The Project Management Professional certification from the Project Management Institute is rigorous. It isn't a back-of-the-cereal box type of thing you mail in, so it should get credit in that way. Whether it is this, or college courses, the whole idea is to get you to take a look at the world from another viewpoint and then decide what you'd like to use, keep or ignore. That's probably the most important part.
And if this guy's boss hasn't come to him and asked what his plans were for advancing his career, I doubt this project manager approaching his boss is going to get much practical help on advancement.
After all, why would you (as a boss) want to upset a good balance that's working out for you?Steve Lapinskas