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Insights from the 2023 Project Manager Salaries Report

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Maximizing Your Earning Potential

The latest 2023 Earning Power Report from the Project Management Institute (PMI) gives a few clues for the benefits of holding a Project Management Professional (PMP) certification. For those considering whether to get their PMP, this might just be what you need to see, with some pretty compelling data on how a PMP can influence your salary across different regions and roles.

PMP Certification and Salary Impact

PMP Versus no PMP - Salaries

The report actually shows there is a decent salary boost for project managers who hold a PMP certification compared to those who do not. Here’s a quick overview of how PMP holders fare around the globe:

  • United States: Project managers with a PMP certification earn an average of $130,000, significantly higher than their non-certified peers.
  • Australia: PMP-certified project managers earn about $108,000, showing a strong return on investment.
  • Germany: With an average salary of $113,000, Germany also reflects the value of a PMP certification.
  • United Kingdom: Certified project managers earn around $94,000.
  • Singapore: The average salary stands at $82,000 for PMP holders.

Salary Increases by Country With a PMP

Percentage increase in salary with PMP - Project Management

The percentage increase in salary from obtaining a PMP varies by country, but here are the ones that stand out:

  • South Africa: A remarkable 67% increase, translating to a jump from $38,000 to $60,000.
  • Colombia: PMP holders see a 65% increase in their earnings.
  • Nigeria: With a 60% increase, PMP certification proves highly beneficial.
  • Brazil and the United States: Both countries experience a 40-50% rise in salary.
  • Germany: Offers a 27% increase.
  • United Kingdom: Gives a 25% increase.
  • Australia: Provides a 10% increase.

In dollar terms, these increases can be substantial:

  • United States: An average increase of $40,000.
  • South Africa: Around $25,000.
  • Germany: Approximately $21,000.
  • Canada: $20,000.
  • Singapore: $9,000.

Advancing to Program Management

Project Manager salary increase with larger teams

The report also highlights the financial benefits of transitioning from a project manager to a program manager. Program managers, who oversee multiple projects, typically see a 35% average salary increase. Countries like Saudi Arabia and Colombia report even higher jumps, making this career advancement a lucrative opportunity.

Managing Larger Projects

Project Manager Salary Increase when Program Manager - PMP

Managing larger projects with 20 or more team members instead of smaller teams can also enhance your earning potential. The report notes an average salary increase of 30% for those managing larger projects.

You Can Do It

Getting your PMP certification, advancing to program management, and managing larger projects can all make a big difference to your salary.

  • PMP Certification: Provides a 33% average salary increase.
  • Program Management: Offers a 35-40% increase.
  • Larger Projects: Results in a 30% increase.

For project managers aiming to increase their earning power, the evidence is clear: pursuing a PMP certification, advancing to program management roles, and managing larger projects are effective strategies. With determination and effort, you can leverage these insights to enhance your career and financial prospects.

See more PMP Articles and Tips for Passing your Exam: 

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Navigate to Free Project Management and Leadership Articles through the links on the right (or at the bottom if on Mobile) 

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management Plan Template: Save 100 HOURS!

 

Is This The Only Thing You Need To Pass The PMP Exam?

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The Secret To Passing The PMP Exam – The Exam Content Outline

If you’re gearing up to take the Project Management Professional (PMP) exam this year, you may have come across various study materials and guides, each claiming to hold the key to passing the test. However, there is definitely one document you should prioritize: the PMP Exam Content Outline (ECO). While it isn’t a textbook or practice guide, it IS a detailed outline of the exam provided directly by the Project Management Institute (PMI).

The PMP Exam Content Outline is crucial because it goes into exactly what the exam will cover. You can get is for free on the PMI website, and it breaks down the exam into key domains: People, Process, and Business Environment. By understanding these areas in detail, you can focus your study efforts on exactly what is required to pass the exam.

Why the PMP Exam Content Outline Matters

The ECO provides a comprehensive breakdown of the domains and their respective weightings in the exam. For instance, it highlights that the:

  • “People” domain constitutes 42% of the exam,
  • “Process” makes up 50%, and;
  • “Business Environment” accounts for 8%.

