PMP Certification Cost and Exam Prep

PMP certification cost for the project management professional credentials can be substantial.

But PMP exam prep cost may be reduced in some areas. This is not an easy test with even experienced project managers, without exam training, struggling to pass.

We have all heard the phrase “you have to spend money to make money”. That is true when it comes to career training and is especially true when looking at PMP certification cost. Although it is not cheap, the fact remains that any money invested short-term toward career advancement will have long-term payoff in terms of actual income.

What Is PMI PMP Certification

The Project Management Institute* administers this professional certification that is recognized in many countries around the world. While there are many ways to prepare for the exam the actual test will have to be taken under their supervision. There are many ways to learn and stay on top of this career with regional meetings and seminars.

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The PMP certification exam is updated periodically so be sure you are receiving information and training from sources that are staying current with the PMI exam requirements as well as what the exam will cover. You also need to protect yourself by staying informed after you have been certified. To maintain a certification the PMI® Project Management Institute requires the manager to earn a number of PDU’s or Professional Development Units each year.

The Project Management Professional (PMP)® Certification is becoming more and more important for professional project managers to have in their arsenal to use as another tool for growing their careers. It serves to demonstrate that in addition to experience the individual understands the basic concepts of project management and are able to apply them in the real world working environment.

Many working professionals find themselves in a quandary when it comes to deciding if PMP certification is necessary for them to have, especially if they have previously or are currently performing the functions of a Project Manager in their career. Research indicates that a growing number of firms are requiring managers whether new to the industry, mid-career, or seasoned veterans to take the PMP certification exam. The credentials are important especially for firms to present themselves as capable professionals in the field where an engagement and time lines are driven by successful project management. According to a recent survey by PricewaterhoseCoopers, 80% of high visibility projects use a credentialed project manager.

PMP Exam

PMP Exam Prep Cost

The exam itself is a 4 hour, 200 question marathon, thus requires a degree of stamina and preparation beforehand. The PMP certification cost administered by certified education and training facilities range from $555.00 (exam fee) to $3,150 depending on the amount of pre-prep training required which is a minimum of 37.5 hours. The most popular options for training is computer based training (CBT), or classroom, or sometimes a combination of both. Training that benchmarks a student’s retention of knowledge through chapter tests, final exam and actual test simulations are invaluable and help to position the student for a passing grade.

The process and PMP certification cost don’t necessarily come to an end when a person becomes certified. It is an on-going process, not dis-similar to insurance or securities licensing and certification. To maintain certification in good standing a manager is required to complete 60 hours of the Project Management Institute’s PDU’s within three years. In the event a person does not stay current they will need to re-apply and be deemed eligible to take the exam, pay the examination fee, and pass the test once again to be re-certified. [For more on what project management includes check out this site: Project Mgt ]

The bottom line is that to avoid additional PMP certification cost and frustration and to avoid having to take the PMP certification exam additional times, STAY CURRENT. Not only is the expense of taking this test in dollars but also in the time away from productive and hopefully profitable work. Having the certification is very valuable – but being away from your job and current projects to get re-certified put hardships on many others as well as the projects themselves.

A PMP certificate is recognized around the world and is widely considered one of the best professional certifications of any industry. The Project Management Institute has held a high standard and managers with this credential is highly respected and can expect a much improved status when applying for a position. It can be said with certainty that the PMP certificate holder has made one of the best investments there is in forwarding a career. The return on investment is comparable to many professions that require 6 plus years of university education.

* Project Management Professional (PMP)® Certification, PMP® and PMI® are registered trademarks of the Project Management Institute.