Because it straddles the divide between strategy and implementation, formal portfolio management is the most efficient approach to carrying out strategic initiatives. 2012 Pulse of the Profession® research found that 62 percent of products at companies with strong portfolio management met or exceeded expected ROI. Project, program, and operation alignment with strategic objectives is done by portfolio managers, who allocate resources to the proper initiatives in order to produce the desired results.
I’ll discuss thoroughly the PfMP exam details, prerequisites, and everything else you need to know before taking this exam. I’ll also share resources such as the PMI Exam PDF, as well as the approaches and tricks you should take to ace the exam.
PMI PfMP Exam Overview
Your advanced expertise in the coordinated management of one or more portfolios to accomplish strategic goals is indicated by the Portfolio Management Professional (PfMP) designation. Organizations with established project portfolio management procedures successfully complete their initiatives 35% more often. According to our 2015 thought leadership paper, Delivering on Strategy: The Power of Project Portfolio Management, they waste less money and experience fewer failures.
Obtain and Keep Your PfMP Exam
- The panel review constitutes the initial stage of evaluation.
- You have four hours to complete the 170 multiple-choice questions on the certification exam.
- Every three years, you must obtain 60 PDUs in portfolio management-related areas to keep your PfMP active.
Prerequisites
- All applicants must have at least 96 months of recent, full-time, professional business experience.
- Secondary education (high school diploma, associate's degree, or its equivalent in other countries)
- Portfolio management experience of 84 months
Qualifications in Education
- Path A: Secondary education (high school diploma, associate's degree, or its equivalent internationally).
- Path B: Four-year education
- Path C: A postgraduate or bachelor's degree from a GAC-accredited programme
PMI PfMP Exam Topics Coverage:
25% of strategic alignment
20% of governance
25% Portfolio Performance
15 percent Portfolio Risk Management
Management of Communications 15%
Why Should You Get PMI PfMP Certification?
- Your organization will take notice of you and your PfMP certification. It is widely regarded as having respect in the field of portfolio management.
- You will learn how to employ best practices in portfolio management while gaining real-world experience in portfolio analysis through this certification.
- According to a poll, professionals with this credential, such as senior project managers, account managers, and PMOs, earn 20% more than those without it.
Who Can Take the PMI PfMP Exam?
The Project Management Institute, or PMI, offers the PfMP. It is a group that has been working to make project management a profession since it was founded in 1969.
The PMP is a fairly well-known certification offered by the PMI, which is also well-known for its training programs. Since its launch in 2013, the PfMP has been accessible, and 68 nations currently have certified portfolio managers.
What is the Price of the PMI PfMP Exam?
The cost of certification is US$800 for PMI members and US$1,000 for non-members. Although you don't have to buy any books, enrolling in online courses or joining study groups may be beneficial.
The cost to repeat your multiple-choice exam if you don't pass it the first time is US$600 for members and US$800 for non-members.
Which Learning Materials are Available for the Portfolio Management Professional (PfMP)® Exam?
For practitioners at the executive or senior level who manage a portfolio of projects or programs that are coordinated with an organizational and strategic assemblage of work, the Portfolio Management Professional (PfMP) exam has been developed. Candidates must pass the PfMP Exam with the required minimum score in order to receive the professional title of PMI Portfolio Management Professional from the PMI. Please review the PMI Official study guide, and what should be covered in the PMI Portfolio Management Exam preparation if you want to pass the certification exam for PMI Portfolio Management with a high passing score.
The PMI Portfolio Management Professional (PfMP) Exam is based on the PMI PfMP Exam Summary, Body of Knowledge (BOK), Sample Question Bank, and Practice Exam. These tools were created to assist you in preparing for the PMI Portfolio Management Professional (PfMP) test. You should take the PMI PfMP Practice test and PfMP sample questions provided by ExamsKit to enhance your PMI PfMP exam preparation level.
Summary
Project Management Institute is referred to as PMI, and "PMI Agile Certified Practitioner (PMI-ACP)" is referred to as PfMP. It is an examination that gauges a candidate's familiarity with and competence in Agile project management practices.
You should read the PMI study guide and other suggested readings from PMI to get ready for the PfMP exam. Attending Agile training sessions and practicing with practice tests are also advised to increase your chances of passing the exam.