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Prof. Te Wu, PMP, PgMP, PfMP, ITIL
CEO PMP Advisory LLC
Assistant Professor Montclair State University
Email: [email protected]
Phone: 201.688.0680
A Sensible Guide to a Career in
Project Management
PMINJ Chapter
May 4th Symposium 2015
Prof. Te Wu, PMP, PgMP, PfMP, ITIL CEO PMO ADVISORY LLC
ASS ISTANT PROFESSOR MONTCLAIR STATE UNIVERS ITY
PMI, PMBOK, PfMP, PgMP, PMP, CAPM, PMI-PBA, PMI-ACP, PMI-SP, and PMI R.E.P. are registered marks of Project Management Institute, Inc.
Agenda
o Why project management?
o What is the current state of PMI and its certifications?
o What does a project management career ladder look like?
PROPRIETARY AND CONFIDENTIAL 3
Agenda
o Why project management?
o What is the current state of PMI and its certifications?
o What does a project management career ladder look like?
PROPRIETARY AND CONFIDENTIAL 4
“Most organizations are not facing shortages of ideas, even good ideas, they are starving for positive outcomes. Project management is the discipline that achieves results!”
TE WU
PROPRIETARY AND CONFIDENTIAL 5 05/04/2015
The impact of project management is high
oAccording to PMI1, there will be 15.7 million new project management roles created globally between 2010 and 2020.
oPMI anticipates the economic footprint of the profession to be $6.61 trillion USD. ◦ Putting this in perspective, the US economy is
about $16.8 trillion2.
PROPRIETARY AND CONFIDENTIAL 6 05/04/2015
The current state of strategy implementation is poor
PROPRIETARY AND CONFIDENTIAL 7
or 9 out of 10 strategic implementations fail1 90%
of survey respondents believe business execution is extremely important or the most important to their organization2
47%
Rate of successful strategy implementation; astonishingly low3
10-30%
of 400 global CEOs found that executional excellence is the #1 challenge facing business leaders4
400
05/04/2015
Project management is the discipline of choice
For responding to increasing change due to:
1. Competition: globalization and technology advancement are primary drivers.
2. Complexity: regulation, sustainability concerns, greater awareness on the social impact of change.
Project management has been proven as an effective discipline in getting complex initiatives done!
PROPRIETARY AND CONFIDENTIAL 8 05/04/2015
Project management skills can be applied everywhere
o Day to day examples: ◦ Working on HR initiatives
◦ Developing and executing a marketing plan
◦ Managing initiatives in supply chain
◦ Coordinating legal work – legal project management (LPM)
o Leading major initiatives: ◦ Information technology projects
◦ Construction work
◦ Healthcare initiatives
◦ Enterprise resource planning
o Executing strategy: ◦ Aligning business strategy with execution
◦ Prioritizing initiatives
◦ Balancing risks with rewards
PROPRIETARY AND CONFIDENTIAL 9 05/04/2015
Plus, PM compensation is highly attractive
PROPRIETARY AND CONFIDENTIAL 10
Major Average Starting
Salary in 2015 5, 6 Project Manager (estimated) $58,178
Management Information Systems $55,843
Logistics /Supply Chain $53,024
Finance $52,788
Accounting $51,475
Business Administration / Management $51,196
Sales $50,200
Marketing $49,419
In “10 High-Paying Flexible Jobs” in Forbes, senior project managers in IT top the list at $99,700 a year on average. 6
05/04/2015
Agenda
o Why project management?
o What is the current state of PMI and its certifications?
o What does a project management career ladder look like?
PROPRIETARY AND CONFIDENTIAL 11 05/04/2015
“It’s not enough that we do our best; sometimes we have to do what’s required.”
WINSTON CHURCHILL
PROPRIETARY AND CONFIDENTIAL 12 05/04/2015
How many active credential holders? 8
PROPRIETARY AND CONFIDENTIAL 13 05/04/2015
What is the over growth of PMI? 9
14 05/04/2015
What is the approximate certification growth rate? 10
PROPRIETARY AND CONFIDENTIAL 15
Certification
Name
Start
Date
# of
Credential
Holders on
Start Date
# of
Credential
Holders in
March 2015
Average
Annual
Increase
CAPM Nov-06 1,438 27,478 42%
PMP Nov-06 206,774 648,485 15%
PgMP Dec-10 492 1,191 23%
PfMP* Dec-13 162 191 14%
PMI-ACP Dec-12 1,611 7,528 99%
PMI-RMP Dec-10 516 3,055 52%
PMI-SP Dec-10 377 1,284 33%
PMI-PBA Dec-14 182 234 177%
05/04/2015
Agenda
o Why project management?
o What is the current state of PMI and its certifications?
o What does a project management career ladder look like?
PROPRIETARY AND CONFIDENTIAL 16 05/04/2015
“The biggest mistake that you can make is to believe that you are working for somebody else. Job security is gone. The driving force of a career must come from the individual. Remember: Jobs are owned by the company, you own your career!”
