The increasing difficulty of technical challenges has influenced to a crisis of human resources who can meet the requirements of projects across the globe. PMP certification offered by PMI is composed of strict standards and continuing research to enable you to attend the real-world challenges of organizations.
Project Management Professional (PMP) certification is the golden standard of project management certification which is developed by practitioners for practitioners.
Why Should You Get PMP Certification?
Professionals with a PMP certification get a higher salary maybe 20% higher on average than those without a PMP certification.
If you satisfy the following eligibility requirements as an experienced project manager then you should go forward with adding this certification to your collar:
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Responsible for all phases of the project for the life of the project and perform tasks under general supervision.
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Deliver projects within the limitations of resources, schedule, and budgets by leading and directing mixed-functional teams.
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Show sufficient experience and knowledge to properly apply a methodology to projects that have relatively well-defined project deliverables and requirements.
The PMP certification allows you to understand and speak the global language of project management and compares you to a community of experts, organizations, and professionals worldwide to become a project hero.
The Misconception about PMP Certification Cost
A standard misconception controls among all the PMP candidates about the PMP Certification cost that it only consists of the exam fee. But least does anybody believes about the other expenses involved in it. The PMP exam fee for the members and non-members of PMI are $405 and $555 each.
Then other factors liable for the cost of PMP Certification are as follows:
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Online training cost for PMP certification
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PMP classroom training
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PMI membership fee and joining fee
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PMI membership renewal fee
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PMP Certification Exam fee
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PMBOK Handbook cost for non-members
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Cost of study guides and resources
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Cost of practice tests
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Renewal cost of PMP certification
1. Online and Classroom Preparation for PMP Certification:
It gets tough when it comes to clearing your PMP certification exam at the first attempt. So, to be at a secured side you can choose between online or classroom PMP Preparation from any leading training provider in the market.
The specialties and costs of these training might change for every training provider. Also, this provides you with the chance to meet the 35 hours of training requirement which you require to qualify for your PMP certification exam.
2. PMI Membership Fee and Joining Fee:
You must pay a processing fee of $10 along with a membership fee to the PMI chapter to avail the PMI membership. Now, did you recognize that you can pay down your fee for the PMP certification exam, Re-examination, and CCR certification renewal by becoming a PMI member?
Other than this, you can get free access to PMBOK Guide, save money on globally accepted certifications and more, master new skills throughout free events and webinars, stay forward of deadlines using 1,000+ free tools and templates, and make local as well as global connections.
3. Cost of Learning Resources and PMBOK:
As soon as you get a PMI membership, you gain entrance to a free version of the latest version of PMBOK which a foundation standard for project management developed by Project Management Institute. Other than that, you need additional materials to prepare for your PMP certification exam which costs you between $40 to $100.
4. Renewal Cost of PMP certification:
Once you gain a PMP certification, that is not the end. Your credentials are valid for only three years, and you require to renew it after that. You can renew your certification by paying $150 which can be brought down to $60 by getting a PMI membership.
Steps to Becoming a PMP Certified Professional
If you are thinking to take up the PMP certification exam early, then the following nine steps will help you to plan your schedules to clear the exam at the first attempt:
1) Start with the PMP Handbook:
The PMP Handbook is a guide to all your doubts about the modes for applying and taking the exam. It comprises of all the information that you need about the process of making the PMP Exam and become a PMP certified project manager.
2) Fulfill the Prerequisites:
You must fulfill the following educational and experience requirements to take the PMP exam:
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If you have a high school diploma, an associate degree, or the global equaling these, then you must hold at least 60 months of unique, non-overlapping project management experience. Moreover, you should have consumed at least 7,500 hours of these 60 months in leading and directing project tasks.
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If you have a bachelors or its equivalent in your country, then you must hold at least 36 months of non-overlapping and unique project management experience of which you must have used 4,500 hours in directing and leading project tasks.
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You need also show 35 contact hours of project management training in both cases.
3) Become a Member of Your Local PMI Chapter:
Once you get a PMI membership, you realize that the discount is more significant than the membership fee. Aside from the free PDF version of PMBOK Guide and discount on PMP Exam, you stay updated with information described to PMP Prep Workshops once you become a PMI member.
Moreover, you also get a chance to network and communicate with the new and experienced PMPs which increases your turn to clear your exam at the first go.
4) Time to Sign up for Your PMP Exam:
You will confirm that exam preparations work better when there’s a deadline. Begin with your PMP application procedure by visiting the project management institute to register and then filling up your PMP Credential Application. You require to submit the same to PMI for approval. Once you get your confirmation number, you can schedule your exam on the Prometric website.
5) Read the PMBOK Guide:
Once you commence preparing for your PMP certification exam, you can use the PMBOK Guide as your primary reference. According to most trainers, one can find the right answer for around 75% of the PMP exam questions in the PMBOK Guide. So, you need to treat it as a resource and read it thoroughly.
6) Self-study:
The PMBOK guide will give you a rough knowledge about the answers for your PMP certification exam. So, you will have to do other study materials to cover up the gap.
You can also hear the self-study courses like PM PrepCast which will also help you to get a certificate for the PMI-required 35 contact hours which you can’t obtain by reading books.
7) Visit a PMP Workshop:
PMP workshops for 2 to 6 days are administered by PMI Chapters, schools, and training companies around the world. These workshops give you a chance to communicate with the instructors and other students to help you open your questions about the PMP certification exam.
8) Answer the PMP Exam Sample Questions:
There are many free sample questions which are available on the internet, and you can use the same to check your learning curve. You should also keep track of your scores to see where you are.
9) Take the Online Exam:
After all the hard work, it’s time for you to look for your PMP certification exam. Don’t skip the quick tutorial on how to use the computer and the software at the start of the exam to avoid a blunder.
10) Keep Your PMP Certification with 60 PDUs:
Getting PMP certified is not the end of your journey, as it is only valid for three years. You want to maintain your PMP certification by earning 60 PDUs to fulfill the Ongoing Certification Requirements (CCR).
You can earn these PDUs by involving yourself with various professional development activities which center in the fields of Education and giving back to the Profession. You can also obtain your 60 PDUs at one go by signing up for a 60 PDU bundle online training program administered by an established Registered Educational Provider.
The Way Ahead PMP Certification
Getting a PMP certification presents your door towards a promising career. A PMP certified professional gets 20% more than a non-PMP certified professional. The following list comprises of the country-wise industries along with the average salary earned by the Project Managers:
Salary of a Project Manager: Certified and Non-Certified
Getting a PMP certification contributes towards building your annual earning. A non-certified Project Manager may earn up to $91,000 whereas, this number can go up to $111,000 by adding a PMP certification to your collar.
However, even work experience adds to a rise in salary for a PMP certified professional, but this growth is not consistent across the globe. Singapore tops the list where the difference between a three-year experienced and a twenty-year experienced PMP certified professional is 177%.
Your salary can also change based on the kind of job you are in. The salary of a PMP certified professional is leading in IT.
The following figures give the salary of PMP certified professionals by the post in the United States:
Further, the size of the company also performs a key role in managing the salary of a PMP certified professional.
The following table will give you a bright idea of how the salary figures increase with the company size:
Conclusion
If you wish to progress in the field of Project Management, then getting a PMP Certification is the best way to do that.
To conclude, this gives you a clear idea of how to start your PMP certification journey. Moreover, you also get a look of the professional future which lies ahead of PMP certification.