How much does PMP certification cost?

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How much does PMP certification cost?

How much does PMP certification cost?
- Posted On 2024-09-09
The evidence of certified Project Managers earning higher salaries and accessing better career opportunities has created a snowball effect for PMP certification. Its significance has not only tremendously magnified but also competition among professionals has grown. PMP has grown into such importance that it is considered the gold standard among project management certifications. If you are also among the ambitious professionals desiring to take your Project Management career to the next level, a PMP certification would be the right call. Through this post, let us delve into a detailed discussion about PMP certification and get a panoramic knowledge of the processes and information

What is PMP Certification?

PMP certification is a professional global recognition designated to Project Managers recognizing their skills and competencies in leading projects and managing people or teams, business priorities and processes. This global recognition is developed by the Project Management Institute (PMI) to validate project managers with proven project leadership qualities and experience and certify them as top-class professionals.

PMP certification is highly valuable not just for the certification per se, but the commitment one has to give to attain and maintain, makes it more worthwhile. Earning a PMP certification gives professionals a high-earning power, a competitive edge and marketability in the job market.

Conditions for attaining PMP Certification

Earning a PMP Certification is conditional upon passing a 180-question exam, along with the fulfilment of certain conditions. Candidates seeking PMP Certification are required to fulfil certain qualifications specific to their educational level.

Candidates with a University degree are expected to have
- Attended 35 hours of education or training in Project management/CAPM certification
- Attained 36 months experience of leading projects in the last 8 years.
Candidates with High school/ Senior Secondary are expected to have
- Attended 35 hours of education or training in Project Management/ CAPM Certification
- Attained 60 months experience of leading projects in the last 8 years
The 180-questions exam is available in 15 languages :
- Arabic
- Chineses (Traditional+ Simplified)
- English
- French
- German
- Hebrew
- Indonesian
- Italian
- Japanese
- Korean
- Polish
- Portuguese
- Russian
- Spanish (Spain + Mexican)
- Turkish
The exam typically tests the candidate's capacity on five processes of Project Management:
- Initiating
- Planning
- Executing
- Monitoring & Control
- Closing
Candidates seeking the PMP certification are thus expected to be proficient at these five processes and also have a solid grasp of the topics centred around excellent project management.

How long will it take to get PMP certification?

Getting a PMP certification will vary depending on the candidate's level of professional experience and educational qualification. The duration may be a little longer for fresh candidates and PMP certification demands hefty work experience in project management particularly as leading projects from 36 to 60 months in the past 8 years. Candidates with a bachelor's degree should satisfy 36 months of work experience and candidates with a senior secondary qualification must fulfil the 60 months experience. Additionally, candidates must have attended formal training in Project management for 35 hours or CAPM certification.

Attaining the requisite experience is the only time-consuming factor in attaining the PMP certification. Candidates fulfilling the above conditions will only need time to prepare and sit for the certification exam. In case a candidate fails to clear on their first attempt, they are allowed to retake the test three times in a year by paying additional examination costs.

Passing the PMP certification exam will depend on the candidate's commitment, effort and the preparation strategy the candidate employs. They should prepare for all the topics that focus on the five main components the test is conducted upon. Candidates may prepare along the project Management topics, such as:
- Risk management
- Scope management
- Quality management
- Cost management
- Time Management
- Integration Management
- Human Resources Management
- Communications management
- Procurement Management
- Social and Professional Responsibility
Ideally, it may take one to three months for expert professionals with experience in project management.

What is the cost of the PMP certification exam?

To sit for the PMP certification exam, prospective candidates are to pay a certain amount as certification cost. The cost is to be paid for each examination the candidate takes, whether for a first-time or retake. The cost is categorised into two different structures:

For PMI Members:
- Exam Cost: USD 400 ( India: INR 23,288)
- Exam Retake Fee: USD 275
For Non-Members:
- Exam Cost: USD 555 ( India: INR 47,150)
- Exam Retake Fee: USD375
A candidate can become a PMI member by paying USD129 yearly and an additional application fee of USD10(one-time payment).

PMP Certification Course Fees

The cost of a PMP Certification varies depending on the location and institution. It can cost anywhere between USD 300 to USD 3000. There are several professional training institutes that provide PMP certification courses online. Online courses may cost in the range of USD500 to USD1000 depending on the delivering institution.

Is PMP certification lifetime?

The PMP certification is not for a lifetime. To continue and maintain its validity, candidates must commit to earning 60 professional development units (PDUs) every three years. The PDUs are hourly blocks of time that candidates commit to learning, volunteering or teaching others in professional activities.

How long is PMP valid?

The PMP certification is valid for three years and needs to be renewed every three years to maintain its validity. Candidates need not take another exam, but fulfill the 60 PDUs to keep the certification active. If the candidate fails to update the certification, it can result in the suspension of the certification for one year.

There is also another alternative to maintaining your PMP certification in place of 60 PDUs. Candidates can take the Continuing Certification Requirement (CCR) course by PMI to fulfil the contact hours requirement.

What is the PMP certification renewal fee?

The PMP renewal certification renewal fee is categorised as:
- For PMI Members- USD60
- For Non-Members- USD150
Project Managers with greater professional goals and ambition will find attaining a PMP certification the ticket to materialize their dreams.