PMP (Project Management Professional) is a globally recognized project management certificate. It is awarded to an experienced project manager who successfully passes the certification exam. The exam is organized and conducted by PMI (Project Management Institute).
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 fees is charged by Project Management Institute (PMI), which is standard all over the world. The costs other than the exam fee vary with the country.
Out of the components mentioned in the previous para, the PMP exam fee and training cost are the most expensive components of attaining the PMP credential. In the USA, the exam fee is $555, and the training fee can vary between $300 to $2000. Online training can cost as little as $300 but live training can go up to $2000 and sometimes even more than that.
You can save a lot of money by investing in reasonably priced training. Our online PMP training is priced as low as $249 and it comes with a 100% pass guarantee. The total cost of PMP certification with our training is about $950 but with other providers, it can shoot up to $3000.
Let’s look at the different costs involved in cracking the PMP exam.
What is PMP Certification?
PMP is a professional certification, which is awarded after passing a very tough exam.
PMP certification exam is conducted by PMI. You need to meet the eligibility requirements before you can apply for the PMP exam. Passing the exam requires extensive study and preparation.
PMP certificate demonstrates that you have knowledge, skills, and experience for leading and directing projects. It can be done by project managers from any industry including manufacturing, healthcare, construction, and information technology (IT).
PMP certificate is recognized globally. It is the most popular project management certification and there are over a million PMP-certified professionals all over the world. You can read about its benefits in one of the subsequent sections.
PMP Certification Cost
There are seven major cost heads or components of getting PMP certification. They are described in detail in the following sections.
The table below gives a quick snapshot of the first five cost heads. We have not added the sixth head in the table assuming that you will crack the PMP exam on the first attempt. We have also ignored the seventh head as the renewal fee is paid only after you become PMP certified.
|S.No.||Cost Head||Expense||Expense with Our Training|
|2.||Training Fee||$300 – $2000||$299|
|3.||Practice Tests||$60 – $300||Not needed (comes bundled with our training)|
|5.||Other Books||$40 – $100||$40 – $100|
|Total||$990 – $2990||$929 – $989|
The PMP credential can cost you anywhere between $990 – $2990. 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 Application Fee
The PMP exam can be taken only after registering yourself on the PMI website and paying the PMP certification fee.
PMP aspirants can apply for the exam after taking the PMI membership or directly without becoming a PMI member.
To become a member, you will have to pay a membership fee and joining fee of $129 and $10 respectively. It is beneficial to become a PMI member as PMI gives a discount on the PMP exam fees to its members. The non-member examination fee is $555 but, for members, it reduces to $405.
We would suggest you become a PMI member before applying for the exam as it comes with a host of benefits. Apart from a discount on the exam fee, the members get a discount on the re-examination fee (#6) & PMP 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 $550 for appearing in the PMP exam.
Note: You can read my article on the benefits of PMI membership for the full list of benefits.
2. PMP Training Fee
There are two mandatory requirements for applying to the PMP exam – 36 or 60 months of project management experience and 35 contact hours of project management education is mandatory for taking the PMP examination.
A good PMP certification training course can cost anywhere between $300 and $2000. It can become the most expensive element of your total cost. It varies with the geographical region institute and type of PMP certification course that you choose.
You can either enroll in instructor-led live training or self-directed online training. Live training is generally much more expensive than an online course.
In the USA, good live training can cost between $1000 and $2000. On the other hand, good online training can cost between $300 and $500.
We would suggest you enroll in training that has been designed by an experienced and knowledgeable instructor. It will improve your chances of passing the certification exam on the first try.
If you are looking to crack the PMP certification exam on the first attempt then you can take a look at our PMP online training. You can get our training at a very reasonable price.
3. Practice Exam
You will find a lot of free practice tests on the web but you must invest in a well-paid PMP exam simulator because many of the free tests have questionable quality.
A simulator that has a lot of mock questions is one of the most important tools for passing the PMP exam on the first attempt. A good practice exam 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 $60 and $300.
We would suggest you practice mock questions from our Simulator. Currently, you can get its lifetime access at a deep discount.
4. PMBOK Guide
The PMBOK Guide (A Guide to Project Management Body of Knowledge) is a big hefty project management tome that is considered the primary reference for the PMP exam preparation. PMBOK is a registered mark of PMI.
Although it is not mandatory to study the PMBOK Guide it is 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 $40 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 $40 and $100. 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 a re-examination fee.
The re-examination fees are respectively $275 and $375 for members and non-members.
7. Certification Renewal Fee
As per the PMI’s continuing education requirements, every PMI certification has to be renewed after three years. There is a formal process for renewing the PMP certificate., which involves collecting 60 PDU (Professional Development Units) and paying a fee.
If you have a PMI membership, you need to pay $60 for the renewal; otherwise, you need to pay $150. You do not need to remain a member for all three years for renewing the certificate – you can either take membership in the third year or just pay the full renewal fee.
How to Become PMP Certified?
You can follow the below mentioned steps to study and pass the exam.
- Check your eligibility – In order to apply for the PMP exam, you need to have either 36 or 60 months of project management experience and have attended a 35 contact hours training program. You can refer to our article on PMP certification eligibility criteria to understand these requirements in detail.
- Join a 35 contact hours training program – A 35 hours training is mandatory for appearing in the PMP exam. A PMP online training is the quickest and cheapest way to get 35 contact hours certificate. You can join our PMP training program to complete this requirement. It comes with a lot of goodies that are not provided by any other training company.
- Apply for the PMP exam – After completing the mandatory requirements you can go to pmi.org for filling the application form. You can read our article on the PMP application and registration process to understand how to fill the from.
- Study for the exam – You need to study rigorously and strenuously to pass the exam in your first attempt. You can do this by following the training course. You can go ahead and take the exam once you start scoring 75% in PMP practice exams.
- Pass the exam – Go to the exam center on the D-day and pass the exam.
Why should you Pursue PMP Credential?
There are many advantages of becoming PMP certified. One of the primary reasons that people pursue PMP is the potential salary increase. Statistics show that certified PMPs get 25% more salary than non-certified professionals. You can read our article on the benefits of PMP certification to look at all the reasons for pursuing PMP.
Is PMP Certification Worth the Cost?
A lot of people feel that PMP is a tough exam that needs a lot of study and effort. Furthermore, as we have just found out, PMP is a costly exam. Many professionals question the value of the PMP certification. Our analysis suggests that passing the PMP exam is worth the effort and cost.
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 is a coveted project management certification. Unlike many other certifications that target a particular industrial domain or geography, a PMP-certified project manager is sought by employers from 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 in our training.
Although the cost of pursuing PMP is very high it is nothing compared to the salary advantages that you get after becoming PMP certified.
PMP Exam Prep at Reasonable Price
Our PMP training program contains a lot of study material that will help you to pass the exam on your first attempt. You can buy our training program at a very reasonable cost.
Our PMP program is priced as low as $99 in the USA. Our training is unmatched in the industry. It will enable you to pass the PMP exam on 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 that PMP certification fees are very high? Do you think it is worth pursuing this credential?
Please leave a comment below.
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