What will the PMP certification cost you? The Project Management Institute (PMI) was the first organization that offers project management credentials to project managers. This certification is a global standard and developed by practitioners who represent their diverse global audience. The PMP certification may cost you, but it can give you a technical and financial edge among others.
Your decision to earn a PMP certification is a big one so you have to choose one that fits your expertise and future career plans. While you can apply for any certification that matches your qualifications, no certifications serves as a prerequisite for another so you may take as many certifications as you like. The PMP certifications you can take include Certified Associate in Project Management (CAPM), Project Management Professional (PMP), Program Management Professional (PgMP), PMI Agile Certified Practitioner (PMI-ACP), PMI Risk Management Professional (PMI-RMP), and PMI Scheduling Professional (PMI-SP).
What will the PMP certification cost you? It will cost you time and effort, as you need to study the five key processes involved in project management that include the initiation stage, planning, executing and controlling, closing, and the professional and social responsibility. The initiation stage includes all the footwork through the planning phase, which accounts for 11 percent of the questions. Planning includes the planning and staffing phases, which accounts for 23 percent of the exam. The executing and controlling processes cover the beginning of work throughout its entirety and this takes the largest portion of the exam. The fifth phase, closing the project, takes the 9 percent of the scored questions. The last section, which is the professional and social responsibility, takes 9 percent of the exam as well.
What will the PMP certification cost you? The computer-based exam will cost you around $405 and $555, while the paper version, which will eventually be phased out, is between $250 and $400 with PMI members paying a lower fee. You may receive a refund less $100 processing fee if you are not able to take the exam. Potential employers can also check your certification standing with PMI’s online database. The PMI certification cost is really worth it, especially if you will take into accounts all of its benefits.