For the professionals, those who want to gain global recognition, PMP (Project Management Professional) is a valuable certification for expanding the skills and enhancing the job opportunities. PMP certification is nothing but a demonstration of knowledge for any professional required to direct projects and benefit organizations.
While benefits of PMP certification are many but taking PMP exam is not a cheap task to take. For those who are willing to advance their career as a professional project manager, the perks offered by the certification can easily conceal the PMP exam Cost Breakdown.
PMP Examination Pattern
The examination for the PMP certification is a 4 hrs test that has in all 200 multiple-choice questions. These questions are divided according to various sections, and each section has a fixed weight age in the test. Following is the section-wise distribution of the PMP certification exam:
- Initiating carries a weight age of 13 percent that is 26 questions.
- Planning group covers 24 percent of the test, and comprises of 48 questions.
- The Executing group carries 31 percent that accounts for 60 questions out of 200.
- Monitoring and controlling group contributes 25 percent that is 50 questions.
- The Closing group has 7 percent of questions that means only 16.
These 200 questions have 25 questions as pre-test questions that are randomly arranged. You cannot differentiate between the scoreable questions and the pre-test questions. These pre-test questions are designed to test the validity of the future examination.
Condition for Variation in Fees
The fee for the PMP certification depends on various factors:
- PMI members
- Non-PMI members
- Re-attempt of Examination
- Renewal of Certification
Let us analyze the cost of PMP certification exam cost closely;
PMP Exam Fee Breakdown Description
After the successful submission of the PMP examination, you need to wait for the approval of your application prior to which you will be permitted to sit in the examination. You can take up the examination within one year of your eligibility period after the approval. You can go for the examination thrice during this period if you are not able to qualify it for the first time. The fees for the second and the third exam are made on a discounted basis.
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PMI Membership
Being a PMI member offers you many perks. Not only there is a relaxation in the fees for the examination, but also in case of PMBOK. The membership fee for the PMI is $129, which is accompanied by a $10 one-time fee. This membership fee varies if you are a student, or a retiree. For students, the fee is $32 and for a retiree, it is $65 in addition to the one-time charges.
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Student Membership
For the students who want to take up this membership, they should enroll themselves in a full-time degree providing a program at any college that is global equivalent to U.S. accreditation.
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Retiree Membership
For those seeking this membership should have been active PMI member for 5 or more years and have taken active employment.
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Membership Renewal
For those who are already a member of PMI and want to make the renewal, they just need to pay the set renewal fees. For the PMI members, the renewal fee is $119. In case, your membership has expired and you want to rejoin, you will be considered as a new member and have to pay the membership fee in full that is $129 and $10 as one-time charges.
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PMI Examination Fee
Candidates taking up the examination for the first time have to pay the examination fee as $555. If you have already taken PMI membership you will have to pay $405 only.
For those who are not able to qualify the certification examinations in one go, have to re-fill the examination. The total numbers of attempts allowed upon payment of re-appear fees are three. PMI members are benefited here as well they need to pay an amount of $275, which is $375 for non-members.
Other Aspects of Examination Cost
Till now we have discussed the major aspect of the PMP examination that is the examination fee. But there are other aspects that add to the expenses, like the training and extra-studies costs. It is entirely your choice to choose from the available option of training like the online courses, instructor-led training, or the classroom courses. The charges for the training change according to the course you have chosen. Classroom courses can change from $200 to $2,500 whereas the instructor-led courses can range from $1,000 to $2,000. Online courses can be as cheap as $500.
Extra Studies
Undoubtedly, the entire information required to clear the examination is present in the PMBOK, but there are students that have the tendency to gain in-depth knowledge of the content and achieve higher grades. If you are one such aspirant, you can buy extra books that might add to the examination cost. These books may cost from $40 to $100. Also, you can buy online practice papers to improve your score and make a thorough practice of the subject matter. These practice papers can cost $60 to $100.
Is PMI Membership Worth It?
As mentioned above, PMI members are largely benefited than the non-members. When it comes to payment of examination fees, members receive the relaxation. Other than this, members receive the PMBOK for free. Also, if you are not able to pass the certification in the first go, members can save up to $100 on the re-appear fees.
PMP Certification Renewal
In order to maintain your PMP certification you need to follow the following steps:
- Report and Earn 60 Professional Development Unit during the certification cycle.
- Completely fill the details in the renewal certificate.
- After the confirmation, fill the renewal fees.
Again, this fee varies from members to non-PMI members. For PMI members this fee is $60 and for the non-members, it is $150.
We have carefully compiled the cost linked with the PMP certification, and also all the possible expenses that can hit your pocket. But, it is mandatory to state that in spite of all the expenses, PMP certification is worth the cost. The global recognition and the extended salaries received by a PMP professional can easily cover up the expense once the certification is attained.
