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How Do I Maintain My PMP® Certification?

Did you get PMP® certified? Congratulations! It is not an easy feat to go through all the hard work in order to get your PMP® certification. But your credential is valid for only three years. You must participate in the Continuing Certification Requirements (CCR) program of PMI to keep your credentials active.As a PMP® credential holder, it is recommended by the Project Management Institute (PMI) to earn 60 PDUs (Professional Development Units) every three years. The CCR program encourages every PMP® certified professional to undergo educational and professional development activity. One PDU is equivalent to one hour of time that you spend in a Professional Development activity. There are multiple ways to earn these PDUs.Maintain your PMP® certification with CCR and PDUsEarning your PMP® certification is a big step but maintaining it should not be a big issue for you. The Continuing Certification Requirements (CCR) program offered by PMI is designed for you to grow and develop the skills that organisations are seeking in the present market scenario and at the same time you can maintain your certification status.CCR is an easy-to-use online tool through which you can report your PDUs. The Professional Development Units (PDUs) can be calculated in blocks of one hour of time that you spend by learning, teaching others, or volunteering. You can maintain your PMP® certification status with PMI by accumulating and tracking these PDUs over a three-year period.You need to earn 60 PDUs in order to maintain your PMP® certification exam. You can claim the required PDUs in two forms. They are:EducationGiving backPMP® Certification renewal feesOnce you meet the PDU requirements of CCR, you can complete the renewal process of your credential at any point of the cycle. You will receive an electronic notification to apply for PMP® certification renewal after PMI confirms that you have met the PDU requirements. You will be directed to submit the renewal fee payment on the online certification system as soon as you receive the notification. You should keep in mind that you must submit the payment in no later than 90 days after your cycle end date.The CCR renewal fee for members and non-members are as follows:PMI Membership StatusCCR Renewal FeePMI member$60Non-member$150Ways to earn PDUs through Educational activities - PMI Talent Triangle™`Research shows that the ideal skill set which the practitioners need to possess should comprise of technical, leadership, and strategic and business management competency. This is called the PMI Talent Triangle™. These competencies can be explained as:Technical project management: This competency comprises of the knowledge, skills, and behaviors related to specific domains of Project, Program, and Portfolio Management.Leadership: This competency comprises of the knowledge, skills, and behavior specific to leadership-oriented, cross-cutting activities that help an organisation to achieve its business goal.Strategic and business management: This competency includes the knowledge and expertise required in the industry or an organisation that enhances performance and delivers the business outcomes in a better way.The courses and activities included under the three components of the PMI Talent Triangle™ for the candidates to meet the 60 PDU bundle requirement prescribed by PMI are as follows:TechnicalLeadershipStrategic and Business ManagementLife Cycle ManagementCoaching & MentoringCustomer relationship & satisfactionTime, Scope, Risk ManagementProblem SolvingBenefits RealisationEstimationTeam BuildingLegal & Regulatory complianceAgile PracticesEmotional IntelligenceStrategic planning & analysisGovernanceConflict ManagementOperational FunctionsData gathering and modelingBrainstormingBusiness acumenEarned value managementInfluencingCompetitive analysisPerformance ManagementListeningMarket awarenessInterpersonal skillsBusiness models and structuresYou can choose from one of the following options under Education in order to earn the 35 PDUs under the CCR program offered by the Project Management Institute (PMI)®:1. Course or TrainingThe courses or training refers to the Instructor-led formal education courses or classes held in-person or online. Taking up the educational training courses is one of the effective and traditional ways to learn. You can choose the best-suited option from the plethora of options offered by PMI and third-party providers across the globe to earn 1 PDU of every hour of instruction:Training courses offered by a PMI Registered Education Provider (R.E.P)Face-to-face and instructor-led courses from PMI SeminarsWorld®Educational events held by PMI chapterAcademic education through programs accredited by the PMI Global Accreditation Center (GAC)Courses offered by other third-party providersE-learning On Demand courses.2. Organisation MeetingsThe activities, meetings, and local events are referred to as organisation meetings which provide you with an opportunity to learn and network with the other professionals. You can earn 1 to 2 PDUs by attending the events organised by PMI throughout the year.3. Online or Digital MediaThis comprises of the self-paced learning conducted online or through varied forms of digital media. You can customise your learning and educational opportunities according to your needs and suitability with the help of technology. There are numerous educational webinars, videos, and other types of digital content available online and on demand. You can earn 1 PDU by attending 1 hour of learning. The opportunities available through these resources are as follows:ProjectManagement.comPMI