PMP certification proves that you are a top-notch project manager. PMP benefits your career the same way higher education does, except it demonstrates that you have experience as a project manager. However, before you start the tedious PMP certification process, you must consider the advantages and disadvantages of project management. The benefits of project management are that the project's goal is always in sight, the team has to develop excellent communication, appropriately allocate resources and budget, and minimize the risk. But project management has several disadvantages, including less room for creativity, increased project cost and complexity, and communication overhead.
Once you understand these issues, it will be easier to understand the pros and cons of PMP certification. The PMP certification is one of the most prestigious certifications for a project manager, so the benefits of doing a PMP certification far outweigh the drawbacks. This article details the PMP certification pros and cons because if you are going to invest a substantial amount of time and money, you should get the benefits of PMP training.
What is Project Management Certification (PMP)?
Project Management Certification or PMP is a certification globally recognized for expertise in project management. A Project Management Professional benefits their career with an increased salary and exciting projects. Companies tend to hire a PMP over a non-PMP because there are benefits of PMP certification to employers. The benefit of PMP certification to an employer is that they have an employee who already has the experience and has undergone rigorous training and examination to obtain and maintain this certification.
The best part about the PMP certifications is that you can yoke PMP course benefits no matter your field. For example, suppose you have 36 months of project management experience and have a four-year graduate degree or 60 months of project management experience and an equivalent high school diploma. In that case, you can apply for 35 hours of CAPM certification. After this training, you will be eligible to sit for the exam.
The exam is very flexible as there is an online PMP certification and an offline PMP certification exam. You can sit for the online exam even from the comfort of your own home. However, you will also have to work hard to maintain your certification, complete 60 Professional Development Units or PDUs in education, and give back to the profession in three years to maintain your certification. So, it would help if you analyzed the benefits of getting a PMP certification.
Top Advantages and Disadvantages of PMP
The PMP advantages and disadvantages need a thorough discussion if you are going to start this journey because, as mentioned earlier, this is a continuous process and will require serious consistency. In addition, every coin has two sides, so if there are benefits to having a PMP certification, there are also drawbacks.
There are many instances when an organization itself gets its employees PMP certified because there are many benefits of PMP certification to the organization. When an organization pays for the training and exam, it will have to conduct a benefit-cost ratio of PMP. In this case, PMP benefits for the employees are immense as they get all expenses paid for the project management training program.
Now, let us have a detailed discussion about the advantages and disadvantages of getting a PMP certification.
Advantages of PMP Certification
There are many PMP certification benefits. That is the reason so many candidates are willing to undergo such a tedious process to get better career opportunities in some way or another. Advantages of PMP certification are plentiful, like higher compensation, higher demand in the industry, and cross-functionality, not to mention it gains you respect and recognition too.
These and many others are discussed below:
1. Healthy Earnings and Compensation
Project Manager is one of the highest-paid professions in the world. We work to make a living, and the benefits of project management certification will reflect significantly on your compensation by your organization. If you are in a higher position, the job's perks will increase. Working hard and earning your PMP shows your industry that you are willing to work. PMP certification adds value to your resume and puts you at a higher earning potential.
2. Increase in Salary
One of the most significant PMP exam benefits is the increased percentage of the salary. Every year the world employs millions more project managers, and higher qualified personnel get 16% more salary than project managers who have not qualified for the exam. Therefore, PMP certification proves your experience that nothing can negate.
3. High Demand for Project Managers
Project managers who have qualified for the PMP exam are always in high demand because employers know how rigorous the training and experience are for obtaining a PMP certification. As per the PMI website, there is an ever-increasing demand for a PMP-certified project manager.
4. Cross-Functional and Cross-Industry
Project management is a global skill. Project managers are required in every industry, and organizations can become more and more organized if they are willing to employ a project manager.
The advantage of PMP certification is that a professional can work across industries. The skills and knowledge acquired in the three to four years will be useful in all fields.
5. Scarcity of Certified PMPs
Even though many people sit for this exam daily, there is still a shortage of certified PMPs. There are just one million certified PMPs in a world where the economy is booming. As a result, the global acceptance of PMP certification has increased, and they get preferential treatment in jobs for project managers.