EARL NIGHTINGALE
PROPRIETARY AND CONFIDENTIAL 17 05/04/2015
Conceptual Project Management Career Ladder
PROPRIETARY AND CONFIDENTIAL 18
Project Assistant
Project Analyst
Jr. Project Manager
Project Manager
Sr. Project or Program Manager
Program Director
Portfolio Manager /
Director
Entry Level Skilled Expert
Increasing Project • Size and Scope • Complicatedness &
Complexities
Incr
easi
ng
Ind
ivid
ual
•
Exp
erie
nce
•
Kno
wle
dge
•
Net
wo
rk
Time
Acc
ou
nta
bili
ties
• Project Team Member • Project Coordinator
• Project Administrator • Project Team Lead
• Assistant Project Manager • Project Expeditor
• Project Manager I, II • Project Estimator
• Project Manager III • Senior Program Manager
• Head of PM • Chief Project Officer
05/04/2015
Mapping PMI Certifications
PROPRIETARY AND CONFIDENTIAL 19
Entry Level Skilled Expert
• Certified Associate in Project Management (CAPM)
0 – 4 Years 5 - 10+ Years 10 - 20 + Years
Stag
e Fo
cus
PM
I Cer
tifi
cati
on
s Ti
me
• Project Management Professional (PMP)
• Agile Certified Practitioner (PMI-ACP)
• Professional in Business Analysis (PMI-PBA)
• Risk Management Professional (PMI-RMP)
• Scheduling Professional (PMI-SP)
• Program Management Professional (PgMP)
• Portfolio Management Professional (PfMP)
• Organizational Project Management Maturity Model (OPM3)
05/04/2015
PMI Certification Requirements
PROPRIETARY AND CONFIDENTIAL 20
# Name Acronymn Secondary Degree Advanced DegreeAdditional Education or
Experience Requirement
1
Certified Associate
in Project
Management
CAPM 1,500 hrs of project experience Not Required 23 hours of education
2Project Management
ProfessionalPMP
Five years of project management
experience + 7,500 hours leading and
directing projects
Three years of project management
experience + 4,500 hours leading and
directing projects
35 hours of project
management education
3
Program
Management
Professional
PgMP
Four years (6,000 hours) of project
management experience + Seven years
(10,500 hours) of program management
experience
Four years (6,000 hours) of project
management experience + Four years
(6,000 hours) of program management
experience
4
Portfolio
Management
Professional
PfMP
Seven years (10,500 hours) of portfolio
management experience within the past 15
consecutive years
Four years (6,000 hours) of portfolio
management experience within the past 15
consecutive years
Eight years (96 months)
of professional business
experience
5PMI Professional in
Business AnalysisPMI-PBA
7,500 hours or 5 years working
as a practitioner within the last 8 years +
2,000 hours of project experience, which
can be inclusive of the 7,500 hours above
4,500 hours or 3 years working
as a practitioner within the last 8 years +
2,000 hours of project experience, which
can be inclusive of the 4,500 hours above
35 hours of training in
business analysis
6PMI Agile Certified
PractitionerPMI-ACP
Training: 21 hours in agile
practices
7
PMI Risk
Management
Professional
PMI-RMP
4,500 hours of project risk management
experience +
40 hours of project risk management
education
3,000 hours of project risk management
experience +
30 hours of project risk management
education
8PMI Scheduling
ProfessionalPMI-SP
5,000 hours of project scheduling
experience +
40 hours of project scheduling education
3,500 hours of project scheduling
experience +
30 hours of project scheduling education
General: 2,000 hours working on project teams within the last 5 years. Active PMP® or
PgMP® will satisfy this requirement.
Agile: 1,500 hours working on agile project teams or with agile methodologies within
the last 3 years.
05/04/2015
PMI Certification Exam Information
PROPRIETARY AND CONFIDENTIAL 21
# Name AcronymnScored
QuestionsPre-Test Total
Allocated
Time for
Exam
Seconds /
Question
Language
Aid
(Languages)
Exam Fees for CBT
(Member/Non-
Member)
Re-Exam Fees for CBT
(Member/Non-
Member)
CCR Renewal
(Member/Non-
Member)
1
Certified Associate
in Project
Management
CAPM 135 15 150 3 72.0 13$225 or €185 / $300 or
€250
$150 or €125 / $200 or
€170
$225 or €185 / $300 /
€250
2Project Management
ProfessionalPMP 175 25 200 4 72.0 13
$405 or €340 / $555 or
€465
$275 or €230 / $375 or
€315$60 / $150
3
Program
Management
Professional
PgMP 150 20 170 4 84.7 1$800 or €655 / $1,000
or €815
$600 or €490 / $800 or
€655$60 / $150
4
Portfolio
Management
Professional
PfMP 150 20 170 4 84.7 1$800 or €655 / $1,000
or €815
$600 or €490 / $800 or
€655$60 / $150
5PMI Professional in
Business AnalysisPMI-PBA 175 25 200 4 72.0 1
$405 or €340 / $555 or
€465
$275 or €230 / $375 or
€315$60 / $150
6PMI Agile Certified
PractitionerPMI-ACP 100 20 120 3 90.0 1
$435 or €365 / $495 or
€415
$335 or €280 / $335 or
€330$60 / $150
7
PMI Risk
Management
Professional
PMI-RMP 150 20 170 3.5 74.1 1$520 or €430 / $670 or
€555
$335 or €280 / $435 or
€365$60 / $150
8PMI Scheduling
ProfessionalPMI-SP 150 20 170 3.5 74.1 1
$520 or €430 / $670 or
€555
$335 or €280 / $435 or
€365$60 / $150
Number of Questions & Time Analysis
05/04/2015
What are the skills required for project managers?
