PMI meaning in project management
PMI stands for the Project Management Institute, a not-for-profit professional membership association for project managers and program managers. PMI was started in 1969 and now has a membership of more than 2.9 million professionals worldwide.
The PMI is the organization that gives out the PMP (Project Management Professional) credential. This globally recognized certificate assures employers that a person is trained and qualified to manage projects. PMI is also the organization that oversees the documentation of the Project Management Body of Knowledge (PMBOK) within the PMBOK Guide, driving a growing global community of professionals dedicated to excelling in project management practices.
With Wrike, you can amplify your project management skills to meet PMI’s standards.
History of PMI
The Project Management Institute (PMI) arose out of a dinner held in early 1969 in the U.S. state of Pennsylvania. At the dinner, Jim Synder and Gordon Davis recognized the necessity for a formal association to support the project manager’s role. PMI’s genesis marked a significant event in the history of solidifying the skills of project managers.
Over the decades, PMI has evolved into a beacon for the project management profession, driving advances in educational technology and project management. The organization has expanded to include hundreds of chapters across continents, offering extensive training programs, certification paths, and professional development opportunities. Members around the globe engage in PMI’s mission to advance the practice, science, and leadership in various types of projects, from IT to construction and healthcare.
PMI founders
The Project Management Institute (PMI) was founded by five individuals: James Snyder, Gordon Davis, Eric Jenett, E. A. Engman, and Susan C. Gallagher. They were driven by the community’s vision to foster knowledge sharing and standardized approaches to project management.
The founders focused on building a repository of project management knowledge and creating a vibrant, engaging community that would grow to include project managers from all over the world.
Common benefits for project managers
Being associated with the Project Management Institute (PMI) offers numerous advantages for project managers. Membership provides an invaluable network of peers, mentors, and experts across industries. This network is a rich resource for collaboration, insight, and knowledge sharing, enabling project managers to learn from others’ successes and challenges.
PMI membership also offers access to cutting-edge project management resources. These include online courses, webinars, and the latest editions of the PMBOK Guide, which encapsulate a wide range of new and evolving project management practices and methodologies. Members also benefit from discounts on certification exams and free downloads of industry-standard resources.
Another significant benefit is the enhancement of project management career opportunities. Project managers associated with PMI are recognized for their commitment to excellence, adherence to global standards, and continuous professional development. This recognition often translates into higher earning potential and greater career advancement prospects.
Experience the benefits of powerful project management with Wrike.
Why is PMI certification important for project managers?
A PMI certification, such as the Project Management Professional (PMP) or the Certified Associate in Project Management (CAPM), is recognized worldwide as a sign of a qualified and competent project manager.
The PMP in particular is regarded as a global standard for project management excellence and is a fundamental credential that empowers project managers to maximize project success more effectively. This certification ensures that the project manager has met rigorous educational and experiential standards and adheres to an internationally recognized standard of ethics and professional conduct.
The importance of PMI certification extends beyond individual benefits. It promotes a standardization that helps organizations ensure their project leaders practice the latest project management methodologies and best practices.
Overview of PMI certifications
The Project Management Institute (PMI) offers certifications tailored to multiple aspects of project, program, and portfolio management. This includes the PMP (Project Management Professional), PgMP (Program Management Professional), and specialized certifications such as:
- CAPM (Certified Associate in Project Management), which is designed for individuals entering the field of project management
- PMI-SP (Scheduling Professional), which focuses on project scheduling management
- PMI-RMP (Risk Management Professional), dedicated to advancing skills in project risk management
- PMI-ACP (Agile Certified Practitioner), which caters to professionals practicing Agile techniques in their projects
- PfMP (Portfolio Management Professional), which enhances the competence of portfolio managers to manage multiple portfolios strategically aligning with organizational goals
- PMI-PBA (Professional in Business Analysis), which is designed for project managers who focus on business analysis
Benefits of PMI certification
PMI certification prepares managers to handle the demands of projects of all sizes and complexities through rigorous training and examination. It covers essential project management topics, including but not limited to risk management, Agile methodologies, and resource allocation.
Certified Project Management Professionals (PMPs) are recognized for managing projects efficiently from inception to completion. This includes managing time, costs, scope, and quality, ensuring that projects meet the predefined objectives while maximizing resource utilization and maintaining stakeholder satisfaction.
PMI certification provides access to many project management resources and continuing education opportunities. This includes subscription-based resources, professional development seminars, and exclusive member services that support ongoing learning and skill development.
Employers also recognize the value of a PMI certification — such as the PMP — as it reflects an individual’s dedication to mastering the skills necessary to lead projects successfully.
PMI sets the standard in project management. Ready to meet these standards with the best tools?
How does PMI help project managers excel in their profession?
PMI’s guidance and standards, as detailed in the Project Management Body of Knowledge (PMBOK Guide), equip professionals with the necessary tools to manage projects effectively through proven PM practices.
Maximizing project success through PMI practices
The principles of PMI include comprehensive project planning, effective communication strategies, risk management, and quality control processes that align with global standards.
Project managers can increase the likelihood of project success by adhering to PMI’s practices. This is achieved by applying disciplined project management processes designed to reduce risks, cut costs, and improve outcomes.
Guidance on project management best practices
PMI offers extensive guidance on project management best practices through its vast array of educational resources and development opportunities. This guidance covers initiating and planning projects, executing plans efficiently, monitoring progress, and effectively closing projects.
PMI’s resources help project managers identify the best ways to allocate resources, manage time frames, and meet stakeholder expectations.
What resources does PMI provide to project managers?
The Project Management Institute is dedicated to advancing project managers’ skills and knowledge by providing a suite of best-in-class resources in the project management industry.
Knowledge-sharing opportunities within the PMI community
PMI provides knowledge-sharing opportunities through its conferences, webinars, and chapter meetings, which are invaluable for staying abreast of industry trends and innovations. These events serve as platforms for project managers to exchange ideas, learn from industry leaders, and bring back valuable insights to their projects and teams.
It also offers support via online community and forums. These platforms enable members to discuss specific project challenges, seek help, and share their experiences with a global network of peers. This knowledge sharing is invaluable for novice and experienced project managers looking to enhance their practical skills and understanding of complex project scenarios.
Moreover, PMI emphasizes the need for continuous education and maintains a curriculum that supports educational technology and leadership development.
Access to best-in-class project management resources
PMI provides its members access to best-in-class project management resources essential for successful projects. These resources include the PMBOK Guide, which provides a comprehensive framework that covers key areas such as project initiation, planning, execution, monitoring, and closing.
The education programs offered by PMI are designed to help project professionals excel in project management practices and prepare them for any type of project across industries.
PMI offers digital tools and templates that streamline project processes, helping managers plan, execute, and monitor projects more efficiently.
It also publishes a wide range of case studies and whitepapers that provide deep insights into the challenges and solutions encountered in real-world projects. These materials are vital resources for those looking to maximize project success and are commonly regarded as essential for professional certification preparation.
Wrike Discover is now an authorized training partner of PMI. Learn more here or get started right away with a free two-week trial.
Artem Gurnov
Artem is a Director of Account Development at Wrike. He previously held the role of Project Manager, overseeing a team of customer success managers (CSMs). Over the years of building teams and scaling business processes, he has successfully deployed multiple projects, from automating client outreach to setting up work prioritization tools for sales reps and CSMs.