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Topics: Construction, Cost Management, Estimating, Using PMI Standards
Do you think it will be a good idea if PMI introduces a new certifcation for Cost & Estimation ?
What is your opinion on this ? For example if they name it PMI-ECP or PMI-CEP (Cost & Estimation Professional).
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Wow great minds think alike, I was just thinking that after posting about the Scrum/Kanban certifications. Estimation is such a huge field with a lot of contention (just ask Sergio lol). I think in many ways estimating is just as important if not more than scheduling, and they already have a certification for that. But more numbers, formulas and calculations? Man it's driving me crazy.
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1 reply by Rami Kaibni
Apr 11, 2018 12:14 PM
Rami Kaibni
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The field of Estimation, Cost & Value Engineering is a huge one and applicable to all industries, businesses and even on a personal level so if a highly reputable organization like PMI offers such a certification then I believe it will gain interest and this interest will spread like fire in a wild bush just like ACP is.

The only reputable cost certification I am aware of is offered by AACE Intenational and called CCP (Certified Cost Professional).
PMI is working on a new version of the actual practice standard related to estimation. The standard will be published this year. As you know estimation included all related to any type of estimations inside the project (costs for example). I am part of it. But I do not know about a certification. If you ask me, creating an standard or a certification on the field has no sense. Why? Because there are a lot of well documented methods and variances outside there from 1960. But as any other things people do not know or take the less effort way. The problem with estimation is not the methods. The problem is the attitude to manage all the process mainly when the estimations must be published and must be presented for acceptance. As you know, usually the first answer for top management is "no way" and that is the natural answer to receive because they have a need to be satisfy and by definition of need you will always receive that answer.
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1 reply by Rami Kaibni
Apr 11, 2018 1:13 PM
Rami Kaibni
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Sergio, thanks for the information. I am glad to hear that there is a new estimation parctice standard that will be issued soon.

What you mentioned makes sense but people look at things differently especially in different countries. Like I mentioned below, I assure you that such certification will be highly desirable in regions like the middle east and gulf region.
I think it will be the best to go
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1 reply by Rami Kaibni
Apr 11, 2018 12:15 PM
Rami Kaibni
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I agree with you.
Rami -

You are just trying to get my "Captain Picard Double Face Palm" reaction :-)

I believe there might be similar credentials already offered for this in the construction space by other associations but regardless, I don't think there would be sufficient demand within PMI's membership to justify launching this, and it is such a specialized competency that I can't see it being heavily referenced in mainstream job posts.

Kiron
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1 reply by Rami Kaibni
Apr 11, 2018 12:19 PM
Rami Kaibni
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Hmmmmm ... Captain Picard :D

I beg to differ little bit with you and of course this is based on my international eperience in the far east, middle east & the gulf region. Such certifications are in high demand (Probably for the time being a bit more than PgMP, ACP & PfMP, PBA) and as I said to Sante, I am aware of one highly reputable certification related to cost offered by AACE International. I also know that PMI is well known and their certifications are highly desirable so if they introduce a certification like this, you might be surprised how much interest it will gain (If the fee is reasonable).
Apr 10, 2018 9:08 PM
Replying to Sante Vergini
...
Wow great minds think alike, I was just thinking that after posting about the Scrum/Kanban certifications. Estimation is such a huge field with a lot of contention (just ask Sergio lol). I think in many ways estimating is just as important if not more than scheduling, and they already have a certification for that. But more numbers, formulas and calculations? Man it's driving me crazy.
The field of Estimation, Cost & Value Engineering is a huge one and applicable to all industries, businesses and even on a personal level so if a highly reputable organization like PMI offers such a certification then I believe it will gain interest and this interest will spread like fire in a wild bush just like ACP is.

