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Wednesday, January 8, 2014

The Talent Crisis : Dealing with scarcity of Project Management Skills among Management Graduates

India - the developing economy. There is big push for urban and rural infrastructure development throughout the sub-continent. A year back there are around  600+ public sector infra projects undergoing with an whopping estimate of over 150 crores.

50% of project failure is traced to poor (or no) project management:
  • Bad estimates/deadlines
  • Scope changes
  • Poor resource planning

In India, Educated but Unemployable Youths; Graduates Finds Schools Don’t Foster Skills Needed for Fast-Changing Economy

Only 25 per cent of our engineering graduates, 15 per cent of our finance and accounting professionals and 10 per cent of professionals with any kind of degrees, in India, are suitable for working in multinational companies.
 
Only one in four engineering graduates in India is employable, based on their technical skills, English fluency, teamwork and presentation skills and of the 4 lakh odd engineering graduates, who graduate each year, only about 20% is good enough for India Inc
 
Only 25 per cent of our engineering graduates, 15 per cent of our finance and accounting professionals and 10 per cent of professionals with any kind of degrees, in India, are suitable for working in multinational companies.


Solution - CAPM (Certified Associate in Project Management)



• CAPM certification is an unique positioning for students. It acts as a passport to industry.

The Institutes which offer job ready courses for the students gets better pull at the time of registrations. Positioning of PM as industry ready course is one of the key pitch to the students.

Better Placement / Hiring Proposition

Since a CAPM certification is one of the key job skill the prospective organizations pick up people who are better equipped with work- ready skills.

Unique Opportunity for Institutions, as there are very few institutes which has PM syllabus per PMBOK. PM practice in industry is as per PMBOK.
 

Information Sources:
McKinsey and Company
PWC Survey
May 2011 Flash Report Min of Statistics & Programme Implementation
Source: FICCI Study : Project Management in India, Insights from Six Key Sectors
Project Management Institute PMI

7 important things to know about PMP


 

1. PMP is industry agnostic and the acquired knowledge can be applied to any industry sector

2. Getting PMP certification may not yield any (substantial) gains but not going for it have its own woes 

3. The PMBOK provides excellent coverage of PM discipline. The subject matter coverage is superior than PRINCE2.  Though both have different application areas and philosophy thus direct comparison may not be possible

4. Some people say its theoretical and boring but its not when you start co-relating the real world experience. Its very much applied skill which can be applied everywhere.

5. Whatever you learn from PM preparation not necessarily you will able to apply in real life, but not knowing the PM knowledge areas could put you in jeopardy 
6. While embarking on PMP journey, the very first thing one should do is, "Prepare a PMP Project Plan"
7. Exam is all about testing and validating professional PM experience
 

Disclosures - PMP is a trademark of Project Management Institute