Are you wondering if PMP will be good support for Business Analysts? Then you have reached the right place, and here is what you need to know.
Project Management and Business Analyst are two different career options and have varied fields of study. A certified BA analyzes the business domains, looks after the needs, and provides solutions. In contrast, a certified PM is always held responsible for the failure or success of an organization’s project.
What do you think? Will a PMP enhance your career as a Business Analyst? Let’s find out!
What is PMP?
When it comes to Project Management, the PMP or Project Management Professional is one of the most respected and popular certifications!
It is a specially designed professional course for individuals who aspire to be project managers. Yes, if you think you are ready to take up the role of a project manager in a company or an organization, you need this certification!
This well-recognized project tests an individual’s ability to manage a professional business project’s processes, people, and priorities. Over a million people hold this degree, says PMI (Project Management Institute).
PMI administers this certification. This certification applies to any project manager working in any industry, such as construction, healthcare, business, and even IT.
As a good project manager, you will be responsible for planning and executing all sorts of projects for large and small organizations.
Is PMP Necessary For Business Analysts?
Project managers receive training in initiating, planning, executing, and closing a project. They are also responsible for defining the project, diminishing the entire project into sets of small manageable tasks, providing adequate resources, and building the team that will work on the project.
Not just this, project managers are trained in monitoring and mitigating the potential risks as the project advances. And they always have a backup plan that helps them adapt to the changes, as nothing goes as planned in a business or a project.
Now, business analysts are a bit different compared to project managers. These individuals are concerned about the final product and see if the product meets the business’s key stakeholders’ demands and requirements. The key functions of a business analyst are interacting with the stakeholders, analyzing and gathering the needs, and also justifying that the final products are going to solve all the problems that are currently at hand.
The only evident contention between the two is the “issue of change.” It is pretty usual for the PMs to advise the changes to the project scope. You can achieve it by adding extra features and functions to a product (this affects cost and project schedule). In contrast, the BAs consider that changes are necessary to meet the stakeholders’ needs efficiently.
Especially in small organizations, it is not unusual for an individual to take up both roles. However, the best call is to have one business analyst and one project manager on the team. It will balance the team, and the results will be brighter.
As you know, before any project, there is always a business need. And all these businesses can come up in various forms. And this is where the organization feels the need for a business analyst.
These individuals have proficiency in assessing the business models, analyzing, and validating solutions for implementing the project. Bas plays a crucial role in planning a project just as a project manager!
Again, if you are wondering if you should pursue a PMP certification, that depends on your career options. Yes, having a PMP will advance your career as a business analyst.
Business analysis is no less than a subset of the overall functions of a project manager. Every project manager has some business analyzing skills. And if you aspire to expand your comfort zone further beyond, pursuing a PMP will be worth it.
How Does A PMP Help Business Analysts?
Now, there are certain advantages of earning a PMP certification as a BA –
#1 Better Career Opportunities
The demand for hiring a Project Management Professional is increasing day by day. The recent PMI analysis states that this profession will grow 33%, equal to 22 million jobs, through 2027.
Yes, the greater the demand, the better opportunities you get! The analysis also states that by 2027, employers will need roughly 88 million PMP-certified individuals in the project management field.
#2 Recognition and Connections
PMP is a reputed certification and is currently the symbol of excellence in the Project Management field. This certification adds a greater value. Organizations or companies that have employed a PMP have seen a significant improvement in their business projects, as they help in completing the project on budget and on time.
With recognition comes powerful and stronger connections. When you get the project management concept, you can connect with other professionals more easily, ultimately getting better opportunities and potential collaboration deals.
#3 Improves Interpersonal Skills
Whether it is a business analyst or a professional project manager, they know that ability to communicate properly is the key! A common language ensures better communication.
As a PMP, you may have to get on with many projects and that too with many teams, so speaking confidently and correctly will ensure that everyone stays on the same page as you are.
As you advance, you will learn about Procurement Audits and Performance Reviews, and these are no general industry terms but are significant parts of this field.
#4 Chance to Learn and Master New Skills
Having these certifications will not only maximize your career opportunities but will also enhance your skills and knowledge. This exam is not easy, and you need to grind every hour to earn this certificate.
You need to master the fundamentals and material methodologies implemented in project management. You will master critical hard and soft skills such as leadership, management, organizing, resource management, conflict resolution, problem-solving, time management, etc.
#5 Earn More
According to PMI, individuals who hold a PMP certification enjoy a salary hike of 15% to 20% more than non-PMP individuals. And this is not only for the USA; this applies to every PMP in any part of the world.
How to get PMP qualified?
Looking forward to pursuing this certification, here is how you will be able to achieve it! Read this guide, and you will have an idea about how to earn this certification.
#1 Eligibility Check
First, you need to meet the requirements before you take this examination. To sit for the exam, you need to satisfy any of the following conditions –
- 36 months or 3 years of experience in project management, and at least 35 hours of project management training, in case you have a 4-year long degree program
- 60 months or 5 years of experience, and 35 hours of project management course training, if you have a high school diploma or an associate degree
Also, you are required to keep track of the following things:
- Information about all projects and training.
- Information about roles, responsibilities, duration of the projects, etc.
- Information, such as the name of the institutions attended, number of courses completed, and qualifying hours.
However, you can waive this training requirement if you have a CAPM Certification.
Get started by making an account in Project Management Institute. Then hop into the PMI app.
This will require you to share your basic information, such as your educational background and what are the projects you have worked on. Once you complete this, you will receive a notification regarding your approval. Once approved, you will need to pay the examination fees and fix the test!
#3 Prepare and Take the PMP Exam
After you have fixed the date for the test, you have to get going and prepare yourself for the exam. You can do this yourself or through coursework.
Exam prep providers recommend that one should study for at least 60 to 120 hours, and only then will you be able to prepare yourself fully.
There are two possible ways of taking this examination, one is online, and another is at the nearest testing site. You get a total of 4 hours to complete your paper.
#4 Maintaining the Qualification
The PMP certification has a validity of three years, and you need to have at least 60 hours of work experience in professional development activities during the 3 years to maintain it. Failing to maintain it, you need to sit for the exam again.
So what do you think, are you going for it? Now that you know that the world’s popular companies are looking for some skilled and proficient project managers, why not join the race.
Although, the cost factor is high well, and requires consistency, determination, and hard work! If you earn it, your hard work will pay off!
Earning a PMP will give recognition and add value to you!