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Outlook on PMP after July 1, 2020:
I calculated business training costs and found that I would need to train at least 10 attendees at $1,500 per person to come out just even, aka zero net profit. And 100 attendees per year to make any decent money. Big businesses will have to pack 150 attendees per year to make 20% profit.
What will happen:
* Only few firms will remain on the market - charging $2K - $3K per attendee
* The firm's costs are creating a funnel for the firm to pack as many as possible into one training room. Thus the bigger class size the less they will learn. Most classes will revert to a boot camp to cram as much material as possible. The supposed quality of the training materials will not solve the problem of the quality of the training.
* The few who will not pass PMP before July 1st, 2020 will be left out to find another valuable certification
There are some individuals here that provide training. They'll be able to jump in here and provide some insights.
I know Registered Education Providers have been involved in the upcoming change. That should reduce the period between the new exam going live and adjusted training being available.
I agree with Stephane
Suffice it to say that the changes to PMI's training partner program are not generally being well received.
There is a dedicated LinkedIn discussion group for PMI's Registered Education Providers and it has been blowing up with concerns and frustration being expressed by multiple quality training organizations who feel that PMI is not following good change management and stakeholder engagement practices with their changes to the program.
I don't want to use this community as a soapbox but a few of the changes which have raised concerns are:
1. As part of the program, training companies MUST use PMI's PMP prep materials vs. their own. Companies which had invested thousands in developing good intellectual property won't be able to use it if they remain part of the program.
2. The costs of the program have significantly increased and are not aligned with those of the PMI/DA partner program.
3. PMI is requiring that trainers MUST go through their train-the-trainer program vs. being trained in-house within a training organization
As such, I don't believe the new exam is the catalyst for impacting the training business but rather the changes to the training partner program which go into effect at the same time as the new exam.
My expectation is that a number of REPs will not choose to renew under the new program, especially smaller providers in countries outside of the U.S. who will find it is not cost effective for them to do so.
I absolutely agree with you Kiron as these concerns are many and legitimate.
Over the years several organizations have invested a lot in creating and tailoring their materials to deliver great value to learners and with the new rule, Authorized Partners cannot engage in any online training program apart from that of PMI.
All trainers are to join a train-the-trainer program by PMI before they can facilitate PMP classes and freelance trainers cannot be trained independently except they come under an Authorized Partner.
I believe it can be done in a better and more accommodating way.
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