For a candidate who is desirous of applying for the PMP certification, one of their most important concerns is the amount of financial commitment they need to make towards attaining the certification. This is a relevant question but we must expand the scope of the question to not only include the monetary ramifications of the decision but also in terms of its impact on other parameters of a candidate’s life be it in terms of the time or the effort an individual must be willing to put in order to qualify for the certification.
The financial commitment is answered easily as there are two separate exam fees based upon the status of the membership of the candidate with PMI or the Project Management Institute which conducts the certification process.
For a candidate who is a member of the local PMI chapter in their location the fees amount to $405 in total.
While for a candidate who is not a member of PMI there is a steeper price to pay amounting to $555 in total.
The detailed fee structure and expenses for PMP Certification:
The PMI membership fee is $129 per year in addition to a $10 for new or expired members. PMI also grants a one-year time period for up to a total of 3 attempts where the candidate is eligible to give the exam thus the fees for the second and third re-examination are $275 for a member of PMI whereas it is $375 for a non-member. The candidate can also ask for a refund before 30 days from the date of purchase provided they have not attempted the exam. The renewal fees for the certification are $60 for members and $150 for non-member candidates.
Now, we come to examine the time they must devote in order to qualify for the exam, this is also divided into two portions. The first section is the time requirements for the candidate to be eligible to be able to give the exam while the second section is the time needed to be prepared enough that they can confidently crack the exam. While the former is clearly defined by PMI the latter depends in the individual capabilities of the person and varies widely, this is where a realistic assessment of the individual’s ability is needed so that they can know how they currently stack up to the desired standards and the path that they must take in order to improve their chances. This is where guidance is really helpful in streamlining the test preparation process in order to get the best result with the least number of resources. Finally, an individual must be willing to put a significant amount of effort and hard work in order to be successful in gaining their certification.
The candidates who fail in their maiden attempt have the option to reapply for the certification two more times before the end of the year. If they fail to do so they must wait for a time period of one year from their last attempt to begin their next attempt. This also has ramifications of the emotional costs attached to the certification hence it is always advised that the candidate err on the side of caution and be better prepared than to focus on efficiency as failure will cause the costs to add up with each iteration and be costlier in the long run.
PMP certification exam is a rigorous process that separates the leading industry professional from the average performers and improves the career graph of the professional, thus is a must have for any person wishing to scale new heights in their profession.
PMP certification costs $405 for PMI members and $555 for non-members. PMI membership fees amount to $129 per year plus an additional $10 for new or expired members.
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