One of the most important factors to be considered before going for the PMP certification is the amount of money that will be spent on it. How much is the PMP exam fee? Undoubtedly, the cost is high. But, it is definitely worth it.
Not just the exam cost, there are other aspects that contribute to your expenses as well. This article explains the various details where you need to spend your money.
How Much Is The PMP Exam Fee?
You have to pay $555 to the PMI for the PMP exam. After your application is approved you have to make this payment. But you can avail a benefit on the examination fee. By joining PMI Membership. If you are a PMI member then you have to pay $405 for the exam.
PMI membership fee is $129 and to avail the discount on the examination fee you have to pay $10. So on an average, you have to pay $555 to appear for the examination.
What Are The Other Factors That Costs For The PMP Certification?
One of the requirements of PMP certification is 35 contact hours. So you have to showcase your 35 contact hours to the PMI. For this, you have to attend formal project management training.
Today there are a number of training options available and the cost of training depends on the type of training or the training provider.
There are different modes of training Classroom training, Online training, Virtual training.
Always be sure that the training provider should be teaching you all the domains knowledge which is required in your training.
The cost of online training programs costs you around $180. For virtual classes, the cost will be around $500-$1000. And for live training, it’s somewhere around $1000. So PMP training will costs you somewhere around 180-1000 USD.
Apart from this, you can also gain your 35 contact hours through an online self- learning course. These courses are easily available online and cost you around $200-$500.
PMBOK Guide And Other Reference Books
For your preparation, you have to buy some study material. The standard book which generally all aspirants use is the PMBOK Guide. For PMI members the PMBOK guide digital copy is freely available.
You can buy a hard copy if you are not comfortable studying from a digital book. Purchase the PMBOK Guide from Amazon. The book will costs you around $40.
The other reference book which you will purchase for your better preparation will costs you somewhere $40-$100. I will suggest reading two reference books so to have a better understanding of the project management topics.
Always go for PMBOK guide many of the aspirants found it hard. Yes, it is tedious but once you understand the concepts it will be easy for you.
PMP Practice Tests
There are many free paid practice tests available in the market. Invest in good practice tests. These practice tests will provide you the real exam environment. You should take such tests before sitting for the real exam. This will cost you in between $60-$300.
In the exam you have to face 200 questions it is hard to solve these many questions. Practice before exam boosts your confidence. These practice exams contain 1500 questions for practice. So you can buy the practice exam you like but always invest in a good one.
Other Material Required For Study
The other study material includes formula guide to help you understand the formula, ITTO guide, Flashcards, cheat sheet, etc. which might be required to help you during your preparation. The costs for this material varies as per your utility.
Fee For PMP Reexamination
You are allowed to take 3 attempts for the PMP exam. If unfortunately, you are not able to crack the exam in the first attempt. You can take the exam again. But every time you have to pay the examination fee. The cost of re-examination for PMI members is $275 and for non- PMI members are $375.
Renewal Fee For PMP
You have to keep your certification inactive state and for that, you have to renew your certification after every three years. If you are a PMI member then you have to pay $60 and if not then, you have to pay $150 as a renewal fee.
So by reading this article, you must get an idea about the cost of PMP certification. But remember the costs varies from person to person. The costs vary as per your geographical area, the training you took, the study material you used.
As the cost of getting the PMP certification is not cheap but after you get your certification you will definitely fell its worthwhile. So if you are thinking to take this certification then don’t waste time and go for it. This will definitely give you a good career hike.
Over To You
What do you think about the PMP certification cost? Is it really worth it? Have you taken the PMP exam? How much do you spend in your PMP certification? Please share your views in the comment section below.