6. Large Professional Network
PMI has its own network of professionals who are always there to support each other. Becoming a member of the PMI might be a little bit expensive, but you get in touch with like-minded professionals in the project management field.
7. Acquire New Skills
When you complete the exam and training required to become a PMP, you should have ideally completed thousands of hours of training to become a better project manager. You would learn nuances of the profession which you might have ignored before. The training required provides a hands-on experience, the best way to learn any skill.
8. Respect and Recognition
As mentioned before, there are only about one million certified Project Management Professionals worldwide. So, mastering this certification would give you an edge and respect and recognition in your industry.
9. Learn to Speak PM Language
When you study the PMBOK guidebook, you learn to speak the language of project managers. Learning this language is very important if you want to communicate and share knowledge with the project managers of other industries.
10. Demonstrate Commitment and Dedication to the Profession
Completing a certification that takes a substantial amount of time and commitment displays dedication to the career. Such commitment is greatly admired in the professional world and sought after by organizations.
11. Enhance your career opportunities
Your career opportunities will widen. Earning PDUs every three years will keep you current in the industry. Organizations will be lining up to get a highly qualified and professional project manager.
Disadvantages of PMP Certification
However, there are many advantages to earning a PMP certification, there are also disadvantages. The work-life-study balance will suffer greatly and getting the certificate will occupy most of your time. Other disadvantages of getting the certification are:
1. It is costly
The registration costs a lot of money. The registration alone costs 405USD for members and 555USD for non-members at the time of writing this article. In addition, other costs will be involved in completing the training and earning the PDUs afterward.
2. Preparation for Exam is Time Consuming
The 35 hours of CAPM training requires a little more time commitment than that. If you want to earn this certification, then the time commitment to prepare for the exam is too much. In addition, the application process is so tedious that many people give up at the initial stage.
3. Certification requires PDUs to stay valid
You must earn 60 Professional Development Units every three years to stay current and maintain your certification. These PDUs can be earned by gaining experience as a project manager, teaching, conducting more training for PMPs, etc.
4. PMP teaches you just one of the many ways of managing projects
PMP certification guides you to manage a project only in one way; however, there are as many managerial styles as there are people. PMP teaches only the conventional ways of management, and unconventional ways are left out.
5. PMP certification is not a guarantee that you are a good project manager
Some people are way too good at taking exams and qualifying them. They know exactly what to study and how to attempt the paper to gain the maximum result. However, it is possible that they are not as great project managers as they are in academics. But rectifying this process also exists up to some time when you have to obtain your PDUs.
Is It Worth Getting PMP Certified?
Above we have discussed the PMP certification advantages and disadvantages in detail, and now the question arises, should you get PMP certification?
The answer is- it depends. It depends on your inclination to invest time and money in a huge cause to improve your career. You can wait for the right time to get your certification too. The benefits of getting the certification far outweigh the drawbacks. It will make your resume stronger, providing you with better opportunities.
So it is always better to get the certification than always be in doubt about what it would have done for your career. Enrolling for KnowledgeHut’s online PMP certification can turn out to be good decision.
We have listed all the benefits and drawbacks of getting this certification. Now it is up to you to decide about your career and choose what is best for you. Gaining this certification is an investment in your future. You can reap the benefits of your hard work all your life.
Frequently Asked Questions (FAQs)
1. What are the pros and cons of earning a PMP certification?
The pros of getting the PMP certification are Healthy earnings and compensation, increased salary, higher demand in the industry, etc. The cons of getting a PMP certification are high cost, time consumption, staying current, etc.
2. What are the advantages of fast-tracking a project?
The advantages of fast-tracking a project are early delivery, freeing up project resources, proper scheduling, etc.
3. Should project managers learn SQL?
A project manager doesn't need to learn SQL.
5. What are some limitations to project management?
Project management has many limitations, including room for creativity, increased project cost and complexity, and communication overhead.
6. How has a PMP certification helped you?
You can read many testimonials of PMP certification, providing many people with a better job and career growth.
7. Are certifications like PMP a good choice in the long run?
Yes, PMP certifications are an excellent opportunity for career growth.