If you are an IT professional, at some point in time, you might have wondered about the PMP certification, how much does the PMP test cost, and where and how to give it a start. One thing is clear, if you've set your goals on obtaining the PMP certification, then you have made the right choice - and you've got a bright future ahead! But getting PMP-certified isn't as simple as the three-letter word sounds. The certification demands real-world project management education and experience.
Now, before we learn about the PMP certification cost, let us first understand what is PMP.
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What is PMP Certification?
Issued by PMI, the PMP certification acknowledges your ability and skills in project management. It signifies your grasp of the latest concepts, approaches and practices concerning project management. PMP certificate holders across 40 countries earn around 16% more than non-certified colleagues.
A better understanding and applicability of waterfall project scheduling, Agile, business and leadership management makes you stand out among others.
PMP Certification Cost
Wondering what the cost of quality PMP is? PMP cost incurred to earn 35 PDUs varies from country to country -from $300 to $5000.
Re-Examination Fee Structure:
- For PMI members: $275
- For non-PMI members: $375
A person, choosing to become a PMI member, at the time of application will have to shell out a PMP price of $555, which will cover both the examination and the membership fees.
Interestingly, even if a person doesn't wish to become a PMI-member, he/she will anyway have to pay the same PMP exam fee.
Hence, we recommend you to apply for the PMI membership option so that paying your PMP course fee is more practical.
After going through the PMP certification cost, let us next learn what exactly is its renewal fee.
One of the best ways to excel in your field as a project manager is to gain a PMP certification. It is the one key that will help you open numerous doors to higher-paying roles in healthcare, finance, IT, manufacturing, and other industries. Reports show that PMP-certified professionals earn much more than their non-certified colleagues. A PMP certification helps you expand your skillset, markedly improve your project performance, and validate your leadership experience. This article will discuss the PMP certification cost and how it will benefit your career.
How Much Do PMP Certification Classes Cost?
The rate varies based on the mode of classes. However, the general range lies between $300 to $3000. In addition, some educational platforms provide free certification courses too. However, they are trial versions and can not be relied upon solely for preparation.
The online courses for PMP certification training can be seen at $1070 and $1995 for the same 35 hours of training requirement. Simplilearn, Premier Authorized Training Partner by PMI, charges € 999 for the PMP Certification Training Online Course.
Online courses are usually suitable for candidates aiming for the exam while working or if they are busy with other schedules. They are self-paced programs with both live and pre-recorded classes.
Currently, the rate for offline or in-person courses lies at $1899. There are combined options as well, which cost $6000. The offline classes also produce a high success rate, depending on the quality of interactive sessions and guidance.
What is the PMP Renewal Fees?
Confused about the structure of the PMP reexamination fee? After PMI confirms that a person has met the PDU requirements, he/she will receive an electronic notification to apply for PMP fees renewal.
Once the concerned person receives the notification, PMI asks them to submit the PMP certification renewal fee payment through the online certification system.
PMI Membership Status CCR Renewal Fee:
#PMI member - $60
#Non-PMI member - $150
Note: PMI's membership renewal fee is different and separate than the certification renewal fee. A candidate can complete the renewal process at any point during his/her cycle, post-meeting of the PDU requirements by submitting the payment, no later than 90 days after the cycle end date.
PMI will send the candidate an updated certificate with the new active certification/CCR cycle dates, after processing the completed application and the renewal payment. It generally takes six to eight weeks for postal delivery of the document.
The PMI will randomly select a band of PMI certification holders for the audit process. During this time, a candidate will be required to submit supporting materials to verify any PDUs.
Therefore, a candidate must keep the documents for all PDU claims, at least 18 months after the end of the CCR cycle.
Cancellation of Certificates
A candidate has the liberty to cancel his/her certification at any time. For this, the candidate has to contact Customer Care in writing at firstname.lastname@example.org.
On receiving the application form, PMI will refund one-third of the renewal fee for each full year of the renewed certification/CCR cycle that the candidate has not used following the date of the written cancellation request.
If other extenuating circumstances prohibit a candidate from completing the certification renewal process, he/she may contact Customer Care. PMI will review and settle all claims on a case-to-case basis.
After having learned about the PMP certification cost, the renewal fee and more, let us understand the uses of this PMP certification.
What is the Use of PMP Certification?
The PMP adds value to your career. The CIO magazine ranked this course as the top project management certification because it provides palpable evidence that the candidate has the required skills and experience that employers want.