This can help guide your study and help you allocate your time effectively.

Focus on What PMI Considers Important

Since the ECO is published by PMI, it reflects the specific areas of knowledge and skills that the institute deems essential for the PMP exam. Studying this document ensures that you align your preparation with the actual content of the test.

The ECO is also free and accessible – readily available for download from the PMI website. Simply search for “PMI ECO PMP” to find the document and use it as a foundation for your study plan.

Using the ECO Effectively

While the ECO provides a detailed outline, it does not delve into the specific techniques or methodologies required for each task. So personally I would pair this with some comprehensive project management education, including the 35 contact hours or professional development units required for the exam. Here’s a quick overview of what you need to know for each domain:

People:

Focus on managing conflict, leading teams, supporting performance, and building a cohesive team. It also covers skills in negotiation, collaboration, and virtual team management.

Process:

Encompasses the execution of projects from start to finish, including managing communications, risks, budgets, schedules, quality, and changes. It also involves determining the appropriate project methodology and governance structure.

Business Environment:

This is where we ensure compliance, evaluating and delivering project benefits and value, addressing external business changes, and supporting organizational change.

You Can Do It

The PMP Exam Content Outline is an indispensable tool for your exam preparation. By thoroughly understanding and using it alongside other study resources, you can enhance your chances of success. Dive into the ECO, combine it with solid project management education, and you’ll be well on your way to passing the PMP exam with confidence.

I believe in you, and I know you can do it! Remember – “Hard work beats talent, when talent doesn’t work hard.” You can do this!

See more PMP Articles and Tips for Passing your Exam: 

You can see what people are saying about David McLachlan here: REVIEWS

Navigate to Free Project Management and Leadership Articles through the links on the right (or at the bottom if on Mobile) 

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management Plan Template: Save 100 HOURS!

 

Is the PMP Still Worth it in 2024?

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PMP – Overpriced or Valuable Certification?

If you’re investing in your education this year, the Project Management Professional (PMP) certification is still a hot topic. Many people have heard that the exam may not be well-regarded enough, and that it requires ongoing maintenance through Professional Development Units (PDUs). Despite that, the PMP certification still offers significant benefits in 2024.

Benefit 1: It Makes It Easy To Hire You

Firstly, the PMP is valuable because it makes it easier to hire you. Recruiters frequently use “PMP” as a key search term to quickly identify qualified candidates, making it easier for job seekers with this certification to get noticed and shortlisted. This shortcut can be a significant advantage in a competitive job market.

Having the PMP itself shows recruiters that you have at least three years of experience leading projects, and have put many hours into your own education on Project Management – something many managers NEVER do. This sets you apart from the competition.

Benefit 2 – New Tools To Help Your Current Projects

Secondly, the process of studying for the PMP can help your current projects. Many professionals report gaining new insights and tools that enhance their project management skills. The certification covers essential areas such as project management processes, the business environment, and soft skills like leadership and communication, which can lead to practical improvements in your career.

I know it has personally helped me in my career, in starting new projects, getting the right support, helping stakeholders support the project, and ensuring the right value is delivered on time and on budget.

Benefit 3 – The PMP Is Still The Most Recognized PM Certification

Thirdly, the PMP is the most recognized project management certification globally, far surpassing alternatives like PRINCE2 or Scrum Master certifications. Its widespread recognition, with over 200,000 searches each month, just shows how valuable it can be, and its relevance across every industry where projects are managed.

Disadvantage – PDUs Too Hard and Expensive?

Many people say that having to maintain the certification every 3 years with ongoing “Professional Development Units” (PDUs) and more money to keep the certification current is too much.

This step is optional, however. You don’t have to maintain the certification. Simply gaining it in the first place is valuable, and shows you have put in the work. Often, your job experience would take over from there after a few years.

But a CPA in Accounting has a similar deal where they maintain their education and the CPA to show they are still current in the industry. It really is your choice.

Benefit 4 – It won’t make you less marketable

Lastly, earning a PMP certification will not diminish your marketability. Even if the certification does not lead to immediate job opportunities, it provides a strong foundation of knowledge and demonstrates a commitment to professional growth.

