5 Benefits of Project Management Qualifications

Project management is an essential function for any organisation no matter what industry. To become a project manager, there are various types of project management certifications available to achieve, with training available through project management courses online or in a classroom. Although you can succeed in a project management role without a project management degree or qualification, the benefits of project management certifications are clearly evident…

The benefits of project management training

1. Widely recognised

Photo credit: fizkes / Shutterstock

There are a range of different project management courses available that are not only recognised in the UK but worldwide too. The two best project management courses held in high regard by employers around the world are said to be Project Management Professional (PMP)® by the Project Management Institute (PMI) and PRINCE2® provided by AXELOS.

It doesn’t matter whether you are interested in finance, technology or commerce; one advantage of a project management accreditation is that it can assist you in every field, giving you a competitive edge over other employees – particularly in the recruitment process. Businesses looking to hire a project manager tend to specifically look for potential employees with certifications because they show the candidate has an understanding of the most common project management tools, techniques and frameworks, so it is worth thinking about applying to training courses if you haven’t already.

2. Higher project success rate

Photo credit: Flamingo Images / Shutterstock

Project management training courses provide many valuable lessons, from enhancing individual skills, to introducing new tools that can make the management process smoother. Because of this, firms actively look for potential employees with a project management certification, as they are more likely to manage projects effectively with a high success rate. The range of skills and techniques learned from courses leave project managers ready for uncertainty and able to resolve any problems before they occur – a key task in any project management role.

Gaining a project management certification is no mean feat. Individuals must be committed and passionate to complete it, as it requires going through rigorous training, learning material and passing professional-level exams.

You may learn the following skills in project management training:

• Prioritise business resources and ensure they are used efficiently
• Set the scope, schedule and budget accurately
• Keep on track of schedule and keep costs and resources within budget throughout the project
• Improve the quality of work produced
• Improve communication between all parties; employees, managers, clients/stakeholders
• Satisfy the needs of stakeholders
• Mitigate risks of a project failing

3. Increased employability

Photo credit: Romeo Pj / Shutterstock

Being a qualified project manager can significantly enhance your marketability in the workplace, resulting in the opening of new doors and allowing you to advance your career as a project manager.

Organisations know that ensuring their project managers have recognised industry-standard qualifications brings many benefits. The UK government, for example, uses PRINCE2 almost exclusively, so they know that anyone they hire with a PRINCE2 qualification will be able to understand their systems and working practices. A project management qualification signals to the employer that you know what you’re talking about and have the basic knowledge required to do the job, something especially useful if you have little previous experience.

On the other hand, an advanced qualification like PMP signals that you are among the best of the best with deep industry knowledge and experience, allowing you to stick out when applying to large, highly respected companies.

4. Earn more money

Photo credit: fizkes / Shutterstock

As mentioned previously, having at least one qualification under your belt can result in being offered better and more high-quality jobs. As a consequence of this, it is inevitable that you will see a marked rise in your salary too.

According to PMI’s Earning Power Report, there is a significant jump for project managers who are PMP certified (or equivalent). Respondents in the survey show higher median salaries than those without any qualification in the field – a staggering 23% higher on average across the 37 nations surveyed. Therefore, once you are certified, you are well within your right to command higher pay and an immediate hike. With the right qualifications and experience, you could be earning a six-figure sum!

5. Adhere to professional standards

Photo credit: fizkes / Shutterstock

Project management qualifications don’t just help those looking to get into the industry. If you’ve been working as a project manager already, gaining certification will help you adhere to international standards followed by professionals around the world. This means you can correct any bad habits you’ve picked up along the way and ensures you perform in line with best practices, gaining vital project and leadership skills.

Many certifications draw from a common body of knowledge, providing a common language you can share with other project professionals to ensure you are in sync, because communication is key. A successful project takes a lot of valuable resources including time and money, so getting tasks done properly the first time is crucial.

At The Knowledge Academy we’re here to help you earn your project manager certification. New to the field, or want to find out more about how to become a project manager? Read our project management guide for beginners and see whether it is the right career path for you. Alternatively, if you have any further questions regarding project management or our courses, please do not hesitate to get in touch!