I, and most others, do not ignore the value of PMI, PMBOK or PMP or something else. The issue is that PMP was marketed as best practice where it is not and PMI management has become too focused on the numbers rather than value. By being too commercial PMI is losing many of its volunteers, members, and even PMP. Just look at the statistics PMI publishes numbers of members and PMP are starting to drop and this is a fact and not a opinion. This is also due to the fact that many PMPs are not able to perform at the level "they are marketed and sold" - sorry for these terms but this is the reality everywhere. There are many lawsuites going against PMI as those who are preaching PM have nothing to do with projects and they are too beaurecratic and theoretical (Oliver F. Lehmann, PMP case). In fact, they create lots of confusion by giving unwanted attention to not so important matters and promoting mediocrity, gossiping (they call it communication), mis-communication thru emails/ tables and graphs along with politics and corruption too to cover up their failures.
- The PMP was DESIGNED as an entry level certification.
- The PMP uses multiple choice questions exclusively in its examination, and it does not deduct for wrong answers.
- The passing grade for the PMP started out as 70%, was lowered to 68.5% in the late 1990s, and then lowered again to 61% around 2005 where it stayed until recently when PMI stopped publishing the passing grade.
- The number of questions on the exam started at 320, was reduced to 200 in the late 1990s, and then reduced again to 175 around 2005.
- From the start of the PMP until a few months ago, there was no requirement for experience as a project manager.
- From the start of the PMP until about 2005, there was no experience requirement that even implied the need for experience as a project manager.
- PMI verifies the experience of less than 10% of applicants, and when it verifies experience, it does not assess the quality of that experience. In other words, there is no assurance that any PMP has ever managed a project successfully.
- The first time pass rate for native English speakers who take an exam prep course is around 95%. The first time pass rate for non-native English speakers is substantially lower and is about 65%.
- PMI does not publish statistics on pass rates.
- Some candidates lie on their applications because some organizations require the PMP for them to get an interview.
Then, what is so alarming? Is anyone employable and worthy of respect solely by virtue of holding a PMP? NO. There are reasons. My experience is that these PMPs are contributing more to project failures than success beacuse their lack of real/domain knowledge, basic understanding and inability to appreciate the figures in the PM tempelates and decisions in critical matters.
What I recommend: Develop a set of criteria that are appropriate to your specific project needs. There is no such thing as a general competence or competency in project management. So make sure that the person's traits match your project's requirements.
A person who may be patient, may be the needed manager for one project, but slow down another one too much. A great group leader may be bad in documentation, a person who is nitpicking on forms and templates may de-motivate a team. Make sure the person has a sound level of knowledge. There are various certifications that test that, but you can also develop your own tests, of course.
I am in the favor of a domain specific project management - I wonder how a "generic" PM who does not have any domain experience would understand and manage any project on the basis of some PM tempelates. I also think that a PM with no domain knowledge might do well if you use an automated process that can provide him the necessary metrics - s/he wouldn't have to worry about collecting build times, number of errors, number of failed tests, the most problematic component - component taking the most time, etc. - s/he will get all that automatically through the automated process. So, in my opinion, you should look for a candidate who has the necessary technical experience as well - in addition to project management experience.
No certification guarantees leadership and project success. And no certification exam can test discipline and stamina, two major traits of very good project managers. And be prepared to find in the end that there are no guarantees in project management. Those who promise that probably have their own "Agendas" and they definately dont know what is your project.