cost of pmp certification test
Understanding the Expenses of PMP Certification
cost of pmp certification test
The cost of the Project Management Professional (PMP) certification test varies depending on several factors, including whether you are a member of the Project Management Institute (PMI) and your geographical location. As of my last update, the exam fee for PMI members is typically around $405, while non-members may pay approximately $555. Additionally, there may be extra costs for study materials, preparation courses, and renewing the certification, which is required every three years. It's important to check the PMI website for the most current pricing and any potential changes to the fee structure.
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1 - Exam Fee: The cost of the PMP exam itself can range from $405 to $555, based on whether the candidate is a member of the Project Management Institute (PMI) or not.
2) Training Course Fees: Students may need to enroll in a PMP training course, which can range from $1,000 to $3,000 depending on the provider and format (in person or online).
3) PMI Membership Fee: Joining PMI as a member requires a fee of approximately $129 per year, plus a one time application fee of $10. Membership provides a discount on the exam fee.
4) Study Materials: Candidates may need to invest in additional study materials (e.g., books, e courses, practice exams), which can range from $50 to $300.
5) Practice Exams: Many training programs offer or recommend purchasing practice exams to prepare for the PMP test, costing between $50 and $200.
6) Retake Fees: If candidates do not pass on their first attempt, they will need to pay retake fees, which are typically $275 for PMI members and $375 for non members.
7) Travel and Accommodation: If attending in person training or the exam location is far, students may incur additional costs for travel and accommodation.
8) Study Group Costs: Some students may choose to join or create study groups, which may require additional expenses for meeting spaces or materials.
9) Certification Renewal Costs: The PMP certification must be renewed every three years for a fee of $60 for PMI members and $150 for non members, which should be part of the cost consideration.
10) Time Investment: The time needed to prepare for the exam can lead to lost wages for working students who need to take time off or reduce hours to study.
11) Discounts and Scholarships: Some training programs and PMI chapters offer discounts or scholarships, potentially reducing total costs for eligible students.
12) Employer Sponsorship: Students may consider employer sponsorship for the training and exam fees, which can significantly offset costs.
13) Online Training vs In Person: The format of training can impact costs; online courses might be less expensive than in person training.
14) Quality and Reputation of Training Providers: Selecting a reputable training provider may come at a premium but can lead to a higher pass rate and better preparation.
15) Additional Networking Events: Participating in networking events or workshops related to PMP may also incur additional costs but can provide valuable insights and connections.
By considering these points, students looking into PMP certification should have a comprehensive understanding of the various costs associated with the PMP certification exam and related training programs.
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