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Feb 19, 2023 (The Expresswire) -- [124 Insights] Top “Positive Material Identification (PMI) Market” Size 2023 Key players Profiled in the Report are [Niton (Thermo Fisher), PTS Group, Element Materials Technology, Sandberg LLP, TUV Nord, Acuren, Intertek, Bureau Veritas, ARMI, TUV Rheinland, SGS, Hitachi, Olympus, Bruker, Applus, TSI Incorporated, TUV SUD, Shimadzu, AMETEK, Malvern Panalytical, Shawkor, ,] most important, influential, or successful companies, brands, or individuals within a Positive Material Identification (PMI) market 2023 to 2029.
Complete Overview of the Global Positive Material Identification (PMI) Market: -Providing a complete overview of the global Positive Material Identification (PMI) market is a complex task, as there are many different markets and industries around the world. However, I can provide a high-level summary of some of the key trends and factors that are currently impacting the global Positive Material Identification (PMI) market. Economic Growth, Technology, E-commerce, Globalization, Sustainability, Demographics, Political and regulatory risks These are just a few of the many factors that are currently shaping the global market. It is a dynamic and ever-changing environment, and businesses that are able to adapt to new trends and challenges are likely to be the most successful.
Positive Material Identification (PMI) Market Provides High-class Data: - It is true that the global Positive Material Identification (PMI) market provides a wealth of high-quality data for businesses and investors to analyse and make informed decisions. There are many different sources of market data, including government statistics, industry reports, financial news, and market research firms. Some of the key types of data that are available from the global Positive Material Identification (PMI) market include, Economic data, Financial data, Industry data, Consumer data However, it is important to carefully evaluate the quality and reliability of data sources and to use multiple sources of data to gain a more complete understanding of the Positive Material Identification (PMI) market.
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Top Country Data and Analysis: - for United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. It also throws light on the progress of key regional Positive Material Identification (PMI) Markets such as North America, Europe, Asia-Pacific, South America and Middle East and Africa
Description and Analysis of Positive Material Identification (PMI) market: - Positive Material Identification (PMI) Market analysis is the process of evaluating market conditions and trends in order to make informed business decisions. A market can refer to a specific geographic location, particular industry or sector, develop strategies for entering or expanding in a particular Positive Material Identification (PMI) market.
Positive Material Identification (PMI) Market analysis can also involve forecasting future market trends and conditions, based on factors like technological change, regulatory developments, or demographic shifts. This can be used to develop long-term strategic plans and to identify potential risks and opportunities for growth.
Overall, market analysis is an important tool for businesses looking to enter or expand in a particular Positive Material Identification (PMI) market. By carefully evaluating Positive Material Identification (PMI) market conditions and trends, businesses can make more informed decisions and develop strategies that are better aligned with customer needs and Positive Material Identification (PMI) market opportunities.
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Positive Material Identification (PMI) is an analysis of a metal alloy that determines the composition by studying the percentage of its constituent elements.
The Positive Material Identification (PMI) market has witnessed a growth from USD million to USD million from 2017 to 2022. With a CAGR, this market is estimated to reach USD million in 2029.
The report focuses on the Positive Material Identification (PMI) market size, segment size (mainly covering product type, application, and geography), competitor landscape, exact status, and development trends. Furthermore, the report provides strategies for companies to overcome threats posed by COVID-19.
Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market. Moreover, customer preference analysis, market dynamics (drivers, restraints, opportunities), new product release, impact of COVID-19, regional conflicts and carbon neutrality provide crucial information for us to take a deep dive into the Positive Material Identification (PMI) market.
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Market segment by Region/Country including: -● North America (United States, Canada, and Mexico) ● Europe (Germany, UK, France, Italy, Russia and Spain, etc.) ● Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.) ● South America (Brazil, Argentina, Colombia, etc.) ● Middle East and Africa (South Africa, UAE, Saudi Arabia, etc.)
User center of Positive Material Identification (PMI) market 2023
Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, and we elaborate at full length on the impact of the pandemic and the war on the Precious Metals Industry.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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The Global Positive Material Identification (PMI) market is anticipated to rise at a considerable rate during the forecast period. the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Positive Material Identification (PMI) Market -SegmentationAnalysis:
Report further studies the market development status and future Positive Material Identification (PMI) Market trend across the world. Also, it splits Positive Material Identification (PMI) market Segmentation by Type and by Applications to fully and deeply research and reveal market profile and prospects.
Segment by Type● X-Ray Fluorescence (XRF) ● Optical Emission Spectrometry (OES)
Which growth factors drives the Positive Material Identification (PMI) market growth?
Increasing use of is expected to drive the growth of the Positive Material Identification (PMI) Market.
Segment by Application● Oil and Gas ● Metals and Heavy Machinery ● Aerospace and Defense ● Automotive ● Chemicals ● Infrastructure ● Pharmaceutical ● Power Generation ● Scrap Recycling
Which market dynamics affect the business?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
It also provides accurate information and cutting-edge analysis that is necessary to formulate an ideal business plan, and to define the right path for rapid growth for all involved industry players. With this information, stakeholders will be more capable of developing new strategies, which focus on market opportunities that will benefit them, making their business endeavors profitable in the process.
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Positive Material Identification (PMI) Market - Competitive Analysis:
With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.
Please find the key player list in Summary.
