April 4, 2020

PMP Certification Costs

Project management professional is known to be one of the most essential certification which has been recognized by the industry for project managers. This certification has been recognized on an international basis and is well much in demand all over the world as it covers all the six stages of a particular project. In case a professional has a PMP certification, it is considered that he has accurate education, information, experience and competence to lead different projects and lead them to their execution and later completion or accomplishment of the project. This certification is being considered to be key to get a better salary in the IT industry as it adds a credential to the qualification to a potential and competent project manager.

The PMP certification is a right opportunity for those who have practical experience of project management and want to look forward to solidify the skill set of a seasoned project manager. This certification makes you stand out in front of your present employers and even to prospect employers who have eluded you in the past and can also make your earning potential increase by leaps and bounds. Citing its significance in commissioning practically all projects, a large number of people are now opting for this certification.

The costs for attaining PMP certification have been categorized into the following costs:

  • Contact hours- Generally, the applicants for PMP certification need to pay different amounts. The first cost that the applicants need to pay is the cost of 35 course works that need to be covered by the applicants. Also known as the contact hours, these course works are mandatory for all the applicants. Every institution imparting the contact hours has its own fees for this training. While some of the institutes provide this training for free, others charge exorbitant amounts for the same. Additionally, a lot of institutes do not even reveal the money that you need to pay for the coursework. To find exact costs for these contact hours, each applicant needs to connect with the institutions personally before getting the course so that they are able to find out what it is exactly that they need to pay for these contact hours.
  • PMP certification exams cost- The PMP certification exam cost also varies for different candidates. The applicants who are members of the Project Management Institute need to pay much less fees as compared to the applicants who are not the members of the PMI.
  • PDUs- When the applicants have already attained project management certification, they need to maintain its credential by obtaining the professional development units or the PDUs. In a general scenario, each PMP professional needs to earn at least 60 PDUs after every three years. The cost of these PDUs also varies according to the institutes. Some institutes charge thousands of dollars while others do not charge even a single penny for this.

PMP certification is an expensive certification when you calculate the maximum costs associated with each part of this certification. However, when you compare the long term benefits in terms of promotions and salary hikes with the price, you would feel that you have nothing to lose.