Online CoursesPMI Registered Education Providers (R.E.P.s).4. ReadDid you know that you can earn PDUs for your CCR by reading? Yes, you can do that through self-directed reading that is relevant to your PMP® certification. Reading is one of the valuable components of learning and there are numerous reading resources available that is related to the profession. You can choose from articles, books, whitepapers, or blogs to keep yourself updated in order to support your ongoing professional development.5. Informal LearningYou can also earn PDUs to maintain your PMP® certification by taking part in educational opportunities which focus on structured discussions. Sometimes, you get to learn from interaction with others. Also, 1 hour of learning under informal learning is equivalent to 1 PDU.Ways to earn PDUs by giving back to the professionYou can expand your knowledge and skills both personally and professionally while earning your PDUs to maintain your PMP® certification by giving back to the profession. This can prove to be a unique and great way to expand your horizons.Choose from the following ways to earn your PDUs by giving back to the profession:1. Work as a PractitionerYou can claim 8 PDUs per cycle by working as a practitioner and working in a domain area related to your certification. This enables you to apply your skills and knowledge in a practical setting. It also allows you to contribute to sustaining and growing the profession. These PDUs are only applicable to your current cycle and cannot be transferred.2. Create ContentDid you know that you can give back to the profession by creating content? Yes, you can earn PDUs to maintain your PMP® certification by creating new knowledge resources for practitioners as well as the public at large. You can share your insight and knowledge with others and contribute to their ongoing learning by developing knowledge resources. You can earn 1 PDU by spending 1 hour on creating content and can create new content in the following ways:Authoring booksWriting articles or blogsCreating webinars or presentations.3. Giving a PresentationThere are many occasions like PMI chapter event, professional conference, or within your organisation where you can give a formal presentation to others and share the knowledge which you have gained during your PMP® certification journey. You can earn 1 PDU by spending 1 hour in giving a presentation.4. Share KnowledgeYou can help others learn and grow by sharing your domain knowledge. You also contribute towards the growth of the profession and enhance the practices that are essential to your certified role by sharing your skills with others. Even if you are involving yourself in mentoring, teaching, or applying your subject matter knowledge towards an activity, but others will be benefited from your experience and perspective.5. VolunteerPMI has an active community of thousands of volunteers who offer their support to the Institute and the profession by working in a wide range of roles. You can earn PDUs to maintain your PMP® certification by offering your domain-related services as a volunteer to non-employer or non-client organisations. 1 hour of volunteer service is equivalent to 1 PDU.Volunteering options offered by PMIAre you trying to figure out a volunteering option to meet your CCR? There are numerous ways in which you can advance your career by contributing to PMI as a volunteer. These volunteering opportunities encompass a wide range of skills, interests, and goals.PMI helps you to search for volunteering opportunity easily around the world with the help of their Volunteer Relationship Management System (VRMS). So, pick the right opportunity for you from the following options:PMI Board of DirectorsBoard Support CommitteesPMI Educational Foundation (PMIEF)Member Advisory Groups (MAGs)Region MentorsStandards CommitteesExam Development VolunteersPMI Awards EvaluatorsPresenters at PMI EventsPMI Publication Reviewers (Knowledge Shelf, Bookstore reviewers, Project Management Journal® reviewers)Chapter Volunteers.PMI Local ChaptersBecome a member of your local PMI Chapter by paying a registration fee of $129 and a joining fee of $10 and take advantage of the knowledge and networking offered by it. The benefits of joining the local PMI Chapter are as follows:1. Get access to the inner circle of local Project ManagersGrow your network with the other professionals who are driving the field of project management forward. The group might vary from those who have just started to those at the top of their careers.2. Get easy access to exclusive events and seminarsAttend the chapter meetups and special guest talks to learn about the approach to facing new challenges from the professionals who have overcome similar obstacles in the past.3. Discover relevant job opportunitiesGet an opportunity to build your network with the local Project Management Professionals and get connections in companies located in your area to find new opportunities.To wrap it upEvery professional has got different goals and interests, in the same way, there are different types of requirements across various industries. As you have read above, PMI offers a plethora of opportunity to you in order to meet the CCR program, enabling you to explore new options and new avenues.You can choose the opportunities from education and giving back to the profession that suits you the best in order to fulfill the 60 PDU requirements to maintain your PMP® certification. You can read more about the Continuing Certification Requirements (CCR) by clicking here. Going further, getting a PMI membership exposes you to multiple opportunities which you can take in order to meet your CCR requirements.

