Getting your PMP Certification can get a bit expensive, based on how you choose to go about your preparation. You need to pay for the PMP exam, the PMP Exam Preparation courses and study guides. Given below is a set of possible expenses that you may incur on your way to your PMP certification:
1.PMP Certification Exam Fees:
The cost structure for PMP exam varies based on the PMI membership status and the examination delivery type. Becoming a PMI Member is not a requirement for the PMP examination, yet there are some benefits while applying for PMP exam such as a minor difference in the exam fee, access to up to date publications, about latest trends in project management and also download a free copy of the PMBoK® Guide Fifth Edition, which is a must-read for the PMP examination. In case you do not clear the PMP exam in your first try, you are allowed to take two more attempts in a one-year time frame. Remember, each exam retake would cost you an additional fee. The table below shows the fee structure of the PMP exam as given by PMI:
2. Cost of any training you may want to undergo:
Many people opt for a training program - Online or Classroom based. It helps them to earn their 35 contact hours necessary to meet the eligibility criterion in addition to giving their preparation a boost. The choice between a classroom training versus an online training is a call you have to take based on what you are more comfortable with. For obvious reasons, Online training is cheaper (costing anywhere between USD 50 to USD 200 for self-paced courses and between USD 250 to USD 2000 for Instructor-led online courses) compared to a Classroom option (that costs anywhere between USD 250 to USD 4000 based on the geography and the training provider).
3. Cost Structure for PMP Exam Preparation:
As you prepare for the exam, you may need to refer to many resources to get ready for the big day. The PMBoK (Project Management Body of Knowledge) is an essential part of your preparation because it is prescribed by PMI and hence most of the questions would be based on the application of what is covered in the book. It costs around $70 for a hard copy and for PMI members is available for free as a soft copy (you can download it from the PMI website after you become a member of PMI). There are many other organizations that have published study guides for PMP exam preparation. Some of the popular books include Rita Mulcahy’s ”PMP Exam Prep”, Crosswind’s “PMP Exam Success Series: Bootcamp Manual”, O’REILLY’s “Head First PMP”. Typically these books cover the PMBoK theory, practice questions, tips to prepare for the exam. You can get these books for anywhere between $50 to $100. You may choose a study guide based on your comfort with the writing style, contents, and reviews from other readers. In all, the cost of getting your PMP certification could be between $600 to $6000 based on your choices for the three sections above.