Hi,
I had a pub debate with a friend about this and I couldn't see the point.
From what he said it sounded just like a "qualification" you achieve for working for 10 years in the industry. You have to fill in a lot of forms saying that you are working on harder projects (showing personal development). However your CV and references from your boss/colleagues will verify your personal development what additionally does it add?
Supposedly it is peer reviewed because you have to go to an interview. But to me no interview could not truly assess what a person has done over 10 years.
It also asks for a a minimum of 5 years spent gaining academic qualifications. That just seems daft to me. Some of the best developers/engineers I know don't even have degrees.
I just don't see the point of it especially as computing really requires little to no qualification to back that you can do something as it can be easily learnt off the internet for a junior position. A senior position is just about experience in the industry backed up with the projects you have done in your spare time.
What does everyone else think? Is the time and effort spent becoming one worth it? Or could it be better spent working on open source or your own project showing that you have the skills not a qualification that says you have the skills?