Project Management in the Actuarial Skillset
Rebecca von der Heide, Actuary and Manager at Cominia Actuarial Services GmbH, shared with actupool her ambitious decision to become a Project Management Professional (PMP) and her experiences during and after this successful training.
Rebecca, in addition to your actuarial training, you also obtained the Project Management Professional (PMP) certification. What motivated you to take this step?
I have a keen interest in project management and wished to gain a deeper insight and knowledge in this area. Project management is a broad field and I believe it's important to acquire structured knowledge when actively participating in projects on a regular basis.
What was the qualification process like, especially alongside your work as a consulting actuary?
I chose to do the certification with a specialised training provider. The programme started with an intensive one-week seminar, followed by an additional 50-100 hours of self-study, which was essential to prepare adequately for the final exam. While Cominia provided support, it was challenging to fit the training around my role as a consulting actuary; my self-study sessions took place in the evenings after work.
What new professional opportunities does this expanded skill set offer? Will you be able to add more value to your consulting services to clients or take on additional responsibilities at Cominia?
Through this certification, I've built structured knowledge in project management and gained a comprehensive toolkit to manage projects successfully. I've also internalized the latest mindset promoted by PMI, giving me a better grasp of the “language” of project management. As a result, I’ll be able to approach future projects more systematically and efficiently, delivering clear added value both for our clients and for Cominia.
With this experience in mind, what advice would you give to colleagues who are new to the actuarial profession or still in training?
In general, I think it's important to understand that training is an ongoing process that deserves regular attention.
In the actuarial field, project involvement is common: whether it is participating in, supporting or leading projects. Understanding how projects work, the roles within them and how to make them efficient makes our own work easier and adds value, even without direct (partial) project management.
Today, employees increasingly take responsibility for and design their own roles. It's advantageous to complement practical experience with structured theoretical knowledge. While PMP certification requires significant experience, the Certified Associate in Project Management (CAPM) is an option for those with less experience.
Do you plan to build on this qualification or specialise further?
For me, PMP certification does not end with passing the exam. Much like the actuarial profession, continuing education is necessary to maintain the PMP-status. I believe that continuous learning is essential, as project management is a field with constant developments and new insights.
The PMP training is comprehensive, but there are fields worth exploring further. I could see additional specialisation in these areas.