Project managers are currently in high demand, and companies are very much willing to pay for these qualified talents. To put it simply, project managers are professionals who plan, organise, and execute projects while working within various restraints, such as schedules and budgets. They are responsible for leading projects from their inception to their execution. As such, it is important for a project manager to be knowledgeable and skilled.
These skills can be acquired through experience and by participating in various funded project management training programs. If you want to excel as a project manager, you should obtain the Project Management Professional (PMP) certification. In today’s fast-paced corporate world, having a PMP certification comes with substantial advantages over other job candidates.
Read on to find out what you can do with a PMP certification in Singapore.
What is a PMP certification?
The Project Management Professional (PMP) is a type of project management certification that demonstrates an individual’s capability in supporting and leading teams during projects. It is an essential certification that is recognised in project management around the world. With a PMP certification, you can work as a project manager in numerous industries. If you wish to apply for a PMP certification, you may be required to do the following:
– To have a secondary degree, bachelor’s degree, or master’s degree
– To complete a minimum of 7,500 hours of directing and leading projects
– To complete at least 35 hours of education in project management
That said, you can still obtain a PMP certification with these requirements:
– Have a four-year bachelor’s degree
– Complete a minimum of 4,500 hours of directing and leading projects
– Complete at least 35 hours of education in project management
The advantages of having a PMP certification
There are plenty of benefits that come with having a PMP certification. For one, according to a report published by the Project Management Institute, employees across the Asia Pacific who hold PMP certifications earn 13% higher median salaries than those without the certification. This makes certification and expertise in the area of project management specifically important.
As part of their job, project managers are required to take the lead on every project they are assigned to. They must make quick decisions, from the conception of ideas to the execution of plans in order to guide the entire project toward success. For this reason, project managers must have an agile mindset, as it will provide them with the critical trait to handle unforeseen circumstances and make reasonable decisions within a limited time.
To prove that you have an agile mindset and are capable of leading a project to success under pressure, it is highly advisable that you obtain a PMP certification. Designed by project managers for fellow project managers, the PMP certification is a globally recognised certification, which proves that a certified project manager has the capability to lead projects for any company and in any industry.
Top industries with a demand for PMP certifications
Some of the major industries where the PMP certification is currently in demand are as follows:
– Engineering: In the engineering sector, over 55% of projects have budget overruns, 75% have schedule overruns, and 37% are unable to meet their objectives. The main reason for these drawbacks is a short supply of project managers who are equipped with professional experience and training. Project managers with PMP certifications can save the industry by adding professional experience to different projects.
– Information Technology: Project management has seen fast development and growth in the information technology industry. As a matter of fact, leading IT companies around the world are now providing their employees with onsite PMP bootcamp training in order to help retain their staff and meet the increasing demand for project managers. In recent years, the need for qualified project managers in the IT sector has risen by 20%.
– Finance: Project managers with management and risk identification skills are also in high demand in the finance sector. From managing mergers and acquisitions to keeping track of stock underwriting, project managers with PMP certifications will become vital decision-makers in banking, insurance, and other financial services.
– Healthcare: The healthcare industry is currently expanding at a steady pace of 10% to 15% and is increasingly becoming one of the major sources of project management activities. To effectively handle these activities, the healthcare sector will need efficient and skilled project managers with PMP certifications.
– Aerospace and Defence: Aerospace manufacturing companies around the world are increasingly embracing project management processes to attain their project objectives. As such, certified project managers are in demand in this industry and are required to determine key tasks, devise strategic goals, and track progress to reach milestones. With stringent and intricate regulations followed in the aerospace sector, a certified project manager is a necessity.
Conclusion
As project management processes become more and more indispensable in the business world, companies are in dire need of project managers who have the ability to make wise decisions under pressure and lead projects to guaranteed success. To improve your project management experience and skills and show employers that you are a capable project manager, it is important that you obtain a PMP certification, as it will assure companies of your qualifications and make you stand out from other job candidates.
Give your project management career a boost now by signing up for our project management courses at BridgingMinds! As a leading education provider that is dedicated to giving our students life-long learning and skills, we deliver premium courses that bridge the knowledge gaps of organisations and professionals, thereby allowing them to become more competent and successful in achieving their aspirations. To find out more about our courses and certifications, such as PMP Certification, SF – ITIL® 4 Foundation, CISSP online training, and funded CEH course, feel free to contact us anytime.
