Are you planning to take the PMP® certification exam soon? If yes, you should take the next step by starting with the application process. But before that, you need to have a clear idea about the costs which are included in the process of getting PMP® certified.
PMP® is considered as one of the most valuable and high demand certifications in the project management category. Having a PMP® certification under your belt will introduce you to the world of greater opportunity and lucrative salaries. But PMP® is a tougher exam compared to other certifications and requires more preparation to pass the exam.
There are multiple items to consider when you try to find out the cost involved in the PMP® certification process. The PMP® certification costs include the application and exam fees plus any other additional costs associated with preparing for the exam.
You need to pay an amount of $555 as the exam fee to sit for your PMP® certification exam. But you can bring it down to $405 by becoming a PMI member. But this is not the only cost involved in the PMP® certification cost. The costs can further be explained in the following points:
It is not necessary for you to become a PMI member to sit for your PMP® certification exam. But the benefits of getting a membership with PMI is more than the membership fee. The annual membership fee along with the first time registration fee is $139. You can save $150 on the exam fee itself by becoming a PMI member.
Apart from the exam fee, you get a free copy of the latest edition of PMBOK® Guide and other standards or guides published by PMI which you need to be thorough with in order to pass the PMP® examination. Further, you can gain the required PMP® PDUs for free by watching the webinars and joining the annual online conferences which are exclusively available for the members.
Once you become a PMI member, you need to pay $405 as the PMP® certification exam fee to take the computer-based exam at your nearest Prometric exam center. But it is $555 for non-members.
You can take up the PMP® certification exam three times in the one-year eligibility period. Again, if you are a PMI member, you just need to pay a PMP® re-examination fee of $275 whereas, the non-members need to pay $375.
As a PMP® aspirant, you shouldn’t consider only the PMBOK® Guide to be the syllabus of PMP® exam. It is an official reference book for the PMP® exam. It is recommended for every aspirant to read the PMBOK® Guide more than once while you prepare for your PMP® exam. The content of the PMBOK® Guide can be found in the real PMP® exam. The current cost of PMBOK® Guide is $47.98.
Got a PMI membership? Then you can download the free copy of the PMBOK® Guide from the PMI website.
You need to complete 35 hours of project management course work to sit for the PMP® exam. Taking up a Project Management Training Course can help you to earn these 35 contact hours. The cost of these courses ranges based on the training provider. You need to spend around $1,000 to meet this requirement.
As you know that PMP® certification exam consists of a complex exam pattern and you need to be well prepared to clear it at one go. You can get access to reference books both in hard copy and online. These resources contain tons of project management knowledge which proves helpful while you prepare for your PMP® exam.
Taking PMP® sample exams plays a pivotal role in your PMP® exam preparation. These mock tests and practice exams prove as a good resource to test your readiness for the exam. Further, these mock tests will help you understand the techniques of time management which is an important factor while writing your PMP® certification exam.
You can’t stop your quest once you get your PMP® certification. Your PMP® certification is only valid for three years and you need to renew your credentials before it gets invalid. So, you need to pay $150 to renew your credential every three years. However, you can bring down this cost to $60 by becoming a PMI member.
