The cost of obtaining your PMI CP certification can vary depending on several factors, including:
- PMI Membership Status: Project Management Institute (PMI) members receive a discounted rate on exam fees and other resources.
- Location: Exam fees can differ slightly depending on your geographic location.
Here’s a breakdown of the estimated costs you might incur:
PMI Membership (Optional):
- Individual Membership: Annual fees typically range between $130 and $160 (USD) depending on your membership level. (Check PMI website for the latest pricing)
PMI CP Exam Fees:
- PMI Members: The exam fee for PMI members is generally lower, costing around $399 (USD) + taxes. (Check PMI website for the latest pricing)
- Non-Members: For non-PMI members, the exam fee is significantly higher, typically around $499 (USD) + taxes. (Check PMI website for the latest pricing)
Study Materials:
- Official PMI Resources: PMI offers various study materials like the PMI CP Certification Handbook and online practice exams. These resources come at an additional cost.
- Third-Party Resources: Numerous third-party vendors offer PMI CP prep courses, books, and practice exams. Prices can vary depending on the format and provider.
Exam Retake Fees:
- If you don’t pass the exam on your first attempt, there’s a fee for retaking it. This fee is usually similar to the initial exam fee.
Here’s an example to illustrate the potential cost range:
- Scenario: You are not a PMI member and decide to purchase a PMI CP Certification Handbook and a third-party practice exam bundle for $200 (USD).
- Estimated Cost: Exam fee ($555) + Study Materials ($200) = $755 (USD)
Total costs can range from around $405 (USD) for PMI members using only official resources to over $755 (USD) for non-members using additional study materials.
Here are some tips for minimizing the cost of PMI CP certification:
- Join PMI: If you plan to pursue other PMI certifications in the future, a PMI membership can be cost-effective in the long run due to discounted exam fees.
- Utilize Free Resources: Explore free resources like PMI webinars, chapter meetings, and online communities to supplement your studying.
- Consider Used Books or Study Materials: Look for used copies of study materials or join online communities where members might sell their resources.
Remember, the investment in PMI CP certification can pay off in the long run. It can increase your earning potential, open doors to career advancement opportunities, and demonstrate your expertise in construction project management.
