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The cost of the PMI PMP certification is not limited to the cost of the exam. When putting a budget together for your certification pursuit, it is important to take other costs into consideration to avoid getting stuck along the way. In addition to the exam fee, you also need to count the cost of training and preparation materials. In this guide, we will discuss the potential costs for the PMP credential, including the exam fee, training costs, and study materials.
The first thing you have to understand is that the PMP certificate is not cheap. First of all, the fee for the computer-based version of the exam is $405 for the PMI members and $555 for the non-members. If you are taking the paper-based test, the fee for the PMI members will be $250 and $400 – for non-members. Now, this is not the only fee you have to pay in the course of earning your certification. There is also the cost of prep courses, sample practice tests, books, and many other preparation tools.
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Details of PMP certification potential costs
- PMI membership
If you are really interested in enjoying all the benefits that come with your PMP certification, it is highly recommended that you become a member of PMI. Although this is not a prerequisite for writing the exam, but the benefits are more than the token you pay for the membership. Currently, the annual fee for the membership, including the first time registration cost, is $139. If you would like to join the local chapter of PMI, you can, but this comes at an additional cost. Becoming a PMI member reduces your exam fee significantly. For the PMP test, you save up to $150 as a member, which is more than your membership fee. Apart from the cost saving, you also enjoy some amazing benefits, which include the opportunity to freely download the latest edition of the PMBOK Guide and other resources published by PMI.
- PMP exam fee
Another cost you will incur while taking your PMP exam is the cost of the test. If you are taking the computer-based exam, you will be required to pay $405 and $250 is the cost for the paper-based test. These prices are for the PMI members only. When taking the PMP exam, you have the opportunity to write it up to three times within a year. However, you have to pay the fee of $275 as a member and $375 as a non-member for each retake. This is really a big deal in terms of budget. This means if you don’t pass the test until your third attempt, you will spend almost $1,000 as a member and more if you are a non-member. No doubt, PMP is expensive to obtain and the candidates must count their costs before embarking on the journey.
- PMBOK Guide
This is the official reference resource book for the PMP certification exam. At this point, it is important to mention that there is a difference between the PMBOK Guide and the PMP exam curriculum. The students must understand this when preparing for their tests. Even though it is not the exam curriculum, it is still important that you read the PMBOK Guide at least once before you attempt your certification test. The guide contains information that will be helpful for you because you may not find it in other reference books. If you are a PMI member, you can have this tutorial for free. However, the non-members will have to purchase it for the sum of $47.98.
- PMP exam reference book
The PMP prep reference book is designed to equip the candidates with the skills and knowledge required to pass the certification exam. The guide can cost up to $100. However, you may still get it for free online, but you will have to search diligently.
- Training course
The test takers are required to have at least 35 contact hours of project management education before attempting the exam and this is where the major cost for the certification is expended. You may pay $1,000 for five-day workshops. Of course, you can also meet this prerequisite through the online platform, which is cheaper than the physical lectures at the PMP bootcamps. To reduce drastically the cost of training courses, it is recommended that you register as a member of PMI so that you can have access to some free online conferences. In addition to this, you may also scout the Internet to find very cost-effective trainings to meet up with your project management education.
- PMP mock test and practice exam questions
Depending on where you are searching, you can spend up to $200 to purchase the mock exam questions. Understand that taking practice tests is an integral part of your exam preparation process and it is critical that you dedicate enough time to it during your preparation. There are many platforms that offer these questions for sale online. It is also important to mention that you can get the practice questions for free. However, when searching for free resources, you have to be careful not to pick up outdated materials. Yes, you can get free up-to-date and genuine practice questions, but when something is free, it’s better to check it twice.
Conclusion
There are some other costs that you can incur in the process of earning your certification other than what has been highlighted above. For instance, if there is a need to audit your PMP application, you will be required to send an audit experience substantiation to your current or previous supervisors and then forward the package to PMI. This cost will be borne by you.
