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The PfMP (Portfolio Management Professional) exam is designed to test an individual's skills and knowledge in the field of portfolio management. Passing this exam requires a thorough understanding of the exam objectives and the topics covered, as well as the exam process itself.
Exam Objectives:
- Strategic alignment
- Governance
- Portfolio performance
- Portfolio risk management
- Communications management
The exam focuses on the above five objectives, which encompass various subtopics related to portfolio management. To pass the exam, it is crucial to have a solid understanding of each of these objectives and their related subtopics.
Related Books:
- The Standard for Portfolio Management
- Portfolio Management: A Strategic Approach
- Portfolio, Programme and Project Offices
- Project Portfolio Management: A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits
These books can be helpful in preparing for the PfMP exam, as they provide comprehensive coverage of portfolio management topics and are aligned with PMI's exam objectives.
Exam Details:
The PfMP exam is a computer-based exam, consisting of 170 multiple-choice questions. Candidates have four hours to complete the exam. The passing score for the exam is not published by PMI, but it is estimated to be around 62-68%.
The exam costs $1,500 for PMI members and $1,800 for non-members. It can be taken at any Prometric testing center or online through PMI's Online Proctored Testing option. The exam is offered in English and can be scheduled at any time throughout the year, subject to availability.
It is important to note that PMI has certain eligibility requirements for taking the PfMP exam. Candidates must have at least eight years of professional business experience, including four years of portfolio management experience, and a secondary degree (high school diploma, associate's degree or equivalent) or higher. Alternatively, candidates can also have a bachelor's degree or higher, with six years of professional business experience, including four years of portfolio management experience.
Overall, passing the PfMP exam requires a solid understanding of the exam objectives, as well as the ability to apply that knowledge to real-world scenarios. By utilizing the resources available, including the related books and exam preparation courses, candidates can increase their chances of passing the exam and becoming a certified Portfolio Management Professional.
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