Economic impact assessment of the CCPMO: Final report - CIPD

Section 1
Introduction and background
value of professional qualifications to individuals and the Exchequer. First,
we focus on the particular role of the eight professional bodies that comprise
The Consultative Committee for Professional Management Organisations
(CCPMO) (a full list is provided below). The activities of these professional
bodies are examined, and their contribution assessed within the framework of
the goals and delivery mechanisms prioritised in the UK Skills Strategy.
Second, using information from the Quarterly Labour Force Survey, we
investigate the economic return associated with possession of professional
qualifications and membership of a professional institute by estimating their
impact on individual earnings and the likelihood of employment.
The members of the CCPMO
The CCPMO comprises the Chief Executives of eight UK-based professional
bodies relating to the role of business and management related professions.
The professional bodies involved in the CCPMO are:
Institute of Credit Management (ICM)
Chartered Management Institute (CMI)
Chartered Institute of Purchasing and Supply (CIPS)
Chartered Institute of Logistics and Transport (CILT)
Institute of Chartered Secretaries and Administrators (ICSA)
Chartered Institute of Personnel and Development (CIPD)
Chartered Institute of Management Accountants (CIMA)
Chartered Institute of Marketing (CIM)
1.2 Structure of the report
The remainder of the report is structured as follows. Section 2 provides an
overview of the activities of the CCPMO. Section 3 places the activities of the
CCPMO within the context of the Skills Strategy, and evaluates how
professional bodies contribute to achieving the Government’s skills goals.
Section 4 then reports the results of the analysis of the economic value of
professional qualifications, using data from the Labour Force Survey. Finally,
Section 5 then provides some concluding remarks from the CCPMO.
London Economics
December 2008 2