If you work in project management, you may have at some point been curious about the PMP certification. You’ve made the right decision if you’ve set your sights on earning the PMP certification, and you have a promising future ahead of you. However, earning a PMP certification is more difficult than the three-letter acronym suggests. Real-world project management training and experience are necessary requirements for PMP certification.
Let’s first learn everything there is to know about PMP before finding out how much the training, and certification costs. We outlined the procedure and cost of PMP certification in this article.
What Is Pmp Certification?
Project managers all over the world value having the PMP certification, which stands for Project Management Professional. Having the PMP certification will help project managers keep a competitive edge in both business and project management. The Project Management Institute (PMI) awards candidates with PMP certification after passing all requirements and exams.
PMP stands for project management professional, and it denotes the documented experience, education, skill, and competency needed to lead and carry out projects. The Project Management Institute (PMI), USA, offers this certification as one of its most esteemed or Gold Standard designations. The PMP certification validates your project management skills and rewards your prior effort. This certification has a three-year expiration date.
What Are Pmp Certification Requirements?
The PMP credential is unquestionably the most sought-after project manager certification available today. Furthermore, many jobs around the world now require PMP certification as a prerequisite. The PMP certification, provided by PMI, attests to your capacity and expertise in project management. Project managers with the Project Management Professional (PMP)® certification belong to a select group. It demonstrates experience and proficiency in project leadership in all modes of operation. A project manager must satisfy several requirements, training, and pass a 180-question exam to get the PMP certification.
Since the PMP exam was developed by project leaders for other project leaders, every exam question can be connected to actual project management situations.
Ensure that you satisfy one of the following sets of requirements for PMP Certification before applying:
#1. Four-Year Degree: An Individual With a Four-Year Degree Must Have
- 36 months of project-leading experience over the previous 8 years
- 35 hours of project management instruction or certification with the CAPM®
#2. High School Diploma or Associates Degree
- 60 months of project-leading experience over the previous eight years
- 35 hours of project management instruction or certification with the CAPM®
It demonstrates your knowledge of the most recent project management concepts, strategies, and techniques. Your level of education or experience will determine how long it takes you to prepare for the exam. To earn a PMP certification, you must have completed project management training for a set amount of time. You can use either the offline or online modes. Consider getting your Certified Associate in Project Management (CAPM) certification as well.
What Is Pmp Certification Training?
Work experience, education, and passing an exam are the requirements for PMP certification. You may advance professionally with this position. The PMP certification distinguishes you from other professionals in your field and is a widely respected credential. You will learn about well-liked project management techniques like Agile and waterfall scheduling during the PMP certification training process, in addition to other industry best practices.
Regardless of your educational background, you must complete 35 “contact hours” of formal project management training before you can sit for the PMP exam. You have the option of completing your contact hours in person or online. The cost will vary depending on how you complete your contact hours, but, in general, online PMP training programs are a less expensive choice. You don’t need to complete contact hours to become a PMP if you hold the CAPM credential.
Application Processing Time
When you’re prepared to take the PMP exam, you must apply to PMI. You can register for the PMP exam once your application has been accepted. A response from PMI regarding the status of your application usually comes within three to five days.
Study time
Even if you have the training and work experience required to take the PMP exam, you might still need to put in a little extra time studying to be sure you can pass. How much time you spend studying for the PMP test is entirely up to you, but it’s crucial to get ready before taking it because there is a fee for each attempt.
#1. Ensure You Are Qualified
Make sure you pass all the requirements, and you qualify to take the pmp certification exams and
#2. Download and Read the PMP® Handbook
The PMP® Handbook will address all of your inquiries about PMP® eligibility, the application procedure, costs, the exam, and renewal.
#3. Join PMI
Although membership is not required, it is well worth the US$139 to sign up. As a member, you can register for the PMP® exam for $150 less and get free access to the PMI Standards’ electronic versions.
#4. Prepare for the PMP® Exam
You have the option of using the offline method or the online mode to study for the PMP certification exams.
#5. Complete Your Application
Once you begin the application, you will have 90 days to finish it.
#6. Submit Your Application and Payment
In five business days, PMI will evaluate your online application. At this point, you might be chosen for an audit. If you are chosen, you will have 90 days to submit all necessary paperwork for the audit. Members must pay $405 for the PMP® application fee, while non-members must pay $555.
#7. Schedule and Take Your PMP® Exam
Following the approval of your application, you will have a year to take the PMP® Exam with multiple choices. Within this 12-month window, you may sit for the exam up to three times.
#8. Maintain Your Pmp Certification
Every three years, you must renew your PMP® certification. You must track and accumulate 60 PDUs, submit your renewal application and fee, and do this to qualify.
PMP Certification Cost
The price of the 35 hours of specific PMP certification classes you require will be greatly influenced by your choice of location and course format. PMP training can cost between $300 and over $3,000. Although this isn’t always the case, online PMP certification courses are frequently less expensive than alternatives offered in person.
How Much Does the PMP Certification Exam Cost?
