PMP Exam Price: How to plan for overall PMP Certification Exam Cost

Many aspiring Project Management Professionals (PMPs) often focus primarily on the stated PMP Exam Price when planning their certification journey. However, becoming PMP certified involves a range of expenses beyond just the exam fee itself. To truly budget effectively, it’s crucial to consider the overall PMP certification cost, encompassing everything from study materials and training courses to practice tests and exam day logistics.

Let’s break down the typical PMP certification process into phases, much like a project manager would approach a project, to understand all the potential costs involved and help you plan your budget.

This initial phase involves understanding the PMP exam structure, gathering information about the process, checking your eligibility criteria, and kicking off your preparation.

• Cost Estimate: Realistically, there are no direct costs incurred during this phase. All necessary information is readily available on the internet and social media.

In this phase, you’ll create your study plan and arrange for the necessary resources for your certification journey.

• PMI Membership Fee:
  • Cost: $129 US dollars, plus a $10 service charge. Total $139
  • Benefit: This membership is highly recommended as it provides access to various library resources, white papers, and crucially, digital copies of the PMBOK® Guide (6th and 7th editions), Agile Practice Guide, and Process Group Practice Guide for free. This can significantly reduce other material costs.
• Textbooks:
  • You might choose to purchase a dedicated PMP exam prep textbook.
  • Option 1: Rita Mulcahy’s PMP Exam Prep (Tenth Edition) costs approximately $75 to $85 USD.
  • Option 2: Andrew Ramdayal’s PMP Exam Prep Simplified textbook is around $60 to $70 USD.
  • Tip: You typically won’t need more than one of these resources during the planning stage.

This phase involves two critical activities: booking your PMP exam date and registering for a 35 Professional Development Unit (PDU) course, which is a key eligibility requirement.

• PMP Exam Price (Exam Fee):
  • With PMI Membership: The cost to book the exam is $699 US dollars.
  • Without PMI Membership: The cost of the exam is $799 US dollars.
  • Recommendation: As you can see, PMI membership saves you $100 on the PMP Exam Price alone, making the $139 membership fee a wise investment so that you do not end up paying for PMI Standards and reference books later. It’s recommended to avail the PMI membership for at least one year to cover your exam attempts.
• 35 PDU Online/Instructor-Led Course:
  • The costs for this vary widely, offering a broad spectrum of choices.
  • Cost-Effective (Self-Learning Courses):
    • Courses available on platforms like Udemy typically cost between $20 to $25 US dollars. You can check-out my own 35 PDU PMP Exam Training Course on Udemy here (https://bit.ly/RAYPMP35PDU)
    • These are pre-recorded and require rigorous self-discipline and accountability. Udemy usually offers Q&A forums to clarify doubts.
    • Tip: Always check public reviews of any course you consider; reviews on platforms like Udemy are often verified and provide accurate feedback.
  • Mid-Range (Instructor-Led Courses):
    • Some PMP authorized training providers offer a mix of live and recorded sessions, sometimes including live doubt-clearing.
    • These typically range from $300 to $600 US dollars.
  • High-End (100% Live Instructor-Led Courses):
    • Organizations like Simplilearn, Knowledgehut, Edureka, or EduHubSpot offer virtual live instructor-led courses.
    • These can range from $700 to $1000 US dollars.
    • This option might be more suitable if your company is sponsoring your PMP certification program due to the significant financial and time commitment.

This crucial phase is all about monitoring your preparation and practicing with PMP-style questions through mock simulators and practice tests.

• Practice Tests/Mock Simulators:
  • If you enroll in high-value instructor-led courses, they often include ample practice questions.
  • However, if you opt for a Udemy PDU course, you’ll definitely need a separate question bank.
    • Mock simulators on Udemy can cost between $15 to $20 US dollars. Always check reviews before purchasing. You can check-out my own PMP Exam Mock Simulator on Udemy here (https://bit.ly/raypmpmock)
  • PMI Study Hall: This is a highly recommended resource directly from PMI, offering a repository of PMP-style questions.
    • It operates on a subscription model for three months of access.
    • Base Version – 3 month access: $49 US dollars.
    • Plus Version – 3 month access: $79 US dollars.
    • Recommendation: It’s advisable to consider the Plus version ($79 USD) if your study plan allows enough time to utilize all its resources.
    • Important Note: While the questions are representative of the actual exam, the answers and explanations can sometimes be short and unclear, and there’s no direct instructor support. Nevertheless, it’s a valuable part of exam preparation.

This final stage accounts for the practicalities surrounding your exam day.

• Cost Estimate: Plan for $15 to $25 US dollars to cover transportation costs, exam logistics, or any necessary work-from-home setup if you’re taking the exam remotely.

By considering all these phases, you can develop a comprehensive budget for your PMP certification journey. The PMP Exam Price is just one component of a larger investment in your professional development. Approaching your budget like a project manager, using techniques like three-point estimation for optimistic, probable, and pessimistic scenarios, will help you prepare effectively for all the costs involved. Make informed decisions based on your budget, learning style, and commitment, and good luck with your PMP certification!