The credential PMP is created and managed by the Project Management Institute, in short PMI. The first credentials were awarded originally in 1984 and now in 2015, “PMI Today” states there are 658,523 certified PMs in more than 200 countries. PMP is also the most important recognized certification in the project management industry. In this moment there are eight certifications that you can choose from, depending on your specific professional needs.
Although certification doesn’t necessarily make you a good project manager, it still recognizes your expertise in the field of project management and gives you a common language for project management. The world of the 21st century is ruled by speed and that translates into an ever-changing business world. You always need to be up-to-date and up-to-speed. Nowadays most companies operate on project needs and recent studies show that these companies spend about one-fifth of the world’s GDP on projects only. That means that about $12 trillion is spent on projects! If you want to be one of the project managers that manages a part of this $12 trillion industry, then you need to be up to the challenge.
So what do you need to do to be able to take the test?
Well, to qualify for the PMP evaluation you need to meet certain requirements such as having a bachelor’s degree, having more than 4500 hours of project leadership and at least 35 hours of PM training. For the exam you will have 200 multiple choice questions made for each of the five performance domains and the number of questions for each domain varies. For example, for the first domain, Project Initiation you will have only 26 questions (or 13 percent). For the Project Planning part there will be 48 questions, for Project Execution 60 questions, Project Control and Monitoring 50 questions and for the last domain which is Project Finalization there will be 16 questions. I also need to point out that out of the total 200 questions, twenty-five of them will be “sample-questions” that are used only to tune the degree of difficulty. Therefore only 175 questions will be relevant to the exam outcome.
Most of the questions in the tests are pulled from the PMBOK Guide which you can purchase either in a new or used format with prices from 0.50 $ to 10$ from Amazon or from the PMI marketplace for up to 65 $. The exam itself will cost you as much as $550 to take, that is with all of the fees and charges included. This might seem a bit too much considering you’re paying half a grand just to sit through a computer test. But, PMP may be a potential 17% raise and also having a global certification that could present so many opportunities for your career might make the amount seem insignificant. So, should you take the test? The decision is, of course yours and we won’t make you say yes, but if you’re in a place in your career where you want to certify your experience and potentially increase your income, than we would suggest taking it.
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