PMP is one of the most important and highly-rated certifications when it comes to project management. Organized by the Project Management Institute, the certification is globally recognized. Earning the certification not only boosts candidates career prospect in the Project Management space, it also gives them upper hand in search for jobs and promotion opportunities.
In this post, we will take a complete view of how much one should expect to spend to earn the certification. We will also consider some of the core points to note about the certification and the preceding examination. Let’s dive into it.
PMI Certification Cost in Nigeria Today
Like many other globally-recognized professional certifications, earning the PMP certificate can bet expensive, depending on how the candidate chooses to go about the whole process. Contrary to what many people thin, the actual examination cost is not the only cost that needs to be looked at when it comes to the PMP certification, there are many other cost-related aspects to be handled as well. The candidates are required to pay for the actual examination fees, the preceding training prior to the examination, and the study guides, to further help their preparation for the exam. Let us now take a look at the detailed breakdown of the certification cost.
Cost of PMP Examination – Just like in the case of many other professional certifications, the amount the PMP exam goes for depends on the PMI membership status of the candidate and the examination delivery type chosen. While being a PMI Member is not a prerequisite for the PMP examination, there are some considerable benefits members enjoy when applying for PMP exam. Some of these benefits include a discounted exam fee, unlimited access to up to date publications, and access to download a free copy of the PMBoK® Guide Fifth Edition, which is a very important study kit for the examination. While non-members of PMI are required to pay $555 for the examination fees, which equates to about N266, 400 (with exchange rate of N480 per dollar), members are required to pay a discounted $405 exam fees, which equates to about N194, 400, (with exchange rate of N480 per dollar). In situations where the candidate did not pass the examination at first try, they can take two more attempts in one year frame, although each retake attracts additional fees. Here is the breakdown of the examination fees:
PMI Membership Fees – $139 (Which equates to about N53, 500)
- Members – $405 (Which equates to about N266, 400 )
- Non-members – $555 (Which equates to about N194, 400)
PMI Re-attempt Examination Fees
- Members – $275 (Which equates to about N132, 000)
- Non-members – $375 (Which equates to about N180, 000)
Cost of Training – This is another important factor to consider. A lot of people select a training program, either online or in-person training. Apart from the fact that this helps them earn their 35 contact hours required to meet the criterion for the certification, it also helps boost their preparation for the examination. With various training institutes and training modes available today, it is left to the candidate to decide which mode and training institute to choose. While online training is cheaper, many still opt for in-person physical training as it affords them more opportunity to ask questions, interact with fellow candidates. Some of these institute also conduct mock examinations for the candidates to test their preparedness before the examination. Additional materials are also made available at these institutes to further boost their candidate’s preparation. The cost of training depends on the factors already highlighted. On the average, training costs bet ween N20, 000 – N100, 000 depending on your location, the mode of training, the training institute, duration of the training, and other similar factors.
Cost of Examination Resources – Like when preparing for many other professional examinations, the candidates usually require many resources to help their preparation. In addition to the materials that would be shared at various training institutes, PMI has made many materials available that covers the core scope of the examination. The Project Management Body of Knowledge, also known as PMBoK, is one of the very common materials made available to this effect. This material is the official resource made available by the body and hence, candidates can expect the questions in the examination to be covered in the material. The hardcopy of the material costs about $70, which equates to about N33, 600 (with exchange rate of N480 per dollar). It should be noted that the softcopy of the material is available for free for members of the PMI. They can easily go to the website, login to their account and download the material. There are also many other highly-rated organizations that have made various materials available to help candidates prepare for the examination.
PMP Cost after Passing Examination
Although passing the examination will guarantee you the certification, provided other basic criteria are met, it is important to know that PMP certification is not for life. There is a requirement to renew the certification at intervals, and this comes at a cost, of course. It is important to note that the certificate owner doer not have to be a PMI member to renew their certification, although it is more expensive for non-members to review theirs. Owners are required to renew their certification every year.
Renewal fee costs $60 (N28, 800) for PMI members and $150 (N72, 000) for non-PMI members.
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