Those looking to become the next generation of project managers will have over 7,000 allocated towards their training costs.
The Skills Funding Agency (SFA) have confirmed that learners on the Higher Apprenticeship in Project Management scheme aged between 16 and 18 years old may be eligible for up to 7,217 of government funding.
Apprentices over 19 years old are also eligible for funding, however the exact amount would depend on their circumstances.
This money would be paid directly to the organisation providing the training, in most cases this would be the employer or an EAL approved centre.
The Level 4 Diploma in Project Management, which forms part of the Higher Apprenticeship, will be awarded by EAL and is accredited by OfQual (the regulatory body of qualifications and examinations).
Gill Hancock, product development manager at APM, outlines what this means to the organisations involved with the scheme. She said: This is great news. Now that SFA have confirmed the level of funding the money is now available to go towards the Apprentices training immediately.
Whats more, if an Apprentice qualifies for the full funding then, apart from their salary, the employer does not need to pay any more money towards their training. It is the perfect cost-effective way of developing project management talent within your organisation.
Additional 1,500 grant
The good news for employers doesnt stop there. Organisations looking to take on an Apprentice could benefit from an additional 1,500 grant. The National Apprenticeship Service will provide up to 40,000 grants to employers with up to 1,000 employees recruiting 16 to 24 year olds.
This incentive looks to support the growth of businesses by encouraging them to employ young people through the Apprenticeship programme. Visit the National Apprenticeship Service website for more information.
APM worked in conjunction with Skills CFA to develop the Higher Apprenticeship in Project Management, which is equivalent to the first year of a degree course.
The funded qualification has been created in conjunction with employers and training providers, with more than 80 organisations being actively involved in the consultation and design to ensure the qualification reflects current demand in the market.
Reduce youth unemployment
With this programme, APM will be directly contributing to the fight to reduce youth unemployment, which is currently running at over 20%. A Higher Apprenticeship in Project Management will provide aspiring young professionals with the opportunity to develop competence, skill and knowledge-sets and make project management a career of first choice.
The aim of the programme is to create new pathways into the project management profession, improve the management of projects and embed vital project skills in organisations throughout England.
If your organisation is interested in learning more about employing Apprentices please contact APM. Alternatively, for more information about the scheme please visit the Higher Apprenticeship in Project Management webpage.