP deals with a broad-level generic framework that believes in empowering you with the best-in-class tools and techniques but leaves the implementation and decision making to you as per your thought process Prince2 restricts your ability to change things because each and every process is clearly laid out with specific roles for team members and hence, well-defined project success PMP believes that project manager is an enabler whereas Prince2 visualizes project manager as an enforcer. PMP needs to be renewed every 3 years through contribution to the field of project management by sharing your knowledge and learning on your own; whereas Prince2 relies on making you appear for examination every 3-5 years. The terminologies used by each of the certification is different but I think you knew this would happen ☺ Which certification is suitable for you – PMP or Prince 2? We are clear by now, that both certifications are good, both of them are world renowned and both of them can lead to Project success. So which one should you go for? That was the initial question, isn’t it? Well, the answer is very simple and it is not related to the technical superiority of the course material for either of them. It is dependent on facts like: Where you live and work Where your clients are situated The kind of work routine that suits you Yes, strange! But it’s true. It has to come to that. Can you believe that? I couldn’t either when I first got to know about these but it turned out to be true. 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The questions are randomized so that no two candidates will get similar questions. The easier the question, the higher the passing score determinant and the higher or tougher the question, the easier the passing score. Duration to get certified: After completing your 35 hours of PMP workshop training, you need to rigorously prepare for the exam. Experts suggest dedicating several weeks to studying for the exam to ensure thorough preparation. 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An organization having a pool of CAPM qualified professionals has a good reputation and standing in the market. Owing to the benefits that they bring in, CAPM practitioners are much in demand.Benefits of getting CAPM certifiedLearn the right skills in project managementGain insights into project executing, monitoring, controlling and managementBe thorough in estimating project activity costsAchieve quality management and quality assurance at every stageMaster global project management best practicesOpen yourself to new opportunities and lucrative job offersEnhance your market credibility  Gain 23 contact hours/PDUsBe part of the PMI network and gain several benefitsEarn average salaries from $93,500 to $111,500Top companies that hire CAPM professionalsKaiser PermanateAecom CorporationSAP AmericaBooz, Allen, HamiltonInternational Business Machines (IBM) CorpWhere to take training for certification: Aspirants must train from an Authorized Training Partner (ATP) of PMI.Who should take the training for certificationAssociate Project ManagersProject ManagersIT Project ManagersProject CoordinatorsProject Analysts, Project LeadersSenior Project ManagersTeam LeadersProduct ManagersProgram ManagersProject SponsorsProject Team MembersEligibilitySecondary degree (high school diploma, associate’s degree or the global equivalent)23 hours of project management education completed by the time you sit for the examExam FormatNo of questions: 150 questions Time: 3 hoursDifficulty level: Moderate but requires thorough knowledge of project management principlesDuration to get certified: After completing your 23 hours of CAPM workshop training, you need to dedicate around 45-60 hours to ensure complete preparation for the exam. Your web-based exam results will be visible to you immediately upon completion of the exam.  Course fee for certification: INR 8999, USD 799Application fee for certification: For PMI membership: USD $ 129 plus USD $10 for application fee.Exam fee for certification:In IndiaMember: ₹17,377.00Non-member: ₹23,169.00In U.S.Member: $435Non-member: $4953. PMI-RMP®: Project Management Institute-Risk Management ProfessionalThe pandemic exposed many vulnerabilities that organizations had not been prepared for. When faced with unprecedented risks, organizations need specialists who can identify and assess project risks, mitigate threats and take advantage of opportunities. The PMI-RMP course and certification prepares professionals to perform this role and successfully steer projects in complex environments.PMI-RMP Demand: According to the 2015 Pulse of the Profession® by PMI, “Eighty-three percent of organizations that are high performers in project management practice risk management frequently while just 49 percent of low performers do so”. This shows the importance of risk management and the emphasis organizations place on qualified risk managers.Benefits of getting PMI-RMP certifiedApply risk management practices for greater competitive advantageIdentify and measure risks in project development and implementationQuantify and create risk response strategies to deliver products that meet stakeholder expectationsUse a proactive and focused approach to preventing problems, rather than dealing with them once they occurIncrease your visibility within the companyAim for greater career growthEarn