The first time you take the PMP exam, it will cost you $555 if you are not a member of PMI. Members of PMI, however, pay $405. The nonmember rate will still apply even if you decide to join PMI after registering for the exam.
You have the option to retake the exam if you don’t pass it the first time. You will have more time to study and be somewhat familiar with the structure and subject matter of the exam. Retaking the PMP exam costs $375 for non-members and $275 for PMI members. The Project Management Institute will give you a year to take the PMP exam after approving your application. Three attempts are permitted in a calendar year.
When applying to become a PMP, a person who decides to join PMI will pay $555, which will cover both the exam and membership fees. This is why we advise you to sign up for a PMI membership so that it will be easier for you to pay for your PMP course.
How Much Are PMP Renewal Fees?
You’ll be in charge of maintaining your skills and knowledge after passing the PMP exam. To aid you in doing this, the Project Management Institute encourages a program for ongoing certification requirements.
You must obtain 60 professional development units over three years to maintain your certification. These can be obtained by enrolling in classes, many of which are offered online, in subjects like project management, business management, and leadership. A three-year gap separates each iteration of this cycle. Keeping your certification current will prevent it from being suspended for a year.
You must renew your PMP certification by the anniversary date of your initial exam in the third year of the renewal cycle. You must pay a $60 renewal fee if you are currently a PMI member. For non-members, the renewal fee for the PMP is $150.
PMP Certification Salary
Salary data for PMP certification holders demonstrate that the certification is highly valuable to many professionals. The median annual salary for non-certified project managers in the United States is $93,000, according to PMI. While the median annual salary for PMPs is $123,000, which is a 32% increase over that of their non-certified counterparts.
What Does Pmp Certification Do?
#1. Earning Potential
Professionals with the PMP Certification make 32% more money than those without, according to the Project Management Salary Survey.
#2. Reputability
Your project management expertise and professional experience are impartially endorsed by the PMP certification on a global scale. This greatly improves your reputation and credibility and attests to your competence in managing high-quality projects.
#3. Competitive Edge
Whether your business gets the next job or launches a new product often depends on your ability to complete projects on time and within budget. By implementing project management procedures throughout your company, you can build a strategic value chain that will give you an edge over rivals.
#4. Increased Staff Productivity
You can apply standard project management techniques more effectively if your organization has a skilled and qualified workforce. This will not only assist you in completing projects successfully, but it will also promote the expansion of your company.
Is the PMP Exam Hard?
Most professionals find the PMP exam difficult because it covers such a wide range of topics that adhere to the PMBOK-based syllabus. Therefore, picking a reputable training facility is crucial. Given how difficult the PMP exam is, it will be best if a candidate reads a few books on the subject.
What is the Use of PMP Certification?
Your career gains value from the PMP. Because it offers tangible proof that a candidate has the qualifications that employers seek, the CIO magazine ranked this course as the best project management certification.
Is PMP Equivalent to Master?
A PMP is not the same as a Master’s degree and vice versa. You should pursue PMP certification from a PMI-approved training provider if your objective is to advance your project management career or receive a pay raise. A master’s degree in project management cannot compete with a PMP. A PMP signifies a level of theoretical knowledge that has been objectively assessed as being equivalent to at least 7,500 hours of practical experience managing and leading projects.
Can You Get a Pmp Without a Degree?
It is possible. You need 60 months of experience if you don’t have a degree. The next step, if you already have this work experience or are working toward it, is to finish at least 35 hours of formal PMP training, also known as “contact hours,” or to have a valid CAPM certification.
What Is the Pmp Mark to Pass?
For the PMP exam, there is no set passing score. The Project Management Institute keeps its information private. PMI tests maintain the confidentiality of the PMP exam passing score. You receive one point for each question that you correctly answer. To determine whether you passed the test, the scores are added up, and your final score is taken into account.
Who Is Eligible for Pmp Certification?
A four-year bachelor’s degree, a high school diploma, three years of experience in project management, 35 hours of formal education or training in project management, or CAPM certification are all requirements. Graduates must accrue 4500 hours in project management and leadership, whereas diploma holders must accrue 7500 hours.
Conclusion
It is without a doubt advantageous to hold the PMP certification. A qualified PMP could anticipate a 20% pay increase, according to PMI data. Other project managers concur that this accreditation offers a sizable return on investment. If you’re in the project management industry and want to advance your career, getting a PMP certification is a great choice. You’ll learn about some of the most common project management techniques used today, including waterfall and Agile, by pursuing the PMP certification. You will learn the abilities you need to strengthen your portfolio while taking courses in business management and leadership.
What Is PMP Certification FAQs
What is PMP Certification?
The PMP certification validates your project management skills and rewards your prior effort. PMP stands for project management professional, and it denotes the documented experience, education, skill, and competency needed to lead and carry out projects.
Is the PMP Exam Hard?
Most professionals find the PMP exam difficult because it covers such a wide range of topics that adhere to the PMBOK-based syllabus. Therefore, it will be best if a candidate reads a few books on the subject.
What are the Benefits of PMP Certification?
- High Earning Potential
- Increased Staff Productivity
- Competitive Edge
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