Is the PMP exam worth while

I am a member of a few groups on the social media site, Linkedin.com.  Recently, a member of the group called "Project Manager Community" asked the following question : "Does having a PMP state you're a better PM compared to one that doesn't have this certification?".

So far, there are more than 110 comments and they are still continuing to be added. 

My answer was to comment that it is not just the qualification, but that it must be combined with experience to make a good PM.  The depth of knowledge that the PMP exam makes each candidate understand is far superior than any other PM exam that I have seen, or indeed taken.  Each candidate must know the PMBoK inside out and understand the complexities and dependencies of project management.

Leadership Skills : Trust

Trust is a key leadership skill.  Without trust, you will find many blockers in your projects and find that teams will not optimally perform for you within the execution phase of your project.  Gaining trust from your senior stakeholders ensures that your project has the appropriate level of support from the business and provides you with a level of authorisation to  smooth out any political issues.

Supplier Contracts

One of the many pre-project, or early tasks for a project manager is to arrange the supplier contracts.  In the last two client assignments, I have had to find and secure contracts with a multitude of vendors for various provisions.  Some vendors have been used for consulting, others have supplied software and a few have supplied hardware.  Often, a client will have a preferred supplier list that you have to work with.  Sometimes the supplier list is constrictive and cannot deliver the required service or product, so you have to take a recommendation to the project steering committee to gain permission to pursue a new supplier.  This can cause delays, as the on-boarding process can take considerable time and effort, especially in larger companies and corporations.

Risk Management Plan

The Risk Management Plan is one document of many that combine to make the Project Management Plan, in my view.  The Project Management Plan is a set of documents that tell you how the project will be managed in terms of scope, cost, quality, change, resource, risks and much more.

The Risk Management Plan defines how risks will be controlled within the project.  It begins with the identification and then defines the action plan to deal with each type of risk.  The Risk Management Plan does not identify individual risks, but is a structure for dealing with risks.

When a Project becomes a Program

A Project is a temporary endeavour undertaken to create a unique product, service or result.  This is the definition from the PMBoK guide from the PMI.  A project is not a permanent fixture, including resources, budgets and teams, it is only in place to produce the final product.  A project has a defined end and can be stopped, if the end is not going to be achieved or is no longer a business requirement.

A program is a set of related projects which are managed in a coordinated way to obtain benefits not available from managing the Projects individually.  Programs will contain projects, but Projects may not necessarily be contained within a Program.

Project Governance

Project governance is the framework which ensures that the project has been correctly conceived and is being executed in accordance with best project management practice and within the wider framework of the internal strategies and processes for each organisation.

Project Governance provides a centralised strategy for project control and reporting, including a set of rules of engagement and guidelines with project teams including external parties.

Risk Management Exam Prep - The beginning

Last week, I successfully passed my PMP Risk Management Professional Exam.  I started studying back in November, by reading the PMBoK Guide chapter on Risk Management and then read a few blog articles on the experience people had and the lessons learned from taking the exam.

Over the Christmas period, I had a break from study to enjoy the time with my family, so my mini-plan failed to go according to plan.  At the beginning of January, I started to plan for the exam, which included understanding the exam structure and discovering the cheaper options for exam preparation material.