One of the most important considerations that PMP aspirants have is the cost of the PMP certification and the cost to maintain the certification once they get certified. In this article, we will break down all the costs associated with getting certified.
The amount of exam fees that you pay depends on whether you are a PMI member or not (see chart below).
Before you register for the exam, you should register yourself as a PMI member. Anyone can become a a PMI member, which means there are no pre-qualification criteria.
When you are a member, you will get $20 off the exam and you will also get a free soft copy of the PMBOK guide. Additionally, you will get access to PMI’s network and get to join events for free or at a discount.
Here is the cost of PMP certification exam fee breakdown for members vs non-members:
The PMI membership renews yearly. The benefits of continuing with the membership decreases after the first year, and many professionals choose not to continue.
One of the criteria to write the PMP exam is to have 35 contact hours (or project management education). The cost of contact hours ranges from $200 to $5000.
Why is the range so large?
Because different aspirants choose different methods to learn the material to get certified.
If you take an online project management course, it will be cheaper than an in-person training course, and in-person training courses are cheaper than private tutoring.
All of these methods – online training, virtual training, in-person training, and private tutoring – will give you the 35 contact hours that you need to qualify to write the exam.
The method that you choose will depend upon your learning style, budget and schedule.
Some employers will pay up to a certain amount for you to get certified. It is best to speak to your manager about your goals.
Once you are PMP certified, you need to renew your certification every 3 years. Currently, PMI charges PMP holders $129 every cycle (each cycle is 3 years) to renew their certifications.
Some companies will cover this professional fee for you. If your certification is coming up for renewal, it is best to speak with your manager or your HR department.
To renew your certification, you need to demonstrate that you have continuously worked in and educated yourself in project management.
Like the PMP exam contact hours, the continual PDUs vary greatly in cost from $0 to $5,000.
It is possible to get free PDUs from reading a project management book or attending a free seminar or simply doing your day-to-day job.
You can also get PDUs from attending an expensive project management conference that costs thousands of dollars.