Being a PMP® certified professional helps you in expanding your skills and values while at the same time open doors to various potential job opportunities. The PMP® certification will help you land into lucrative roles in the fields of IT, finance, manufacturing, healthcare, and various other industries. Professionals who are PMP® certified are reported to have better project performance along with commendable raise in their pay.
With the increase in popularity of the project management field, the demand for officially qualified project managers has also increased. For aspirants who wish to prepare for a PMP® examination, PMP® certification cost is a very critical aspect. What is the cost of PMP® Certification? Are there any different aspects of the PMP® certification cost?
Read along to know about the PMP® certification cost and the other aspects that might be associated with it.
The Project Management Institute, PMI® offers two ways for registration of the PMP® certification exam – one which includes membership of PMI®, while the other excludes the membership.
Before you take up the PMP® certification exam, there are some criteria that are needed to be fulfilled. One of the most important criteria, in order to fulfill the PMP® eligibility requirement list, is to attend a project management course for a minimum of 35 hours. There are other criteria as well that you’ll have to meet before taking up a PMP® certification exam.
The cost of PMP® certification training is not fixed as it depends on the choices that you make. It depends on whether you take an online PMP® certification training or PMP® certification classroom training. If you choose the PMP® certification classroom training, the country where you are located plays an important role as well. There is no fixed pricing for PMP® certification classroom training, hence the same for PMP® certification cost. Approximately, it ranges from $500 USD to $2,000 USD.
The other option is to take the Online PMP® certification training. You can find numerous online PMP® training across the internet, which is opted by the majority as there are more advantages in doing so. Like, one doesn’t have to sit in a classroom or visit a classroom, which proves to be very advantageous for full time working professionals. The other advantage is that one can complete the training at his/her own pace, at ease. Moreover, online courses cost less than regular classroom teaching, that is, for online training, the price ranges between $200 USD to $500 USD.
The PMI® membership fee is $129 for new members, along with $10 as a one-time application fee. The membership holds a validity of one year which needs to be renewed every year by paying a fee of $129.
The PMP® exam fee for the online computer-based exam at Prometric centers is stated below:
The exam fee for Paper-based exam is stated below:
Please make a note that the paper-based testing is available only for those candidates who either stay a minimum of 300 km from the nearest Prometric center or it is burdensome for the candidate to cross his country’s borders.
It can be seen from the above table that you can save $11 if you choose to become a PMI® member first and then apply for the PMP® certification examination.
You can refer to various resources in order to prepare yourself well for the PMP® examination. PMBOK Guide (Project Management Body of Knowledge), issued by the Project Management Institute, covers the majority of the topics on which the questions are based. Studying from the PMBOK Guide is an essential part of your preparation. The hard copy of a PMBOK guide is available at a cost of $47.98 USD, while it can be accessed for free as a soft copy by the PMI® members (becomes available on the PMI® website after becoming a member of the PMI®).
It will always be best for you the clear the examination in the first attempt and prepare accordingly. In case it happens that you fail to do so, then PMI® charges a fee, which is the re-examination fee only for retakes. The retake fee for computer-based testing is stated as below:
The various cost aspects related to PMP® certification can be summarised in the following chart:
Yes, there is a refund policy that can be asked for. To avail a refund, a request has to be made to the Project Management Insitute, PMI® at least 30 days prior to the date of exam eligibility expiration. An amount of $100 will be retained as a processing fee if the candidate has not taken the exam or not yet scheduled the exam. After this process, the application will be closed and the eligibility period will not be valid after the refund has been processed.
A candidate can ask for a refund if their application has been rejected or if they have not passed the audit.
Refund will not be provided by the PMI® in any of the following cases:
After meeting all the eligibility requirements, fill the PMP application. PMI takes about 5 to 10 days to review your application once you have submitted your application. Once your application has been reviewed and processed, you will receive an e-mail from the PMI with a request for payment. You can choose your examination mode, computer-based or online-based, and complete the process of payment. Once PMI receives the payment that you have made, it sends your application for the process of audit.
For the process of audit, PMI randomly selects a few applications. You’ll be notified through an email if your application gets selected for the process of audit, asking you to submit the following documents for the process of audit:
You get a total of 90 days to submit the above-mentioned documents. The audit process can take up to 7 days after PMI has received all the documents. After the audit process has successfully been completed, you’ll receive an email notification which will contain your PMI eligibility ID and examination scheduling instructions. You can schedule your examination within one year from this day.
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Are there any different aspects other than training and exam fee for PMP® certification cost? This question can come across any candidate who is preparing for the PMP® certification examination. Read along to know about the various factors that are important other than the certification training and fee, so that you can plan your financials accordingly.
As discussed, these 35 hours of training is required to meet the PMP® Eligibility requirement list. One can opt for classroom-training or online-based training, as per their ease. The classroom-training prices vary between $500 USD to $2,000 USD while that of online training varies between $200 USD to $500 USD.
The preparation time can be considered as PMP® certification cost. As busy professionals, you’ll have to spare time to take up this project management course. This is the major reason for online training being on high demand, as it is self-paced. The duration of the course and self-study depends on your dedication, background knowledge in project management and your professional experience.
One needs to be well prepared for the complex exam pattern of the PMP® certification exam. For this, you might have to take help from various reference books, which may be hardcopy or softcopy. It’ll help you gain knowledge and boost your courage for your PMP® examination.
Solving sample questions and sample exam plays an important role in preparation in any exam. It will help you test your readiness and knowledge on the topic, giving you a better grasp on the subject. Moreover, you will get to discover the topics where you need to improve. Moreover, you can get a better grip on time management, which is another very important factor to keep in mind while giving a PMP® certification exam.
The PMP® certification that you will earn will be valid for three years. You’ll have to renew your credentials every three years before it becomes invalid, which will cost you $150 USD if you are not a PMI® member. But if you are a PMI® member, the renewal will cost you $60 USD.
The additional costs aligned with PMP® certification can be listed down as:
The overall cost of PMP® certification depends on the choices that you over your training preparation and different other factors mentioned above. If you choose on taking an online PMP® certification, it will cost you approximately $750 USD, which includes the exam fee. If you wish to go for a classroom training for PMP® certification, it will cost you roughly around $1,700 USD, including the exam fee.
As discussed, it is equally important to take into consideration the cost of time that you will be spending in preparation and for the PMP® certification training. Choosing the online-based PMP® certification training will let you study and prepare according to your ease and pace, letting you make the most out of your time management. Moreover, the lower certification cost is an added advantage.
Choose well and start preparing well in advance keeping all the factors in your mind! All the best!
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