Make Way for the PfMP!

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As the new school year kicks off in earnest, PMI has given some managers new reason to hit the books again. That’s right a – new credential is in the works.

The Portfolio Management Credential (PfMP – I secretly fantasized about it being named PoMP), is expected to go into pilot toward the end of this calendar year.

In PM-speak, a portfolio represents all of an organization’s investments in programs and projects, and ideally they should be clearly aligned to the organization’s strategic goals. Among other things a PfMP will need to demonstrate that (s)he is adept at measuring benefit, aligning programs, and tying things back to strategy.

This credential isn’t cheap. The cost to sit for the exam is a whopping $800, and that is for those who are already a member of PMI.

Here is a summary of what it will take:

  • Examination Format Evaluation 1: Peer Review 
Evaluation 2: 4 hour, multiple choice exam
  • Examination Fee $800 member 
$1,000 non-member
  • Minimum Professional Experience 6,000 portfolio management hours within last 15 years with a Bachelor’s degree. 10,500 portfolio management hours within the last 15 years with a High school diploma or associate’s degree
  • Credential Cycle 3 years
  • PDUs per Cycle 60 PDUs

There are no contact education requirements before you can sit for the exam.

It will be interesting to see where this one goes. Fewer than 1% of PMPs went on to get their Program Management Professional (PgMP), and the expectation would be that are fewer Portfolio Mangers out there than there are Program Managers.

Let’s hear from you. What is your interest in this new credential?

6 responses to “Make Way for the PfMP!”

  1. Very excited. I have been asking about a PPM certification from PMI for a few years. With the release of their PPM Standard 3rd edition, it seems like the right time to offer the certification.

  2. It will be interesting to see whether this credential gains traction. It makes sense for PMI to develop it. However, I am not sure the strategic thinkers I want managing a portfolio are the type of people that would seek out this certification.

    It goes back to the debate I read somewhere about whether portfolio managers should be drawn from the project/program management ranks or brought in from other executive level functions. Those rising through the ranks would see value in this credential, but I am not sure the other type of portfolio manager would.

  3. Manoj Mittal says:

    Hi,

    I have been thinking of such credetial for long while and am looking forward to hear more from PMI.

    Cheers,
    Manoj Mittal

  4. swaroop says:

    I am keen about the PfMP.

    Andy, I want to hear what you think about the credential? and are you planning on writing book on PfMP?

    Andy, have you heard of CPM (Certified Portfolio Manager by ACPM)? what do you see as a major difference between the two? my two cents: PfMP may be popular in the IT community vs CPM will be more in the financial industry.

    Any thoughts?

  5. Jennifer Baker says:

    I am sitting for the PfMP exam on February 15th. I am also a PgMP and a PMP so I see this as the next component for me and am interested to see what ahppens with the credential overall.

    • Andy Crowe says:

      Jennifer, that’s great news! I’m eager to hear about your experience. Your one of the very first people to go through this. What a great thing to tackle in this New Year!
      Andy

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