Technology

What are the costs associated with PMP Certification?

PMP Certification –

PMP Certification is considered as the most renowned credential in the field of project management and involves its own PMP certification cost. it demonstrates the ability of project managers to manage projects by applying the skills and in-depth knowledge of the field. The certification has to be renewed every three years by submitting Professional Development Units (PDUs) which is earned every year.

In recent years, this prestigious credential has become a mandatory requirement for organizations. According to a survey conducted by PMI, several businesses have recruited professionals with PMP certification for managing their projects. It is quite evident that businesses have significantly improved their operations with the assistance of such professionals.

PMP Certification Cost

Earning the PMP credential involves several costs. However, it is totally worth investing in the PMP certification, as certified professionals get universally recognized and earn 25% more salary than traditional project managers annually.

Let us have a look at the PMP Certification cost involved in earning the credential.

  • Costs incurred for taking up the PMP Exam:

For the computer-based testing, a member of the Project Management Institute (PMI) must incur $405, and a non-member must incur $555 while applying for the PMP Exam.

A non-member is required to pay $555 for becoming a member of PMI as well as for the examination fee while submitting the application form.

  • If a candidate re-applies for the exam:

A member of the PMI must pay $275, and a non-member must pay $375 while submitting the application for re-examination.

  • Renewal fee for PMP Certification:

On meeting the PDU requirements, a candidate will be notified regarding the renewal fee that has to be paid for maintaining the certification. A PMI member shall incur $60, and a non-member incurs $150 for renewal of the PMP Certificate.

  • The cost of PMP Training is incurred separately and varies based on the location of the candidate and the training provider selected. It is believed that the average cost, a candidate may incur $2000 while enrolling for the training sessions. Besides, candidates also have the choice of attending in-class sessions or live online classes for PMP Certification Training.
  • On becoming a member of PMP, a candidate is required to pay $129 per year and an additional $10 for the application.

Candidates must note that the membership renewal fee and the certification renewal fee are different. Being a member of PMI entitles candidates to save on the certification costs of PMP along with other credentials offered by the PMI. Project managers who wish to earn more certifications in the project management field can invest in the membership program.

Looking at the cost, the big question which pops into the minds of individuals aspiring to earn PMP certification is whether incurring such huge costs is worth it or not. The recent studies conducted by PMI have unveiled that there is a huge demand for Project management Professionals universally. However, there are only 100,000 professionals till date. Thus, traditional project managers aspiring to become certified professionals can invest in PMP Certification. The credential entitles them to stand out from the crowd get hired by organizations from all over the world.

An option to consider for aspirants is to talk to the employers. Several organizations are helping candidates pursuing PMP certification in terms of cost. As businesses benefit from having such certified professionals on board, employers willingly pay for the certification costs.

Pursuing a career in project management itself is considered a smart move by many. Owning the most distinguished credentials of the project management field is the best investment an individual can make in terms of costs and efforts for attaining higher returns in the future.

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