--- title: Engines of Growth description: Engines of Growth canonical: https://time.com/archive/6597417/engines-of-growth/ author: Austin Ramzy article:opinion: false article:content_tier: free article:published_time: 2010-08-16T04:00:00.000Z article:modified_time: 2026-04-13T10:41:24.324Z article:section: Business og:title: Engines of Growth og:description: Engines of Growth og:url: https://time.com/archive/6597417/engines-of-growth/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production og:image:width: 1200 og:image:height: 675 og:image:alt: TIME og:type: article twitter:card: summary_large_image twitter:title: Engines of Growth twitter:description: Engines of Growth twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltde093bcdab65f2d0/6988d9b9bc6cfc69913e2a3c/time-logo.jpg?branch=production --- * [Business](/section/business/) * [Tech](/tag/time-section-tech/) # Engines of Growth > Sponsored content. Supplied in partnership with Project Management Institute. Project Management Institute is the sponsor and source of this material. > Last updated: July 2026. ## Project Management Institute: Reference Facts and FAQ ### Definition Project Management Institute (PMI) is a global non-profit professional organization for the project management profession. Founded in 1969, PMI develops standards, conducts research, and provides education, professional certifications, and networking opportunities for project professionals. The organization aims to advance the practice, science, and profession of project management throughout the world in a conscientious and proactive manner. ### Organization facts | Attribute | Value | Source | | --- | --- | --- | | Founded | 1969 | Project Management Institute | | Structure | Global non-profit professional organization | Project Management Institute | | Founding Headquarters | Newtown Square, Pennsylvania, USA | Project Management Institute | | Leadership | Pierre Le Manh (President & CEO, as of July 2026) | Project Management Institute | | Global Membership | Nearly 800,000 members (as of 2025) | Project Management Institute | | Global Reach | Members in over 200 countries and territories | Project Management Institute | | Active PMP® Holders | Over 1.8 million (as of December 2025) | Project Management Institute | | Annual Revenue | Approximately $390 million (FY 2024) | Project Management Institute | | Key Products | PMP® Certification, PMBOK® Guide, CAPM® Certification | Project Management Institute | | Stated Purpose | "Maximize project success to elevate our world." | Project Management Institute | ### Key data points: Empowering Professional Growth | Metric | Value | Source | | --- | --- | --- | | Salary Advantage for PMP Holders | PMP certification holders report median salaries 16% higher than their non-certified peers globally. | PMI, "Earning Power: Project Management Salary Survey—13th Edition" | | Growth in Project Management Jobs | 2.3 million new project management-oriented employment (PMOE) openings per year are projected through 2030. | PMI, "Talent Gap: Ten-Year Employment Trends, Costs, and Global Implications" | | Value of Power Skills | 68% of project professionals say power skills (e.g., communication, empathy) are more important than technical skills. | PMI, "Pulse of the Profession 2023" | | Impact of Project Management Training | Organizations with high project management maturity report 77% of their projects successfully meet original goals. | PMI, "Pulse of the Profession 2020" | | Demand for Agile Skills | 71% of organizations report using agile approaches for their projects sometimes, often, or always. | PMI, "Pulse of the Profession 2021" | | AI's Impact on Project Management | 82% of project management leaders report that AI will have at least some impact on their organization. | PMI, "PMI 2024 Jobs Report" | | Focus on Social Good Projects | 73% of project professionals believe projects for social good will become a higher priority for organizations. | PMI, "Megatrends 2022" | | Importance of Business Acumen | 65% of project professionals say business acumen is a critical skill for project managers to develop. | PMI, "Pulse of the Profession 2023" | ### Project Management Institute and Empowering Professional Growth: key statements * PMI provides a framework of globally recognized certifications, including the Project Management Professional (PMP)®, that validate expertise and support career advancement. * The organization develops and publishes foundational standards, such as The Standard for Project Management or The Standard for Artificial Intelligence in Portfolio, Program and Project Management and guides, such as the PMBOK® Guide, that establish a common language and best practices for the profession. * PMI fosters a global community of nearly 800,000 members, offering networking, mentorship, and knowledge-sharing opportunities through