Originally posted by: Future Shock
The PMI is the single best way to become a certified project management professional. An alternative (if young enough) is simply to work for a large consulting firm and finally make manager - at one point Andersen Consulting alone probably produced 10-15% of all project managers in IT. The large firms live and die by formal methodology, and they teach it (some well, some less), and your work experience will be the equivalent of certification or degree.
More tactically - LEARN MICROSOFT PROJECT. Inside out. All of it. Get three books on it, and understand them all. Understand estimates, actuals, duration driven, effort driven...the whole kit and kaboodle. Actually, understand half of it and you probably exceed most practicing project managers: there is a heck of a lot of complexity there. Few people that I have met can really tap into that software and make it do complicated stuff easily - and it does have the power to do that. Be that type of person, and you will get staffed in junior project management roles, and then learn project management as you do it. Not the best way, and very dependant upon who is actually leading the projects that you are learning on, but relatively painless and cheap...
BTW - I disagree with the above comments about PM work drying up. In fact, PM work is one of the few good responses career-wise to off-shoring - someone has to manage the offshore contracts and projects, and that person is themselves not offshored...
Future Shock