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Depend? Isn't that the worst answer ever??!
Personally, I think it worthless. On the other hand a lot of managers and hr people think it's impressive. It depends on your goal. If you really want to learn how to manage a project, then on the job training is the best. If your company is willing to pay (including the Cheetah class and study guides) and it counts as development hours, then why not. My main criticism is that you don't learn how to manage a variety of projects, but instead memorize PMIs terms and steps. It is the ideal project state, while the real world is rushed and understaffed. Also, because it is based on the PMI way, you should probably buy their books and take an approved class.
Despite how unimpressed I am with the whole thing, I told my manager I would try to complete it this year. :P
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