Positive Material Identification (PMI) Industry leading players are the ones that have the biggest impact, the most market shares 2023, the best reputation, or the highest revenue within their field they are
Who are the Leading Players in Positive Material Identification (PMI) Market?● Niton (Thermo Fisher) ● PTS Group ● Element Materials Technology ● Sandberg LLP ● TUV Nord ● Acuren ● Intertek ● Bureau Veritas ● ARMI ● TUV Rheinland ● SGS ● Hitachi ● Olympus ● Bruker ● Applus ● TSI Incorporated ● TUV SUD ● Shimadzu ● AMETEK ● Malvern Panalytical ● Shawkor
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Both Primary and Secondary data sources are being used while compiling the report.
Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.
Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.
Please find a more complete list of data sources in Chapters:
1.To study and analyze the global Positive Material Identification (PMI) consumption (value) by key regions/countries, product type and application
2.To understand the structure of Positive Material Identification (PMI) Market by identifying its various sub segments.
3.Focuses on the key global Positive Material Identification (PMI) manufacturers, to define, describe and analyze the value, market share, market competition landscape, Porter's five forces analysis, SWOT analysis and development plans in next few years.
4.To analyze the Positive Material Identification (PMI) with respect to individual growth trends, future prospects, and their contribution to the total market.
5.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
6.To project the consumption of Positive Material Identification (PMI) submarkets, with respect to key regions (along with their respective key countries).
7.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
8.To strategically profile the key players and comprehensively analyze their growth strategies.
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Major Points from Table of Contents
1 Market Overview
1.1 Positive Material Identification (PMI) Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.5 Market Dynamics
2 Manufacturers Profiles
3 Global Positive Material Identification (PMI) Market Competition, by Manufacturer
4 Global Positive Material Identification (PMI) Market Analysis by Regions
5 North America Positive Material Identification (PMI) by Countries
6 Europe Positive Material Identification (PMI) by Countries
7 Asia-Pacific Positive Material Identification (PMI) by Countries
8 Latin America, Middle and Africa Positive Material Identification (PMI) by Countries
9 Positive Material Identification (PMI) Market Segment by Type
10 Positive Material Identification (PMI) Market Segment by Application
11 Positive Material Identification (PMI) Market Forecast (2016-2021)
12 Sales Channel, Distributors, Traders and Dealers
13.2 Data Source
Key Reasons to Purchase● To gain insightful analyses of the market and have comprehensive understanding of the global Positive Material Identification (PMI) Market and its commercial landscape. ● Assess the production processes, major issues, and solutions to mitigate the development risk. ● To understand the most affecting driving and restraining forces in the Positive Material Identification (PMI) Market and its impact in the global market. ● Learn about the Positive Material Identification (PMI) Market strategies that are being adopted by leading respective organizations. ● To understand the future outlook and prospects for the Positive Material Identification (PMI) Market. ● Besides the standard structure reports, we also provide custom research according to specific requirements
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Project management certifications have claimed a place in every top IT certification list for years. That’s because project managers are important to IT operations of all kinds. Whether you are interested in becoming an IT project manager or just want to add project management to your list of soft skills, these five leading certifications will help you add to or boost those skills and, in turn, increase your value.
If there’s a single set of soft skills that’s been fixed on the IT radar for the past decade or so, to the point where it’s become almost as sought after and every bit as valuable as top-level credentials, it must be project management. Thanks in large part to the immensely popular and widely pursued Project Management Professional (PMP) certification from the Project Management Institute (PMI), this area has become an incredibly valuable merit badge for IT professionals of all stripes. That’s because it enhances and expands on the value of just about any other kind of technical credential.
Project management has everything to do with planning, scheduling, budgeting for, and then executing and reporting on projects of all shapes and sizes. In fact, anything and everything that IT does can be understood or handled as a project of some kind. It applies to one-of-a-kind activities that happen only once or very seldom (think hardware or OS upgrades or migrating from older to newer platforms or infrastructures). Ditto for a recurring series of activities that repeat regularly (think security patches, software updates or other regular maintenance tasks). Thus, project management is incredibly important and valuable to IT operations across the board.
According to PMI’s Earning Power: Project Management Salary Survey, 10th Edition [pdf], IT professionals who hold a PMP report median base annual salaries in the U.S. of almost $116,000. The top 25 percent of survey respondents report base salaries of at least $139,000. Depending on such factors as complexity and size of projects, location, fields of expertise (e.g., IT, construction or healthcare), and experience, salaries for some PMP credential holders can be much higher still.
Robert Half’s Technology & IT 2019 Salary Guide lists project management as a hot certification, with salaries varying slightly by technology area. It cites a salary range of $93,000 to $157,500 for project managers in application development environments. Project managers engaged in consulting and system integration roles can expect to earn $96,250 to $163,500 nationwide. This explains nicely why PMP appears in nearly every top 10 list of popular, targeted or most desirable certifications since the early 2000s. It’s no surprise that Robert Half also lists the PMP credential, along with Agile and Scrum certifications, as “highly valued technology certifications” trending up in the IT industry.
To supply you an idea of which project management credentials employers look for in prospective candidates, we conducted a quick survey on some popular job boards. Clearly, the PMP is the overall favorite and remains our No. 1 pick for must-have project management certifications. PMI’s entry-level project management credential, the CAPM, also made our top five. The CSM from Scrum Alliance, along with ASQ’s Certified Six Sigma Black Belt and Green Belt credentials, round out those picks. It’s also worth noting that job postings for project managers increased by 20 percent from 2018 across all project management certifications.
|CAPM (Project Management Institute)||593||718||1,187||381||2,879|
|CSM (Scrum Alliance)||3,550||4,916||9,286||3,052||20,804|
|PMP (Project Management Institute)||13,683||18,311||28,064||9,096||69,154|
The same organization behind the more senior Project Management Professional (PMP) credential also backs the Certified Associate in Project Management (CAPM). In fact, the CAPM is properly considered a steppingstone credential for those who wish to attain PMP status by stages, rather than in a single giant leap. That’s why PMI describes the CAPM as a “valuable entry-level certification for project practitioners” that is “designed for those with little or no project experience.”
