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PMP® Application Process - All You Need to Know About It

Do you meet the eligibility criteria to sit for the upcoming PMP® certification exam? If yes, then you should begin your PMP® application process as soon as possible. As you have begun preparing for the PMP® exam, you must have got to know by now that the application process for PMP® exam seems to be very overwhelming. If you are yet to complete the training and gain the required contact hours to qualify the standards set by PMI then you should do it before you go ahead with the application process.It will be a relief for you to know that the application filing process for the PMP® exam is pretty straightforward, although, you might take some time to collect a few of the required information. You can choose between either online or filling a printable form to begin your application process. If you opt for the offline version then you need to send the form via courier, whereas, the online version is an instantaneous process.6 steps to fill your PMP® application formThe online form is the simplest and easiest way to begin the application process for your PMP® certification journey. The following steps are surely going to simplify your efforts while filling up your PMP® application form:1. Create a free account at PMI.orgThe PMP® certification exam application process begins with creating a free PMI account. Follow these steps to create your account:Click on ‘Login/Register’ at the top right corner once you go to http://www.pmi.org/.Click on ‘CREATE ACCOUNT’ and follow the on-screen instructions for creating your account.Then you need to wait for the follow-up mail to arrive in order to confirm your registration and then log in to your account.2. Fill the PMP® application formThe application form is divided into three sections, which are:First section: In this section, you need to provide your general information.Second section: In the next section, you need to provide your project management experience.Third section: Finally, you need to provide the details of your 35 contact hours training program in this section.Is that too much information to provide? Fret not, you can fill up the application form in multiple sittings. But you should remember that once you start filling your application form, you must complete and submit it within 90 days.You should ensure that the information provided in the PMP® application form is accurate and correct, or else, it would be very difficult for you to change the same once you submit the application. So, you should revise all the information twice before you submit it to PMI.3. Application completeness reviewThe Project Management Institute (PMI) uses email as a means to communicate all the information regarding your application status. It takes around 5 to 7 working days for PMI to complete reviewing your application once you submit it.4. Paying the examination feeOnce your application is reviewed and accepted, you receive a confirmation email from PMI. You will also be asked to make the payment for the PMP® certification exam. You need to pay $555 as an exam fee for your PMP® certification exam, but you can bring down this cost to $405 by becoming a PMI member.5. PMP® AuditA crucial stage for every PMP® aspirant is to make through the PMP® audit. However, PMI picks a small set of applicants randomly for the audit. This stage is followed by the submission of your PMP® application. Once you are selected for an audit, PMI will ask you to provide copies of certificates supporting your experience, contact hours training program information, education certificates, etc. Finally, you need to submit these documents and PMI will take approximately one week to review your documents.Once PMI is convinced with the information provided you, they will approve your application. After that, you can proceed to pay the fees for your PMP® exam.6. Schedule the PMP® examOnce you pay the examination fee, PMI will send you an eligibility code through an email. You need to use this unique code to schedule your PMP® exam through the Prometric site. You should keep in mind that you will have only one year to pass the exam from the date of receiving the code. Further, you can only take three maximum number of attempts.You should also note that you will only have 90 days to submit the documents to the PMI in order to complete the audit process. Also, your eligibility period will start from the day your audit is cleared.Schedule your PMP® exam through Prometric in 8 stepsThe easiest and quickest way to schedule your PMP® certification exam is by logging in to www.prometric.com. Once you log in, follow these steps to candidature for your exam:Step 1: Once you log in to the Prometric website, you need to choose the name of the test sponsor from the list and then you need to click on ‘Search’. Project Management Institute (PMI) is the test sponsor for the PMP® certification exam.Step 2: In the next stage you will find yourself in the PMI’s page in Prometric where you need to click on ‘SCHEDULE MY TEST’.Step 3: Once you do that, you will land on a page which gives you the option of choosing your country and state.Step 4: After choosing the country of your domicile, you will land on a page with all the information about the PMP® exam. You will find information of eligibility for PMP® exam, accommodations, documents to be carried along for the test, time of arrival to the exam center, rescheduling and cancellation policy, and online scheduling of the exam.Step 5: The next page consists of information regarding the privacy policy set by PMI for all the PMP® aspirants. Agreeing to these clauses will lead you to the next page.Step 6: You need to enter your Eligibility ID received from PMI along with the first four letters of your last name in this page.Step 7: Once the information provided by you matches, you will need to choose the date and time of your choice to appear for your PMP® certification exam. Moreover, this page will allow you to know the available options to choose the date and time of your exam.Step 8: The verification process is over once you choose your test center and provide the other additional information.How to choose the right projects for your PMP® application?Only 20% of the PMP® aspirants are selected for the PMI audit. To make it simple, you need the signatures of the stakeholders on the project description, information, and your role in the project to meet the requirements of the audit. The following points will surely prove to be helpful for you while choosing the right projects for your PMP® application:If you need to make a choice from multiple projects, it will be a wise option on your end to specify the projects and stakeholders for which you can easily acquire the formal approval when you are chosen for the audit.Another point which you should keep in mind is that you need to use PMI terminology as you are applying for a PMP® certification. Few good examples of the same are planning, lessons learned, updating business documents, and process assets.You can’t fake any information which is not accurate in your application. First, it is against the PMI code of ethics and second, if PMI finds the information to be wrong in its audit process then that is the end to your application and certification.Few things to avoid in your PMP® applicationAs mentioned above, applying for PMP® certification is a very straightforward process, but you need to consider a few dos and don’ts while filling your PMP® certification application. They are as follows:While specifying the contact information, you need to ensure the availability of someone in that location to receive your PMP® Certificate or any kind of communication received from PMI in a physical form.You need to check the availability of contact information for each project before you give the reference of the same. That’s because, if your application is picked for the audit then you have to take the signature from the reference that you state in the application as a proof of your provided information.You need to have the copies of all your education qualification certificate and have access to the certificate for your 35 contact hours. You might need these for audit too.PMI MembershipIt is highly recommended but optional for you to become a PMI member that might prove helpful for you to begin and continue with your PMP® certification journey. The following two reasons can motivate you to go ahead with your active PMI membership:As a PMI member, you will pay $405 for the PMP® certification exam, whereas, you would need to pay $555 as a non-PMI member. Getting a PMI membership will cost you $129 with a joining fee of $10. Keep visiting pmi.org for more recent information about the cost.You can maintain your PMP® certification and obtain PDUs easily with an active PMI membership.PMP® eligibility requirementYou need to meet certain eligibility criteria which have been set by PMI for all the aspirants of PMP® certification. The education and experience requirement set by PMI to sit for the PMP® certification exam are as follows:You need to have a 4-year bachelor degree along with 4500 hours of experience in leading and managing projects.If you have a high school diploma then you need to have 7500 hours of experience in leading and managing projects.Once you fulfill one of the above conditions, you need to fulfill a final prerequisite for your PMP® application which is 35 hours of PMP® training.Let’s wrap it upThe PMP® certification exam process might look a little complicated but it is a very straightforward process. You need to provide correct information about your education, experience, and training programs in order to qualify the PMI audit process. Further, you need to keep the duplicates of all the documents with you while filling your PMP® application form. And once you are selected for an audit, you can send the same documents to the PMI.This blog talks about the steps which you should follow while completing your PMP® application process along with all the steps to confirm your appointment at your nearest Prometric center. These steps will surely guide you to fill up your PMP® application form. Also, keep in mind the dos and don’ts while filling your application so as to avoid any dismay of rejection from PMI regarding your PMP® application.Wish you all the luck for your PMP® certification journey!

