For those with a talent for delivering projects on time and to budget, finance project management is a rewarding career path to explore. But which are the best qualifications to earn if you want to transition into a financial project management role?
Updated on: 29th October 2019
In this blog post, we explore how earning your PMP and PRINCE2® will empower you to move into, and excel in, financial project management. Read on to learn how to supercharge your career as a financial project manager.
What does a finance project manager do?
Financial project management refers to the planning, implementation, and monitoring of projects within a company’s finance department.
When a process or system needs changing to make a finance department more efficient, a financial project manager is responsible for making that change happen. It is their role to take an idea and see it through to completion, using rigorous project management processes to do so effectively.
Financial project managers develop project plans, manage budgets, and oversee the work of others. They ensure tasks are delivered on time, to the standard required, and within budget.
Skills a finance project manager needs
To succeed in their role, a finance project manager needs the following skills:
- Project planning skills
- Budget planning and management skills
- A strong understanding of project management methods
- Ability to brief in tasks and manage the quality of other’s work
- Time and deadline management skills
- Communication and people management skills
- Project reporting skills
- Project analysis skills
What is PMP?
PMP stands for Project Management Professional qualification. Recognised throughout the project management industry, PMP is a global certificate. It empowers you to work as a project manager in any sector, including finance, anywhere in the world.
On average, project managers with a PMP earn 20 percent more than those without the qualification. This difference in salary demonstrates that businesses recognise the value in employing PMP-qualified project managers who deliver projects which meet goals, on time, and to budget.
What is PRINCE2®?
First developed by the UK government to ensure the successful delivery of IT projects, PRINCE2® stands for “projects in a controlled environment.” Valued in finance, tech, and beyond, PRINCE2® is a robust project management qualification that is trusted by companies worldwide.
PRINCE2® is based on a series of principles and processes that empower project managers to manage projects effectively. Far from being a one-size-fits all methodology, PRINCE2® can be adapted to the needs of different projects.
How the PMP and PRINCE2® will benefit you
Investing in your PMP or PRINCE2® will give you the skills needed to succeed as a finance project manager. You will learn how to plan projects, brief in and oversee tasks, and control budgets closely to show real value to the business you work for.
Particularly valued in finance and tech, both qualifications are recognised by many other industries. Should you choose to move away from finance later in your career, your qualification will allow you to do so.
Studying either the PMP or PRINCE2® will ensure that you speak the same language as project managers across the globe. Both qualifications give you a strong grounding in project management methodology, which you can apply in real-life project environments.
Gaining your PMP or PRINCE2® lays the foundations for a successful and rewarding career in project management. Applying the principles and processes that you will learn will enable you to deliver successful outcomes on every project you deliver.
If your current role already involves an element of project management, studying for your PMP or PRINCE2® could help you earn a promotion. Learning People student Mo Azim earned a £10,000 pay rise after gaining his PRINCE2®.
Earning your PMP or PRINCE2® is a smart way to accelerate your career as a finance project manager. Both qualifications are trusted by finance departments in companies across the globe.
Studying either PMP or PRINCE2® will make you a more effective finance project manager. The skills and confidence you’ll gain will enable you to deliver more value through every project you work on; empowering you to earn your next pay rise or promotion.
Get in touch with one of our expert career consultants today to find out more.