Total Project Management Professional (PMP) credential recorded.

Total Project Management Professional (PMP) credential recorded.

June 19th, 2009 · No Comments

Total PMP Credential holders has grown by more than 1000% to over 330,000 people in the last 9 years. The world economy is increasingly dominated by projects. Budgets represented by projects are growing at a phenomenal rate, particularly in developing economics. One-fifth of the world’s GDP will be invested in projects each year in the next decade.

Gross fixed capital formation is now at about $12 trillion, compared with $2.6 trillion about four decades ago. This figure, one of the measures of economic growth used by the World Bank, primarily comprises large infrastructure projects such as construction of roads, hospitals, schools, etc.

A 2008 study by Anderson Economic Group reported that overall demand for workers in project-oriented occupations is growing faster than in other occupations. The study estimates that employment in project-oriented occupations across all industries will grow 1.5% from 2006 to 2016, compared to 1% growth for total employment.

The study also established that there would be an even greater demand in projectized industries. For example, manufacturing, construction, pharmaceutical, IT and IS. These industries are offering higher average pay for project employees (annual salaries of $89,000 vs $49,000 for non project oriented workers).

The study also predicts that from 2006 to 2016 the GDP of these industries will grow at an average of 5.6%, compared to 3% for total GDP growth. There will be 1.2 million job openings yearly in project-oriented occupations.

The Anderson study also forecasts that by 2016, demand for employees in projectized industries will increase to 32.6 million, an increase of 33% over the demand in 2006. Of these employees, 10.2 million will be new workers, which means that 31% of total project-oriented workflow will need to be newly trained by 2016.

Article from PMI Today.