Project Management Professional (PMP) is an internationally recognized professional certification offered by the Project Management Institute.
Project management is important to the success of every organization. Industry research indicates that about 74% of all projects suffer setbacks due to over budget or are late. And 28% of these projects fail altogether. Project managers are tasked with successful execution of project by ensuring they are delivered within budget, schedule and scope.
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The PMP exam is based on the PMP Examination Specification, which describes tasks out of five performance domains:
- Initiating the project (13%)
- Planning the project (24%)
- Executing the project (31%)
- Monitoring and controlling the project (25%)
- Closing the project (7%)
The exam consists of 200 multiple choice questions drawn from the PMBOK specification and the PMP Code of Ethics. The exam is closed book; reference materials are not allowed.
The PMP can provide a significant advantage when it comes to salary and earning potential. Respondents to a PMI’s Earning Power Salary Survey, reveals that those with a PMP certification garner a higher salary (23% higher on average) than those without a PMP certification.