What is the cost of the PMP Certification?

Original Content Source: https://medium.com/@passyourcert24/what-is-the-cost-of-the-pmp-certification-15b2be00d4cd

Earning certification as a Project Management Professional PMP certification isn't an easy task. It takes time, effort, and even money. The cost of the outlay is substantial There is a lot of unaccounted for costs.

To facilitate discussion To make it easier to discuss, I'll divide the costs to take the exam PMP test into 3 categories.

Fixed Cost

Variable Cost

Other Costs

The costs involved in getting this certificate will differ depending on the individual depending on their particular situation and the requirements.

Fixed Cost

The PMP exam cost will be 555 dollars for the initial attempt. If you fail the exam, you're allowed two additional attempts within your eligibility period of one year for a fee of 375 USD per attempt.

If you're already a Project Manager Institute (PMI) member, the first exam cost is just 405 USD, with only $275 for any retest.

The cost of a new PMI membership fee is currently 139 USD and the annual renewal cost at 129 dollars.

I suggest you join the PMI before you apply for the PMP because the discount exam fees are more than that associated with PMI membership.

Cost Required: 405-555 USD

Variable Cost

Pricing for PMP training is extremely dependent. There are many options to choose from from a variety of training companies, such as online, virtual, and classroom-based training.

Training online is the cheapest, costing as low as 150 USD. Training in the classroom is the most costly and begins at $1,000. Between these two is the cost of live online training

I would recommend you take an online course to complete your 35 hours of education It is cost-effective and flexible. It can also be completed in the at-home comforts of your home.

Cost Required: 150-1,000+ USD

Other Costs

In this article, I'll discuss some of the expenses that can be incurred in the course of the way you study for your test.

Certain training programs will include studies notes and questions to practice however most of the time, you will need to purchase your own or add to the resources you're provided. The costs for these comprise:

Cost of books

Cost of the sample questions

The cost of PMI membership

Other tools cost more money.

Cost of Books

To help with PMP test preparation, I would suggest buying at minimum two top PMP examination reference guides as well as the Project Management Body Of Knowledge Guide (PMBOK).

If you're a PMI member you can download a digital version of the PMBOK Guide for free. Members who are not members will need to purchase the guide.

Cost Required: 100-180 USD

Cost of PMP Sample Questions

The PMP exam is comprised of two hundred questions that must be completed in just four hours. This isn't an easy task and requires plenty of practice.

You can also training by subscribing to a few simulators, purchasing question banks, or testing your ability by taking PMP Exam Questions.

Cost Required: 50-150 USD

PMI Membership Cost

As I suggested earlier, you can get back the 139 USD you spent on a PMI membership for the exam by itself. The digital copy for free that comes with The PMBOK Guide only adds to your rewards.

Cost of Other Tools

Some additional tools and books are available for study materials which will help ease you through your PMP test preparation, and leave you prepared for the test.

One excellent study aid is "The PMP Preparation Tool which includes flashcards, notes on study as well as true/false assertions and The Formula Guide, practice questions and many other resources.

Cost between 50 and 100 USD

Total Cost for the PMP Certification

The cost of taking the PMP certification exam is as below:

Note: I have not added the "Cost of Other Tools" to the minimum cost listed above, because you may or may not decide to purchase these materials. They are useful, but not necessary for PMP exam preparation.

You can therefore find that the cost required to obtain the PMP certification exam can range between 844 USD and 1,715USD or more.

The price is lower if you opt for an online course, but the cost is significantly higher if you go for life or a classroom online training.

Note that in my calculations, I did not include the cost to stay in hotels transportation, food or any other costs related to traveling to the classroom for a training program in a different city.

Summary

The cost to obtain PMP certification is contingent on the choices you make. You could spend under 844 dollars, or significantly higher than $1715 dollars. The question is what amount do you wish to spend?

Are you studying for the PMP test? What is the amount of money you have paid to the exam date? Do share your experience in the comment section.

Original Content Source: https://medium.com/@passyourcert24/what-is-the-cost-of-the-pmp-certification-15b2be00d4cd

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