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Susan
I agree and disagree with Kiron and Veronica as this is too much generalizing. There isn't something called "Too many certifications" because the certification is as good as it's journey and it is merely an indication that someone do poccess indepth knowledge in a certain topic or field but certainly doesn't prove competency. Competency and effectivness are proven when you walk your talk on ground.
Not every certificate attained needs to be measured against ability as some people enjoy learning about new topics. For Example: I recently took the IIBA Cyber Security Analysis certification with IIBA and I can't begin to tell you how much I've learned from it while it doesn't fall within my alley of expertise, yet, it did add lots of value:
1) Will I ever consider applying for a Cyber Security Analyst post or put this as a competency in my resume ? Certainly Not.
2) Will I be able to make sense of technical terms and issues as they arise and talk common language with Cyber Security Analysts and consider Cyber Security requirements during requirements gathering and analysis ? Absolutely YES. That's the value right here.
I will give you a few scenarios to differentiate between when a certification can be a valuable metric and when not:
1) If the purpose of possessing the certifications is just being certified, collecting badges and adding letters after your name then yes, at some point, this becames a vanity metric.
2) If you are acquiring certifications that ask for experience while you don't have this experience and you think you are cheating the system then I assure you that you are cheating yourself and this also becomes a vanity metric.
3) If you are pursuing a certification because it's trending, then that's a vanity metric.
4) If your purpose is to pass the exam only without deep understanding of the material then that's a vanity metric as well.
BUT
5) If you are an experienced professional and a life long learner who attains certifications for the purpose of learning, and as part of your commitment to the profession then this is a valuable metric.
It is the journey that matters, not the certification itself and what matters most is how you put this in practice afterwards. The knowledge you gain from your experience is limited to that experience but in today's world, in order to grow, you need to go above and beyond and to a certain degree be a generalizing specialist. I have more than 40 reputable certifications from globaly recognized organizations and I can assure you that I did benefit from each and everyone I attained.
The world is evolving rapidly and we have to stay up to date to ensure we grow with the world's growth so professional development is becoming a necessity more than option and this can be done through courses, webinars, self-reading and certifications.
I recently wrote an article about the "Added Value of Professional Development" which was published in the PM World Journal (I can share it with you if you are interested) and I am also speaking about the same topic in the PMO Impact Summit 2020 this coming October.
RK