Project management is a skill that has always been in demand because of the scale and complexity of projects. Learn all about improving your career prospects with a PMP® certification.
PMI’s report on the growing demand for PMP® credential holders
PMI® conducts research every year to forecast the requirements for Project Managers in the industry. They do the Project Management Professional® exam, and their annual reports showcase the growing demand for individuals in that sector of expertise.
According to the 2014 report released by PMI®, there will be a high demand for project manager professional practitioners. The need would be in terms of:
- Opportunities Offered
- Skills required
- This demand would also depend on several factors.
- Industry Sector
- Geographic Location
There is a high demand for project management professionals in developing economies like India and China. These countries are home to the world’s fastest-growing economies. The development of project management processes requires technical solutions. China’s focus on prioritizing product development created a backlog of innovation and reduced the ability to meet global demands.
There are countries still starting to recover from the global meltdown. Project Management Professionals have the power to design, plan and deploy projects in ways that will help these countries remain stable.
Industries that require Certified Project Management Professionals.
- Energy
Today, there are many non-renewable energy projects worldwide, which has led to more extensive discussions about this matter.
- Solar energy
- Wind energy
- Geothermal energy
The demand is growing for project professionals in these areas.
Even though some people say that we should give up on traditional energy sources, discoveries in oil and fossil fuel extraction technology have led to some large-scale projects being undertaken.
Example: The untapped oil field has been recently discovered in Brazil. There’s potential to make it one of the biggest oil producers, but Brazil lacks a skilled workforce and project management professionals. A company is importing these project management professionals in hopes of filling that gap.
- Healthcare
The main focus area of this industry is improving care and lowering costs. In the United States, the Patient Protection and Affordable Care Act has spurred competition in the insurance sector, forcing companies to innovate to win customers. The need to cut costs, increase efficiencies, and enhance customer experience will be essential for private insurers.
CIO Insight says that project managers with strong IT skills will find many opportunities in complicated healthcare projects that use mobile devices, social media, and data analytics to unify service across multiple channels.
By 2017, it is expected that mobile healthcare will generate revenue of USD 23 billion. By capturing and analyzing health data, project managers with experience in the following will be in much demand.
Software Development lifecycle
Large scale budget management
Cross-functional projects
This trend is not just limited to developed economies but also developing economies like South Asia, Africa, and America. The middle class is demanding better healthcare facilities.
- Construction
The construction industry is expected to increase to US$15 trillion by 2025, with China, the United States, and India accounting for three-quarters of the forecast.
The job market in Asia is the place for people looking for Project Management prosperity. India, whose population growth has outpaced the expansion of its infrastructure, needs professionals, and there will be a shortage by 2022. The country needs approximately 1 million skilled instructors by that time, and they can create many jobs.
- Information Technology
Technology takes the dominant position in job growth across the United States. IT services and clerical support positions are being replaced by technology jobs in emerging markets.
Now that corporations are taking on multiple workers from diverse backgrounds, they require project managers with standardized skills to undertake system reorganizations and turn strategic vision into a tangible goal, productive output.
IT project managers need to have:
- Capable of understanding the political culture and principles of the organization they work for
- Can think and act strategically
- Expertise in architecture led Project Management
Countries with high demand for Project Management Professionals
- Canada – The number of new project management roles is expected to increase by 583,344 by 2020.
- Brazil – Brazil’s 10-year energy plan will attract a 133 billion US dollar investment. Almost TWO-THIRDS of Brazilian employers report that they can’t find enough workers with the right skills. More than 1.3 million new project management roles are expected to be needed by 2020.
- North Sea – Deep-sea oil drilling in the North Sea will create 50,000 new jobs within three years. By 2030, the North Sea will require 100,000 more people with degrees in Finance and Project Management.
- Germany – The country will need more than 1.6 million new project management roles.
- India – India is looking to develop the US$100 billion Delhi-Mumbai Industrial Corridor to create new jobs and boost economic growth.
- China – China has the world’s most extensive high-speed rail system, with 10,463 kilometers (6,501 miles) of tracks planned for completion by 2015 and 120,000 kilometers (74,565 miles) completed by 2020 and is expected to continue to reach 70,000km (43,000 miles) by 2035.
- Australia – The Australian economy is growing because of its large number of LNG projects worth more than $200 billion. Companies in Australia need to hire Project Managers at higher salaries to make up for the shortage of workers in Australia.
How will a PMP® Certification help you land your dream job?
Suppose you are managing large and complex projects. In that case, a PMP® Certification helps you learn how to plan, manage, and monitor progress leading towards meeting your goals with optimized utilization of time and resources.
PMP® Certification is a valuable credential for career advancement in the project management profession. This is how?
1. PMP® Certification makes a solid asset to your resume.
Many people are certified in the PMP® Certification, and companies typically hire PMP® holders more often than candidates without this Certification. If you’re new to Project Management, add this Certification to your resume, and it will help you increase your chances of getting a job offer.