The PMP requires three to five years of documented on-the-job project management experience, depending on the educational background of each applicant. On the other hand, the CAPM requires only a high school diploma and either 1,500 hours of documented on-the-job experience (about nine months of full-time work) or 23 hours of project management classroom training prior to taking the exam. The education prerequisite can be met by completing PMI’s Project Management Basics online course which costs $350 for PMI members and $400 for non-members.
Nor does the CAPM require continuing education (which PMI calls PDUs, or professional development units) as does the PMP (60 PDUs every three years) to maintain this credential. To recertify, CAPM holders must retake the test once every five years.
The CAPM is one of a small set of entry-level project management certifications (including the CompTIA Project+) that IT professionals interested in project management might choose to pursue. Remember, though, that it is just a steppingstone to the PMP.
Unless you work in a large organization where a project management team is in place that includes junior as well as senior positions, the CAPM by itself is unlikely to provide a ticket to a project management job. However, it’s ideal for IT professionals for whom project management is a part-time job role or who want to grow into full-time project management.
|Certification name||Certified Associate in Project Management (CAPM)|
|Prerequisites/required courses||High school diploma, associate’s degree or global equivalent, plus 1,500 hours of project management experience or 23 hours of project management education
Certification valid for five years; candidates must retake test to maintain credential.
|Number of exams||One (150 questions; 15 questions are unscored; three hours to complete)|
|Cost per exam||Computer- or paper-based exams:
PMI member: $225 (retake $150)
Nonmember: $300 (retake $200)
Exam available in online proctored or center-based test (CBT) formats.
Exam administered by Pearson VUE.
|Self-study materials||PMI maintains a list of self-study materials on its exam guidance webpage, including the Exam Content Outline [pdf], demo exam questions [pdf] and the CAPM Handbook [pdf].
Numerous books are available, including:
A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Sixth Edition; Sept. 22, 2017; Project Management Institute; ISBN-10: 1628251840; ISBN-13: 978-1628251845 (available for free download to PMI members)
CAPM test Prep, Third Edition, by Rita Mulcahy, Sept. 2013, RMC Publications, ISBN-10: 1932735720, ISBN-13: 978-1932735727
CAPM/PMP Project Management Certification All-in-One test Guide, Fourth Edition, by Joseph Phillips; April 23, 2018; McGraw-Hill Education; ISBN-10: 1259861627; ISBN-13: 978-1259861628
As companies seek to deliver more for less, many adopt Agile methodologies to streamline processes, build quality into products and ensure that final builds meet customer requirements. As Agile methodologies have become more popular, it’s no surprise that we see increased demand for IT practitioners qualified to manage projects in Agile environments.
While different Scrum master certifications are available, our pick is the Certified ScrumMaster (CSM) from the Scrum Alliance. This nonprofit encourages adoption of Scrum and Agile practices, promotes user groups and learning events, and provides resources for professional development. The organization boasts more than 500,000 certified practitioners worldwide.
The Scrum Alliance provides a support system for Scrum practitioners, including Scrum Gatherings, user groups, virtual communications, coaching, online training and much more. In addition to community and advocacy activities, the Scrum Alliance offers numerous Scrum-related certifications at the foundation, advanced, professional, elevated (guide) and leadership levels. Scrum Alliance certifications are designed for team members engaged in Scrum master, product owners and developer roles. The Scrum master and product owner tracks offer credentials at the foundation, advanced and professional levels which the developer track only offers a foundation and professional level cert.
For project managers getting started as Scrum practitioners, the CSM makes an excellent entry-level credential. Not only must candidates demonstrate an understanding of Scrum principles and values, but they’ll learn how to implement and apply Scrum in practice. The Scrum Alliance provides CSMs with multiple resources, plus checklists and information about the servant-leader role of the Scrum master.
Globally recognized, ASQ certifications attest to candidate expertise, mastery of industry and regulation standards, and mastery of the ASQ Body of Knowledge. Currently, ASQ offers 18 credentials, three of which specifically target project management: the Certified Six Sigma Black Belt (CSSBB) (expert level), the Six Sigma Green Belt (CSSGB) (professional level) and the Six Sigma Yellow Belt (CSSYB) (entry level).
The Certified Six Sigma Black Belt is ASQ’s highest Six Sigma credential. The CSSBB aims at experienced practitioners who understand Six Sigma methodologies (including the DMAIC model), tools, systems and philosophies. CSSBBs can lead teams or manage team dynamics, roles and responsibilities.
The path to CSSBB certification is rigorous. In addition to passing a comprehensive exam, candidates must complete two projects that employ Six Sigma tools and processes, resulting in project improvement and a positive financial project impact. An affidavit is also required to attest to the veracity of the project. Alternatively, candidates with at least three years of experience in one or more of the Six Sigma Body of Knowledge areas need only complete one Black Belt project.
CSSBB candidates are expected to demonstrate mastery of the ASQ Black Belt Body of Knowledge, called standards:
The CSSBB is valid for three years. To recertify, candidates must earn 18 recertification units or retake the exam.
|Certification name||Certified Six Sigma Black Belt (CSSBB)|
|Prerequisites/required courses||Two completed projects with signed project affidavit, or one completed project with signed affidavit plus three years of experience in one or more areas of the Six Sigma Body of Knowledge|
|Number of exams||One: computer-based (165 questions, 4.5 hours) or paper-based (150 questions, 4 hours)|
|Cost per exam||$438 members, $538 nonmembers (retakes $338)
Exams administered by Prometric.
|Self-study materials||ASQ maintains a comprehensive list of test prep materials, including training opportunities, question banks, interactive demo exams, books and other recommended references.|
The Certified Six Sigma Green Belt (CSSGB) by ASQ is a professional-level credential targeting experienced Six Sigma practitioners. Often, a CSSGB works under the direction of the more senior CSSBB or as an assistant. CSSGBs identify issues and drive quality and process improvements in projects.
