PMP Certification Cost Breakdown Explained

25-Sep-2020

An IT professional should have heard of the PMP certification at least once in their life. Otherwise they may be completely unaware of this course. Probably every IT professional and every Project Management Professional knows about the importance of this course and about the value that it adds to one’s career. Even though it seems easy to get a PMP certification the reality strikes hard when the candidate actually appears for the PMP certification examination. The certification requires real-world project management experience as well as an advanced degree education.

What is the PMP Certification?

Project Management Professional certification, also popularly known as the PMP Certification, is a recognized program designed by the prestigious Project Management Institute to facilitate an upgrade to the skills and knowledge of a project management professional.

The PMP certification is a factor that helps to validate and prove a professional’s education, skills, experience, and competence. It helps to showcase the ability of a professional to manage projects and it grants recognition to the potential and hard work done by a candidate in the past and in preparation for the course. The certification remains valid for three years after the candidate completes it for the first time and after that time period has elapsed, the candidate has to renew the certification. As per the PMI, there are more than a million PMP certified professionals who are active and 300 chartered chapters in 218 nations. Every 4 to 5 years the PMBOK updates its standards to match the modern framework of Project Management. This process is carried out with the help of the PMI panel committee and ANSI members.

How much does it cost to complete the Project Management Certification?

Thinking about the cost of doing PMP is a legit query that one must have in their minds. PMP Certification cost incurred to earn 35 Professional Development Units (PDUs) that varies for different countries ($300 to $5000).

Fees for CBT (Computer Based Test) for PMP examination price is:

For PMI Members - $405

For non-PMI members - $555

Fee Structure | Re-Examination

For PMI members - $275

For non-PMI members - $375

A candidate needs to have shell out a PMP fee of $555 when he or she wants to be a PMI member the amount covers both membership and examination fees.

On the other hand, when a candidate doesn't want to be a PMI member, he or she will require paying the same fee for PMP examination.

This is why it is advised you to get the PMI Membership while opting for PMP course.

Now, you know the PMP Certification online fee, it is time to move further and know how much it costs to renew the certification.

What is the PMP Renewal Fee?

Hopefully, after reading the above segment of this post, you must be able to figure out the fee structure of PMP certification. Now, you should know the PMP re-examination fee. Once a candidate meets the PDU requirements, he or she receives an electronic notification for applying PMP fees renewal.

As soon as, the candidate receives the notification, he or she needs to submit the certification renewal fee for PMP. The payment can be done through an online certification system.

Renewal Fee for PMI Membership Status CCR:

PMI member - $60

Non-PMI member - $150

One thing that you must consider is that the PMI membership renewal fee is different from the certification renewal fee, both required separate payment. A candidate can perform the renewal process at any time during the cycle, after meeting the PDU requirements by completing the payment but not later than a period of 90 days once the cycle ends.

Further, PMI will provide the certificate with an updated certificate along with the new active certification/CCR cycle dates. Also, it takes up to eight weeks to get documents through postal delivery after completing the payment for the renewal process.

The PMI certificate holders are required to agree with the terms of user and adherence to the audit standards. The candidate is only allowed to renew the certification once the audit gets completed with all terms and conditions.

Process

It is a random process and a PMI certification holder is chosen for the audit process. Meanwhile, the candidate is needed to provide all the required supporting materials so as to verify any PDUs.

This is why it is advised to all the candidates to keep their documents at least 18 months after the completion of the CCR cycle for all PDU claims.

Cancellation of Certificates

In case, a candidate wants to cancel the certification, he or she can do that anytime. All they need is to contact Customer Care by writing an email at customercare@pmi.org.

Once the cancellation of certificate application is received, PMI will return one-third of the renewal fee for each renewed certification or CCR cycle that is not used by candidate following the date of the written cancellation request.

Moreover, for any extenuating situations prohibit a candidate to complete the renewal process of the certification, he or she may contact Customer Care. After reviewing, PMI may settle all the claims on a case to case basis.

Now, you must have acquired all the information about PMP training online, certification cost, its renewal fees, and so on. Let's take another step to understand the uses of PMP certification.

What is the Use of PMP Certification?

PMP certification boosts up your career and adds value to your resume. As per the CIO magazine, PMP certification is one of the top management courses that offer palpable evidence of a candidate's skills and experience that the employers look for in an employee.

Also, through the most recent Project Management Salary survey, it is concluded that the median salary of an employee holding PMP certification is 25% higher than non-certified project management professionals.

Re-Examination Fees

For PMI members - $275

For Non-PMI members - $375

To get the PMP certification, the candidate needs to pass the MCQ (Multiple choice questions) sets. In 4 hours, the candidate has to answer 200 questions. Also, there are 13 different languages to choose for the examination across the world.

The examination is designed in five different fields to assess the management knowledge of a candidate and the fields with the distribution of questions are as follows:

Initiating the project (13 questions)

Planning the project (24 questions)

Executing the project (30 questions)

Monitoring & Controlling a project (25 questions)

Closing the project (8 questions)

After this, you must know about some reference books that can help you to prepare for the PMP examination.

What are the PMP Exam Reference Books?

There are two books that a candidate must use to prepare for PMP examination are:

The Sixth Edition of 'The PMP Exam: How to Pass on Your First Try' written by Andy Crowe. Andy Crowe is the founder and CEO of Velociteach, one of the most prominent providers of PMP training online and exam preparation.

'PMP Exam Prep: Questions, Answers & Explanations' is the second reference book which is written by Christopher Scordo. Christopher Scordo - the founder and Managing Director of PMP Training.

Conclusion

PMP certification helps a candidate to get lucrative roles in different industries like manufacturing, IT, healthcare, finance, and other interesting industries.

The certifying body of PMP i.e. Project Management Institute (PMI) has published 'Project management Body of Knowledge (PMBOK)' which is a Project Management Best Practice Guide and it is the base for  PMP Certification examination.

Since the PMP course covers a wide range of topics according to the syllabus based on PMBOK, the examination is quite challenging for most of the professionals. Hence, choosing the best training institute is important. The course seems difficult as it requires deep knowledge to pass it; on a single topic reading many books is advisable. To do so, you may enroll for the project management training online course; it covers all the latest and best practices mentioned in the PMBOK Guide's sixth edition.

So, learning under the guidance of the expert practitioners would be a good decision to pass PMP exams in the first attempt.

PMP Certification Cost PMP Certification fee PMP Certification Cost Breakdown