PMP Certification Cost and Price Breakup Explained

Those working in IT may have considered the PMP certification, the cost of the PMP test, and where to get started. It is clear that if you have decided to pursue PMP certification, you have made a wise decision and have a bright career ahead of you. Obtaining PMP certification, however, is more challenging than the three-letter word implies. The credential requires education and real-world project management experience.

A fulfilling career in project management is possible. As a project manager, you are in charge of planning and organizing critical initiatives for your company. Even more critical, you ensure that everything is on track for a successful and on-time conclusion.

If you want to go deeper and learn more about project management, you should consider becoming a Project Management Professional (PMP)®.

The Project Management Institute provides this significant and internationally recognized qualification (PMI). The PMP certification gives project managers the tools they need to stay ahead of the curve in business and project management. This essay will go through the PMP certification procedure and costs.

Before we delve into the certification cost, let's define PMP.

What exactly is PMP?

Among project managers, PMP stands for Project Management Professional. A project management professional (PMP) certification is awarded by the Project Management Institute (PMI).

The Project Management Professional (PMP) designation signifies the demonstrated experience, education, skill, and competency necessary to lead and execute projects. It is one of the Project Management Institute's (PMI) USA's most distinguished or Gold Standard certifications.

The PMP title denotes the validated training, qualifications, know-how, and competence required to supervise and manage projects. The Project Management Institute (PMI) offers this certification as one of its most prestigious or Gold Standard qualifications.

The PMP certificate validates your project management abilities and recognizes the amount of work you've already put in, much as the CPA degree validates your accounting ability. This certification has a three-year expiration date. According to PMI, there were 300 chartered chapters and about 932,720 active PMP-certified persons globally as of August 2019.

PMI, a non-profit organization, was founded in 1969. Its members benefit from training, networking, stringent project management standards, and the availability of a common discussion forum. The PMBOK, PMI's project management standard, was first published in 1996 and is now in its sixth version.

It is critical to understand that the PMBOK handbook is revised every 4-5 years. A team of highly trained specialists carries out the procedure in addition to ANSI members. In 1984, PMI issued its first member certificate in Philadelphia, Pennsylvania, USA. Since then, the number of PMPs has steadily increased.

Among all certifications available in the world, the PMP certification is, without a doubt, the most in demand. The PMI Institute's qualifications, standards, and recommendations have helped about 3 million professionals on various continents. Furthermore, acquiring a PMP certification is an asset for many professions worldwide.

After completing the Continuing Certification Requirements (CCR) program, professionals can keep their PMP certification.

Let's discuss how much the PMP certification costs.

What is the cost of Project Management Certification?

The cost of PMP certification is determined by the training institution, style of instruction, and country in which the candidate desires to train. The Project Management Professionals (PMP) course exposes participants to best practices in project leadership, management, and direction. The PMI (Project Management Institute) credential is globally recognized. However, the overall PMP certification cost includes several factors, including the nation of the course, the institution giving the course, and many more.

• The cost of obtaining 35 PDUs with PMP certification varies by nation, ranging from INR 22,763 to INR 3,79,397.

• PMP exam fees for computer-based testing (CBT) are INR 30,731 for PMI members and INR 42,113 for non-PMI members.

• Re-examination Fee Schedule: PMI members pay INR 20,866, while non-PMI members pay INR 28,454.

• To become a PMI member, applicants must pay a PMP cost of INR 42,113, which covers both the test and membership expenses.

• Even if a person does not want to join PMI, they must pay the same PMP test price.

• Hence, we encourage you to join PMI to pay for your PMP course.

Cost of training and preparation

• According to PMI, a candidate must complete 35 hours of training to achieve PMP certification.

• As a result, the PMP training cost is the first component of the PMP cost.

• PMP training costs vary depending on whether applicants choose online or classroom programs. Their country of residence also has a role.

• Classroom Training and Preparation PMP certification costs in India range from INR 15,000 to INR 40,000, online training costs INR 10,000 to INR 40,000, and self-paced programs cost INR 5,000 to INR 15,000.

PMP Certification Re-examination Fee

• If your application is approved, you will only have three opportunities to pass the exam.

• If you do not pass the examination the first time, you may repeat it. For each re-examination attempt, you must pay a charge.

• Re-examination fees for PMI members are INR 15,929 and INR 28,961 for non-PMI members.

Fee for PMP Certification Renewal

• The PMP credential must be renewed every three years.

• A formal process for renewing the certificate involves paying the PMP renewal cost of INR 3,475 for members and INR 11,585 for non-members.

Advantages of PMP Certification

A Project Manager Professional (PMP) is a project manager who has acquired the Project Management Institute's industry-recognized qualification. There are various advantages to taking the PMP certification test; here are a few of the most compelling.

• Increase your professional alternatives

• Will be recognized as a skilled professional

• Fluent in the relevant language

• Learn new skills

• Increase your earnings

• Demonstrate your dedication

What value does PMP certification provide?

The PMP enhances your career. This course was named the highest project management certification by CIO magazine because it provides tangible evidence that the candidate possesses the necessary skills and experience that companies want.

According to PMI's most recent Project Management Salary Survey, PMP holders earn 25% more than non-certified project management professionals in the United States.

Conclusion

If you work in project management and want to advance your career, PMP certification is an excellent alternative. You will acquire exposure to some of today's most popular project management approaches, such as waterfall and Agile, by becoming a PMP. You'll study business management and leadership classes and develop the skills needed to expand your portfolio.