PMP® Application Process - All You Need to Know About It

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PMP® Application Process - All You Need to Know About It

Do you meet the eligibility criteria to sit for the upcoming PMP® certification exam? If yes, then you should begin your PMP® application process as soon as possible. As you have begun preparing for the PMP® exam, you must have got to know by now that the application process for PMP® exam seems to be very overwhelming. If you are yet to complete the training and gain the required contact hours to qualify the standards set by PMI then you should do it before you go ahead with the application process.

It will be a relief for you to know that the application filing process for the PMP® exam is pretty straightforward, although, you might take some time to collect a few of the required information. You can choose between either online or filling a printable form to begin your application process. If you opt for the offline version then you need to send the form via courier, whereas, the online version is an instantaneous process.

6 steps to fill your PMP® application form

Steps to fill PMP® application form

The online form is the simplest and easiest way to begin the application process for your PMP® certification journey. The following steps are surely going to simplify your efforts while filling up your PMP® application form:

1. Create a free account at PMI.org

The PMP® certification exam application process begins with creating a free PMI account. Follow these steps to create your account:

  • Click on ‘Login/Register’ at the top right corner once you go to http://www.pmi.org/.
  • Click on ‘CREATE ACCOUNT’ and follow the on-screen instructions for creating your account.
  • Then you need to wait for the follow-up mail to arrive in order to confirm your registration and then log in to your account.

