The major components of PMP certification cost are exam fee, training fee, study material expenses, and practice test simulator cost. Out of these PMP exam fee is charged by Project Management Institute (PMI), which is standard all over the world. The costs other than the exam fee vary with country.
Out of the components mentioned in the previous para, PMP exam fee and training cost are the most expensive components of attaining the PMP credential. In Canada, the exam fee is C$694 and training fee can vary between C$375 to C$2500. An online training can cost as little as C$375 but a live training can go up to C$2500 and sometimes even more than that.
You can save a lot of money by investing in a reasonably priced training. Our online PMP training is priced as low as C$299 and it comes with 100% pass guarantee. The total cost of PMP certification with our training is about C$1200 but with other providers it can shoot up to C$3700.
In this article, you will find a discussion about the different costs involved in attaining the PMP certification. It will help you if you reside in Canadian cities like Toronto, Montreal, Vancouver, Calgary, Edmonton, Brooks, and Lethbridge. Otherwise, if you are not a resident of Canada, you can do currency conversion in your local currency.
Lets look at different costs involved in cracking the PMP examination.
PMP Certification Cost in Canada
There are seven major cost heads or components of getting PMP certification. They are described in detail in the subsequent sections.
The table below gives a quick snapshot of the first five cost heads. We have not listed the sixth head assuming that you will crack the PMP exam in the first attempt. We have also ignored the seventh head as renewal fee is paid only after you become PMP.
|S.No.||Cost Head||Expense||Expense with Our Training|
|2.||Training Fee||C$375 - C$2500||C$374|
|3.||Practice Tests||C$75 - C$375||Not needed (comes bundled with our training)|
|5.||Other Books||C$50 - C$125||C$50 - C$125|
|Total||C$1240 - C$3740||C$1164 - C$1239|
The PMP credential can cost you anywhere between C$1240 - C$3740. The exam fee is fixed so you cannot do anything about it but you can save money by investing in a reasonably priced training program.
1. PMP Exam Application Fee
PMP exam can be taken only after registering yourself on the PMI website and paying the application fee.
You can apply for the exam after taking PMI membership or you can directly apply for the exam without becoming a PMI member.
To become a member, you will have to pay a membership fee and joining fee of C$161 and C$12 respectively. It is beneficial to become a PMI member as PMI gives a discount on exam application fee to its members. The non-member examination fee is C$694 but, for members, it reduces to C$507.
We would suggest you to become a PMI member before applying for the exam as as it comes with a host of benefits. Apart from a discount on the exam fee, the members get discount on re-examination fee (#6) & certification renewal fee (#7). They can also download the PMBOK Guide free of cost (#3).
Whichever option you choose, you will have to pay a total of approximately C$680 for appearing in the PMP exam.
Note: You can read my article on benefits of PMI membership for the full list of benefits.
2. PMP Training Fee
The 35 Contact hours of project management education is mandatory for taking the PMP examination.
A good training can cost anywhere between C$375 and C$2500. It can become the most expensive element of your total cost. It varies with the training institute and type of training that you choose.
You can enroll into an instructor-led live training or self-directed online training. A live training is generally much more expensive than an online training.
In Canada, a good live training can cost between C$1250 and C$2500. On the other hand, a good online training can cost between C$375 and C$625.
We would suggest you to enroll into a training that has been designed by an experienced and knowledgeable instructor. It will improve your chances of passing the exam in the first try.
If you are looking to crack the PMP exam in the first attempt then you can take a look at our PMP online training. You can get its lifetime access at a very reasonable price.
3. Practice Tests
You will find a lot of free practice tests on the web but you must invest in a paid exam because many of the free tests have questionable quality.
A simulator with lot of mock questions is one of the most important tool for passing the exam in first attempt. A good simulator will not only test your knowledge but also give you a lot of confidence. You must invest in a good simulator to increase your chances of passing the exam.
The price of a good simulator can vary between C$75 and C$375.
We would suggest you to practice mock questions from our Simulator. Currently, you can get its lifetime access at a deep discount.
4. PMBOK Guide
The PMBOK Guide is the primary reference for the PMP exam preparation. Although it is not mandatory to study the PMBOK Guide but it useful for understanding the PMI terminology.
One of the benefits of becoming a PMI member is that you can download a free digital copy of the PMBOK Guide.
However, if you are not comfortable with a digital copy, you can buy a hard-copy of the Guide. A paper copy of the Guide can cost you around C$50 on Amazon. You can click on the following links to check prices on Amazon.
Note: Find out which version of the PMBOK Guide is being used for the PMP exam.
5. Other Books
There are many exam preparatory books available in the market. You can buy any one of them to understand the PMBOK Guide concepts in simple language.
A good PMP book will cost anywhere between C$50 and C$125. It can bring you one step closer to clearing the PMP examination.
Here are some good books that you can refer to:
- Rita Mulcahy - PMP Exam Prep
- Andy Crowe - PMP Exam Book
- Kim Heldman - PMP Study Guide
- Andrew Ramdayal - PMP Exam Prep Simplified
- Head First PMP
6. Re-examination Fee
After your application is approved, you are allowed a maximum of three attempts to pass the exam. In an unfortunate circumstance, if do not clear the exam you can take it again. For each attempt, you will have to pay re-examination fee.
The re-examination fees is respectively C$344 and C$469 for members and non-members.
7. Certification Renewal Fee
The PMP certificate has to be renewed after every three years. There is a formal process for renewing the certificate, which involves paying a fees of C$75 and C$187 respectively for members and non-members. You do not need to remain a member for all three years to renew your certificate. You can either take membership in the third year or just pay the full renewal fee to renew the certificate.
PMP is no doubt the most demanded credential and qualification in the world. Unlike many other certifications that target a particular industrial domain or geography, PMPs are sought in many different industries.
The cost of doing PMP certification varies from country to country. The main difference comes mainly because of the training fee. You can save a lot of money by enrolling into our training.
Although the cost of pursuing PMP is very high but it is nothing as compared to the salary advantages that you get after becoming PMP certified.
PMP certification is well worth the time and cost investment. If you have decided to pursue PMP then you should start your preparation immediately. You are potentially losing a lot of money by delaying your exam.
PMP Exam Prep at Reasonable Price
Our PMP training program contains a lot of study material that will help you to pass the exam in your first attempt. You can buy lifetime access to the program at a very reasonable cost.
Our PMP program is priced as low as C$299 in Canada. Our training is unmatched in the industry. It will enable you to pass the PMP exam in your first attempt and, in case you are unsuccessful, we will refund 100% training fee.
Over To You
What is your take on the cost involved in pursuing the PMP certification? Do you think it is very high? Do you think it is worth to pursue this credential?
Please leave a comment below.
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