Project Management Professional, popularly known as PMP, is the most well-known project management certification for project management professionals, which is offered by the Project Management Institute (PMI). To assist you in making the appropriate financial preparations, we will discuss the PMP certification cost in this blog.
Cost Of PMP Certification – Three Elements Of The PMP Cost
For those seeking PMP certification, the cost is a crucial consideration. Many PMP certification applicants take into account the test and training session costs. The cost of PMP certification, however, also includes additional factors. What budget should you set aside for obtaining your PMP certification? Other than the training program and test fee, what else does the PMP certification cost? For PMP certification, as per PMI standards, there are three primary costs:
- Cost of PMP Certification Training: $50–3,500
- $555 for the PMP exam
- PMP Exam Study Time: six months
Each of these cost components will be discussed in depth one by one.
Exam Fee For PMP Certification
There are two alternative prices for the PMP test cost offered by the Project Management Institute (PMI). For those who are not PMI members, the PMP Certification test costs 555 USD, whereas it costs 405 USD for PMI members. If you decide to join PMI at the time of your application, just 555 USD will be required for the test price and the membership fee. Therefore, whether you choose membership or not does not affect the overall cost. However, choosing membership grants one year of free access to PMI resources, including the PMBOK Guide. As a result, it is advise choosing PMI membership while applying for the PMP.
Be aware that there are three costs associated with obtaining a PMP certification; the test price is only one of them. Other expenditures include training expenses and planning time. In the following sections, it is examined every expense element associated with PMP certification.
Cost Of PMP Certification: What Does It Cost To Get A PMP Certification?
The PMP certification is a significant credential for those in the project management industry. People who are certified as project managers are in high demand as project management becomes more and more widespread. If you work in or want to work in the project management industry but lack a PMP certification, you should understand how crucial it is to achieve so. You’re probably also looking for the cost of the PMP certification.
How much does the PMP certification cost, then? There are three critical parts to the cost of the PMP certification. The price of PMP certification training and the PMP test fee is immediately apparent. Another factor, which may be referred to as the “hidden” PMP certification cost, is something else you need to be highly aware of. You will pay this price in time as you prepare for the PMP certification test.
Cost Of PMP Certification: Preparation Time
A hidden expense associated with the PMP Certification fee at the beginning of the article is noted: the preparation time. Because most of us are working professionals, taking this project management course will take away from our valuable free time. However, since you will be the only one to choose whether to have a lesson or not, you may reduce this impact with a self-paced online PMP certification training course. For instance, if you want to pass the PMP Certification test within three to four months, you will only have time to prepare for the exam for five to six hours a week. Naturally, the length of the training will also rely on your commitment, professional experience, and project management experience.