2. Fill the PMP® application form

The application form is divided into three sections, which are:

  • First section: In this section, you need to provide your general information.
  • Second section: In the next section, you need to provide your project management experience.
  • Third section: Finally, you need to provide the details of your 35 contact hours training program in this section.

Is that too much information to provide? Fret not, you can fill up the application form in multiple sittings. But you should remember that once you start filling your application form, you must complete and submit it within 90 days.

You should ensure that the information provided in the PMP® application form is accurate and correct, or else, it would be very difficult for you to change the same once you submit the application. So, you should revise all the information twice before you submit it to PMI.

3. Application completeness review

The Project Management Institute (PMI) uses email as a means to communicate all the information regarding your application status. It takes around 5 to 7 working days for PMI to complete reviewing your application once you submit it.

4. Paying the examination fee

Once your application is reviewed and accepted, you receive a confirmation email from PMI. You will also be asked to make the payment for the PMP® certification exam. You need to pay $555 as an exam fee for your PMP® certification exam, but you can bring down this cost to $405 by becoming a PMI member.

5. PMP® Audit

A crucial stage for every PMP® aspirant is to make through the PMP® audit. However, PMI picks a small set of applicants randomly for the audit. This stage is followed by the submission of your PMP® application. Once you are selected for an audit, PMI will ask you to provide copies of certificates supporting your experience, contact hours training program information, education certificates, etc. Finally, you need to submit these documents and PMI will take approximately one week to review your documents.

Once PMI is convinced with the information provided you, they will approve your application. After that, you can proceed to pay the fees for your PMP® exam.

6. Schedule the PMP® exam

Once you pay the examination fee, PMI will send you an eligibility code through an email. You need to use this unique code to schedule your PMP® exam through the Prometric site. You should keep in mind that you will have only one year to pass the exam from the date of receiving the code. Further, you can only take three maximum number of attempts.

You should also note that you will only have 90 days to submit the documents to the PMI in order to complete the audit process. Also, your eligibility period will start from the day your audit is cleared.


Schedule your PMP® exam through Prometric in 8 steps

The easiest and quickest way to schedule your PMP® certification exam is by logging in to www.prometric.com. Once you log in, follow these steps to candidature for your exam:

Step 1: Once you log in to the Prometric website, you need to choose the name of the test sponsor from the list and then you need to click on ‘Search’. Project Management Institute (PMI) is the test sponsor for the PMP® certification exam.

Step 2: In the next stage you will find yourself in the PMI’s page in Prometric where you need to click on ‘SCHEDULE MY TEST’.

Step 3: Once you do that, you will land on a page which gives you the option of choosing your country and state.

Step 4: After choosing the country of your domicile, you will land on a page with all the information about the PMP® exam. You will find information of eligibility for PMP® exam, accommodations, documents to be carried along for the test, time of arrival to the exam center, rescheduling and cancellation policy, and online scheduling of the exam.

Step 5: The next page consists of information regarding the privacy policy set by PMI for all the PMP® aspirants. Agreeing to these clauses will lead you to the next page.

Step 6: You need to enter your Eligibility ID received from PMI along with the first four letters of your last name in this page.

Step 7: Once the information provided by you matches, you will need to choose the date and time of your choice to appear for your PMP® certification exam. Moreover, this page will allow you to know the available options to choose the date and time of your exam.

Step 8: The verification process is over once you choose your test center and provide the other additional information.

How to choose the right projects for your PMP® application?

Only 20% of the PMP® aspirants are selected for the PMI audit. To make it simple, you need the signatures of the stakeholders on the project description, information, and your role in the project to meet the requirements of the audit. The following points will surely prove to be helpful for you while choosing the right projects for your PMP® application:

  1. If you need to make a choice from multiple projects, it will be a wise option on your end to specify the projects and stakeholders for which you can easily acquire the formal approval when you are chosen for the audit.
  2. Another point which you should keep in mind is that you need to use PMI terminology as you are applying for a PMP® certification. Few good examples of the same are planning, lessons learned, updating business documents, and process assets.
  3. You can’t fake any information which is not accurate in your application. First, it is against the PMI code of ethics and second, if PMI finds the information to be wrong in its audit process then that is the end to your application and certification.

