As a project manager, there are several effective ways you can increase your professional competencies, earning potential and competitive advantage in the job market. For instance, the online Master of Business Administration (MBA) in Project Management program from Florida Institute of Technology provides project managers with advanced skills, knowledge and a highly respected qualification. By earning this degree, you can gain expertise, advance your job performance and leverage your credential to pursue senior manager positions and command better pay.
Beyond earning a specialized MBA, professional certifications in the field can give you an edge over the competition. As a top industry credential, the Project Management Professional (PMP) certification from the Project Management Institute (PMI) is well worth the effort required. This certification can position you to earn a 33% higher salary on average, according to PMI’s 2023 Project Management Salary Survey.
What Is PMP Certification in the Project Management Profession?
The Project Management Professional (PMP) certification is a widely recognized industry certification for project managers across fields and project management methodologies. PMI, an industry-leading project management organization, offers the PMP certification to experienced professionals who meet certain requirements.
The PMP® credential is also globally applicable, with more than 1.5 million PMP certification holders worldwide. Project management professionals who are already working in the field take an exam to earn their original certification and then maintain it with continuing professional education.
What Should Project Management Professionals Expect From the PMP Exam?
According to PMI, “The PMP certification proves you have the project leadership and expertise in any way of working: predictive, hybrid or agile. It demonstrates your ability to lead projects without being tied to any specific industry or geographic location.” The PMP exam accomplishes this goal by assessing certification candidates for competency across three overarching domains of project management, broken down into highly detailed tasks:
- People — 14 tasks; 42% of test items
- Process — 17 tasks; 50% of test items
- Business Environment — four tasks; 8% of test items
Within these core domains of project management, the 230-minute exam includes 180 multiple-choice questions. Portions of the exam reflect domains and principles outlined in the PMI’s A Guide to the Project Management Body of Knowledge (PMBOK), along with other project management sources of reference.
What Types of Project Management Professionals Should Apply?
PMI designed the PMP certification to gauge project management skills that apply to any industry or geographic location. Project management professionals ranging from senior managers to project management consultants to program managers can apply for and benefit from the PMP certification. Applicants must meet educational and experience eligibility requirements within eight consecutive years prior to taking the exam.
All applicants must have sufficient experience leading and directing projects, as defined in the PMBOK guide. Specific experience requirements vary according to the applicant’s education level:
- High school or secondary school diploma: 60 months / five years of project management experience
- Bachelor’s degree or higher: 36 months / three years of project management experience
- Bachelor’s degree or higher from a GAC accredited program: 24 months / two years of project management experience
Certification candidates must complete at least 35 hours of approved project management education and training. Project management professionals can also meet this requirement through earning PMI’s CAPM certification, completing PMI-authorized PMP exam prep or taking an instructor-led PMP course. Core project management coursework in GAC-accredited programs such as Florida Tech’s online MBA in project management is pre-approved to meet the education requirement.
How Can I Obtain the PMP Certification?
Your first step to obtaining the PMP certification is to ensure you meet education and experience requirements and are eligible for certification. The next step is to document your experience and education and apply for the exam.
After you apply and verify your application acceptance, you will schedule your exam and pay the required fee ($675 for non-members and $425 for PMI members). PMI notes that adequately studying and preparing for the exam is critical for success. A comprehensive project management education provides excellent exam prep.
Finally, you can take the exam, either in person at a testing center or online. If you do not pass the exam, you can retake it up to two times within one year from your initial eligibility acceptance. After this one-year eligibility period, you must wait another full year to reapply and retake the exam.
What Are the Benefits of the PMP Certification in the Project Management Profession?
With a PMP certification, you indicate to your industry that you understand globally recognized project management practices. This provides several specific benefits, including:
- Access to a network of other professionals and experts across the globe
- Significantly higher salary potential
- Increased project success from your expanded knowledge base, which benefits you and your organization
- Access to new opportunities in your field, as certain jobs may only be available to certified professionals
How Do PMP Professionals Maintain Certification?
A PMP certification cycle lasts for three years. To maintain certification, you must pay a certification renewal fee and earn 60 professional development units (PDUs) during each three-year cycle. Generally, these hour-long PDUs provide you with training or other support in your project management role and can include options such as:
- Learning through various channels
- Volunteering
- Presenting
- Teaching
- Reading pre-approved content
- Creating content
Topics may cover leadership, technical project management or business and strategic management. As you maintain your certification, you should assess where your strengths and opportunities are to focus your professional development on the areas where you need to grow.
Prepare for the PMP Certification With an Online MBA in Project Management
The PMP is a rigorous exam, and one of the best ways to prepare yourself is to enroll in a specialized degree program. An MBA with a project management concentration such as Florida Tech’s can help teach you fundamental project management concepts you’ll need to know. Florida Tech’s GAC-accredited online MBA in project management also includes pre-approved coursework to make sure you meet the PMP education requirements.
Additionally, Florida Tech’s program provides you with a comprehensive foundation of business management knowledge and skills. The PMP certification exam’s new focus on the business environment domain reflects how important business management expertise is for the modern project management professional. Through earning a specialized online MBA from Florida Tech, you can prepare yourself for the PMP certification and a high-level, successful career in project management.
Learn more about the online MBA in project management program from Florida Institute of Technology.
