The Cost of PMP Certification: Is it Worth the Investment?

Currently, almost all industries need a project manager.A project manager is in charge of a project from start to finish. So, the project’s success is in the hands of a project manager.

However, being a project manager is a challenging thing. Apart from mastering project management tools, it would help if you also had problem-solving, budgeting, negotiation, and leadership skills.

Not only that, but you also need a project management certification to be recognized as a competent project manager. Someone with a project management certificate has proven that he masters, understands, and applies this knowledge.

In addition, they are also considered capable of analyzing and evaluating project management issues. One of the most popular project management certifications is the Project Management Professional (PMP).

Intro to PMP Certification

The certification was issued by the Project Management Institute (PMI), the largest and oldest certification body in the field of project managers.

Interestingly, the PMP certification is valid globally in almost all industries. So, you don’t need a new certificate if you switch industries.

In addition, a project manager who holds a PMP certificate is said to be able to earn a 25% higher salary than those who do not have such a certificate in the same position.

The title “PMP” behind your name will show you have strong project management knowledge and foundation. That way, companies can trust and recognize your expertise more.

According to data from PMI Today, there were at least 932,720 PMP certificate holders worldwide as of June 2019. However, the number of holders of this certificate in Indonesia still needs to grow.

The PMP certification is suitable for project managers with extensive project management experience who wish to handle large-scale projects.

If you already have a PMP certificate, you must collect 60 Professional Development Units (PDUs) per three years to maintain this certification.

Project Management Training

Mentioned above as contact hours, you must hold Project Management training of a specified duration via PMP certification courses. Both offline and online modes are acceptable. You can also consider a Certified Associate in Project management (CAPM) certification.

The choice of online or offline training depends on the candidate’s schedule, the requirement of interaction with guides/trainers and the price of courses.

How Long Does PMP Certification Take?

Based on eligibility criteria, the exam preparation duration depends on the type of experience or education level you already have. The following sections indicate the time required for each eligibility criterion.

Education

Time duration

High-school Certificate
  • 35 contact hours or CAPM certification
  • 60 months of experience in leading projects
Graduation or four-year degree
  • 35 contact hours or CAPM certification
  • 36 months experience in leading projects

How Does It Costs?

The cost of PMP certification can vary depending on the training method you choose and your location. Classroom training ranges from $500 to $2,000 and online training can vary widely.

Factors such as country and training provider can also affect the cost. It’s important to research and compare costs before making a decision on which training method to choose.

Country PMP Classroom Training Price Range (USD)
US, Canada, Australia $1,500-3,500
Brazil, Chile (South America) ~$600
China, India ~$500
European Countries $1,200-2900
Arabian Countries (UAE, Qatar, Kuwait…) ~$2,500

As you can see, we can not say there’s a fixed price for PMP Certification classroom training, thus for the PMP certification cost.

Online Class Training

The cost of online PMP certification training can vary greatly, depending on the provider and the specific course. Some online PMP certification training programs can cost as low as $300, while others may cost upwards of $1,000. It’s important to do your research and compare different options before making a decision.

When considering an online PMP certification training, it’s important to consider the reputation and credibility of the provider, the quality of the course materials and instruction, and the level of support and resources provided.

Additionally, it’s also important to factor in any additional costs such as exam fees, study materials, and membership fees. Overall, the PMP certification cost can vary widely, but it’s worth the investment for those looking to advance their careers in project management.

What are the advantages of taking an online PMP certification training course?

There are several advantages of taking an online PMP certification training:

1. Study at your own pace and schedule

2. Study from anywhere and at any time

3. Cost-effective

4. Find a course that fits your budget and learning style.

5. Course materials such as videos, quizzes, and practice exams

6. Interactive features such as chat rooms, message boards, and virtual classroom sessions

Exam Domain PMP Certification

Previously, the PMP exam was based on five performance domains, which could be referred to as the five stages of project management: initiation, planning, execution, monitoring, and closing.

In 2021, based on PMI research results and experts, the exam content has been changed into the three domains defined in the PMP Exam Content Outline (ECO). Here are the domains on the PMP certification exam outline:

1. People with a percentage of 42%

The People domain includes 14 tasks that stem from the idea that a key to PM success is developing leadership skills to help them build, manage, empower, and engage with the teams that bring projects to life.

One of the tasks of a project manager is to bring together a large number of people who have their own needs and expectations of working towards the same goal.

PMs are leaders who help stakeholders define project visions, evaluate conflicts, build teams, and effectively manage groups of people going to different managers on an org chart with multiple growth goals.

2. The process with a percentage of 50%

Consisting of 17 tasks, the Process domain establishes the project’s foundation and ensures a workable path to success.

These tasks include:

  • Setting communication standards for stakeholders
  •  Planning budgets and resources
  • Managing project milestones and overall schedules
  • Following change management practices
  • Determining appropriate methodologies, and more

Some general scopes that need to be prepared in this 2nd domain are:

  • What are the most appropriate project methods and best practices (including communication channels)
  • How to plan and manage project scope
  • Available budget and resources
  • Manage schedules and define work packages
  • Develop project planning activities
  • Manage products and deliverables
  • Define the change control process
  • Develop project governance processes

2. Business Environment with a percentage of 8%

The Business Environment domain aligns with PMI’s Strategic and Business Management pillars to help PMs evaluate project status about the organization’s overall goals and outside business standards.

This new domain includes four tasks that focus on planning for project compliance, evaluating project benefits and value, evaluating the external business environment, and supporting organizational change. Some general scopes that need to be prepared for this third domain are:

  • Evaluate project benefits and assess value for the organization
  • Understand any implications (legal and risk) on project changes from external or internal forces
  • Evaluate external forces (market and technological changes) and their impact on the project
  • Integrate project management with change management in business
  • Evaluate the Return on Investment (ROI) on projects and align with business goals

Within each of these three domains, the exam content outline lists Tasks (what the project manager does) and Enablers (the actionstaken to complete the tasks).

In addition, PMI also clearly states that about half of the checks will represent a project management approach, and the other half will describe an agile approach.

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