In summary, the PMP certification continues to offer valuable benefits, including improved job prospects, enhanced skills, and global recognition. For those willing to invest the effort, it remains a worthwhile endeavor in 2024.

Never Forget – You Can Do It

With a little hard work and persistence, you can gain this certification and improve your job prospects, improve your current projects with the things you will learn, and improve your options for your future career.

It can be hard, but I know you can do it. Keep going. Do something every day, no matter how small. In one years’ time you will have grown and changed, and you will not recognize the amazing person you have become.

See more PMP Articles and Tips for Passing your Exam: 

You can see what people are saying about David McLachlan here: REVIEWS

Navigate to Free Project Management and Leadership Articles through the links on the right (or at the bottom if on Mobile) 

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management Plan Template: Save 100 HOURS!

 

David McLachlan Review – “I just passed my PMP exam having AT on all three parts.”

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“I just passed my PMP exam having AT on all three parts. David, your videos are the truth and I appreciate you Sir. Having the mindset of an Agile PM was such as important thing to make this happen. I appreciate your videos.” – Vensouv

This is yet another person working hard and passing their PMP with Above Target results. Getting these results are not easy, but they are worth it. If you’re working on your Project Management skills this year, you can do it. I believe in you.

See live comments and reviews on David McLachlan on YouTube, Udemy and Etsy.

See what people are raving about! Get the Project Plans, Project Tools in Excel, Udemy PMP Course or Udemy Agile course here:

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management PLAN Template: Save 100 HOURS!

 

David McLachlan Review – “I aced the PMP on my first attempt with AT across all 3 domains.”

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“Great job on the course content and delivery. The mock exams were useful to build the project mindset. I aces the PMP on my first attempt with AT across all domains. All I needed was this intense 4 day crash course and exam style questions.” – Nosakhare – PMP Course on Udemy.

No matter where you’re starting from, you can improve your life.

No matter how small it starts, each small improvement you make will build on the previous one, getting bigger and bigger like a snowball rolling down a hill. Make the right choices.

Choose the study instead of television. Choose your family instead of social media. Learn something new every day. This is another person passing their PMP – it is wonderful to hear 😊 And YOU can do it too!

See live comments and reviews on David McLachlan on YouTube, Udemy and Etsy.

See what people are raving about! Get the Project Plans, Project Tools in Excel, Udemy PMP Course or Udemy Agile course here:

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management PLAN Template: Save 100 HOURS!

 

How The Cost of Quality Increases On Your Project

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The cost to fix a defect increases as it gets closer to the Customer.

🤝 During Requirements: It costs very little to check, prototype and review requirements before we program them.

🤝 During Solution and Design: It costs relatively little to review and change a design.

🤝 During Development: It costs a bit more in time and effort to redo an item if it gets this far and there’s a defect. We may need to re-look at the requirements and design too, and re-code the solution.

🤝 During Testing: If we catch a defect during Testing, we may have to redo it in Development, or even go through the process from requirements again.

❌ But once a defect gets to a customer, we have the added cost of bad customer reviews, impacts to our brand or reputation, PLUS the time taken to review the customer complaints and address them, PLUS the waste of something we created that may have to be completely redone.

➡️ What else would you add to the Cost of Quality?

See more Project Management Picture Concepts: 

You can see what people are saying about David McLachlan here: REVIEWS

Navigate to Free Project Management and Leadership Articles through the links on the right (or at the bottom if on Mobile) 

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management Plan Template: Save 100 HOURS!

 

Crowdstrike and Quality Management on a Project

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Why is Quality important in your project?

You probably heard about the Crowdstrike outage on the weekend of July 2024 that disrupted airports, banks and stores all around the world. It was caused by Crowdstrike pushing a system file full of zeros to production.

How can we avoid this sort of disaster as we manage our own Projects? There are many ways:

➡️ Peer review & Code Inspections: Checking the requirements with a user or reviewing the code with another Developer.

➡️ Continuous Integration: Merging changes into the main test system (often daily) with automatic tests.

➡️ Test Driven Development: Tests are written first, failed, then run again and passed after the solution is coded.

➡️ Unit Tests: Testing each small piece or User Story.