How Do I Maintain My PMP® Certification?

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How Do I Maintain My PMP® Certification?

Did you get PMP® certified? Congratulations! It is not an easy feat to go through all the hard work in order to get your PMP® certification. But your credential is valid for only three years. You must participate in the Continuing Certification Requirements (CCR) program of PMI to keep your credentials active.

As a PMP® credential holder, it is recommended by the Project Management Institute (PMI) to earn 60 PDUs (Professional Development Units) every three years. The CCR program encourages every PMP® certified professional to undergo educational and professional development activity. One PDU is equivalent to one hour of time that you spend in a Professional Development activity. There are multiple ways to earn these PDUs.

Maintain your PMP® certification with CCR and PDUs

Earning your PMP® certification is a big step but maintaining it should not be a big issue for you. The Continuing Certification Requirements (CCR) program offered by PMI is designed for you to grow and develop the skills that organisations are seeking in the present market scenario and at the same time you can maintain your certification status.

CCR is an easy-to-use online tool through which you can report your PDUs. The Professional Development Units (PDUs) can be calculated in blocks of one hour of time that you spend by learning, teaching others, or volunteering. You can maintain your PMP® certification status with PMI by accumulating and tracking these PDUs over a three-year period.

You need to earn 60 PDUs in order to maintain your PMP® certification exam. You can claim the required PDUs in two forms. They are:

  • Education
  • Giving back

PMP® Certification renewal fees

Once you meet the PDU requirements of CCR, you can complete the renewal process of your credential at any point of the cycle. You will receive an electronic notification to apply for PMP® certification renewal after PMI confirms that you have met the PDU requirements. You will be directed to submit the renewal fee payment on the online certification system as soon as you receive the notification. You should keep in mind that you must submit the payment in no later than 90 days after your cycle end date.

The CCR renewal fee for members and non-members are as follows:

PMI Membership StatusCCR Renewal Fee
PMI member$60
Non-member$150

Ways to earn PDUs through Educational activities - PMI Talent Triangle™

`PMI Talent Triangle

Research shows that the ideal skill set which the practitioners need to possess should comprise of technical, leadership, and strategic and business management competency. This is called the PMI Talent Triangle™. These competencies can be explained as:

  • Technical project management: This competency comprises of the knowledge, skills, and behaviors related to specific domains of Project, Program, and Portfolio Management.
  • Leadership: This competency comprises of the knowledge, skills, and behavior specific to leadership-oriented, cross-cutting activities that help an organisation to achieve its business goal.
  • Strategic and business management: This competency includes the knowledge and expertise required in the industry or an organisation that enhances performance and delivers the business outcomes in a better way.

The courses and activities included under the three components of the PMI Talent Triangle™ for the candidates to meet the 60 PDU bundle requirement prescribed by PMI are as follows:

TechnicalLeadershipStrategic and Business Management
Life Cycle ManagementCoaching & MentoringCustomer relationship & satisfaction
Time, Scope, Risk ManagementProblem SolvingBenefits Realisation
EstimationTeam BuildingLegal & Regulatory compliance
Agile PracticesEmotional IntelligenceStrategic planning & analysis
GovernanceConflict ManagementOperational Functions
Data gathering and modelingBrainstormingBusiness acumen
Earned value managementInfluencingCompetitive analysis
Performance ManagementListeningMarket awareness

Interpersonal skillsBusiness models and structures

You can choose from one of the following options under Education in order to earn the 35 PDUs under the CCR program offered by the Project Management Institute (PMI)®:

Ways to earn PD

1. Course or Training

The courses or training refers to the Instructor-led formal education courses or classes held in-person or online. Taking up the educational training courses is one of the effective and traditional ways to learn. You can choose the best-suited option from the plethora of options offered by PMI and third-party providers across the globe to earn 1 PDU of every hour of instruction:

  • Training courses offered by a PMI Registered Education Provider (R.E.P)
  • Face-to-face and instructor-led courses from PMI SeminarsWorld®
  • Educational events held by PMI chapter
  • Academic education through programs accredited by the PMI Global Accreditation Center (GAC)
  • Courses offered by other third-party providers
  • E-learning On Demand courses.

2. Organisation Meetings

The activities, meetings, and local events are referred to as organisation meetings which provide you with an opportunity to learn and network with the other professionals. You can earn 1 to 2 PDUs by attending the events organised by PMI throughout the year.