To earn the credential, candidates should have at least three years of experience working with Six Sigma processes, systems and tools. The work experience must have been full time and compensated; an unpaid internship, for example, doesn’t count. In addition, work performed must have been in at least one of the Six Sigma Green Belt Body of Knowledge competency areas.
In addition to work experience, candidates must pass an test that tests their knowledge of the Six Sigma Green Belt Body of Knowledge. Currently, the Green Belt Body of Knowledge includes six competency areas:
Overall, this is an excellent credential for those who have some experience but are not quite ready to take on the roles and responsibilities of a Black Belt.
|Certification name||Certified Six Sigma Green Belt (CSSGB)|
|Prerequisites/required courses||Three years of experience in one or more of the Six Sigma Green Belt Body of Knowledge areas
Experience must be a full-time paid position (internships do not meet the experience requirement)
|Number of exams||One: computer-based (110 questions, 4.5 hours) or paper-based (100 questions, 4 hours)|
|Cost per exam||$338 members, $438 nonmembers; retakes cost $238
Exams administered by Prometric.
|Self-study materials||ASQ maintains a comprehensive list of test prep materials, including training opportunities, question banks, interactive demo exams, books and other recommended references.|
The Project Management Institute (PMI) not only stands behind its Project Management Professional certification, it works with academia and training companies to ensure proper coverage and currency in the various curricula that support this and other PMI credentials. Boasting more than 500,000 global members and 750,000 PMP certified professionals around the world, PMI’s PMP remains one of the most prestigious project management credentials available. (Note: The PMP’s precursor, the CAPM, is covered in an earlier section of this article.)
That’s why you can obtain college- and university-based PMP training from so many institutions. It’s also why you may sometimes find PMP coverage integrated into certain degree programs (often at the master’s degree level).
The PMP credential is coveted by employers seeking the most highly skilled project management professionals. Developed by project managers, the PMP certification is the highest level offered in PMI certifications. It is designed to ensure that credential-holders possess the skills and qualifications necessary to successfully manage all phases of a project, including initiating, planning, scheduling, controlling and monitoring, and closing out the project.
PMP certified projects managers are also well versed and skilled in managing all aspects of the triple constraints – time, cost and scope. Employers depend on the skills of PMP professionals to manage budgets, track costs, manage scope creep, identify how changes to the triple constraints may introduce risk into the project, and minimize such risk to protect the project investment.
The standards for PMP certification are rigorous. Beyond passing a comprehensive exam, credential holders must first demonstrate and certify that they have the skills and education necessary to succeed in the project management field. Credential seekers should be ready to provide documentation for items such as education, projects worked on and hours spent in each of the five project management stages – initiating, planning, executing, monitoring and controlling, and closing out the project.
While it’s difficult to achieve, the rewards for PMP credential holders can be significant. According to PMI’s Earning Power: Project Management Salary Survey, 10th Edition, PMPs in the U.S. earn an average of 23 percent more than their non-credentialed counterparts. The survey reports median salaries of PMPs in the United States at $115,000, as opposed to $92,000 for non-PMP certified project managers.
For those interested in program management or wishing to specialize in a project management area, PMI offers several interesting additional credentials:
The PMP remains a nonpareil certification for IT and other professionals whose responsibilities encompass project management. It is the standard against which all other project management credentials are judged.
It should be noted that, after meeting the prerequisites, candidates are also required to pass a rigorous exam. Candidates must obtain an eligibility ID from PMI before they can register for the exam.
|Certification name||Project Management Professional (PMP)|
|Prerequisites/required Courses||Required courses: None
Prerequisite skills: Four-year degree, 4,500 hours in leading and directing projects, and 35 hours of project management education
Secondary degree (high school diploma, associate’s degree or equivalent), 7,500 hours leading and directing projects, and 35 hours of project management education
Note: Credential holders must earn 60 professional development units (PDUs) per each three-year cycle to maintain certification.
|Number of exams||One (200 questions, 4 hours)|
|Cost per exam||Paper* and computer-based exams:
PMI member: $405 (retake $275)
Nonmember: $555 (retake $375)
*Paper-based test only available if candidates lives more than 150 miles from testing center or if testing center is not available in the country of residence and travel would provide an undue burden.
Exam administered by Prometric. Eligibility ID from PMI required to register.
|Self-study materials||PMI maintains a list of training resources on the PMP test guidance webpage, including links to demo questions, the PMP test Content Outline [pdf] and the PMP Handbook [pdf]. Additional training materials (quizzes, publications, books, practice guides and more) are available from the PMI Store.
