In recent years, careers in project management have increased drastically alongside the industry’s fast-growing needs. Clients often require PMPs to handle their projects and request employers to do the same. Even the most experienced project manager has a PMP credential, which raises the question; what is PMP? PMP acts as a credential for project managers; namely Project Management Professionals awarded by PMI (Project Management Institute). PMPs are globally recognized and demanded their skills, standards and successful project completion rate. PMP Certification has become a must-have credential nowadays. Today, most of the companies are engaged in hiring certified PMs for their firm because the firms have realized the significance of certification as it helps to expand and develop their business. Basically, PMP enables you to manifest better performance as you are exposed to new technology and new tricks that would assist you in managing the projects. PMP exam has set high standards that will help you to acquire an actionable set of best practices. PMP i.e. Project Management Professional certification is one of the significant certifications in business. PMP certification enables you to procure a validation of your comprehensive knowledge and experience in whichever industry you work with. PMP certification helps you to obtain skills to handle and manage a project professionally and efficiently producing optimum results at its pinnacle. Every industry insists on employing PMP certified professionals as the demand for them in all industries is very high. Let’s find out how popular PMP certificates are.
Industry demand for PMP professionals
In developing economies like India and China, a huge requirement prevails for Project Management Professionals in the sector of information technology and manufacturing respectively. China hasn’t effectively implemented project management processes in their industries. This forces local industries and global Chinese companies to have it integrated into lieu to comply with the demands of the global patronage. In countries still recovering from the global meltdown, there is an increased need for Project Management Professionals to think strategically and deploy projects effectively to ensure higher success rates of projects undertaken. As global demand for project managers continues to grow at a rapid pace, it is essential to know the demand for PMP certified professionals in every industry.
Industries with a growing demand for Project Management Professionals
The healthcare sector is growing at a steady pace of 10-15% and is emerging as one of the major sources of project management activity. Improving the service standard while cutting costs is the main focus of this industry. The demand for PMP certified professionals is very high as this sector needs professionals who can provide efficient service while helping to lower the costs incurred. Managing both simultaneously can be challenging which is where the need for PMP professionals arises.
- Information Technology
Tech remains a powerful job engine with no signs of slowing down any time soon. Project management as a principle has seen rapid growth and development in this industry. In fact, major reputed I.T corporations are providing PMP onsite boot camping training in order to meet the demand for professional project managers. The need for professional project managers has increased at a rate of 20% in recent years. As the companies take on an abundance of employees from various cultural backgrounds, a strong need for project managers endures with a standardized set of skills to undertake project management and to turn their strategic vision into tangible goals and produce the effective output.
In the engineering industry, more than 75% of projects have schedule overruns, 55% of them have budget overruns and around 37% fail to accomplish their goals. The primary reason for these pitfalls is the short supply of project managers who lack professional training and experience. PMP certified project managers can revive the industry by providing their professional expertise to the projects thereby helping the industry evolve.
The construction industry is expected to evolve by more than 70 percent to 15 trillion U.S dollars by 2025, and it will be concentrated in three countries; namely China, the United States, and India. The Asian continent primarily lacks the supply of PMP certified project managers. Project Management processes are immature in these geographies. India is a country where population growth has outpaced the growth of its infrastructure, due to which there is a shortage of professionals; and this demand will go up to 3 million professionals by 2022. The country is in dire need of approximately 1 million highly skilled project managers to fill gaps in massive construction projects that require elevated degrees of independence and compound regulatory compliance.
With technology and workload increasing at a rampant pace, the need and demand for professional project managers have increased simultaneously. The scope and importance of PMP certified project managers have drastically increased in every industry. Efficient outputs need to be produced in order to secure the industries’ success rates. This can be accomplished by hiring professional project managers who hold a PMP certificate. Improper management will always lead to failure and closing down of business corporations. This can be avoided by employing skilful PMP certified managers who can handle the job professionally.
PMP is a certification which is applicable to all industries and has huge scope and bright career prospects. The demand for Professional Managers with this additional qualification under their cap, is rising rapidly.
So, don’t wait! Turn this demand to your favour and get PMP certified today, with Analytixpro!