The only reputable cost certification I am aware of is offered by AACE Intenational and called CCP (Certified Cost Professional).
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1 reply by Sante Vergini
Apr 11, 2018 5:49 PM
Sante Vergini
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And you forgot the most important part Rami, more letters, cmon ;-)
Apr 11, 2018 6:42 AM
Replying to Kevin Drake
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I think it will be the best to go
I agree with you.
Apr 11, 2018 6:47 AM
Replying to Kiron Bondale
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Rami -

You are just trying to get my "Captain Picard Double Face Palm" reaction :-)

I believe there might be similar credentials already offered for this in the construction space by other associations but regardless, I don't think there would be sufficient demand within PMI's membership to justify launching this, and it is such a specialized competency that I can't see it being heavily referenced in mainstream job posts.

Kiron
Hmmmmm ... Captain Picard :D

I beg to differ little bit with you and of course this is based on my international eperience in the far east, middle east & the gulf region. Such certifications are in high demand (Probably for the time being a bit more than PgMP, ACP & PfMP, PBA) and as I said to Sante, I am aware of one highly reputable certification related to cost offered by AACE International. I also know that PMI is well known and their certifications are highly desirable so if they introduce a certification like this, you might be surprised how much interest it will gain (If the fee is reasonable).
Apr 11, 2018 5:23 AM
Replying to Sergio Luis Conte
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PMI is working on a new version of the actual practice standard related to estimation. The standard will be published this year. As you know estimation included all related to any type of estimations inside the project (costs for example). I am part of it. But I do not know about a certification. If you ask me, creating an standard or a certification on the field has no sense. Why? Because there are a lot of well documented methods and variances outside there from 1960. But as any other things people do not know or take the less effort way. The problem with estimation is not the methods. The problem is the attitude to manage all the process mainly when the estimations must be published and must be presented for acceptance. As you know, usually the first answer for top management is "no way" and that is the natural answer to receive because they have a need to be satisfy and by definition of need you will always receive that answer.
Sergio, thanks for the information. I am glad to hear that there is a new estimation parctice standard that will be issued soon.

What you mentioned makes sense but people look at things differently especially in different countries. Like I mentioned below, I assure you that such certification will be highly desirable in regions like the middle east and gulf region.
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1 reply by Sergio Luis Conte
Apr 12, 2018 10:11 AM
Sergio Luis Conte
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I think that getting lot of certifications jeopardizes the intention to make project management a profession. For example, certifications like program and portfolio and standards like program and portfolio has no sense. When you read them you notice they have no consistence (take into account I was part of reviewing both standards so I am not making this comment as a concern only). That was the case with OPM certification. In fact, in my personal opinion, we need to help organizations to clarify the type of needs you are talking about. Both has no sense and if some organization is requesting that is because has not idea about what cost management and estimation management is.
Apr 11, 2018 12:14 PM
Replying to Rami Kaibni
...
The field of Estimation, Cost & Value Engineering is a huge one and applicable to all industries, businesses and even on a personal level so if a highly reputable organization like PMI offers such a certification then I believe it will gain interest and this interest will spread like fire in a wild bush just like ACP is.

The only reputable cost certification I am aware of is offered by AACE Intenational and called CCP (Certified Cost Professional).
And you forgot the most important part Rami, more letters, cmon ;-)
...
1 reply by Rami Kaibni
Apr 11, 2018 5:51 PM
Rami Kaibni
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True True - No Letters are always good as long as they are meaningful :D
Apr 11, 2018 5:49 PM
Replying to Sante Vergini
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And you forgot the most important part Rami, more letters, cmon ;-)
True True - No Letters are always good as long as they are meaningful :D
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1 reply by Sante Vergini
Apr 11, 2018 6:14 PM
Sante Vergini
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I saw a funny blog once about someone complaining about people with many letters (probably because they had none). Anyway, at the end of the post they had their name and added fictitious titles like AA, ABB, ACCA, ABAA, AAZ just to show (in their opinion) that letters don't mean anything. But we letter collectors know better right? ;-)
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