salaries upto $115,931Top companies that hire PMI-RMP professionalsWhere to take training for certification: Aspirants must train from an Authorized Training Partner (ATP) of PMI.Who should take the training for certificationRisk ManagersRisk Management ProfessionalsProject ManagersProject SponsorsProgram ManagersProject EngineersProject CoordinatorsPlanning ManagersPlanning EngineersProject Cost Control EngineersQuantity SurveyorsCivil EngineersIT Project ManagersProduct ManagersProject AnalystsBusiness AnalystsProject LeadersProject Co-ordinatorsTeam LeadersTeam MembersEligibilityTo apply for the PMI-RMP® Credential, you need to possess a:Secondary degree (high school diploma, associate’s degree, or the global equivalent)4,500 hours of project risk management experience40 hours of project risk management educationORFour-year degree (bachelor’s degree or the global equivalent)3,000 hours of project risk management experience30 hours of project risk management educationExam FormatNo of questions: 170 questions Type: Multiple ChoiceTime: 3.5 hoursDuration to get certifiedApplication fee: For PMI membership: USD $ 129 plus USD $10 for application fee.Course fee for certification: INR12999, USD 999Exam fee for certificationIn U.S.Member: $520Non-member: $670Retake fee for certificationMember: $335Non-member: $4354. PRINCE2® Foundation/PRINCE2 PractitionerThe PRINCE2 (PRojects IN Controlled Environments) Foundation and Practitioner credentials are sought-after offerings from AXELOS. There are a number of credentials offered under PRINCE2 that make it suitable for a wider audience. Axelos keeps the PRINCE2 curriculum regularly updated with the latest industry advances, which makes it suitable for new age project management and intensive, demanding projects.  PRINCE2 Demand: PRINCE2 extends its applicability across industries and sectors. This makes it very popular in the market as it is a one size fits all model. Although PRINCE2 was founded in the UK, it has now firmly established its presence in industries across the world. According to a report in LinkedIn, PRINCE2 is the most popular project management methodology. A professional adept at PRINCE2 and holding the credential is highly valuable and sought after by organizations implementing PRINCE2 for their projects.  Benefits of getting PRINCE2 certifiedGuide projects in their entiretyTailor PRINCE2 to suit the needs of projects and organizationsValidate your commitment to continued excellence and quality  Master and demonstrate your proficiency of the PRINCE2® framework  Gain project management best practices and grow your career with confidence Work across projects in diverse sectors and industriesShow your ability to work in challenging work environments  Command higher salaries (upto $99,012 average) than your non-certified peers Top companies that hire PRINCE2 professionalsShellBPTranspower New ZealandIBMHPAquasoftGetronicsSiemensWhere to take training for certification: Aspirants must undertake training from a Certified Partner of AXELOS and an accredited training organization (ATO) with PeopleCert®.Who should take the training for certification?Project ManagersProject CoordinatorsProject AnalystsProject LeadersProduct ManagersProgram ManagersProject SponsorsTeam LeadersSenior Responsible OwnersProduct Delivery ManagersBusiness Change AnalystsProject and Programme Office PersonnelOperational Line ManagerAnyone who wishes to build up knowledge in project management EligibilityThere are no eligibility requirements for the PRINCE2® Foundation certification exam. To qualify for the PRINCE2 Practitioner exam, you must have at least one of the following certifications: PRINCE2® Foundation or higher (applicable only to certificates obtained after 1 January 2009) Project Management Professional (PMP)® Certified Associate in Project Management (CAPM)® IPMA Level A® (Certified Projects Director) IPMA Level B® (Certified Senior Project Manager) IPMA Level C® (Certified Project Manager) IPMA Level D® (Certified Project Management Associate) Project Management Qualification (PMQ) Project Professional Qualification (PPQ) Exam FormatFoundation ExamDuration: 60 minutes (1 hour) Questions: 60 Multiple choice questions Pass mark: 33 out of 60 available, or 55% Use of textbook: No, it’s a closed book examPractitioner Exam Duration: 150 minutes (2.5 hrs) Questions: 68 Objective type questions Pass mark: 38 out of 68 available, or 55% Use of textbook: Yes, but only the official PRINCE2® manual is permitted. Duration to get certifiedYou will need to attend 32-hours of PRINCE2® Foundation and Practitioner training from an ATO of AXELOS and PeopleCert®, following which you will be required to take the exams to demonstrate your knowledge of PRINCE2 and get certified. The results of your tests are issued within 2 business days from the date of your exam.  Course fee for certification: USD 1999Exam fee for certification: Included in course fee5.  