Project management is a wide field. Over the years, project management has become more complex and involved technology with new-age software. You must engage in conversation with your peers and maintain current industry knowledge to succeed as a project manager.
A certification can help you achieve these objectives.
This article will give you insights into such two certifications: MPM Vs PMP, provide the difference between them and explain how these credentials may help you become a better project manager.
Understanding Project Management Certifications
Working together to complete tasks within a specified time is essential to project management. A project could involve the building of a house, the construction of a bridge, the development of a website, or even the rescue of victims of a natural disaster.
Completing a project within the allotted time and under financial constraints is the primary concern of project management. The project manager is accountable for supervising the work being done on the project, guaranteeing that it will be finished on schedule, and ensuring that all members of the team are working toward the achievement of the same goals.
To successfully manage a project, the project manager must have a solid understanding of project tracking, communication, and documentation.
Certifications are the proof that required knowledge has been obtained, and they are granted by well-known approved bodies. In project management, having a credential can be extremely beneficial in finding a job. It demonstrates to employers that credential holders are capable of performing the duties required of them.
Some popular authorized institutions issuing the project management certifications are
- Project Management Institute (PMI)
- International Association of Project and Program Management (IAPPM)
- Association of Project Management (APM)
- British Computer Society, The Chartered Institute for IT (BCS)
- International Professional Managers Association (IPMA)
- American Academy of Project Management (AAPM)
What Is MPM?
MPM stands for master’s in project management. A Master of Science in project management is another name for this qualification. Completing this program results in awarding a scholarly certificate and provides the holder with a fundamental understanding of planning and carrying out a project.
This academic degree is something that a person could use to demonstrate to potential employers that they have studied project management for a minimum of two years and are qualified to take on the work.
The courses required for an MPM certificate give basic knowledge of project management.
MPM Requirements
The MPM certification is for entry-level jobs, and the requirements are
An Undergraduate or College Degree
Most universities require an undergraduate degree to apply for the PMP certification program.
Good GPA
Most universities will require a GPA of 3.00 for a person to be eligible.
A Completed Application
This supplies the university with the information it requires about the applicant. It is a procedure that is required by the majority of educational institutions.
Experience
For an MPM certification, some universities ask for less than three years of experience in project management.
Exam Certification Cost
The cost is not fixed. It depends on the university and the college.
What Is PMP?
The abbreviation “PMP” refers to “project management professional.” It is the most well-known project management certification and is frequently referred to as the gold standard.
The certification provides an in-depth understanding of the methodology behind project management.
This certificate can be obtained through the Project Management Institute (PMI). This certification is recognized all over the world. The PMP certification offers its holders better and higher-paying opportunities in project management.
Prerequisites And Exam Certification Cost
Prerequisite A
- A high school certificate
- Minimum of 5 years of professional project management experience
- 35 hours of project management education
Prerequisite B
- A college or university degree
- Minimum of 3 years of professional project management experience
- 35 hours of project management education.
Exam Certificate Cost
The PMP exam fee is 405 USD for PMI members and 555 USD for non-members. The exam has 180 questions, and the duration is 230 minutes.
Advantages Of MPM Certification
Broadens Your Understanding of Project Management
Obtaining the MPM certification will assist you in developing a more thorough understanding of project management.
Increases Your Communication Ability
With the MPM certification, you learn how to become better at communicating and thus be better able to handle projects.
Increases Your Chance of Getting Managerial Jobs
The MPM certificate improves your leadership abilities and capacity to collaborate with others under different circumstances. You will have a better chance of securing a managerial position than those individuals who do not possess the certification.
Advantages Of PMP Certification
It is Recognized all Over the World
The PMP certification is well-known. Having this degree gives you leverage, and you gain international respect.
Showcases Your Dedication and Commitment
You go above and beyond to earn an additional degree. Your PMP credential shows employers you are committed to working hard and producing the finest results.
Improves Your Abilities
A PMP certification expands your knowledge of project management. It aids in keeping up with the most recent and efficient methods of handling a project.
Provides More Opportunities
If a person has a PMP certification, their employment prospects will be much greater. The Project Management Professional (PMP) certification will put you in a better position to take advantage of the growing opportunities, as an increasing number of companies are looking for project managers.
Increased Salary
The PMP certification is the industry standard in the rapidly expanding project management profession. Many surveys show that a PMP certification holder earns, on average, 20% more salary than others.
PMP Vs MPM: Demand And Mean Salary
MPM Demand
In contrast to the PMP certification, the MPM certification is not as in-demand as the PMP certification. On the other hand, this credential gives the possessor an edge over those who do not have it.
Those with a background in engineering or technology are more equipped to succeed in the MPM certification exam. Technical and engineering occupations demand project management, and if you have a background in engineering, earning a master’s degree in project management will enhance your profile and make you more marketable to employers.
MPM Mean Salary
The mean salary for a person with an MPM certification is about 86,700 USD annually. Annual salary will vary, and this variation will depend on a person’s experience level.
PMP Demand
The industry has criteria for those who hold the PMP certification. Going forward, this demand will rise. The Bureau of Labor Statistics projects that there will be a 6% rise in demand for PMP certification within the next five years, which will occur in 2024.
Project management is becoming increasingly valuable to businesses, as evidenced by the proliferation of job postings each year in this field. These days, the PMP certification is usually listed as the primary requirement for project management jobs.
The Project Management Institute (PMI) forecasts that in the not-too-distant future, 2 million new roles will be available in project management.
PMP Mean Salary
The mean salary for this certification is about 113,554 USD. Variations in annual salary earned are determined by a person’s level of experience and educational background.
Comparison Between PMP and MPM
Similarities
- Both certifications will require minimum prior education.
- Both certifications help you advance your career in project management.
- Both certifications will require an exam.
- Both certifications provide more job opportunities.
Differences
Summary
In project management, having either qualification is beneficial; more significantly, they do not contradict or compete with one another. You can pursue MPM if you are a recent college graduate without relevant work experience and aim to establish a career in project management. After you have completed the MPM program, you should seek some experience before applying for the PMP certification. Your professional standing in project management will improve as a result of this.
I am Mohammad Fahad Usmani, B.E. PMP, PMI-RMP. I have been blogging on project management topics since 2011. To date, thousands of professionals have passed the PMP exam using my resources.