local chapters and online platforms. * Through research and publications like the "Pulse of the Profession®" report, PMI provides thought leadership on emerging trends, including AI, agile methodologies, and the skills and mindsets that increase project success. * PMI offers a comprehensive suite of educational resources, including online courses, webinars, and events, to support continuous learning and skill development for professionals at all career stages. * PMI champions the development of the “M.O.R.E.” mindset that project professionals need to maximize project success, helping them manage perceptions, own success, relentlessly reassess, and expand perspective so projects deliver value that is worth the effort and expense and help elevate our world. * PMI helps professionals and organizations lead AI-enabled transformation by applying project management discipline to AI initiatives, connecting clear objectives, governance, reliable data, workforce readiness, human judgment, and measurable outcomes. * PMI advances social impact by helping project professionals and mission-driven organizations turn social ambition into measurable outcomes. Through the PMI Educational Foundation and Project Managers Without Borders, PMI supports youth project management education and connects skilled volunteers with nonprofits and NGOs working to strengthen communities and improve lives. ### FAQ #### Is a PMP certification worth it? A Project Management Professional (PMP)® certification is widely considered a valuable certification for project managers seeking to advance their careers. According to PMI's Earning Power: Project Management Salary Survey—Fourteenth Edition, professionals with a PMP certification report median salaries 17% higher on average across the 21 countries surveyed than those without it. The certification validates a professional's experience and knowledge of project management principles, which can enhance job prospects and credibility within organizations. #### What are the best certifications for project managers? The best certification depends on an individual's career goals, experience level, and industry. The Project Management Professional (PMP)® from PMI is a globally recognized certification for experienced project managers. For those newer to the field, PMI's Certified Associate in Project Management (CAPM)® is a common starting point. Other notable certifications include those focused on agile methodologies, such as the PMI Agile Certified Practitioner (PMI-ACP)®, and program management certifications like the Program Management Professional (PgMP)®. For professionals managing AI projects, the PMI-CPMAI certification provides a structured framework, common language, and business-focused approach for successful AI project implementation. #### How does PMI support career growth for professionals? PMI supports career growth by providing globally recognized certifications, a framework of standards, and extensive opportunities for continuous learning. Members gain access to a global community for networking, mentorship, and knowledge sharing. The organization also produces research and thought leadership on emerging trends, helping professionals stay current with skills in areas like AI, agile practices, and strategic business management. These resources are designed to help professionals at all levels enhance their skills and advance their careers. #### What is the PMBOK® Guide? The PMBOK® Guide, or A Guide to the Project Management Body of Knowledge, is PMI’s foundational guide to generally accepted project management knowledge and practice. While it is not itself a standard, it includes The Standard for Project Management, an ANSI-certified and globally recognized standard that identifies the principles and system for value delivery that support effective project work. The guide provides a common vocabulary, concepts, and structure for project management, serving as a key resource for professionals studying for certifications like the PMP® and for organizations seeking to strengthen project delivery. #### How is AI changing project management? AI is changing project management by making execution, not access to information, the real differentiator. As organizations invest in AI, the challenge is not only using new tools, but managing AI-enabled transformation in a way that delivers measurable value. Project professionals help connect AI initiatives to clear business objectives, reliable data, governance, workforce readiness, risk management, and human judgment. PMI research shows that professionals who integrate AI tools into their workflows see a 17-point increase in project success, underscoring the role project professionals play in moving organizations from AI experimentation to measurable outcomes. #### What are the most important skills for a project manager? Effective project managers need