PgMP®: Program Management Professional (PgMP)® Certification TrainingAnother project management from the PMI, this credential is more advanced than the PMP and certifies the holder’s ability to manage complex projects that cover functions, organizations, cultures and geographies. The credential mandates holders to be proficient in the six prime focus areas: Governance, Prioritization, Escalation, Resource Management, Benefits Realization, and Stakeholder Management.PgMP Demand: Credentials from the PMI are known for their rigorous standards and testing, which is why they are well accepted in industries across sectors. PgMP holders are better able to promote integration and coordination of multiple projects for the overall benefit of the program. According to PMI’s 2015 Pulse of the Profession® report, an organization’s projects are far more successful with program management than without it — 76 percent compared to 54 percent. This further compounds the demand for PgMP professionals. Benefits of getting PgMP certifiedGet in-depth knowledge of tools and techniques to handle complex multiple related projectsUnderstand Program Lifecycle and its processes, competencies, tools and techniques with practical sample templatesLearn to implement large-scale programs to align with business strategyOpen yourself to lucrative job opportunities and leadership rolesWork in projects across geographiesEarn high salaries, upto $139,000 on averageTop companies that hire PgMP professionalsAmazonGoogleMicrosoftCognizantCapgeminiDeloitteJP Morgan ChaseErnst & YoungWhere to take training for certification: Aspirants must train from an Authorized Training Provider of PMI®Who should take the training for certificationTeam LeadsSponsorsProject DirectorsProgram ManagersPortfolio Managers  Project Management Office (PMO) HeadsEligibilityA Four-year Degree (Bachelor's or Global equivalent), with at least four years of Project Management experience and four years of Program Management experience.ORA Secondary Diploma (High school or Global equivalent), with at least four years of Project Management experience and seven years of Program Management experience. Exam FormatNo of questions: 170 multiple-choice, of which 20 are considered pretest questions which are not scored.Question type: Most questions are scenario based and test a professional's understanding and clarity of thoughts on different Program Management concepts.Time: 4 hoursDifficulty level: DifficultDuration to get certified: You have to complete your 24 hours of training from an Authorized Training Partner (ATP) of PMI. Make a study plan and stick to it religiously. The PgMP is considered to be more difficult than the PMP and requires a fair bit of preparation. Once you pass the 4-hour exam you will be PgMP certified.  Course fee for certification: INR 13,999; USD 1199Application fee for certification: For PMI membership: USD $ 129 plus USD $10 for application fee.Exam fee for certificationIn IndiaMember: ₹46,338.00Non-member: ₹77,230.00In U.S.Member: $800Non-member: $1000Retake fee for certificationMember: $600Non-member: $8006. PMI-ACPPMI-ACP Demand: Agile is a fairly new concept in the context of product development. Though organizations reap immense benefits by adopting Agile, the road to transformation can often turn out to be expensive if not well executed. PMI-ACP professionals are therefore in huge demand as they can bring in project management best practices in Agile environments and ensure project success.  Benefits of getting PMI-ACP certifiedThe shortage of Project Managers has increased job opportunities in the Agile environmentYou will qualify for Agile jobs with expertise in Agile methods like Scrum, FDD, Kanban, etc. which are in demand in the industryEarn salaries in the range of $108,000 on an averageEquips you with knowledge of various Agile methodsMakes you more marketableTop companies that hire PMI-ACP professionalsStandard CharteredOracleIBMVMWareSource: IndeedWhere to take training for certification: Aspirants must train from an Authorized Training Provider of PMI® Who should take the training for certification?Project ManagersProject PlannersQuality Assurance StaffDevelopers/ProgrammersDesigners, TestersProject ControllersProduct OwnersScrum MastersScrum Team MembersEligibilityTo apply for the PMI-ACP®, candidates must meet the following requirements:1. General Project Experience2000 hours of working on project teams within the last 5 years or having an active PMP®/PgMP® credential2. Agile Project Experience1500 hours of working on Agile Project Teams or with Agile Methodologies, in addition to “General Project Experience” above;3. Training in Agile Practices21 contact hours earned in Agile PracticesExam FormatNo of questions: 120 MCQ, of which 20 are pre-testDuration: 3 hoursDuration to get certified: Once you complete the course, you need to schedule the exam date. Exam applications have to be submitted and approved by PMI. Online applications m ay take upto five business days to get processed. Once your application is processed, you can schedule your exam date, and on passing receive the PMI-ACP credential.Course fee for certification: INR 10,999, USD 1099Application fee for certification: For PMI membership: USD $ 129 plus USD $10 for application fee.Exam fee for certificationFor members: $435Non-members: $495Retake fee for certificationMembers: $150Non-members: $200SummaryProject Management is among the most sought after job roles, not only in the tech industry but any industry that executes and manages projects. By 2027, 88 million individuals will need to be skilled in project management-oriented roles. This makes it among the hottest job trends in the coming years, and a credential will go a long way in helping you capitalise on this trend.
