PfMP

New Portfolio Management Professional (PfMP)SM credential to be launched

The Project Management Institute (PMI) has announced the development of a new credential in the area of portfolio management. Based on encouragement from industry leaders and extensive market research with project, program and portfolio management practitioners, hiring managers, and other key stakeholders, the PMI is ready to move forward with this credential.

This credential is currently under development as part of PMI’s Phase Gate process and it is anticipated that the new credential will begin with a pilot at the end of 2013.

The Portfolio Management Professional (PfMP)SM credential will be role-based and will require successfully demonstrating experience and education, as well as passing an exam and completing a multi-tier evaluation. Ongoing professional development will be required in order to maintain the credential. Since the focus of portfolio management is centered on the more advanced concept of aligning the investment of projects/programs with organizational strategy, this credential will be targeted for a seasoned practitioner, who has four to seven years of project portfolio management experience and at least eight to ten years of general business experience.

Below is a table that details the eligibility requirements for those wishing to pursue the PMP credential:

*PMI acknowledges that project portfolio management is an emerging practice and there may not be as many educational/training opportunities in this area.  As a result, portfolio management education contact hours will not be a requirement for eligibility.

PMI plan to formally start accepting pilot phase applications in October 2013 and plan to administer the first exam for the pilot by the end of December 2013. The full launch of the credential will likely be in the second quarter of 2014.

If you have additional questions about this credential, contact Simona Fallavollita, Product Manager – Credentials at simona.fallavollita@pmi.org

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