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Those who read a lot might not do well on a test given on Shakespeare. Why? Because, they might not have read Shakespeare, or there may be key plays in his complete works that they have missed. The same is true of the Certification process. While it is highly likely that you are qualified for your job, and you know the ins and outs of how project management works for your company, you may not be thoroughly versed on all of the aspects tested during the certification process. Your company may not follow the Project Management Book of Knowledge (PMBOK) to the letter - or they may not be familiar with the formal processes at all. It would seem then, that no matter how great your on-the-job training to be a project manager, you will still want to read the PMBOK and study in preparation for the Certification Exam.
Even if your company adheres to the PMBOK line by line, you really should be familiar with the certification materials yourself. Why? Information can be misinterpreted, and companies almost always customize information to their needs. Your company might do everything by the book except for the closing proceedures. Or, maybe they slip on some of the steps in planning. Whatever the case is, make sure you have all your bases covered by studying for the exam.