➡️ System Testing: Testing the integrated system as a whole.

➡️ User Acceptance Testing: Testing the system from the User’s point of view.

➡️ Regression Testing: Testing the existing system with the changes to see if they’ve impacted normal operations.

➡️ Production Verification Testing: Testing the change in the live environment after go-live then rolling the change back if it goes wrong.

➡️ Sprint Review: Demonstrating the actual change to the customer or senior users before release.

Quality is one of the 10 Project Management Knowledge Areas for a reason.

⭐ What are some of the ways you manage Quality on your own projects? ⭐

See more Project Management Picture Concepts: 

You can see what people are saying about David McLachlan here: REVIEWS

Navigate to Free Project Management and Leadership Articles through the links on the right (or at the bottom if on Mobile) 

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management Plan Template: Save 100 HOURS!

 

David McLachlan – What People Are Saying

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See live comments and reviews on David McLachlan on YouTube, Udemy and Etsy.

Here is what people have to say about David McLachlan:

“THE best instructor I have seen so far for the PMP, he not only gives you the information, but he TRAINS you to get into the mindset required to pass the PMP exam, and also to effectively manage your own project. Amazing course, amazing instructor, I believe in you, and so does David McLachlan.” – Xavier

David McLachlan review

“David McLachlan is one of the most sincere and personable teachers I’ve ever studied under. His positivity is genuinely infectious. It’s clear to me that what he teaches comes from a place of wanting his students to succeed, not just in the exam, but also in the corporate environment.” – Manunath

David McLachlan review

“Passed my PMP first try. In the 3rd section of the exam when I could feel myself getting tired, I imagined how you would read the question and break it down, and I heard your voice and your accent when reading the questions. I can’t recommend this (David McLachlan course) enough.” – John

David McLachlan review

“I have to say how amazing your (David McLachlan’s) video series is. Both my wife and I took the exam and we both passed AT in all areas. When I first saw your revies, I assumed they were fake because of how glowing they were. If anything, they under-report the true value you provide.” – Eric

David McLachlan Review

“Hi David McLachlan, I passed PMP this week with 3 ATs. Thanks a lot for the humongous effort that you have put in to make things clear for us. You made me understand the concept so well. Thanks again David.” – Rekha

David McLachlan Review

“Fabulous Project Management Plans (by David McLachlan) for any Project Management Professional (PMP). Saves you several hundred hours of work, prevents mistakes, and makes you look like a very experienced professional.” – Linda

David McLachlan Project Plans Review

“I took my PMP exam today, and could practically hear (David McLachlan) your enthusiastic, encouraging words as I made my way through the test. “How did you go?” “I KNOW you can do it.” “I believe in you.” I can’t thank you enough for your encouragement!” – Burt

David McLachlan review

“Highly recommend this (David McLachlan) course! The clear communication, efficient content, and handy review materials not only made learning enjoyable but also led to my successful exam outcome. Kudos to David for creating an exceptional learning experience!” – Said K.

“I passed my PMP exam today. I studied using all of your (David McLachlan) lecture videos as well as the several hundred question videos. You have a gift for explaining the material in an interesting manner with genuine excitement.” – DP

“I just passed my PMP, with all three Above Target. David McLachlan, THANK YOU!! I watched your YouTube videos and followed your class in Udemy. Thank you so much for sharing your knowledge, for taking the time preparing the materials, and BIG thanks for the enthusiasm and energy you put into, your smile and positivity are very motivating and encouraging!!” – Oddy

“I got my PMP certification two days back and wanted to express by sincere gratitude for your videos David McLachlan. What I liked the most is the way you have recorded them, the acknowledgement for the efforts and positive nudge was very effective. Thank you so much!” – Apurva

“I just passed my PMP today thanks to David’s Udemy course … it is hard to believe honestly! If you’re sleeping on the course, I highly recommend it.”

David McLachlan’s PMP Udemy Course is currently the highest rated PMP Course on Udemy.

