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I think like any certification, whether it is CCIE, MCSE, and now PMP, you do have to have the right experience to complete that project successfully. Being a PMP and was formerly a system administrator for both Windows and UNIX platforms, when it comes to managing any technical projects, having those technical experience help tremendously to get them completed successfully.

When it comes down to it, you still have to know your stuff to be a good CCIE or PMP...the certification helps you get in the door or on that project, you still have to prove yourself...and NO, not everyone is from an Ivy League college.