PROPRIETARY AND CONFIDENTIAL 22
i. General Business
1. Communication 2. Engagement Management 3. General Business Knowledge 4. Information Management /
Sharing 5. Leadership 6. Organization Savvy 7. Personal Relationships 8. Product & Service
Knowledge 9. Project Management
(General) 10.Project Management
(Process) 11.Research & Analysis 12.Teamwork
ii. Discipline Specific
1. Project Management (Specialized Knowledge Areas)
2. Program / Portfolio Management (Operating) 3. Program Management (Establishing & Leading) 4. Portfolio Management (Establishing & Leading) 5. Business Process Design 6. Business Analysis 7. Execution Planning & Management 8. Managing Implementation Vendors 9. Product Management
iii. Organization
1. Human Development 2. Methodological Development 3. Cultural Change 4. Knowledge Management
05/04/2015
How about behavior and attitude?
PROPRIETARY AND CONFIDENTIAL 23
i. Attitude
• Appreciative • Communicates
proactively and honestly
• Confident, but not overbearing
• Assertive, but not overly-aggressive
• Flexible with schedule and approach
• Helpful • Pleasant and
upbeat • Willing to go
the extra mile
ii. Behavior
• Always seeks opportunities to improve oneself and the department • Applies oneself to solving tough problems • Goes the extra mile to understand things from another perspective • Reacts constructively to change and evolution • Seeks feedback and assistance when required • Receives feedback constructively • Always remains as objective as possible • Works constructively even when outside the comfort zone
iii. Cultural Characteristics
• Prioritizes the general (company) interest over individual interest • Prefers doing the right thing above other concerts • Eager to consult with and help others within the company • Flexible with approaches, processes, methods, and tools • Clearly defines RACI • Promotes collaboration, teamwork, and shared accountability • Encourages company to embrace positive change
05/04/2015
Managing Continuing Certification
o PMI is continuously looking for ways to enhance the profession and stay close to the needs of business and industry.
o Recently, it announced an overhaul of the CCR (Continuing Certification Requirement) that now enforces greater instructor-led / expert-led training over other types of training.
o The new framework, called the PMI Talent Triangle, divides continuing learning into three parts: ◦ Technical Project Management – The “HOWs”
◦ Strategic and Business Management – The “WHYs”
◦ Leadership – The “WHATs”
PROPRIETARY AND CONFIDENTIAL 24 05/04/2015
Questions
PROPRIETARY AND CONFIDENTIAL 25 05/04/2015
References
1. Speculand, R., (2009). Six necessary mind shifts for implementing strategy. Business Strategy Series, 10, (3), 167-172.
2. “Strategic Business Execution Survey”, August 15, 2014, PMO Advisory LLC.
3. Raps, A., (2004). Implementing strategy. Strategic Finance, 85(12), 48-53.
4. Sull, D., Homkes, R., & Sull, C., (2015). "Why strategy execution unravels - and what to do about it." Harvard Business Review, 93(3), 57-66.
5. To determine the 2015 salary, I used average starting salary increase from National Association of College and Employers (NACE). According to NACE, the average increase was 1.2% from 2013-2014. See https://www.naceweb.org/s04022014/starting-salary-class-2014.aspx. The average increase from 2014-2015 is 5.3 person; see https://www.naceweb.org/s04172013/average-starting-salary.aspx.
6. Top-Paid Business Majors at the Bachelor’s and Master’s Levels, February 18, 2015, National Association of Colleges and Employers. URL: https://www.naceweb.org/s02182015/top-paid-business-majors-2015.aspx
7. 10 High-Paying Flexible Jobs, January 15, 2013, Forbes. URL: http://www.forbes.com/sites/jacquelynsmith/2013/01/15/10-high-paying-flexible-jobs/
8. PMI Fact File, March 2015, PMI Today, Project Management Institute Inc.
9. Calculated from PMI Fact File
10. Wu, T., (2015). The Sensible Guide to a Career in Project Management, May 4, 2015, PMO Advisory LLC.
PROPRIETARY AND CONFIDENTIAL 26 05/04/2015
Contact Information
o Contact Info: ◦ Email: [email protected]
◦ Phone: 201.688.0680
◦ Connect with Te Wu: www.linkedin.com/in/tewu1
o The Sensible Guide to a Career in Project Management in 2015
◦ Amazon.com
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• Print: $15.99