David McLachlan PMP Udemy Review

See what people are raving about! Get the Project Plans, Project Tools in Excel, Udemy PMP Course or Udemy Agile course here:

PMI PMP 35 PDUs CourseThe Ultimate PMP Project Management Prep Course (35 PDUs)
Agile Certified Practitioner (PMI-ACP 21 PDUs)The Complete Agile Course: PMI-ACP (21 PDUs), Coaching, Jira and MORE! 
50 Project Management Templates Gantt Chart Risk Matrix and more Excel50+ Project Management Templates in Excel and PowerPoint (Gantt Chart, Risk Matrix and more!)
Project Management Plan TemplatesPre-made Project Management PLAN Template: Save 100 HOURS!

 

PMP Exam Questions – Practice Session | 15

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– See all the PMP Exam Questions – 

PMP Exam Question Practice 15PMP Exam Question Session 15

In this series we will walk through five PMP Practice Exam Questions each day – a great way to set up your morning as you prepare to pass the PMP Exam. It is also useful for the CAPM exam, as the content is very similar.

We will also figure them out together, and you’ll see the thought process behind solving these PMP exam questions.

I hope you enjoy!

 

Question 1

You are working through various options in your project and need to help stimulate your group towards innovation and ideas. Which of the following is a type of group creativity technique?

A)  Monte Carlo Analysis
B)  Regression analysis
C)  Brainstorming
D)  Root cause analysis

Question 2

You are working as a project manager, at the stage where you need to validate the scope and products you have created with the appropriate people. What is the output called that is produced by a project and approved by the end-user or customer?

A)  Accepted Products
B)  Accepted Deliverables
C)  Accepted Results
D)  Accepted Data

Question 3

You are working on your Project Management Plan and will need the opinion of an individual or a group who has a wide range of knowledge and experience in that specific field. What is this called?

A)  Expert Judgment
B)  Expert Findings
C)  Expert Comment
D)  Expert Decision

Question 4

You are developing a new product and decide to add three extra features that the customer did not ask for, to make the product extra special. You feel as though it will work better this way. What is this called?

A)  Scope Creep
B)  Customer first
C)  Verified Deliverables
D)  Gold Plating

Question 5

A project management plan is a formal approved document that defines how the project is planned, executed, monitored and controlled. Who is responsible for creating and updating the project management plan?

A)  The Program Manager
B)  The Project Manager
C)  The Project Sponsor
D)  The Project Team

– See all the PMP Exam Questions – 

PMP Exam Questions – Practice Session | 14

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– See all the PMP Exam Questions – 

PMP Exam Question Practice 14PMP Exam Question Session 14

In this series we will walk through five PMP Practice Exam Questions each day – a great way to set up your morning as you prepare to pass the PMP Exam. It is also useful for the CAPM exam, as the content is very similar.

We will also figure them out together, and you’ll see the thought process behind solving these PMP exam questions.

I hope you enjoy!

 

Question 1

You are working on a project and have been asked to create a plan that shows the practices and procedures to be adopted for execution and monitoring and controlling the project. What will you create?

A)  Risk Management Plan
B)  Project Management Plan
C)  Sponsor Management Plan
D)  Benefits Measurement Plan

Question 2

You have recently discovered the importance of communication in your project after one of your directions was misunderstood. What is one of the most effective way to handle complex communications?

A)  Informal written communication
B)  Oral formal communication
C)  Formal written communication
D)  Oral informal communication

Question 3

You are working in the risk area of a project. The project work is half way complete and dozens of new risks have been found that could jeopardise your project. The risk plan is not yet complete. When should risk management planning have been completed?

A)  At the beginning of your project, during initiation and planning
B)  In the middle of your project, during execution
C)  When monitoring your project – you can analyse what isn’t created yet
D)  When the project is finalised – as you will know the risks that have occurred.

Question 4

You are a project manager needing to use a project tool and technique that will inspect, clean, transform and model large amounts of data to uncover the impact of certain project risks. What technique are you using?

A)  Meetings
B)  Assessment Analysis
C)  Information Technology
D)  Data Analysis

Question 5

You are working on Risk Planning in your project and have asked one of your team to find the established records of risk categories within the organisation for you to pick from and re-use. What project management tool and technique are these also called?

A) Prompt Lists
B)  Mitigation Lists
C)  Issue Lists
D)  Risks Lists

– See all the PMP Exam Questions –