3. Online or Digital Media

This comprises of the self-paced learning conducted online or through varied forms of digital media. You can customise your learning and educational opportunities according to your needs and suitability with the help of technology. There are numerous educational webinars, videos, and other types of digital content available online and on demand. You can earn 1 PDU by attending 1 hour of learning. The opportunities available through these resources are as follows:

  • ProjectManagement.com
  • PMI Online Courses
  • PMI Registered Education Providers (R.E.P.s).

4. Read

Did you know that you can earn PDUs for your CCR by reading? Yes, you can do that through self-directed reading that is relevant to your PMP® certification. Reading is one of the valuable components of learning and there are numerous reading resources available that is related to the profession. You can choose from articles, books, whitepapers, or blogs to keep yourself updated in order to support your ongoing professional development.

5. Informal Learning

You can also earn PDUs to maintain your PMP® certification by taking part in educational opportunities which focus on structured discussions. Sometimes, you get to learn from interaction with others. Also, 1 hour of learning under informal learning is equivalent to 1 PDU.

Ways to earn PDUs by giving back to the profession

You can expand your knowledge and skills both personally and professionally while earning your PDUs to maintain your PMP® certification by giving back to the profession. This can prove to be a unique and great way to expand your horizons.

Choose from the following ways to earn your PDUs by giving back to the profession:

1. Work as a Practitioner

You can claim 8 PDUs per cycle by working as a practitioner and working in a domain area related to your certification. This enables you to apply your skills and knowledge in a practical setting. It also allows you to contribute to sustaining and growing the profession. These PDUs are only applicable to your current cycle and cannot be transferred.

2. Create Content

Did you know that you can give back to the profession by creating content? Yes, you can earn PDUs to maintain your PMP® certification by creating new knowledge resources for practitioners as well as the public at large. You can share your insight and knowledge with others and contribute to their ongoing learning by developing knowledge resources. You can earn 1 PDU by spending 1 hour on creating content and can create new content in the following ways:

  • Authoring books
  • Writing articles or blogs
  • Creating webinars or presentations.

3. Giving a Presentation

There are many occasions like PMI chapter event, professional conference, or within your organisation where you can give a formal presentation to others and share the knowledge which you have gained during your PMP® certification journey. You can earn 1 PDU by spending 1 hour in giving a presentation.

4. Share Knowledge

You can help others learn and grow by sharing your domain knowledge. You also contribute towards the growth of the profession and enhance the practices that are essential to your certified role by sharing your skills with others. Even if you are involving yourself in mentoring, teaching, or applying your subject matter knowledge towards an activity, but others will be benefited from your experience and perspective.

5. Volunteer

PMI has an active community of thousands of volunteers who offer their support to the Institute and the profession by working in a wide range of roles. You can earn PDUs to maintain your PMP® certification by offering your domain-related services as a volunteer to non-employer or non-client organisations. 1 hour of volunteer service is equivalent to 1 PDU.

Volunteering options offered by PMI

Are you trying to figure out a volunteering option to meet your CCR? There are numerous ways in which you can advance your career by contributing to PMI as a volunteer. These volunteering opportunities encompass a wide range of skills, interests, and goals.

PMI helps you to search for volunteering opportunity easily around the world with the help of their Volunteer Relationship Management System (VRMS). So, pick the right opportunity for you from the following options:

  • PMI Board of Directors
  • Board Support Committees
  • PMI Educational Foundation (PMIEF)
  • Member Advisory Groups (MAGs)
  • Region Mentors
  • Standards Committees
  • Exam Development Volunteers
  • PMI Awards Evaluators
  • Presenters at PMI Events
  • PMI Publication Reviewers (Knowledge Shelf, Bookstore reviewers, Project Management Journal® reviewers)
  • Chapter Volunteers.

PMI Local Chapters

Become a member of your local PMI Chapter by paying a registration fee of $129 and a joining fee of $10 and take advantage of the knowledge and networking offered by it. The benefits of joining the local PMI Chapter are as follows:

1. Get access to the inner circle of local Project Managers

Grow your network with the other professionals who are driving the field of project management forward. The group might vary from those who have just started to those at the top of their careers.

2. Get easy access to exclusive events and seminars

Attend the chapter meetups and special guest talks to learn about the approach to facing new challenges from the professionals who have overcome similar obstacles in the past.

3. Discover relevant job opportunities

Get an opportunity to build your network with the local Project Management Professionals and get connections in companies located in your area to find new opportunities.

To wrap it up

Every professional has got different goals and interests, in the same way, there are different types of requirements across various industries. As you have read above, PMI offers a plethora of opportunity to you in order to meet the CCR program, enabling you to explore new options and new avenues.