According to PMI's most recent Project Management Salary Survey, the median salary for PMP holders in the USA is 25% higher than non-certified project management professionals.
To clear the examination, the willing candidate has to pass multiple-choice question sets. The candidate has to answer 200 questions in 4 hours. The examination can be taken in 13 different languages, globally.
The PMI designs the examination to assess a candidate’s management knowledge in five different fields. The fields, along with the distribution of questions, are as follows:
- Initiating the project (13)
- Planning the project (24)
- Executing the project (30)
- Monitoring and Controlling a project (25)
- Closing the project (8)
How Long Does PMP Certification Take?
Based on eligibility criteria, the exam preparation duration depends on the type of experience or education level you already have. The following sections indicate the time required for each eligibility criterion.
It involves the candidates' degrees and relevant project handling or training hours:
Graduation or four-year degree
Project Management Training
Mentioned above as contact hours, you must hold Project Management training of a specified duration via PMP certification courses. Both offline and online modes are acceptable. You can also consider a Certified Associate in Project management (CAPM) certification.
The choice of online or offline training depends on the candidate's schedule, the requirement of interaction with guides/trainers and the price of courses.
Application Processing Time
After the application submission, you will require a certain amount of time to wait for the process of final approval or rejection. Generally, candidates can expect a response within three to five working days.
The study time varies for each person based on their level of preparation and the time taken to understand. Practical knowledge and dedication also contribute to the overall study time. Nevertheless, candidates can utilize preparation resources and guidance to speed up the procedure.
PMP Certification Advantages
The PMP certification cost is high because it is a globally recognized certificate. A professional certified by PMI can land a job anywhere in the world with an undoubted edge over other job candidates. A PMP certification benefits professionals in the following ways:
- New skills: Preparing for the certification forces you to brush up on previously learned project management skills while introducing you to the latest industry tools, concepts, and skills that are in high demand.
- Professional development: As a PMP-certified professional, you will get various opportunities to network with other PMI members who are industry experts and broaden your career prospects.
- Higher salary: According to PMI statistics, certified professionals are the first preference for any role and earn 20% more than their non-certified counterparts.
Job commitment: Preparing for the PMP exam, passing it, and achieving the certificate demonstrates your dedication and commitment toward the job.
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PMP Exam Reference Books
The two books which a candidate can use for the preparation of PMP exam are:
- The PMP Exam: How to Pass on Your First Try, Sixth Edition- Written by Andy Crowe, the founder and CEO of Velociteach, a leading provider of project management training and exam preparation.
- PMP Exam Prep: Questions, Answers & Explanations- Written by Christopher Scordo, the founder and Managing Director of PMTraining.
Skills Gained After Completing PMP Certification
Earning a PMP certification helps you learn and relearn project management skills, allowing you to be up-to-date with the latest concepts and tools being used in the industry. These are the skills you gain after preparing for a PMP certification.
- Effective communication: is the main skill all project managers need to collaborate successfully with the team and stakeholders.
- Efficient time management: Competent project managers must schedule and manage time properly for smooth project execution.
- Technical expertise: Since project management involves using various tools and methods, having practical knowledge and experience is crucial.
- Risk Management: All projects involve some risks, and having the ability to predict and manage them effectively is important.
- Leadership Skills: As the ones heading the team, project managers need superior leadership skills to manage all stakeholders and see the successful execution of the project.
- Critical Thinking: All project managers need to be able to evaluate all aspects of the project critically and be prepared for challenges.
- Problem-Solving Abilities: Projects can be hit with unforeseen challenges anytime. The project manager has to ensure the project comes to a successful end on time and within budget.
PMP Certification Jobs and Salary
Salaries vary from company to company, but the average income earned by PMP certified project managers is always more than non-certified professionals. The PMP certification cost is a one-time investment since you will earn much more after completing it. Below are some jobs you will be eligible for after earning a PMP certificate.
Vice President (IT)
Average salary: Rs. 35,76,446
The overall in charge of any IT organization’s information system along with planning, development, implementation, and maintenance.
Information Technology Director
Average salary: Rs. 35,86,275
An IT director oversees all IT operations and assesses them based on the business objectives.
Project Manager (IT)
Average salary: Rs. 17,31,173
An IT project manager specializes in managing IT-related projects for an organization.
Average salary: Rs. 23,47,997
A general program manager ensures that the organization’s overall goals are being met.
Average salary: Rs. 14,80,888
A general project manager collaborates with the team and stakeholders. They allocate resources, establish project plans, schedules, and budgets, and track the progress to ensure the project is completed on time.
