If you’re considering pursuing the Project Management Professional (PMP) certification, it’s important to understand the PMP exam fees and the fees associated with the Project Management Institute (PMI). In this article, we will provide you with everything you need to know about PMP exam fees and PMI fees, including the cost of the PMP certification, exam retakes, membership benefits, and ways to save money on your PMP journey.
The Cost of PMP Certification
The cost of PMP certification varies depending on your PMI membership status and exam administration method. Here are the key components of PMP exam fees:
- PMI Membership: PMI offers membership options that provide various benefits, including discounted exam fees. The membership fee ranges from $129 to $299 per year, depending on your membership level.
- Exam Fee: The PMP exam fee for PMI members is $405, while non-members pay $555. It’s worth considering becoming a PMI member to take advantage of the discounted exam fee.
- Exam Retakes: In case you don’t pass the PMP exam on your first attempt, you have three more opportunities to retake the exam. The cost for reexamination is $275 for PMI members and $375 for non-members.
- Additional Study Resources: Apart from the exam fee, you may choose to invest in study materials, such as PMP exam prep books or online courses, to enhance your chances of success. The cost of these resources varies.
Membership Benefits and Cost Savings
Becoming a PMI member not only provides you with discounted exam fees but also offers several other benefits:
- Access to Resources: PMI members gain access to a wealth of resources, including digital editions of PMI standards, networking opportunities, and online communities.
- Professional Development: PMI offers webinars, seminars, and other professional development opportunities that can help you expand your project management skills and knowledge.
- Continuing Certification Requirements (CCR) Program: PMI members can participate in the CCR program to earn professional development units (PDUs) required for maintaining their PMP certification.
- Local Chapter Membership: PMI has local chapters worldwide that offer networking events, educational programs, and volunteer opportunities.
Tips for Saving Money on Your PMP Journey
Here are some tips to help you save money as you pursue your PMP certification:
- Become a PMI Member: As mentioned earlier, PMI membership offers discounted exam fees and access to valuable resources. Evaluate the benefits of membership and consider joining to save on PMP exam costs.
- Create a Study Plan: A well-structured study plan can help you focus your efforts and avoid wasting time and money on unnecessary study materials or courses.
- Utilize Free Resources: Take advantage of free resources available online, such as PMP study guides, practice exams, and forums. These can supplement your study materials without additional cost.
- Network and Share Study Materials: Connect with other PMP aspirants to share study materials or split the cost of expensive resources.
- Take Advantage of PMI Events: Attend local PMI chapter events, which often offer educational sessions at discounted rates or even for free.
- Consider Group Study: Form a study group with fellow PMP candidates to share study materials and divide the cost of group study sessions or coaching.
Other considerations for taking PMP exam
Beyond the fiduciary considerations, other costs must also be considered. The 35 contact hours training costs, depend on which type of training you have chosen, in person, online, tutoring, self-paced, boot camp, etc., all cost accordingly. But time is also a consideration.
There is the time it takes to prepare your documentation. The time it takes to complete the PMP training. Time must be taken out to study, and time for the exam itself. If you need to retake the exam that can double or triple the study time and exam time. Budgeting your time is as important as budgeting your money.
You may want to consider investing in a PMP exam prep course. You’ll earn your 35 education hours at the same time as preparing for the exam. Check out Brain Sensei’s PMP Exam Prep options. They include a 100% pass guarantee and 30-day refund guarantee. 99.6% of their students pass on their first try.
The advantages of PMI membership for aspiring PMP certificate holders
If you are heading towards certification, the PMI membership is a great place to start. The cost benefits alone should make it an easy decision. However, if you need more convincing, continue reading.
As we stated there is the cost. The membership lowers your exam fees and any subsequent fees, re-attempts, and renewals.
It provides you with access to the Project Management Book of Knowledge (PMBOK) as well as other publications, articles, tools, and templates for your study as well as your job.
Membership offers you the chance to network with your colleagues, locally and online and
Membership provides you with the opportunity to obtain other certifications and maintain the Professional Development Units (PDUs) that you need to keep your membership in good standing.
PMP Certification Renewal Costs
Once you have your PMP certificate you will be required to keep it in good standing. There are steps that PMI has you follow to do every three years.
- During the three years before each renewal, you need to complete and report 60 Professional Development Units (PDU). Courses available that meet PMI standards are on their website as well as additional items that can count towards this requirement.
- There is a PMP certificate renewal application that must be completed in its entirety.
- There is a renewal fee after PMI has confirmed that you have met the above requirements.
Renewal Fees for PMP Certification
As with the original certification, the PMP renewal fees are different if you are a member in good standing. PMI membership holders pay $90 less than non-members. Another privilege of membership.
PMP Renewal Fees($USD)
PDU requirements for PMP Renewal:
Most professionals are attending courses and consistently staying up to date to improve their skills in project management. Professional Development Units are a way to measure that improvement.
PMI recognizes a variety of activities that count as PDUs. These fall into two classifications:
- Education – improving your technical, leadership, and business management skills. This can count towards a minimum of 35 hours of your PDU requirements.