Few things to avoid in your PMP® application

Few things to avoid in your PMP® applicationAs mentioned above, applying for PMP® certification is a very straightforward process, but you need to consider a few dos and don’ts while filling your PMP® certification application. They are as follows:

  • While specifying the contact information, you need to ensure the availability of someone in that location to receive your PMP® Certificate or any kind of communication received from PMI in a physical form.
  • You need to check the availability of contact information for each project before you give the reference of the same. That’s because, if your application is picked for the audit then you have to take the signature from the reference that you state in the application as a proof of your provided information.
  • You need to have the copies of all your education qualification certificate and have access to the certificate for your 35 contact hours. You might need these for audit too.

PMI Membership

It is highly recommended but optional for you to become a PMI member that might prove helpful for you to begin and continue with your PMP® certification journey. The following two reasons can motivate you to go ahead with your active PMI membership:

  1. As a PMI member, you will pay $405 for the PMP® certification exam, whereas, you would need to pay $555 as a non-PMI member. Getting a PMI membership will cost you $129 with a joining fee of $10. Keep visiting pmi.org for more recent information about the cost.
  2. You can maintain your PMP® certification and obtain PDUs easily with an active PMI membership.

PMP® eligibility requirement

You need to meet certain eligibility criteria which have been set by PMI for all the aspirants of PMP® certification. The education and experience requirement set by PMI to sit for the PMP® certification exam are as follows:

  • You need to have a 4-year bachelor degree along with 4500 hours of experience in leading and managing projects.
  • If you have a high school diploma then you need to have 7500 hours of experience in leading and managing projects.

Once you fulfill one of the above conditions, you need to fulfill a final prerequisite for your PMP® application which is 35 hours of PMP® training.

Let’s wrap it up

The PMP® certification exam process might look a little complicated but it is a very straightforward process. You need to provide correct information about your education, experience, and training programs in order to qualify the PMI audit process. Further, you need to keep the duplicates of all the documents with you while filling your PMP® application form. And once you are selected for an audit, you can send the same documents to the PMI.

This blog talks about the steps which you should follow while completing your PMP® application process along with all the steps to confirm your appointment at your nearest Prometric center. These steps will surely guide you to fill up your PMP® application form. Also, keep in mind the dos and don’ts while filling your application so as to avoid any dismay of rejection from PMI regarding your PMP® application.

Wish you all the luck for your PMP® certification journey!


KnowledgeHut

KnowledgeHut

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KnowledgeHut is an outcome-focused global ed-tech company. We help organizations and professionals unlock excellence through skills development. We offer training solutions under the people and process, data science, full-stack development, cybersecurity, future technologies and digital transformation verticals.
Website : https://www.knowledgehut.com

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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. See, the thing is: Prince2 is followed fervently and much respected in Europe, UK and Australia PMP is adhered to and recommended for certain geographical regions such as North America, South America The remaining world such as Asia and Africa is neutral to both certifications and that leads to the next question: Where are your clients situated? And hence, your home address and your client location determine the certification you should go for. Some often asked questions across different forums:  1) Should I do both the certifications: PMP and Prince? If you can afford them then why not! They are expensive. Around 600-700 USD for PMP and around 400USD for Prince2 [exact price may vary across countries]. So if your pocket allows, then it will be a good thing to have. Is it really necessary? No. I am PMP certified and I have delivered projects to clients across globe and it has not hurt me. 2) Will my pay package increase with these certifications? If yes, which one gives better yields? Yes, your package will go up substantially after getting certified because it signifies that you have spent effort in getting familiar with the best-in-class frameworks and techniques. So big clients and companies can rely on you. The positive increase is almost similar for you. 3) Which certification is better for Infrastructure projects? Are they specific to IT or software projects only? No, they are not specific to IT or software projects. Yes, they can be used for Infrastructure, manufacturing or service-based projects. Because both the certifications allow you to learn the best techniques to deliver a project. The only difference is in the way they approach success. While PMP believes that you can do well as long as you know the right way of doing things, Prince2 believes in making sure that you follow the right path. 4) Is there any gender-specific preference in the certifications for PMP or Prince2? No. 5) If I have clients in the Middle East and Asia, which one should I choose because you just now mentioned that these regions are neutral in terms of preference for project management certifications. Going by historical data, Arab world has better connect with Europe and in recent times, some countries have developed good business relationships with America. So depending on the client and your profile, you can choose either of them. However, if you are looking for a safer option and a long-term career in the Middle East, then I recommend that you take both certifications- PMP and Prince 2. I hope this post was useful to you. By the way, do not forget that KnowledgeHut is a certified recognized provider of training for both the certifications: PMP and Prince2 with a very high success rate. All the best! ☺  
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PMP or Prince 2 – The Management Certificati...

