PMP certification is to imply that the candidate understands the global language of project management and relates to a community of professionals, organizations, and experts worldwide. PfMP certificate identifies advanced experience, skill, and performance necessary to achieve and follow a portfolio of projects and programs to deliver organizational strategy and objectives.
PfMP certification holders oversee one or more portfolios' success, balance conflicting demands between programs and projects, and allocate resources based on corporate priorities and capacity.
Target Audience for PfMP Certification
This standard provides a foundational source for anyone interested in managing or evaluating a portfolio of programs, projects, and related operations.
This involves, but is not limited to:
- Senior executives and governance boards who make decisions concerning organizational strategy; Management staff responsible for developing a corporate approach or those making suggestions to senior executives;
- Portfolio, program, and project management practitioners, especially portfolio managers;
- Researchers examining portfolio management;
- Members of a portfolio, program, or project management office;
- Consultants and other specialists in the portfolio, program, or project management and associated disciplines;
- Business and technical professionals such as auditors, trainers, engineers, and others who are regularly asked to maintain a portfolio of programs, projects, and operational activities;
- Operations managers, organization assembly managers, civil engineers, construction managers and constructors of large or mega projects, and process owners who have financial, human, marketing, material resources, or supply chain problems in a portfolio;
- Portfolio, program, project, and operational team members, customers, and other relevant stakeholders;
- Approach planners and managers in organizations;
- Educators developing portfolio management and related subjects; and
- Students of portfolio management and related fields.
Why Is PMI Portfolio Management Important?
According to the Project Management Institute, “Our research has revealed that portfolio management is a way to connect the gap between policy and implementation.”
In other words, it is the job of the portfolio manager to guarantee the best projects are being done at the right time to maximize the company’s investment. This is especially relevant in an organization with a lot of private projects. Ideas for projects can come from anywhere, at any time, and it is common for a business to have a long list of possible projects to develop.
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| Obtaining the PMI PfMP Certification: A Good Career Decision |
However, there usually is not sufficient time, money, or resources to do them all right away. Portfolio management is essential to understand which ones will have the most considerable beneficial impact on the company and prioritize the projects accordingly.
The main benefits of portfolio management are:
- It presents alignment between company objectives and projects.
- It takes the personal preference out of project planning, so there are no pet projects.
- It makes decision-making easier around project conflicts.
- It serves the project management office or portfolio manager to turn down projects that are not aligned with business priorities.
- It emphasizes the value of focusing on the long-term, big picture.
- It builds governance and failure into the management of projects.
However, should it be fully adopted, the PfMP certification can be considered the most advanced project management designation offered by PMI. It is held for individuals actively involved in managing portfolios. Portfolios, by PMI's definition, are compilations of programs designed to achieve overall strategy and objectives.
Value of PfMP Certification
Why people do certification? There can be many reasons and each to his own. We meet many practitioners who do their certification training with us and, therefore, get a good idea of why many do their certifications. Most of them want to change their jobs and see the certificate as a great catalyst. And indeed so - the demand for the certification increases as employers see value in the certification. There are other reasons as well, such as Proof of Professional achievement.
Many do the PfMP certification to gain respect in project management circles. It also gives a cutting edge in the space of project management. Many employers see this as a vital asset or knowledge in the organization. However, one thing for sure; it increases your confidence as a Project professional.
As a Portfolio Manager, you are better equipped to handle and manage your portfolios with this knowledge, and you know what, this rubs on your customer and stakeholders. And they start putting a lot of trust and confidence in you, and it becomes a vicious cycle, thereby taking stakeholders along with you to achieve the portfolio objectives.
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