Numerous books are available, including:
Guide to the Project Management Body of Knowledge (PMBOK Guide) – Sixth Edition; Sept. 22, 2017; Project Management Institute; ISBN-10: 1628251840; ISBN-13: 978-1628251845 (available for free download to PMI members)
PMP test Prep: Accelerated Learning to Pass the Project Management Professional (PMP) Exam, Ninth Edition, by Rita Mulcahy; Feb. 1, 2018; RMC Publications Inc.; ISBN-10: 1943704040; ISBN-13: 978-143704040
CAPM/PMP Project Management Certification All-in-One test Guide, Fourth Edition, by Joseph Phillips; April 23, 2018; McGraw-Hill Education; ISBN-10: 1259861627; ISBN-13: 978-1259861628
Practice exams: PMP test practice test and Study Guide, Ninth Edition, by J. LeRoy Ward and Ginger Levin; June 28, 2018; Auerbach Publications, ISBN-10: 1138440299; ISBN-13: 978-1138440299
Project management is truly a white-hot area for both certification seekers and employers. Several other project management certifications are available, for general IT project management as well as software development project management.
Honorable mention goes to the Global Association for Quality Management (GAQM) project management certifications, such as the Professional in Project Management, Associate in Project Management and Certified Project Director. The Prince2 Foundation and Practitioner qualifications (featured in the 2017 top-five list) are also excellent credentials and worth honorable mention.
The CompTIA Project+ credential (featured in the 2017 top-five list and honorable mention in 2018) remains a well-known entry-level project management certification for those starting their project management careers. ASQ’s Certified Six Sigma Yellow Belt (CSSYB) is another entry-level credential worth exploring, particularly if you’re interested in eventually moving up to the more senior Green and Black Belt credentials.
Most graduate business, management and management information systems (MIS) programs offer project management training to students, and some offer certificate programs outside the project management organizations as well.
You’ll also find training and occasional certification around various project management tool sets. For example, some Microsoft Learning Partners offer courses on Microsoft Project, and you can find a dizzying array of project management packages on Wikipedia’s comparison of project management software page.
The CAPM and Project+ remain the best-known entry-level project management certifications, with the PMP as the primary professional target and capstone for would-be professional IT project managers. Don’t forget to consider PMI’s related certifications as well. For project managers seeking entry into the realm of Scrum, the CSM is the best entry-level cert for Scrum practitioners.
Whether you’re working on the construction of a building or building a website for a client, you need a way to manage the steps or tasks within a project and collaborate with your team. Project management software helps unify that process by consolidating communication tools, file sharing, task and deadline monitoring, and reporting into one software application that you can use across multiple teams and departments.
Regardless of your business’s size or industry, your company can probably benefit from project management services. Use the advice below to guide your decision-making process when you’re ready to buy project management software.
Project management software is a tool businesses use to keep assignments on track, meet deadlines and remain on budget. These platforms allow company leaders to assign roles, set deadlines and mark major milestones – all in an intuitive interface. With project management software, all employees can access a central portal to obtain information and check the status of assignments.
Project management software works as a real-time virtual workspace that helps keep team members focused on larger goals while effectively managing day-to-day tasks. The best project management software platforms automatically reschedule work when a deadline is missed; some even reschedule work dependent on the completion of the late task.
Although the features of project management software differ among platforms, you can expect to find the following tools and functions in most project management packages.
Did you know?: You or your employees can get a certification in project management to become even more adept at using project management software and keeping projects on track.
The price of project management software varies greatly. There are multiple pricing structures and tiers, ranging from free, entry-level services to premium options that cost hundreds of dollars per month. When evaluating your financial investment, you also may need to consider the costs of training staff on the software and the expense of transferring platforms. The following factors may affect the price of project management software.
Because so many factors influence the final price of project management software, it’s critical to know your needs before obtaining price quotes from vendors.
It’s important to recognize that project management software is designed for full projects that take time and teamwork to complete; they are likely too comprehensive to be worthwhile for routine work. For example, it would be quite helpful to use project management software to set up and configure a computer network, but it would be clunky and confusing to try to use project management software to maintain that computer network.
Ask yourself the following questions to determine whether project management software is appropriate for a project:
“A company needs project management software when they’re coordinating between several individuals or business units, both internally or externally, to complete tasks that involve a variety of deliverables or creatives,” said Conrad Magalis, a marketing advisor with Minnesota MarComm. “It’s a best practice so that all of the information and conversations related to a specific project or task can be documented and delegated to each stakeholder involved.”
Tip: Learn about the different project management styles to figure out which one fits your team and project.
Here are some telltale signs your business needs project management software:
Leveraging a project management solution in the right situation can streamline the entire workflow process, thus enabling your team to deliver higher-quality work in a shorter time. The best software allows you to save and track multiple projects simultaneously, making it easy to monitor deadlines and individual team members’ progress. Essentially, your workload can be saved on a single platform, where each employee has access to all of the information they require to fulfill their own role.
Key takeaway: While it may not be practical for day-to-day assignments, project management software may be necessary if your team struggles to meet deadlines or is overwhelmed by the amount of work.
Project management software often starts with an online dashboard that serves as a home base and provides access to the platform’s major features. From the dashboard, users can typically create new projects and manage and organize old ones. In many project management solutions, the dashboard is also home to an overview of active and completed projects, which users can access at any time. Reporting dashboards can usually be shared across entire teams, giving everyone easy access to relevant projects and tasks.
“Project management software allows users to consolidate work activities onto one central platform, allowing employees to save time by housing all task tools on one interface,” said John Furneaux, CEO of project management company Hive. “The range of software varies from startups – such as Hive – to veteran players like SharePoint. All project management software ranges in their capabilities, and it’s important to assess what the business needs are and how processes could be improved.”
Projects and tasks can typically be created (or requested if a supervisor must approve the project before it begins) directly in a project management dashboard. Once you create a project, you have access to a variety of tools for organizing and coordinating specific aspects of the project and ensuring accountability for the timeliness and quality of assigned tasks.
