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A PMP is superior to a Masters in Project Management. A PMP represents at least 7,500 hours of actual experience leading and directing projects, as well as an objectively assessed degree of theoretical knowledge. In contrast, a Masters in Project Management is almost purely theoretical knowledge.
Consider this: Would you rather have open heart surgery performed on you by someone who has done it many times, or by someone who has merely read a great deal about it?
Are not matter of comparission at all. I could write a lot but is better if you go for both definitions. The definition of PMP certification inside the PMI website and the definition of Master inside others.. And Eric, sorry but you are not right. Project management is not a formally defined profession so the certification has not sence when somebody needs to perform a legal action just in case one project manager perform "bad practice" in some initiave.That is not the case for medicine.
I agree with Eric, within certain guidelines. Let me frame it in terms of the Agile Manifesto:
When it comes to hiring criteria, I have come to value
Experience over Education
That is, while there is value in education, I value experience more.
To further this approach, the combination of experience and education is one of the factors that differentiates one person from another. You want a heart surgeon that has both experience and education. A Project Manager with both education and experience is more likely to be a stronger Project Manager than one with only education or experience.
Regarding your question of the PMPs equivalency to a Masters, I doubt that an accredited university would recognize such a thing, and PMI is not accredited to do such. A PMP requires a specific amount of Project Management education. A Masters Degree in Project Management does require specific Project Management classes; possibly enough to satisfy the education requirement for the PMP. But it also requires significantly more classes in other fields.
They are not equivalent, and whether or not one is more valuable than the other depends on what you are trying to accomplish. A PMP could not qualify you to enroll in a PhD program, for example, whereas a Masters degree from an accredited university could.
It depends on the use of both. If you are comparing both in terms of benefit you will receive career-wise then Yes PMP is superior to most of the available Master degrees out there as it represents a successful application of actual experience. In terms of expanding your academic knowledge and having a more solid understanding of certain PM subject/materials/terms ... etc, then a Master would give the better outcome.
My advice is to go for both.
what about PgMP ??!! my colleagues
You simply cannot compare a certification with a degree. It's an apples to oranges comparison. Certainly one might be more useful to an individual than another in a given context, but the cost, level of effort and non-financial benefits of any masters degree (thesis or non-thesis) would be greater than those of a certification.
Not the same thing, like Kiron said Apples to Oranges.
How much time monthly are you willing to put? When do you want it completed? Do you have experience?
From regulatory point of view PMP is just a certificate and MASTER or PhD is a degree. This is my understanding.
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