Confused? The following chart will help you to get a clear understanding of the costs involved in your PMP® certification:
|Sl. No.||PMP® Certification Cost (Different Cost Aspects)||Costs|
|1||PMI Membership fee along with joining fee||$139|
|2||PMI Membership renewal fee||$129 per year|
|3||PMP® Certification Exam fee for PMI members||$405|
|4||PMP® Certification Exam fee for non-members||$555|
|5||Rescheduling fee for PMI members||$275|
|6||Rescheduling fee for non-members||$375|
|7||PMBOK® handbook cost for members||Free|
|8||PMBOK® handbook cost for non-members||$50 on Amazon|
|9||Cost of study guides and resources||$40 to $100|
|10||Cost of practice tests||$60 to $100|
|11||Renewal cost of PMP® certification for PMI members||$60|
|12||Renewal cost of PMP® certification for non-members||$150|
Won’t it be great if you get access to PMP® certification training from your preferred location? You can make it possible by opting for online PMP® certification training. The e-learning course provided by the R.E.P.s give you access to innumerable mock tests and exam revisions. Few of the features of such courses are as follows:
You need to continue your learning and development in order to maintain your PMP® certification. The PMI® has set a 60 PDU requirement which you are expected to meet in order to continue your PMP® journey. As a PMP® certification aspirant, won’t you be happy to get all the course which you need to fulfill your PDU requirements in a bundle? You need to earn 35 PDUs in the Education category and meet the following minimum requirements, as per the PMI Talent Triangle™ skill areas:
|Education PDUs - Minimum Talent Triangle Requirements|
|Certification||Technical PDUs Required||Leadership PDUs Required||Strategic PDUs Required||Remaining PDUs - across any area of PMI Talent Triangle||Total Minimum Required|
The activities and courses included in the three components of the PMI Talent Triangle™ are as follows:
|Technical||Leadership||Business & Strategic Management|
|Life Cycle Management||Coaching & Mentoring||Customer relationship & satisfaction|
|Time, Scope, Risk Management||Problem Solving||Benefits Realisation|
|Estimation||Team Building||Legal & Regulatory compliance|
|Agile Practices||Emotional Intelligence||Strategic planning & analysis|
|Governance||Conflict Management||Operational Functions|
|Data gathering and modeling||Brainstorming||Business acumen|
|Earned value management||Influencing||Competitive analysis|
|Performance Management||Listening||Market awareness|
|Interpersonal skills||Business models and structures|
You can get access to PMP® certification training in three different methods. They are classroom training, instructor-led training, and self-learning method. All the mentioned modes have their own pros and cons, but self-learning is considered as the cheapest of all the three courses.
You can choose between self-learning mode or instructor-led mode to take your online training. There are numerous R.E.P.s in the market who provide such training and help you attain 35 contact hours to fulfill the PMI requirements.
You should consider the following important factors while searching for the best online platform for your PMP® certification training:
After knowing about all the costs which you need to bear in order to get PMP® certified, won’t you love to know about what lies ahead of it? Here are five jobs for project management professionals in the US with the highest paid salaries.
A Pharmaceutical Project Manager works with researchers, doctors, and engineers to ensure that the research and development stay on schedule and on budget. He or she is responsible for overseeing the development of new medication for the treatment of diseases and other health problems. The average annual salary of a Pharmaceutical Project Manager based in the US is $131,833.
A Resources Project Manager works toward making the process of extracting and growing natural resources by working with farmers, mining, and oil companies and eliminating waste as well as improving communication. He or she looks into the procurement of natural resources for efficient delivery to end consumers. The average annual salary of the Resources Project Manager based in the US is around $129,368.
From environmental engineers to sales managers, a Consulting Project Manager works at all the levels of the industry and they work on a case-to-case basis. He or she works with the goal to furnish industry expertise and advanced knowledge to the client in order to lead their project to success. A Consulting Project Manager earns an annual average salary of $129,208 in the US.
The job description of an Aerospace Project Manager includes working with designers and engineers to ensure the delivery of the new aircraft on time and on budget. His or her focus areas include quality control and risk management. The average annual salary of the Aerospace Project Manager based in the US is $121,923.
An Engineering Project Manager communicates with clients to ensure the quality of the end product as demanded by the client. The annual salary of the Engineering Project Manager based in the US is $121,769 per annum.
As you can see, the PMP® certification involves a lot of other costs other than the exam cost itself. There is a cost involved in all the processes which you need to go through in order to get PMP® certified. But these costs can vary from person to person and the country you are residing in. Further, adding a PMP® certification to your collar exposes you to better career opportunities and higher salaries.
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