You can choose the opportunities from education and giving back to the profession that suits you the best in order to fulfill the 60 PDU requirements to maintain your PMP® certification. You can read more about the Continuing Certification Requirements (CCR) by clicking here. Going further, getting a PMI membership exposes you to multiple opportunities which you can take in order to meet your CCR requirements.

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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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

How much does a PMP® Certification cost?

 Are you planning to take the PMP® certification exam soon? If yes, you should take the next step by starting with the application process. But before that, you need to have a clear idea about the costs which are included in the process of getting PMP® certified.  PMP® is considered as one of the most valuable and high demand certifications in the project management category. Having a PMP® certification under your belt will introduce you to the world of greater opportunity and lucrative salaries. But PMP® is a tougher exam compared to other certifications and requires more preparation to pass the exam.There are multiple items to consider when you try to find out the cost involved in the PMP® certification process. The PMP® certification costs include the application and exam fees plus any other additional costs associated with preparing for the exam.It is not just about the PMP® Exam feeYou need to pay an amount of $555 as the exam fee to sit for your PMP® certification exam. But you can bring it down to $405 by becoming a PMI member. But this is not the only cost involved in the PMP® certification cost. The costs can further be explained in the following points:1. Become a PMI member:It is not necessary for you to become a PMI member to sit for your PMP® certification exam. But the benefits of getting a membership with PMI is more than the membership fee. The annual membership fee along with the first time registration fee is $139. You can save $150 on the exam fee itself by becoming a PMI member.Apart from the exam fee, you get a free copy of the latest edition of PMBOK® Guide and other standards or guides published by PMI which you need to be thorough with in order to pass the PMP® examination. Further, you can gain the required PMP® PDUs for free by watching the webinars and joining the annual online conferences which are exclusively available for the members.2. PMP® certification exam fee:Once you become a PMI member, you need to pay $405 as the PMP® certification exam fee to take the computer-based exam at your nearest Prometric exam center. But it is $555 for non-members.You can take up the PMP® certification exam three times in the one-year eligibility period. Again, if you are a PMI member, you just need to pay a PMP® re-examination fee of $275 whereas, the non-members need to pay $375.3. PMBOK® Guide:As a PMP® aspirant, you shouldn’t consider only the PMBOK® Guide to be the syllabus of PMP® exam. It is an official reference book for the PMP® exam. It is recommended for every aspirant to read the PMBOK® Guide more than once while you prepare for your PMP® exam. The content of the PMBOK® Guide can be found in the real PMP® exam. The current cost of PMBOK® Guide is $47.98.Got a PMI membership? Then you can download the free copy of the PMBOK® Guide from the PMI website.4. Earning 35 contact hours by attending the Project Management Training Course:You need to complete 35 hours of project management course work to sit for the PMP® exam. Taking up a Project Management Training Course can help you to earn these 35 contact hours. The cost of these courses ranges based on the training provider. You need to spend around $1,000 to meet this requirement.5. PMP® exam reference books:As you know that PMP® certification exam consists of a complex exam pattern and you need to be well prepared to clear it at one go. You can get access to reference books both in hard copy and online. These resources contain tons of project management knowledge which proves helpful while you prepare for your PMP® exam.6. Practice Exams and Mock Tests:Taking PMP® sample exams plays a pivotal role in your PMP® exam preparation. These mock tests and practice exams prove as a good resource to test your readiness for the exam. Further, these mock tests will help you understand the techniques of time management which is an important factor while writing your PMP® certification exam.7.Renewing your credentials:You can’t stop your quest once you get your PMP® certification. Your PMP® certification is only valid for three years and you need to renew your credentials before it gets invalid. So, you need to pay $150 to renew your credential every three years. However, you can bring down this cost to $60 by becoming a PMI member.Confused? The following chart will help you to get a clear understanding of the costs involved in your PMP® certification:Sl. No.PMP® Certification Cost (Different Cost Aspects)Costs1PMI Membership fee along with joining fee$1392PMI Membership renewal fee$129 per year3PMP® Certification Exam fee for PMI members$4054PMP® Certification Exam fee for non-members$5555Rescheduling fee for PMI members$2756Rescheduling fee for non-members$3757PMBOK® handbook cost for membersFree8PMBOK® handbook cost for non-members$50 on Amazon9Cost of study guides and resources$40 to $10010Cost of practice tests$60 to $10011Renewal cost of PMP® certification for PMI members$6012Renewal cost of PMP® certification for non-members$150Online PMP® trainingWon’t it be great if you get access to PMP® certification