How Expensive is the PMP Certification Exam?

How Expensive is the PMP Certification Exam?

Before we talk about the cost metrics of PMP certification, it is indeed very much necessary for us to have prior knowledge about the Project Management Professional (PMP) certification. It is an industry-recognized certification and a value-added credential for project managers. PMP demonstrates the skill, education, experience, and competency required to direct and lead projects. PMP is the most sought-after certification administered by the world's top Project Management Institute (PMI).

How can it add value to a professional?

Project Management Professionals are playing a very important role in every industry. The demand for product managers is in terms of the skill requirements which differ accordingly with geographies and industry. As per the 2019 survey report done by PMI, there will be huge opportunities for Project Management Professionals. As the companies hire people from various backgrounds and cultures, there will be an increase in the demand for project managers with a standardized set. These project managers will be expected to take-up projects to turn strategic vision into tangible goals, to ensure effective outcomes and system reorganizations while balancing various project constraints.

Benefits of PMP certification.

Now, as we know about Project management and its certification, knowing about the benefits also adds a great value. It acts as an unprejudiced endorsement to your Project Management knowledge and professional experience with companies at a global level. Its benefits include increased credibility and, in many cases, high pay and consistent higher market value. 

Most of the PMP credential holders have expressed the outcomes in multiple ways. It has opened the doors for freshers to kick start their careers, for experienced professionals it boosted with opportunities, recognition, and increments.

How long would it take to prepare for it?

A successful professional with PMP credential reviews the course to be an enthusiastic journey in the planning, designing, and execution of the assigned project. But, some assume that course is a hard nut to crack and that is where we come into the picture. The following are the several stages broken down for the ease of learning and understanding.

  • Initiating the Project – The Project Initiation Phase is the very first phase in the Life Cycle of project management, as it involves starting up a new project. You can start a new project by defining its scope, purpose, objective, and deliverables to be produced.

  • Planning the Project This phase is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated structure and resources.

  • Executing the Project In this phase, the plan designed in the prior phases of the project life is put into action. The purpose of project execution is to deliver the expected results.

  • Monitoring and Controlling the Project – Here, the process oversees all the tasks and metrics necessary to ensure that the authorized and the approved project is within the scope, on budget, and o time so that the project proceeds with minimal risk.

  • Closing the Project – This involves handing over the deliverables to your client, canceling supplier contracts, releasing staff and equipment, passing the documentation to the business, and informing stakeholders of the closure of the project.

Now, How Expensive is the PMP Certification Exam?

As the demand for PMP certification by corporate professionals is increasing extensively, many platforms and entities have evolved to train and certify. In India, the cost for the certification varies geographically and demographically. While few platform setters are capitalizing this opportunity by levying fees as high as INR 1,50,000/- others are determined to provide quality and resourceful content at the best rates.

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