Time. Cost. Scope.
In the world of project management, they represent three variables that can mean the difference between success, failure, and something in between.
They are often referred to as the "Triple Constraint," because every project must be completed within the boundaries of its deadline, stated budget, and agreed-upon tasks required to achieve the its goal. Whether or not it succeeds depends on how well its manager is able to maneuver among each variable.
What makes the Triple Constraint vexing for project manager is the fact that all three of the variables are interrelated: changes in one forces project managers to make changes to the other two.
Need a project done sooner? Then it's probably going to cost more, need to be scaled back or both. Need to trim the budget? Alright, but it will cost you in terms of quality and it could take longer to complete.
The best project managers have a deep understanding of the constraints, how they relate to one another, and how to strike a balance between the three. This is so that neither cost, nor time, nor scope whirl out of control.
But it's not easy.
Successfully navigating the constraints requires three things: knowledge, skill, experience, which all adds up to competency and confidence.
And that's where the Project Management Professional (PMP) certification comes in.
Project managers who have achieved PMP certification go through a deep-dive process that prepares them to deliver projects on time, on budget, and without sapping an organization's people of precious energy.
PMP certification is made available through the Project Management Institute, and it has been called the most important industry-recognized certification for project managers.
Here's a look at six reasons why your project managers should achieve PMP certification:
It's the gold standard
There is no shortage of certifications for project managers, but only one is considered the gold standard. CIO magazine said as much in an article about the top 12 project management certifications available in 2018.
The test is robust and rigorous, covering everything you want and need your project managers to know.
It really pays off
PMP certification isn't just some resume-bolstering credential or selling point for a prospective client. It's a credential with teeth.
According to the "Pulse of the Profession" study conducted by the Project Management Institute in 2015, organizations with more than one-third of PMP-certified project managers complete more projects on time, on budget, and within scope.
Clients want it
If a client is going to hire your organization to deliver a project, they want to know with precision that your project managers (who will essentially be their project managers) will deliver.
Potential clients know that PMP certification increases the likelihood of projects meeting deadlines, budgets, and objectives, so more and more are requiring the certification in RFPs.
Consistency, continuity, and quality
Organizations are more efficient and effective when everyone is working under the same systems and to the same standards.
Standardized project management practices help ensure that all projects are managed in a consistent manner. It helps ensure that the loss of a project manager due to illness, emergency, or other opportunities won't entirely derail a project.
In addition, it helps ensure that every project will have the best chance to reach your high quality standards.
One of the best ways to make sure everyone in your organization is operating under standardized project management practices is to invest in PMP certification for at least one-third of your project managers.
It matters to employees
In today's world, where more and more organizations are interested in working with PMP-certified project managers, it's only logical that more project managers will want to achieve the certification.
It makes them more confident. It makes them more competent. And it makes them more successful.
If you want to recruit and retain the best project managers, you're probably going to want to invest in PMP certification.
It's a win-win-win certification
There are not too many things in business that can truly be called win-win-wins. But PMP certification is one of them.
It improves the performance of your project managers. It makes your company more attractive to prospective clients. And it improves your company's overall performance by making sure you're delivering projects on time, on budget, and on point.
That is a triple win.
Learn more about project management certification today
The best project managers have the knowledge, skill, confidence, and experience to address the challenges presented by the Triple Constraint--and most have achieved PMP certification.