Can I Take the Exam Again if I Do Not Pass?
The PMP certification cost is high, so most people want to pass the exam on the first try, but there might be situations where you fail to do so. In that case, you can retake the exam by paying a re-examination fee, given below.
- PMI members: Rs. 15,929
- Non-members: Rs. 28,961
Is There a Refund Policy? What Is the Process?
If you have paid the full PMP certification cost and might want it back for some reason, you can apply for a refund. For the refund to be initiated, you must request the Project Management Institute at least 30 days before the exam eligibility date expires. PMI will deduct $100 as a processing fee if you have not taken or scheduled the exam yet. After the refund is processed, the application will automatically close, and the eligibility period will be invalid.
You can also apply for a refund if the application was rejected or if you did not pass the audit.
Points to Note:
- You will not get a refund if your eligibility period has expired without scheduling an examination. You will also have to reapply for the exam and resubmit the fee if you still want to obtain a certification.
- You will not get a refund if you had scheduled the exam but did not take it or inform PMI of the rescheduling or cancellation.
The PMP certification can help you get lucrative job roles in IT, manufacturing, finance, healthcare, and other exciting industries.
Project Management Institute (PMI), the certifying body of PMP, published the Project Management Best Practice Guide named "Project management Body of Knowledge (PMBOK)", which is the base for the PMP® certification exam.
PMP exam is challenging for most professionals since it covers a vast array of topics conforming to the syllabus based on PMBOK. Hence, the choice of a good training institute is imperative. Passing the PMP exam is tough; therefore, it will be better if a candidate reads a few books on the topic. You can also enroll for our Online PMP Certification Training Course which covers the latest best practices highlighted in the PMBOK Guide - 6th Edition, and learn from expert practitioners and pass the PMP® exam on your first attempt.
1. Why should I opt for PMP Certification?
PMP training surely provides professionals with the capacity, knowledge, and abilities to be confident and prepared to lead complex projects. The PMP certification also equips you with the necessary technique and technical competence to complete projects successfully and on schedule.
2. Which skills do I need to develop to become a project manager?
Project management abilities are necessary to design, manage, execute, and complete projects. Project management abilities include both hard and soft skills since they assist in delegating and prioritizing work, managing resources, analyzing problems, reporting progress, and analyzing project performance. He should be able to communicate well. He should possess the versatility to pursue Negotiation, Leadership, Scheduling and Time Management, Risk Management, Critical Thinking, Technical Expertise, and Problem Solving.
3. Is PMP certification worth taking?
The PMP certification is unquestionably valuable. According to PMI data, a qualified PMP may expect a 20% salary rise. Other project managers have agreed that this accreditation provides a considerable return on investment.
4. Can I clear the PMP exam without reading PMBOK?
Yes, you can pass the PMP test without reading the PMBOK Guide.
5. How much does the PMP exam cost?
PMP exam fees for computer-based testing (CBT) are $405 for members from PMI and $555 for non-PMI members. Employees at many firms are given the option to get professional certifications and educational perks.
6. How much does PMP exam training cost?
It varies from company to company depending on the course that you are studying for the PMP exam.
7. How long does it take to learn for PMP?
On average, most successful PMP candidates study for the test for 35 hours or more. A PMP certification provides evidence of project management leadership knowledge and experience, as it includes 180 multiple-choice questions.
8. Who is eligible for PMP?
A four-year bachelor's degree or a high school diploma, 3 years of project management experience, 35 hours of project management education/training or CAPM certification. Graduates must complete 4500 project management and project leadership hours, while diploma holders must complete 7500 hours.
9. Is getting my PMP worth it?
Yes, the globally recognized PMP certification is extremely valuable for your professional growth. A PMP certificate has numerous benefits, but the biggest advantage is that you can immediately earn a much higher salary after certification.
10. How much does PMP training cost in India?
PMP certification training cost is much cheaper than the PMP exam cost. You can choose a PMP certification training course from Simplilearn which costs Rs. 12,000 and comes with a money-back guarantee.
11. Is PMP valid for 3 years?
Yes, the PMP certification is valid for three years. You need to renew your credentials before the validity passes and renew them every three years. Renewal costs $60 for PMI members and $150 for non-PMI members.
12. Is PMP tough to crack?
The PMP examination is challenging, but preparing for the assessment with thorough dedication, constant motivation, and utmost discipline will help you pass the exam easily.
Check out the video below that talks about what PMP certification is all about, followed by the top 10 reasons to get PMP certified.