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Best Project Management Certifications in 2021

While nothing can replace industry work experience... Read More

Project Contracts – A Vital Legal Binding

One of the key knowledge areas discussed in the Project Management Professional (PMP®) certification is Procurements Management. As part of project procurements management a project manager is mainly expected to be able to initiate, execute and manage projects based on the project contracts. This article is an attempt to discuss about project contracts, to discuss the importance of such contracts and to give an introduction to types of contracts as a precursor to subsequent articles. The PMBOK® defines a contract as follows. “Contract represents a mutually binding agreement that obligates the seller to provide the specified products, services or results, and obligates the buyer to provide the monetary or other valuable consideration in return. A contract can also be called an agreement, understanding, undertaking or a purchase order.” (PMBOK® 5.0) Any project involves two or more parties. One main party that is the buyer and the other the seller. In addition to these there can be other 3rd party elements that are not directly involved in the contract but are interested in or are impacted by the same. The contract between the buyer and the seller happens to protect the interests of the two parties entering into the agreement. The seller provides goods or services to the buyer for which the buyer compensates the seller monetarily or through other financial or non-financial means.   A contract is a formal agreement between the two parties and it is a legal binding amongst the two entities. A formal contract must be in written format and can be used even in court of law in the case of either party failing to honour their commitment or in the case of an appeal against any misdeeds. Dishonouring contracts may actually lead to settlements even in court but should ideally be settled mutually among the disagreeing parties, most probably through a mediator called an ‘arbitrator’. Normally in large organizations contracts are managed by a separate contract manager or a procurements manager. The management of contracts are done in 2 separate ways namely; centralized contracting and decentralized contracting. In centralized contracting, one contract manager manages all the contract related matters for multiple projects. This requires expertise in contracting, standardization of contracting practices across the organization and more focused management of contracts. In decentralized contracting, separate contract managers are allocated to manage the procurements for individual projects. This results in full time management of contracts and the contract manager must report progress to the project manager. This results in more focused management of project contracts and with time creates specialized expertise in contracting. However, this may result in duplication of contracting expertise and less standardization of contracting practices across multiple projects in the company. There are three main types of contracts. They are Cost Reimbursable OR Cost Plus, Time and Material or Unit Price and Fixed Price or Lump Sum contracts.  The applicability and use of these contract types based on the type of project, complexity and the parties involved may decide on variations based on the charges involved in order to ensure that the contract terms are mutually beneficial for the two parties. Hence, these contracts vary based on the cost, time and price.  A cost plus or cost reimbursement contract is a contract in which the contractor is reimbursed or paid all the actual expenses they incur when carrying out the work. In addition to this they are also allowed to charge an extra fee allowing them to obtain a profit. For example a contractor taking up building a contract may claim resource costs as well as any miscellaneous expenses incurred for travel, food, purchases as well as charge an additional amount from the customer in order to make a profit from the tasks carried out. A fixed price contract on the other hand does not depend on the resources utilized or time expended. A fixed amount is agreed upon between the contractor and the customer where the amount is paid to the contractor even if the resources expended is lower or higher than the agreed upon amount. Time & material contract is where the contracting party is paid only for the amount of time or resources spent. For example if there is a software development firm which assigns 4 resources for a project on a T&M basis the company will be paid an hourly rate for each resource based on the amount of time they spend on tasks in the project.  Each contract type has its own pros and cons for both the contracting and implementation party. For example a fixed price contract is suitable for an organization as they would know the amount due before hand and know that they won’t end up paying extra if the triple project constraints are not met. Similarly, a time and material project may be suitable for both parties, as amount will be charged only based on the amount of work done in the project and for the time spent. Advantages and disadvantages of each contract type depend on the context. Thus, it is important for stakeholders involved in projects to negotiate on contracts wisely.
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Project Contracts – A Vital Legal Binding

One of the key knowledge areas discussed in the Pr... Read More

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