Team members can also schedule and track tasks and project timelines with the software’s more sophisticated tools, such as Gantt charts. These tools help keep employees on the same page, even if they don’t work in the same physical location, and ease the burden of meeting tight deadlines. Team members can see which tasks are assigned to which person, thus making it easier to coordinate aspects of the project. Some software programs also have built-in chat applications that make collaboration instantaneous and direct.
Project management platforms supply managers full control over the direction of a project. For example, they can reassign work or shuffle around tasks to delegate assignments more equitably among team members and more effectively manage resources on the fly. With the detailed overviews and reports available in project management software, managers can more easily stay abreast of new developments. Any complex project has a lot of moving parts, so it’s essential to keep your decision-makers informed, and that’s what project management software does for your management team.
Project management software provides some big benefits for a business.
Despite the many advantages project management software can provide your team, it can also hold you back in some ways.
Did you know?: Reputable project management apps include Asana Together and Oracle NetSuite.
While most high-quality project management applications offer similar features, no two platforms are precisely the same. Here are the most important points you should consider when choosing project management software.
A large enterprise has different needs from a small startup. It’s important to examine each application and ask vendors the right questions.
“Companies should take the time to demo several options before moving forward, as well as factor in the adoption time for the team and clients to get used to using the application,” Magalis said. “If you’re working in a highly technical field – such as IT – it may be more common than in other industries to have experience with project management applications.”
As your project management needs evolve, you need to know your chosen software can keep up. Perhaps its file storage capacity doesn’t grow as your company does. Or maybe the pricing becomes untenable if your team reaches a certain size. Consider long-term growth factors when choosing your project management software – even if significant growth is years down the line. You want the platform to be able to scale alongside your business.
It can be helpful to identify your current project management challenges. For example, maybe you have trouble sharing timely updates with a client or communicating with your team. By understanding your weaknesses, you can find the software that best addresses your needs.
If you don’t choose a system that’s easy for your team to implement and use, you’ll end up magnifying the challenges you already face.
“Successfully implementing an enterprise project management system is difficult,” said Alan Zucker, founding principal of Project Management Essentials. “This is a cultural [issue], not a tool issue. Most organizations do not have consistent and standard practices for managing projects and reporting on portfolio performance. Something as seemingly simple as having a standard day for reporting status across the enterprise can send shockwaves, as people are used to reporting status on a specific day, usually because of their executive status cadence.”
Key takeaway: Evaluate each project management software platform based on how well it addresses your organization’s biggest pain points. Consider your company’s size as well as the software’s scalability and ease of use.
While companies need to consider financial constraints when buying any new software, they should also take into account the monetary implications of not buying it. Without project management software, your business could be hampered by miscommunication, redundancy and inefficiency – costing you time and money. The services provided by project management platforms are designed to take a company’s workflow to the next level. The investment will likely be worth it when you consider all you stand to gain.
Max Freedman and Stella Morrison contributed to the writing and reporting in this article. Source interviews were conducted for a previous version of this article.
Private mortgage insurance (PMI) is an insurance policy that protects lenders from the risk of default and foreclosure. Generally, if you need financing to buy a home and make a down payment of less than 20% of its cost, your lender will probably require you to buy insurance from a PMI company prior to signing off on the loan. Although it costs extra, PMI allows buyers who cannot make a significant down payment (or those who choose not to) to obtain financing at affordable rates.
One way to avoid paying PMI is to make a down payment that is equal to at least one-fifth of the purchase price of the home; in mortgage-speak, the mortgage's loan-to-value (LTV) ratio is 80%. If your new home costs $180,000, for example, you would need to put down at least $36,000 to avoid paying PMI. While that's the simplest way to avoid PMI, a down payment that size may not be feasible.
In addition, if the value of your home has appreciated to an amount that drops your LTV below 80%, some banks will allow you to submit a request to cancel PMI. However, in this scenario it is likely that the bank would require a professional appraisal to accompany the request, the cost of which is assumed by the borrower.
Another option for qualified borrowers is a piggyback mortgage. In this situation, a second mortgage or home equity loan is taken out at the same time as the first mortgage. With an "80-10-10" piggyback mortgage, for example, 80% of the purchase price is covered by the first mortgage, 10% is covered by the second loan, and the final 10% is covered by your down payment. This lowers the loan-to-value (LTV) of the first mortgage to under 80%, eliminating the need for PMI. For example, if your new home costs $180,000, your first mortgage would be $144,000, the second mortgage would be $18,000, and your down payment would be $18,000.
A final option is lender-paid mortgage insurance (LMPI) where the cost of the PMI is included in the mortgage interest rate for the life of the loan. Therefore, you may end up paying more in interest over the life of the loan.
Once you've had your mortgage for a few years, you may be able to get rid of PMI by refinancing—that is, replacing your current loan with a new one—though you’ll have to weigh the cost of refinancing against the costs of continuing to pay mortgage insurance premiums. You may also be able to ditch it early by prepaying your mortgage principal so that you have at least 20% equity (ownership) in your home. Once you have that amount of equity built up, you can request the lender cancel your PMI.
Assuming you stay current with your mortgage payments, PMI does eventually end in most cases. Once the mortgage's LTV ratio drops to 78%—meaning your down payment, plus the loan principal you’ve paid off, equals 22% of the home’s purchase price—the federal Homeowners Protection Act requires the lender to automatically cancel the insurance.
Scott Gaynor, CFP®, AIF®
KCS Wealth Advisory, LLC, Los Angeles, CA
Several ways exist to avoid PMI:
There are a few things to note about the above options.
With LPMI, the lender pays the PMI cost, but will most likely provide you with a higher mortgage rate. Also, LPMI does not get eliminated like PMI eventually does.