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Best Project Management Certifications in 2021

While nothing can replace industry work experience, there is no doubt that a credible certification can open up new opportunities and elevate your current profile. This is true for any area of work and more so in the project management field.With projects getting more complex, pan global and resource intensive, organizations look to hire project managers who come with solid expertise and a recognised certification to back their knowledge and skill.With so many project management credentials to choose from, which one would suit you best in terms of the knowledge and opportunities you will gain? Here is a ready compilation of the best Project Management Certifications for 2021, to help you to make an informed decision.PMP® Certification TrainingCAPM® Certification TrainingPMI-RMP® Certification TrainingPRINCE2® Foundation and Practitioner Certification TrainingProgram Management Professional (PgMP)® Certification TrainingPMI-ACP® Certification Training1. Project Management Professional (PMP)®Arguably the most well-known credential in the Project Management space, the PMP is globally recognized as the gold standard in project management. Offered by the Project Management Institute (PMI)®, the PMP gives you the bandwidth to work in any industry, using any methodology and working on a variety of situations.This certification is a litmus test of your project management knowledge and skills in managing the project "triple constraints", that is time, cost, and scope. And with its new rollout, the PMP helps holders grow and develop diverse project management skills to suit the fast-changing markets of today and beyond.PMP DemandThe reason why PMP is so well received is because the skills one learns during the PMP certification journey can be applied across sectors, geographies and industries including IT, government sectors, telecommunications, manufacturing, banking and more.It allows certified professionals to maximise value, enhance bottom line margins and prove that they can drive business results.PMP continues to remain one among the best Project Management Certifications for 2021.Benefits of getting PMP certifiedValidate your commitment to continued excellence and qualityDemonstrate your proficiency in project managementGrow your career in project management with confidenceManage projects across sectors and industriesGet yourself hired by the bestEarn salaries that are up to 58% higher than those who do not hold the certificationEarn salaries up to $145,000Top companies that hire PMP professionalsExxon MobileAppleSAICEXELONWhere to take training for certification: Aspirants must undertake the training from an Authorized Training Provider of PMI®.Who should take the training for certification:Mid-Level, Senior Project ManagersProject CoordinatorsProject AnalystsProject LeadersProduct ManagersProgram ManagersProject SponsorsTeam LeadersAnyone interesting in building project management skillsEligibility for PMP examTo be eligible for the PMP® exam, you must fulfill the following criteriaEDUCATIONAL BACKGROUNDSecondary Degree (high school diploma, associate’s degree or global equivalent), ORFour-year Degree (bachelor’s degree or global equivalent), ORBachelor's or Post-Graduate degree from a GAC accredited program (bachelor’s degree or master's or global equivalent).PROJECT MANAGEMENT EXPERIENCEMinimum five years/60 months unique non-overlapping professional project management experience, ORMinimum three years/36 months unique non-overlapping professional project management experience, ORMinimum two years/24 months unique non-overlapping professional project management experience.PROJECT MANAGEMENT EDUCATION35 contact hours of formal education, unless you are an active CAPM holder.Exam FormatThe latest (2021) PMP® certification exam pattern is as follows:No of questions: 180 multiple-choice, multiple responses, matching, hotspot and limited fill-in-the-blank.Time: 230 minutesDifficulty level: The questions are populated as per the difficulty level. 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. Your web-based exam results will be visible to you immediately upon completion of the exam.Course fee for certification: In India: INR 14999, America: USD 999, Canada: CAD 1399Application fee: For PMI membership: USD $ 129 plus USD $10 for application fee.Exam fee for certification:In IndiaMember: ₹23,459.00 Non-member: ₹42,863.00In US Member: $405Non-member: $555Retake fee for certificationMember: $275Non-member:$3752. CAPM®: Certified Associate in Project Management Yet another offering from the PMI, the CAPM is a foundational credential that reflects the holder’s expertise in defining and managing new age project management tools and techniques. Based on the PMBOK® Guide-Sixth Edition, the CAPM will help you stand out among non-certified project managers and showcase your proficiency in implementing global project management best practices.  CAPM Demand: The CAPM certifies the holder as being adept in project management practices. 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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