The Project Management Institute (PMI) offers the Project Management Professional or PMP certification to qualified applicants who can demonstrate excellence in managing projects. There are several costs associated with obtaining the PMP certification which should be considered before submitting an application.
Applicants must obtain 35 hours of project management related coursework or contact hours before applying for PMP certification. PMI accepts a broad array of coursework to qualify as contact hours and classes can range from free to several thousand dollars depending on the institution offering the courses. Many individuals obtain these hours from courses provided by their place of employment.
All applicants must pass an exam offered by PMI to receive the PMP certification. As of 2010, costs for the PMP exam were as follows: - Computer-Based Testing (CBT) -- PMI member = £263 - Computer-Based Testing (CBT) -- Non-member = £360 - Paper-Based Testing (PBT) -- PMI member = £162 - Paper-Based Testing (PBT) -- Non-nember = £260
PMI membership is not required to receive PMP certification, but is highly recommended. Applicants receive a discount on the PMP exam and a host of other benefits. As of 2010, the annual cost for a new PMI membership was as follows: - Individual = £83 - Student = £19 plus a £6 application fee - Retirees = £39
Individuals who have obtained the PMP certification must maintain the credential by earning Professional Development Units (PDUs). PMI requires PMP certified individuals to earn 60 PDUs every three years. The PDUs range in price from free offerings to several thousand dollars per PDU.
Individuals can receive a refund on the PMP exam fees if a written request is submitted to PMI at least one month before the exam expiration eligibility date. The individual will receive a full refund minus a £65 processing fee. An individual will also receive a full refund minus a £65 processing fee if they fail to meet the pre-qualifications during a PMI audit.