With a piggyback mortgage, buyers can use two loans instead of one (piggyback) to purchase a home. The first is a traditional mortgage loan. The second includes either a home equity line of credit or a standard home equity loan. The second loan covers the remaining amount to obtain the 20% down payment and usually has a higher rate.
The certificate in Project Management will prepare students to be effective contributors and leaders in today’s contemporary business world. Project-oriented work makes up the bulk of managerial activity in today’s organizations with multi-dimensional and increasingly complex projects being the norm. This certificate program will be of interest/value to students and employees of all business functions as project improvement initiatives are prevalent in all business disciplines (finance, accounting, marketing, operations, MIS, etc.).
The free-standing Certificate Program is comprised of nine graduate credit hours consisting of MBA 616, MBA 695, and one of two electives: MBA 617 or MBA 665. Note that the nine credit hours do not include any prerequisites that must be satisfied for specific courses. Prerequisites have equivalent courses offered at the undergraduate level. Transfer hours may be used toward prerequisites but not toward any of the nine credit hours required for the Certificate Program.
MBA 616. Project Management for Professionals. 3 Hours. Project-oriented work makes up the bulk of managerial activity in organizations and consequently knowledge of project management principles is valued highly. This course offers a broad review of issues and approaches to contemporary professional project management useful for any MBA student and future manager. By focusing on the “PMBOK”, i.e., the body of knowledge as specified by the Project Management Institute (PMI), it also builds a foundation for students who wish to take the professional certification test for either the CAPM (Certified Associate in Project Management) or the PMP (Project Management Professional, which requires 4,500 hours of project management experience) certificates.* Prerequisite(s): MBA 611 and MBA 612.
MBA 665. System Analysis & Design. 3 Hours. Introduction to concepts and techniques for analyzing and designing systems. Appropriate activities will be performed and models created for the analysis and design phases of the development life cycle. Systems development project using a CASE tool. Prerequisite(s): MBA 660.
MBA 617. Business Process Improvement. 3 Hours. Study of the concepts and techniques of business process analysis and improvements as building blocks for all business improvement strategies, using a range of tools from simple process-mapping to computer-based process-modeling. Balancing technical/analytical and organizational/behavioral aspects of business process improvements are highlighted. The class will include a business process analysis/improvement project using a process modeling software. Prerequisite(s): MBA 611, MBA 612.
MBA 695. Individual Research - Project Management Experiential Application. 3 Hours. This certificate capstone independent study course requires the student to integrate/demonstrate project management theory and best practices with practical application by working on a real-world client project. Student projects are coordinated with the UD Center for Project Excellence. Students demonstrate through their selected project, their professional application of problem identification (systems analysis/business process analysis), project initiation, planning, execution, monitoring/control and closing. Students work with CPE teams or a student proposed project if approved by the course/CPE director.
*Note: PMI Certification Exams are administered/awarded by the Project Management Institute
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The cost of private mortgage insurance (PMI) is based on the loan amount, the borrowers' creditworthiness and the percentage of a home’s value that would be paid out for a claim. Generally, all companies that sell mortgage insurance price their policies this way. Regardless of the value of a home, most mortgage insurance premiums cost between 0.5% and as much as 5% of the original amount of a mortgage loan per year. That means if $150,000 was borrowed and the annual premiums cost 1%, the borrower would have to pay $1,500 each year ($125 per month) to insurance their mortgage.
Credit scores don't just affect mortgage and homeowners insurance rates, they also affect PMIS. Here is an example of how factors such as creditworthiness impact the cost of mortgage insurance: Consider two individuals who each want to buy a home valued $100,000 and can each put down $10,000 or 10% of the value of the home. Although they can make the same down payment, their credit scores are major determinants when it comes to the cost of their mortgage insurance policies. To show this, we graphed the price difference across credit score silos for a mortgage insurance policy offered by Radian. The policy is for a borrower-paid mortgage insurance policy that covers a fixed rate loan with a term longer than 20 years. You can see that if Borrower A has a FICO credit score of 760 or higher and Borrower B has a score lower than 639, Borrower B’s mortgage insurance premiums would cost 4x Borrower A’s.
In addition to FICO credit scores, companies price PMI premiums according to the loan-to-value (LTV) ratio of a mortgage and what percent of the loan is recovered if a claim is filed. It might sound complicated, but calculating these factors for a policy is easy.
Most mortgages must be insured if they have a loan-to-value ratio (LTV ratio) of 80% to 97%. In other words, if a borrower can only make a down payment between 20% and 3% of the value of a home, they will likely need a mortgage insurance policy. But not all LTV ratios are treated the same. In the table below of a mortgage insurance policy offered by Genoworth Mortgage Insurance Corporation, the difference between LTV ratio and the cost of the policy are clear. The rates are for borrower-paid annual premiums for non fixed rate mortgages and based on LTV ratios, the coverages offered within each ratio, and the cost of the premiums for each PMI policy given the risk pool (the FICO score of the borrower).
The annual premiums are the percentages of the original amount of the mortgage loan in each FICO score column. For example, say a homeowner with a FICO credit score higher than 760 borrowed $100,000 that equated to 92% of the value of the home they purchased. If their mortgage lender took out a policy to cover 35% of the $100,000 loan amount, the borrower's PMI premium would be 2.56% of that amount or $2,560.
95.01 & Greater
90.01 to 95%
85.01 to 90%
Insurance companies also apply price adjustments to the above base rates. Genworth Mortgage Insurance Corporation, for example, offers mortgage insurance and applies several common adjustments that increase and decrease the cost of premiums. Some of the company’s adjustments cut the cost of premiums, such as those for mortgages with an amortization term of 25 or fewer years and for corporate relocation loans. Other adjustments that increase the cost of premiums are for situations in which any loan amount is greater than $417,000 and for mortgages on secondary homes and investment properties.