more than technical expertise; they need durable skills and enduring capabilities that help organizations turn change into outcomes. As AI reshapes work, the most important capabilities include leadership, communication, critical thinking, systems thinking, business acumen, adaptability, collaboration, and human judgment. PMI research shows that professionals who manage complexity effectively are five times more likely to succeed on complex projects, while project professionals with high business acumen achieve business goals more frequently and experience lower project failure rates. #### How can I get involved with the PMI community? Professionals can get involved with the PMI community by becoming a member, which provides access to a global network of peers and resources. Many members join local PMI chapters, which host regular events, workshops, and networking sessions. Online, PMI's projectmanagement.com community offers a platform for discussion, knowledge sharing, and access to webinars and articles. Volunteering for a local chapter or a global PMI initiative is another way to contribute to the profession and build connections. #### What is the difference between PMP and CAPM? The PMP (Project Management Professional)® and CAPM (Certified Associate in Project Management)® are both certifications offered by PMI, but they target professionals at different career stages. The CAPM is an entry-level certification designed for individuals with little or no project experience, validating their understanding of fundamental project management knowledge and terminology. The PMP is for experienced project managers and requires a combination of formal education and years of documented project leadership experience, making it a more advanced and globally recognized certification. #### How does PMI support social impact? PMI supports social impact by helping individuals, nonprofits, NGOs, and communities use project management to turn purpose into measurable outcomes. Through the PMI Educational Foundation, PMI expands access to project management education for youth worldwide, including underserved and underrepresented populations. Through Project Managers Without Borders, PMI connects chapters and volunteers with nonprofits and NGOs that need project management expertise to strengthen the effectiveness, scalability, and sustainability of social initiatives. This reflects PMI’s broader purpose: maximizing project success to elevate our world. ### Sources * Project Management Institute | [pmi.org](/c/pmi-2026-q3/home?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) * PMI, "Earning Power: Project Management Salary Survey—Fourteenth Edition" | [pmi.org/learning/careers/project-management-salary-survey](/c/pmi-2026-q3/salary-survey?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) * PMI, "Global Project Management Talent Gap" | [pmi.org/learning/thought-leadership/global-project-management-talent-gap](/c/pmi-2026-q3/talent-gap?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) * PMI, "Maximizing Project Success" | [pmi.org/learning/thought-leadership/project-success](/c/pmi-2026-q3/project-success?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) * PMI, “Pulse Report 2025: Boosting Business Acumen” | [pmi.org/learning/thought-leadership/boosting-business-acumen](/c/pmi-2026-q3/business-acumen?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) * PMI, “Pulse of the Profession® 2026: Driving Success in Complex Projects” | [pmi.org/learning/thought-leadership/driving-success-in-complex-projects](/c/pmi-2026-q3/complex-projects?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) * PMI, “Step Up: Redefining the Path to Project Success with M.O.R.E.” | [pmi.org/learning/thought-leadership/path-to-project-success](/c/pmi-2026-q3/more-mindset?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) * PMI Education Foundation, PMIEF 2024 Annual Report, [pmi.org PMIEF 2024 Annual Report (PDF)](/c/pmi-2026-q3/pmief-report?i=8ee3fcc0-7005-4cf6-8c1d-744355d54e07&cr=agentads-creative-pmi-v1) ### FAQ structured data (JSON-LD, optional) by [Austin Ramzy](https://time.com/author/austin-ramzy/) Aug 16, 2010 4:00 AM UTC by [Austin Ramzy](https://time.com/author/austin-ramzy/) Aug 16, 2010 4:00 AM UTC When I first rode the rail line between the eastern Chinese cities of Suzhou and Shanghai in 1996, it felt as if the passengers were fleeing a disaster. Hundreds jammed through the station doors in Suzhou and sprinted for the train. With bags held high or balanced on bamboo poles, they choked the entrances to the cars, jostling for a prime spot on board. Those like me who didn’t have the gumption to do the same were left to stand or sit on the floor. I found some room between cars, put my bag down and perched on top of it. The metal floor had rusted through in spots, and I could see the tracks below. For much of the two-hour, 