Portfolio Management Professional (PfMP) Certification

What is PfMP?

PfMP stands for ‘Portfolio Management Professional’.

It is one of the PMI certifications, awarded to qualifying candidates who go through a Two-Stage Evaluation Process.

PfMP certification is an acknowledgment of the qualifications of persons who meet the strategic objectives of the Organization. PfMP is an affirmation of  Individual extensive knowledge and portfolio management concepts, tips, and techniques.   

The graph below shows the growth of  PfMP designation holders over the last 7 years.

The growth in number displays the confidence of professionals and employers in this high-level prestigious certification.

Who are PfMP?  and What they do?

They possess advanced business knowledge and portfolio management skills.

Their major responsibility is to align portfolio components (s.a. programs, projects, and operations) with Organization strategic objectives, goals, and priorities.

They continuously analyze and monitor portfolio components to address issues, risks, and opportunities.

Steps to get PfMP?

There are 3 steps leading to PfMP Certification.

The first step for candidates who meet the eligibility criteria is to apply for the certification.  

In the Second step, candidates go through a 2 stage evaluation process.

Two-Stage Evaluation Proces

Stage I Evaluation is a ‘Panel Review’. In it, a panel of certified expert Portfolio managers does an extensive review of candidates’ Portfolio management experience summaries provided in the application.

Candidates successful in ‘Panel Review’  are illegible for Stage II Review which is a Multiple Choice Questions Exam.

The third step after passing the exam is to celebrate pass and maintain a certificate.

PfMP Certification Eligibility Criteria.

Eligibility Criteria is based on 3 elements namely;  

Business and Portfolio Experience Requirements are dependent on the candidate’s education level.

For Secondary School Diploma or Associate Degree holder candidates, Professional Business and Portfolio Management experience requirements are 96  months and 84 months respectively.   

For 4 years Bachelor’s degree holders, the Professional Business Experience requirement is 96 months and the Portfolio Management experience requirement is 48  months.

For post-graduate degree or master’s degree holders, the Professional Business Experience requirement is the same as 96 months however, Portfolio management experience is 36 months. 

In all cases, the experience must be non-overlapping and must be earned in the last 15 consecutive years. There is no training requirement for this certification.

If the candidate determines meeting the experience eligibility criteria,  

The next step is to start the application process.

PfMP Application Process

Candidates must fill in the online application form on the PMI website to record:

Contact Information……….., Education …….,

Portfolio Management  Experience Summaries ………,  and

Professional Business Experience Summaries and click SUBMIT button.

Once the application is processed, PMI will ask candidates to pay fees.

PfMP Fee

PfMP fee varies based on candidate PMI membership status.

For PMI members exam fee is US$ 800, while for non-members, it is US$ 1000.

Let us summarize the application process,

Candidates must fill in and submit online applications on the PMI website. The typical application review period is ten days. However, it may take longer if the application is selected randomly for an audit.

During the audit, candidates may be asked to verify the information provided in the application. The chances of the application picked for audit for this certification are considered high.

Once the application review is complete, pay a fee. Upon approval of the application, the candidate moves to the Stage I Evaluation process, a Panel Review.

If Panel Review is successful, the candidate get an Eligibility ID, which is the ‘KEY’ to move to Stage II Evaluation Process – Exam. Computer-Based Testing is a standard exam method. In it …, candidates sit in the exam at a local Pearson VUE Testing Center.

From the date of issue of eligibility ID, the candidate has one year period to schedule an exam and has three chances to appear.

To Schedule, an Exam; go to the PMI website and it will direct you to the Pearson VUE website.

After scheduling the exam, it is time to prepare for the Exam.

PfMP Exam Preparation

For PfMP Exam preparation you may consider reviewing and studying the following documents;

• PMI Portfolio Management Professional Handbook,
• Portfolio Management Professional Exam Content Outline,
• The Standard for Portfolio Management,
• The Standard for Risk Management  in Portfolio, Programs  and Projects, and the mot popular
• A Guide to Project Management Body of Knowledge  called PMBOK Guide.

PfMP Exam Content Outline

PfMP Certification Exam follows the examination content outline provided by PMI. Percentage of Exam Questions is broken up among five domains as;

PfMP Exam Format

PfMP Exam is available in the English language only. Exam Time is 240 minutes or 4 hours. 

The exam consists of 170 questions, out of it 150 are graded. Expect situational and scenario-based questions. The format of Questions asked is multiple choice.

The exam performance report is immediately available after the closing of the exam. Candidates who appear in the exam receive a printed copy of preliminary test results, along with an overall pass/fail status. Once the Examination is Passed, you refer to yourself as “Portfolio Management Professional”.

PfMP Certification Maintenance

After passing the exam, next follow the maintenance phase. PfMP credential holders must earn 60 PDUs over a period of three years. PDU stands for Professional Development Unit. One hour of learning accounts for one PDU.

Good Luck!

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