If you pursue Pmp Certification, you’ll have a great career ahead of you! However, becoming a PMP is more than just passing a test. You’ll require real-world project management education and experience to demonstrate your readiness for the PMP exam. According to PMI, by 2027, enterprises will need around 88 million project-related employees. As a result, project managers are in high demand all around the world. Here’s a quick review of PMP certification cost and the requirements you may expect to spend so you’re ready to apply for certification.

What is PMP Certification?

The PMP (Project Management Professional) certification is the world’s most prominent project management qualification. Predictive, agile, and hybrid approaches are now included in the PMP, demonstrating project leadership experience and expertise in any mode of operation. Although a PMP certification is not required to work as a project manager in most professions, it represents an individual’s technical skill, instills trust in prospective clients and employers, and is occasionally used to justify higher compensation or promotion. 

According to the most current PMI wage survey, the median PMP-certified project manager would make $110,000 per year, or 20% more than their non-certified peers. Furthermore, the PMP Certification helps Project Managers advance their careers across industries and assists organizations in discovering the talent they need to work smarter and perform better.

What Are the Prerequisites for Taking the PMP Exam?

To be eligible for the PMP certification exam, you must meet certain educational and professional requirements.

Option 1:

• A four-year degree along with 35 Hours of Project Management training or CAPM certification
• 36 months of experience leading projects

Option 2:

• A high school diploma or an associate’s degree (or global equivalent)
• An additional 35 hours of Project Management training or CAPM certification
• 60 months of experience leading projects

PMP Certification Cost

The Project Management Institute (PMI) offers two PMP exam fee options. The PMP Certification exam fee is 555 USD for those not PMI members and 405 USD for those who are. As a result, if you choose to become a PMI member at the time of your application, you will be required to pay 555 USD for both the exam and membership fees.

As a result, whether you choose membership or not, the total amount remains unchanged. However, choosing membership grants free one-year access to PMI resources, including the PMBOK Guide. As a result, we recommend selecting PMI membership during your PMP application.

Following is the reexamination fee structure of the PMP certification:

• For PMI members: $275
• For non-PMI members: $375

PMP Certification Training Cost

PMP Certification is a highly valuable accreditation for anyone working in project management. Professionally qualified project managers are in high demand as the project management industry expands. So, how much does training for the PMP certification cost? Unfortunately, this question does not have a single answer. The PMP certification instructor-led online training will depend on which country you are located to take this project management education. The PMP Certification training cost is around 1000 USD to 1500 USD. 

What Are the Renewal Fees for the PMP Certification?

Are you puzzled by the PMP reexamination fee structure? After PMI confirms that a person has satisfied the PDU requirements, they will be notified electronically to apply for PMP fee renewal.

When the concerned individual receives the notification, PMI instructs them to pay the PMP certification renewal fee using the online certification system.

PMI Membership Status CCR Renewal Fee: 

For PMI members – $60

For non-PMI members – $150

The membership renewal charge for PMI differs from the certification renewal fee. After satisfying the PDU requirements, a candidate can finish the renewal procedure at any point throughout their cycle by submitting payment no later than 90 days after the cycle concludes.

After processing the completed application and renewal payment, PMI will send the candidate an updated certificate with the new active certification/CCR cycle dates. The mail delivery of the document usually takes six to eight weeks.

PMI certification holders must agree to the terms of usage, which include adhering to the audit needs. In case of an audit, the applicant will be permitted to renew their certification only after completing the audit and complying with all terms and restrictions.

Process

The PMI will randomly pick a group of PMI certification holders for the audit procedure. During 

this period, a candidate must provide supporting documentation to verify any PDUs. As a result, a candidate must preserve all PDU claim documentation for at least 18 months following the end of the CCR cycle.

Certificate Cancellation

A candidate has the option to terminate their certification at any time. To do so, the candidate must write to Customer Care at [email protected].

PMI will refund one-third of the renewal money upon receipt of the application form for each full year of the renewed certification/CCR cycle that the candidate has not used following the date of the written cancellation request. If candidates cannot complete the certification renewal procedure due to extenuating circumstances, they may contact Customer Care. All claims will be reviewed and settled on an individual basis by PMI.

Additional Costs for PMP Certification You Should Consider

Aside from the PMP training fees, a few extra expenditures are associated with the certification process.

Because of the current pandemic scenario, the PMI and Pearson-VUE (Pearson VUE delivers high-stakes exams) have resumed the rescheduling and cancellation fees previously assessed on candidates, effective May 15, 2021. The following are two key changes that will occur:

1. Candidates who exhibit COVID-19 symptoms, have direct exposure, are quarantined, or have positive test results will not be assessed a rescheduling or cancellation fee, including Pearson-VUE-related cancellations and rescheduling
2. There will be no charges for rescheduling or canceling the exam if the candidate cancels or reschedules it before the scheduled exam date

Conclusion

Some people may consider PMP certification costly, time-consuming, and challenging. However, many hiring managers consider PMP certification a valuable credential that adds credibility to your resume. Furthermore, it assists you in developing vital abilities for success in your work. So, do you want to earn your PMP certification? Then, train with the greatest in the business. The PMP certification can aid you in landing lucrative jobs in information technology, manufacturing, finance, healthcare, and other intriguing fields.

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