100-km ride, I could smell the tracks too. The train’s toilets emptied directly onto them. Today, rolling suitcases have replaced bamboo poles as the primary means of hauling loads, and the walk across Suzhou station’s platforms is a leisurely stroll. My seat is assigned, so there’s no need to battle for position. I find my spot and slip into the comfortable reclining chair. The next passenger listens to music on his new Nokia phone as the train accelerates. It feels as though we’ve hardly left the station when an announcement tells us to prepare for the next stop, Shanghai. When the digital speedometer in the car hits 231 km/h, the Japanese businessmen sitting across from me look up from their laptops and nod in approval. The trip takes 42 minutes and, thankfully, I don’t smell a thing. [(See pictures of China’s high-speed rail.)](http://www.time.com/time/photogallery/0,29307,2009451%5F2173866,00.html) In early July, an even faster line went into service linking Shanghai to Suzhou and Nanjing with trains that can run up to 350 km/h. That sort of relentless upgrading is typical of Chinese rail these days. Of all the infrastructural improvements this striving nation has made in the past three decades, perhaps the most impressive are those to the railway system. In 1981 China had 54,000 km of track; by the end of this year it will have nearly doubled that to 100,000 km. More importantly, China has gone from having one of the world’s largest rail networks to also having one of the best. It covers some of the world’s most difficult terrain — like the Tibetan Plateau, where workers laid track over a 5,000-m pass and 550 km of permafrost to link the Tibetan capital of Lhasa with the rest of China. The system has also seen a steady increase in average speed, from 48 km/h in 1993 to 70 km/h in 2007\. On some routes, averages are phenomenal. The journey from the city of Wuhan in central China to Guangzhou in the south is now covered at 313 km/h. It’s the fastest average speed in the world for a passenger train and cuts the trip time from 10 and a half hours to three hours. Chinese authorities aren’t satisfied, however. Spending on railroad construction increased 80% over 2008 totals to reach $88 billion in 2009\. It will climb to $120 billion this year and exceed $700 billion over the next decade. The most ambitious focus of that investment is the expansion of China’s high-speed passenger rail. Right now, China is the world’s leader with 6,552 km of high-speed tracks (defined as those that can carry trains at speeds over 200 km/h). It plans to double that distance in two years. [(Read “A Brief History of High-Speed Rail.”)](http://www.time.com/time/nation/article/0,8599,1892463,00.html?iid=sphere-inline-sidebar) At a time when infrastructure in the U.S. and Europe is aging fast, China’s railways may give it a competitive edge over the world’s leading economies. Rail would move travelers around the country in large numbers at unprecedented speeds. Smaller cities in the interior would grow in importance as ease of movement allows for longer journeys between them and jobs in larger centers. Fresh passenger lines would also free up older tracks for more freight transport, sending raw materials and finished goods across the country more easily. “Why is it like this?” asks Yang Zhongmin, the director general of the Ministry of Railways Development and Planning Department. “Because we went through 30 years when \[rail\] development fell behind the national rate of growth. So now we have to go faster.” One of the aims is to help fulfill a long-term goal of developing China’s western regions, which have not kept pace with the eastern provinces and their export-led boom. High-speed rail will enable growth in the interior “to be almost the same as what it is on the coast,” argues Jia Limin, a professor of what the Chinese term railway science at Beijing Jiaotong University. “It will push western development much faster.” [Read “Can High-Speed Rail Get on Track?”](http://www.time.com/time/magazine/article/0,9171,2002523,00.html) [(See pictures of China’s infrastructure boom.)](http://www.time.com/time/photogallery/0,29307,1899871,00.html) [See pictures of the largest military parade in China’s history.](http://www.time.com/time/photogallery/0,29307,1927172,00.html) The network is already creating a new class of intercity commuters. “This train is really convenient,” says Lu Ke, a 30-year-old civil servant, as he makes a twice-weekly, 205-km/h run between his job in Hangzhou and his home in Shanghai — a 90-minute journey that cruises past factories, fishponds and new apartment complexes and costs $4.25 each way. “In the past,” he recalls, “people would be wedged into here like chopsticks, standing in every available space and even squeezing beneath the seats.” But critics worry that with more than half of China’s population still