- Paying it forward – using your expertise and abilities to help improve the field of project management. This can count towards a maximum of 25 hours of your PDU requirements.
In total, you must complete 60 certified PDUs in order to apply for renewal of your PMP certificate.
Minimum Education PDU
Maximum Giving Back PDU
3 Years from Getting PMP Certificate or Re Certification Date
PMI uses the Talent Triangle. The triangle shows what PMI considers as the “ideal skill set” combination for renewal of your certificate.
- Technical Project Management encompasses the knowledge, skills, and behaviors necessary in relation to Projects, Programs, and Portfolio Management.
- Leadership again looks at knowledge, skills, and behaviors, but is specifically focused on the leadership qualities that have helped the profession and the organization obtain its goals.
- Finally, Strategic and Business Management demonstrates the knowledge and expertise that strengthens the operations of the industry or organization in order to deliver the best results.
Fees for Rescheduling or Canceling the PMP Certification Exam
Depending on the situation, you may need to cancel or reschedule your PMP exam. The sooner you know the better chance you have to change the appointment. Be aware, there may be a cost.
If you reschedule or cancel the exam more than 30 days before, you won’t be charged a fee. If you reschedule or cancel more than 2 days before but less than 30, you will be charged $70. Two days or less prior to your originally scheduled exam, your entire exam fee will be forfeited.
PMP Exam Rescheduling/Cancel –
Days Prior to exam (it doesn’t include the day of exam)
PMP Exam Rescheduling Fees($USD)
More Than 30 Days
Less Than 30 Days, But More Than 2 Days
2 Days or Less
Forfeit Entire Exam Fee
Rescheduling or canceling the exam may not be avoidable, but the difference in cost to cancel or re-schedule is up front and should be evaluated. If it is under the 30 days, you may want to see if you can find a way to go ahead with your exam appointment.
Canceling or Rescheduling the Computer Based Testing (CBT) PMP Exam Appointment
If you have scheduled your appointment online through PMI’s website, pmi.org. As with the exam, you will be redirected to the Pearson VUE website where you can see your appointment date and reschedule or cancel accordingly.
Canceling or Rescheduling the Paper Based Testing (PBT) PMP Exam Appointment
In order to cancel or reschedule the PMP exam appointment for a paper-based exam, you must send an e-mail to firstname.lastname@example.org. If you do this no later than 35 calendar days prior to the exam you should be able to cancel or reschedule without incurring an additional fee.
Make sure to include your name, your PMI Identification Number, your group ID number, and the location of the scheduled appointment in your email. The identification number and group ID numbers can be found in the confirmation letter you received when you originally scheduled your exam.
Criteria to Receive a Refund for PMP Exam Fees
There are circumstances where you can have part of your exam fee refunded. In certain circumstances, you can get a refund for the PMP exam fees you have paid. We will see these now.
- PMP applications that were audited and failed that audit will receive a partial refund. PMI will deduct $100 from your PMP exam fees and refund the rest.
- PMP applicants that have passed the audit or weren’t selected for audit but have been unable to take the exam can request PMI to deduct $100 and refund the rest. This is for applicants that were unable to schedule the exam prior to one month before the expiration date.
- In the event that you have failed to take the exam by the eligibility expiration date, PMI will not refund the exam fees. The eligibility date is usually set one year after the approval date of your application.
- In the event of failure of the PMP exam, fees are not refundable through PMI.
- In the event that you have an appointment for the exam and do not attend you will relinquish your fees with no refund from PMI.
There are instances that are unavoidable, and PMI understands that there are often extenuating circumstances which may require you to reschedule or cancel your appointment.
PMI considers the following as extenuating circumstances:
- Medical Emergency
- Military Deployment
- Death in Immediate Family
- Illness in Immediate Family or
- Natural Disasters.
PMI doesn’t consider these when the circumstances are work-related.
Contact PMI’s Customer Care Department at email@example.com. Make sure to provide them with your name, date and location of the exam, and PMI Identification Number, along with any documentation that supports your reasons for canceling or rescheduling in order to obtain a refund without penalty.
Paying for the PMP Exam Fee
The PMP exam fee can be paid by credit card, check, money order, or wire transfer. For credit cards PMI has an online payment portal and this is the quickest way to ensure your payment is received. You can also send your credit card information, check, money order, or wire transfer information through snail mail.
We recommend sending your information and payment certified or priority so that you have the ability to track the parcel. You can always contact PMI’s Customer care at firstname.lastname@example.org for more details.
For those of you that are currently working within an organization, contact your human resources department to see if there is any allowance for reimbursement of coursework and/or fees.
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Understanding the PMP exam fees and PMI fees is crucial when planning your journey to PMP certification. By considering the cost of PMP certification, exam retakes, and the benefits of PMI membership, you can make informed decisions and effectively manage your budget. Remember to explore ways to save money, such as becoming a PMI member, utilizing free resources, and networking with other PMP aspirants. With careful planning and budgeting, you can embark on your PMP journey with confidence and minimize financial burdens along the way.
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