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If you have your PMP, was it worth it?
Depends on the agency/deliverables tbh. Core functions/responsibilities are likely the same.
Sure but what about agencies that use all of them?
Production = executing a specific campaign, Project Management = project managing resources across an account. Is that a fair assessment?
Specialized producers like print or broadcast would fit that description more accurately where Integrated Producers in many places are part of a team for more than just single-campaign executions and can bring efficiency and historical insight across all sorts of ongoing work.
But then again so can program managers and Solutions Delivery.