training from your preferred location? You can make it possible by opting for online PMP® certification training. The e-learning course provided by the R.E.P.s give you access to innumerable mock tests and exam revisions. Few of the features of such courses are as follows:35 PDUs on completion of 35 hours of e-learning15 audio-visual modules covering all course topics from PMBOK® Guide13 hours of online contentPMP® eBook in downloadable format and PMP® exam blueprintA question bank on all knowledge areasTips and tricks to pass PMP® in the first attempt.PMI Talent Triangle™ BundleYou need to continue your learning and development in order to maintain your PMP® certification. The PMI® has set a 60 PDU requirement which you are expected to meet in order to continue your PMP® journey. As a PMP® certification aspirant, won’t you be happy to get all the course which you need to fulfill your PDU requirements in a bundle? You need to earn 35 PDUs in the Education category and meet the following minimum requirements, as per the PMI Talent Triangle™  skill areas:Education PDUs - Minimum Talent Triangle RequirementsCertificationTechnical PDUs RequiredLeadership PDUs RequiredStrategic PDUs RequiredRemaining PDUs - across any area of PMI Talent TriangleTotal Minimum RequiredPMP8881135The activities and courses included in the three components of the PMI Talent Triangle™ are as follows:TechnicalLeadershipBusiness & Strategic ManagementLife Cycle ManagementCoaching & MentoringCustomer relationship & satisfactionTime, Scope, Risk ManagementProblem SolvingBenefits RealisationEstimationTeam BuildingLegal & Regulatory complianceAgile PracticesEmotional IntelligenceStrategic planning & analysisGovernanceConflict ManagementOperational FunctionsData gathering and modelingBrainstormingBusiness acumenEarned value managementInfluencingCompetitive analysisPerformance ManagementListeningMarket awarenessInterpersonal skillsBusiness models and structuresThe best way to earn 35 contact hours of PMP® trainingYou can get access to PMP® certification training in three different methods. They are classroom training, instructor-led training, and self-learning method. All the mentioned modes have their own pros and cons, but self-learning is considered as the cheapest of all the three courses.You can choose between self-learning mode or instructor-led mode to take your online training. There are numerous R.E.P.s in the market who provide such training and help you attain 35 contact hours to fulfill the PMI requirements.You should consider the following important factors while searching for the best online platform for your PMP® certification training:Is the training provider a registered training body?Will you be provided with 35 hours certificate?Is the training provided in English?What is the duration of the eLearning access?Salary of a PMP® certified professionalAfter knowing about all the costs which you need to bear in order to get PMP® certified, won’t you love to know about what lies ahead of it? Here are five jobs for project management professionals in the US with the highest paid salaries.1. Pharmaceutical project management professionalA Pharmaceutical Project Manager works with researchers, doctors, and engineers to ensure that the research and development stay on schedule and on budget. He or she is responsible for overseeing the development of new medication for the treatment of diseases and other health problems. The average annual salary of a Pharmaceutical Project Manager based in the US is $131,833.2. Resources project management professionalA Resources Project Manager works toward making the process of extracting and growing natural resources by working with farmers, mining, and oil companies and eliminating waste as well as improving communication. He or she looks into the procurement of natural resources for efficient delivery to end consumers. The average annual salary of the Resources Project Manager based in the US is around $129,368.3. Consulting project management professionalFrom environmental engineers to sales managers, a Consulting Project Manager works at all the levels of the industry and they work on a case-to-case basis. He or she works with the goal to furnish industry expertise and advanced knowledge to the client in order to lead their project to success. A Consulting Project Manager earns an annual average salary of $129,208 in the US.4. Aerospace project management professionalThe job description of an Aerospace Project Manager includes working with designers and engineers to ensure the delivery of the new aircraft on time and on budget. His or her focus areas include quality control and risk management. The average annual salary of the Aerospace Project Manager based in the US is $121,923.5. Engineering project management professionalAn Engineering Project Manager communicates with clients to ensure the quality of the end product as demanded by the client. The annual salary of the Engineering Project Manager based in the US is $121,769 per annum.To concludeAs you can see, the PMP® certification involves a lot of other costs other than the exam cost itself. There is a cost involved in all the processes which you need to go through in order to get PMP® certified. But these costs can vary from person to person and the country you are residing in. Further, adding a PMP® certification to your collar exposes you to better career opportunities and higher salaries.
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How much does a PMP® Certification cost?

 Are you planning to take the PMP® certification... Read More

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