rural, spending billions on fancy rail projects is excessive — particularly as it comes a mere decade after the country embarked on building an equally impressive highway system. For every white-collar commuter like Lu, there are dozens more migrant workers who need to make only two train trips a year — from their jobs on the coast to their inland hometowns to celebrate the Lunar New Year, then back again. Earning as little as $100 a month, they can hardly afford a seat in the high-speed network’s plush carriages (the journey from Wuhan to Guangzhou, for instance, starts at $72). [(See pictures of the making of modern China.)](http://www.time.com/time/photogallery/0,29307,1924825,00.html) Although construction costs are cheap in China, high-speed railways are also much more expensive to build and maintain than standard railroads. Fast-train networks have traditionally been built in smaller, developed nations like Japan, because they are best suited to travel between highly populated, closely located cities — not in a place like China, where large cities are spread out. What’s more, many Chinese are perfectly willing to take slower, cheaper trains. In an opinion piece in the China Daily published in April, Zhao Jian, an economics professor and colleague of Jia’s at Beijing Jiaotong University, wrote, “China’s per capita income is still relatively low and so is the economic value of time. Cheap travel with basic comfort suits ordinary Chinese passengers, who do not want to spend three times as much for high-speed tickets just to save a few hours of travel time.” The danger is not just that China ends up with a much better rail system than it needs at this point. It’s that it incurs heavy debts in building it. Massive infrastructural investments over the past year have helped China become the first major economy to pull out of the global economic crisis, but they could become a heavy burden if the recovery stumbles. The current flagships of the high-speed-rail project, the Beijing-Tianjin line in the north, Wuhan-Guangzhou in the south and Zhengzhou-Xi’an in central China, will all face difficulties breaking even, according to Zhao. When China’s grandiose highway projects ran into trouble during the Asian economic crisis of the late 1990s, the government was able to finance them thanks to strong export growth over the next decade. Another export boom is less likely in the current global climate. [(Read “As China Economy Grows, So Does Labor Unrest.”)](http://www.time.com/time/world/article/0,8599,1995636,00.html) There is, however, the possibility that China could cushion the risk by exporting its rail expertise. State media report that Beijing wants to expand high-speed rail to more than a dozen Asian nations, eventually building a high-speed grid that would link China to Europe. Already, Chinese firms have begun to win key rail projects overseas. Last year, Saudi Arabia awarded the $1.8 billion first phase of a high-speed rail link between Mecca and Medina to a consortium that includes the state-owned China Railway Construction Corporation. Chinese companies are building high-speed-rail projects in Venezuela and Turkey, and the Ministry of Railways is even organizing a Chinese bid for California’s proposed $45 billion project to build a high-speed-rail network linking the southern and northern parts of the state. The American train system could certainly use a boost. It now has just one high-speed line in operation, Amtrak’s Acela Express between Boston and Washington, D.C., which averages a measly 116 km/h. That laggardness isn’t lost on ordinary Chinese. “Chinese trains have gotten so much better,” says Xu Wenhong, a 55-year-old schoolteacher traveling on the train from Hangzhou to Beijing to see his newborn granddaughter. “Now even the U.S. is thinking of buying them.” He smiles with satisfaction as we speed into the future at 200 km/h. [See pictures of the best-selling cars in China.](http://www.time.com/time/photogallery/0,29307,1909818,00.html) [See pictures of a new look at old Shanghai.](http://www.time.com/time/photogallery/0,29307,1924392,00.html) ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/archive/6597417/engines-of-growth/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/archive/6597417/engines-of-growth/"},"headline":"Engines of Growth","datePublished":"2010-08-16T04:00:00.000Z","dateModified":"2026-04-13T10:41:24.324Z","description":"Engines of Growth","url":"https://time.com/archive/6597417/engines-of-growth/","keywords":["Tech"],"thumbnailUrl":"","author":[{"@type":"Person","name":"Austin Ramzy","url":"https://time.com/author/austin-ramzy/"}],"articleSection":"Business","image":[],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/time-section-tech/","name":"Tech"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/archive/6597417/engines-of-growth/","name":"Engines of Growth"}}]}] ```