Below is an example of the five adjustments that have the biggest impact on the base rate of a mortgage insurance policy. Like Genworth, Radian also has adjustments that decrease the cost of a borrower's premium, however those are not included in the chart.
There can be exceptions within the adjustments that carriers apply to premiums. One common adjustment exception is for mortgage insurance premiums in Hawaii and Alaska. Unlike the continental U.S., adjustments to the cost of premiums based on loan amount begin at $625,000 instead of $417,000 in Alaska and Hawaii.
If you're looking for ways to avoid PMI on your first home purchase, there are a variety of methods out there, but beware that many of these might actually cost you more in the long run.
Germany's Rheinmetall raised its sales expectations for 2025, according to Chief Executive Armin Papperger.
The CEO told Stern magazine he expects sales to grow to between 11 billion euros ($11.9 billion) and 12 billion euros in 2025, up from between 10 billion euros to 11 billion euros in November.
Rheinmetall has supplied Ukraine with the likes of air defense systems and military trucks for use in its fight against Russia, and is also involved in the production of the Leopard tanks currently being requested by Ukraine.
Shares of Rheinmetall hit an all-time high in March 2022 and have remained high since Russia invaded Ukraine. Shares hit a session high of $226.50 around 9:30 a.m. London time Tuesday.
— Hannah Ward-Glenton
In contrast to the euro zone's apparent revival in business activity in January, flash PMI (purchasing managers' index) readings from the U.K. Tuesday showed the economy contracted at its sharpest rate in two years.
The S&P Global composite U.K. PMI, which encompasses services and manufacturing, slid to 47.8 in January from 49.0 in December, falling short of a 48.5 consensus forecast in a Wall Street Journal poll of economists.
S&P Global said widespread strike action, staff shortages, export losses, the cost of living crisis and sharp increases in interest rates all combined to squeeze economic activity.
- Elliot Smith
The euro zone economy returned to modest growth in December, according to new flash PMI (purchasing managers' index) readings on Tuesday.
The S&P Global euro zone composite PMI, which encompasses manufacturing and services activity, came in at 50.2 in January, up from 49.3 in December and ahead of a consensus forecast of 49.8.
The index exceeded the 50 mark, which separates expansion from contraction, for the first time since June.
The euro zone's dominant services sector index rose to 50.7 from 49.8 in December, while the manufacturing index improved to 48.8 from 47.8, also surpassing forecasts but remaining in contractionary territory.
- Elliot Smith
Danish stocks were the biggest movers in both directions at Tuesday's open.
Insurance company Topdanmark added 3.7% to lead the Stoxx 600 after its fourth-quarter earnings report and dividend proposal, while hospital equipment maker Ambu fell 4.6% after SEB cut the stock to "sell" from "hold."
Surging inflation may appear largely in the past, but a shift to a 25 basis point hike at the next Federal Reserve policy meeting is a "mistake," according to Allianz Chief Economic Adviser Mohamed El-Erian.
"'I'm in a very, very small camp who thinks that they should not downshift to 25 basis points, they should do 50," he told CNBC's "Squawk Box" on Monday. "They should take advantage of this growth window we're in, they should take advantage of where the market is, and they should try to tighten financial conditions because I do think that we still have an inflation issue."
Inflation, he said, has shifted from the goods to the services sector, but could very well resurge if energy prices rise as China reopens.
El-Erian expects inflation to plateau around 4%. This, he said, will put the Fed in a difficult position as to whether they should continue crushing the economy to reach 2%, or promise that level in the future and hope investors can tolerate a steady 3% to 4% nearer term.
"That's probably the best outcome," he said of the latter.
— Samantha Subin
After more than 2 years of regulatory crackdowns and a pandemic-induced slump, Chinese tech names are back on Wall Street's radar, with one stock in particular standing out as a top pick for many.
Pro subscribers can read more here.
— Zavier Ong
Federal Reserve officials next week are almost certain to approve another deceleration in interest rate hikes while also discussing when to stop the increases altogether, according to a Wall Street Journal report.
The rate-setting Federal Open Market Committee is set to convene Jan. 31-Feb. 1, with markets pricing in almost a 100% chance of a quarter-point increase in the central bank's benchmark rate. Most prominently, Fed Governor Christopher Waller said Friday he sees a 0.25 percentage point increase as the preferred move for the upcoming meeting.
However, Waller said he doesn't think the Fed is done tightening yet, and several other central bankers in exact days have backed up that notion.
The Journal report, citing public statements from policymakers, said slowing the pace of hikes could provide the chance to assess what impact the increases so far are having on the economy. A series of rate hikes begun in March 2022 has resulted in increases of 4.25 percentage points.
Market pricing is currently indicating quarter-point hikes at the next two meetings, a period of no action, and then up to a half-point reduction by the end of 2023, according to CME Group data.
However, several officials, including Governor Lael Brainard and New York Fed President John Williams, have used the expression "stay the course" to describe the future policy path.
— Jeff Cox
European markets are heading for a positive open Thursday, with global investors gauging the global economic outlook.
The U.K.'s FTSE 100 index is expected to open 12 points higher at 7,895, Germany's DAX 77 points higher at 15,482, France's CAC up 21 points at 7,148 and Italy's FTSE MIB up 95 points at 27,299, according to data from IG.
Earnings come from Credit Suisse, Siemens, AstraZeneca, Unilever, L'Oreal and ArcelorMittal.
— Holly Ellyatt