2. Professional relationships
Become a member of your local PMI Chapter. You’ll learn more about Project Management and become part of the network through the meetings. You’llYou’ll get to participate in professional discussions where you’ll meet others in your industry who are also certified, project managers.
3. Get familiar with a common global language
Gain proficiency in the global standard language of Project Management with a PMP® Certification. This Certification provides you with a time-tested and robust framework that helps improve your communication skills. Identifying and overcoming problems within an organization also makes them more employable.
4. Certified Project Managers are most often sought after
Companies always try to find professionals with the skills and knowledge to handle the projects they’rethey’re dealing with, so they can react quickly. There is a continual demand for PMP® certified professionals, which leads to high demand for this credential.”
5. PMP® Certification helps you build skills and validate your experience
Employers hold higher esteem for the requirements required to sit for a PMP® Certification exam. The candidates must meet a certain level of education and work experience to apply.
When a recruiter sees a PMP® Certification on your resume and looks into it, he learns you went through a lot of work to qualify for the position.
What does the PMP® Certification do for your career?
Many jobs require managing large pieces of work as a project management professional who manages projects. To be a PMP® certified professional with the right set of knowledge and skills, you can plan, manage and monitor the progress of the projects, which results in meeting your goals at the right time.
By equipping yourself with project management skills, you can ensure you meet all deadlines. Getting involved in the right way will put you to use as a resource by an organization and prove to be a perfect fit for their team.
Best Career Opportunities for Certified Project Management Professionals
An individual who is part of a project team’s leadership, the project manager, works closely with those on the team to successfully execute and meet deadlines successfully.
Project Managers often work in the following industries.
- Engineering
- Construction
- Architecture
- Telecommunications
- Computing.
People with PMP® Certification can take advantage of many different career options. Here are a few of the careers that people have followed:
Associate Project Manager: It is an entry-level position that allows you to learn more about project management to be more successful.
Assistant Project Manager: You can work as a contract manager to focus on other tasks in your job without having to take on the responsibilities of a full-time project manager.
Contract Project Manager: You will have the opportunity to work with clients, or you can find a new option in the infrastructure of a company.
Product Manager: Working at this company, you must focus on a specific product. You can perform many different tasks in this position like promotions and manufacturing.
Information Technology (IT) Project Manager: This position involves working with computers and servers. It also entails building new computer systems and maintaining existing ones.
Construction Project Manager: When working as a project manager in the construction industry, you are expected to manage and supervise the construction projects.
Project Coordinator: This position focuses on performing tasks that don’t require much expertise, like planning and organization, to aid the project managers.
Software Project Manager: This position is similar to an IT project manager, but it deals specifically with updating software. You would need to oversee current and new software development and improvement in this position.
Also Read – 5 PMP Terms You Need to Know Before having PMP Exam
Here are a few tips for becoming a Project Manager
Know your skills, abilities, knowledge, and values – Become a Project Manager, and it is essential to have the knowledge and skills needed. To prepare for designing, planning, and executing projects, you need to use the tools and keep track of strategies.
Earn your PMP® Certification – PMP® Certification is one of the most recognized project management Certifications globally. It increases your chances for various career opportunities by building multiple skills.
Reach out to the experts – Find a person who can help your career. They should have a project management background and patience to teach you tips and tricks for managing projects.
You will learn project management skills by observing the work of a professional. You can also gain the opportunity to work on actual projects and receive feedback on your performance.
Be prepared for anything that might come your way – As a project manager, you will be in charge of different tasks. It may start with developing project plans and schedules and then move over to training and communication with stakeholders to ensure that the project is successful.
How much does a Project Manager Earn
Project manager salaries vary by designation. Let’s have a look at what a project manager can earn in different countries:
| Designations | Average Income in USD (Per Annum) |
|---|---|
| Associate Project Manager | $58,775 |
| Assistant Project Manager | $58,172 |
| Contract Project Manager | $79,577 |
| Business Project Manager | $83,140 |
| IT Project Manager | $1,342,427 |
| Construction Porject Manager | $86,492 |
| Project Coordinator | $48,319 |
| Product Manager | $102,119 |
| Software Project Manger | $90,152 |
Project Manager Salaries – Company Wise
| Companies | Salary in USD (Per Annum) |
|---|---|
| Wipro | $100.232 |
| HCL Technologies | $110,336 |
| Infosys | $120.256 |
| Cisco Systems | $106.520 |
| Citi | $115.408 |
Project Manager Salary: Skill Wise
Salaries for project managers largely depend on their skills set. Personal and professional development is crucial for finding a good salary.
| Skills Subordinated by Project Managers | Salary in USD (Per Annum) |
|---|---|
| Project Coordinate Skills | $75.65 |
| Project Management Skills | $80.520 |
| Budget Management Skills | $75.450 |
| Client Interaction Skills | $85.650 |
| Microsoft Office Skills | $90.890 |
| Quality Assurance | $70.365 |
| Process Improvement Skills | $75.505 |
Conclusion
I hope you’re ready to take on the world of Project Management Professionals. We know this market is tough, but don’t let that stop you from taking advantage of this unique opportunity for yourself and your future!