- PMI Kenya says with the country's medium-term outlook remaining modest, achieving business goals requires more than just a great idea.
- It says the hiring of PMP-certified project managers has emerged as a strategic imperative for companies towards the growth prospect.
Certified professionals earn better salaries and higher allowances, according to latest findings of the Project Management Institute (PMI).
For example the latest Project Management Salary Survey, shows that respondents with Project Management Professional (PMP) certification earn 33 per cent higher median salaries than those without the certification.
About two-thirds, 66 per cent of the survey participants, reported that their total compensation (including salary, bonus and other cash incentives), increased over the 12 months before completing the survey.
PMI, Sub-Saharan Africa managing director George Asamani says analysis shows a broad consensus that certification is valuable not only for salary growth, but also for career development.
“Project management is a fulfilling career and, with the right certification rewarding too. The PMP certification holds the potential to boost earning power, making it a must-have for professionals,” said Asamani.
This comes at a time the field of project management is experiencing growth and is expected to see a surge in demand in the coming years, with an estimated requirement for 25 million professionals worldwide across diverse industries.
Among the sectors offering promising prospects for project managers are technology, construction, manufacturing and finance.
According to Asamani, the report is a useful resource for professionals applying for project management roles and organisations seeking to fill them, as it helps define the earning power of project professionals around the world.
Africa’s economic prospects are hinged on various elements and strategies, and include policy framework, capacity building, infrastructure, access to resources, technology amongst others.
“This requires a comprehensive approach involving various stakeholders, including governments, private sector entities and civil society working together. The final piece of this puzzle is project management getting all these role players to deliver successful projects,” added Asamani.
This latest edition of the biennial publication drew insights from over 20,000 respondents in 21 countries, 78 per cent of whom hold the PMP certification.
Kenya’s economy is projected to grow 5.5 per cent in 2023, according to the National Treasury Draft Budget Review & Outlook Paper.
The projections are pegged on the recovery of the mainstay agricultural sector, private sector growth and consolidation of the public sector.
PMI Kenya chapter president Jeane Mathenge said that with the medium-term outlook remaining modest, achieving business goals requires more than just a great idea.
“In a volatile, uncertain, complex and ambiguous business environment, the hiring of PMP-certified project managers has emerged as a strategic imperative for companies," Mathenge said.
"Their expertise spans critical areas such as strategic decision-making, risk management and adaptability to change, all of which are indispensable in the current economic environment.”
The report further notes that, while there can be a monetary advantage to earning the PMP certification, there are other benefits, including the fact that certified project professionals are in significant demand across industries and geographies, and hiring managers are recognising the value of industry certifications and skills-based hiring.
The PMP certification is one of the most globally recognised and respected certifications in the field of project management.
Issued by PMI, the PMP certification is a universally accepted standard that signifies an individual's expertise, experience and commitment to the highest level of professionalism in the field of project management.