The Cost of PMP Training
Project management professional (PMP) certification is one of the most sought-after designations across industries and geographies. Why? Because companies recognize the need for project management leaders capable of handling complex tasks with multiple moving parts, staffing demands and deadline requirements — all while staying on-time and on budget. PMP certifications provide objective assurance that potential employees can enhance business value by ensuring the competition of critical projects.PMP certifications have also emerged as a way to standardize best-practice project management skills as organizations expand globally and diversify workforces. While physical infrastructure and workplace culture vary across countries and regions, PMP certification provides the critical consistency needed by organizations to evaluate ROI and accurately identify key project goals.
Choosing PMP certification offers several advantages for industry professionals, including:
- Higher Salaries — As noted by the Project Management Institute, staff with PMP certifications earned 20 percent more (on average) than their non-PMP counterparts.
- Cross-Industry Options — PMP certifications are recognized worldwide across myriad industries. The result? More choice for PMP-holders looking to change career tracks or explore the globe.
- Networking Opportunities — PMP-certified members across the globe offer a built-in network, making it easier for management professionals to jumpstart proactive partnership talks or leverage the expertise of industry leaders.
Companies also see benefits, such as:
- Higher Performance — The vast majority of high-performing projects are handled by PMP holders; more of these professionals in the company provide more opportunities for innovation and advancement.
- Better Budgets — As noted by PMI, when at least one-third of project managers are certified, organizations enjoy more reliable project timelines and budget management.
Industry expectations are changing. Projects no longer progress in a vacuum; shareholders, front-line staff and C-suite executives want up-to-date information about completion times, deadlines and potential corporate impacts. The result? Standardization led by PMP certification. While management techniques, workplace expectations and cultural norms differ across multinational corporate offices, the evolution of PMI-based PMP standards ensures that projects can be easily cross-evaluated and compared to ensure consistent value. This standardization adds value to project manager resumes, making them top-tier candidates regardless of where they apply, and making it easier for organizations to assign them high-value projects — consistent retention of PMP certification means staff are dedicated to their craft and have the necessary skillset to handle emerging project challenges.
Earning Your PMP
The PMP certification exam is widely regarded as one of the most difficult to successfully complete, even for skilled professionals. As noted by PMI.org, eligibility for the exam demands 35 hours of project management education combined with 4,500 hours leading and directing projects for candidates with four-year degrees — those with two-year degrees require 7,500 project hours.The exam itself costs more than $500 for non-PMI members and consists of 200 multiple-choice questions that must be completed in four hours. Even more challenging? The questions aren’t simply rote memorization of key project management concepts — they demand practical application of key PMP principles combined with real-world experience.If successful, candidates must then earn 60 professional development units (PDUs) every three years to maintain their PMP certification.
PMP Training: Costs and Options
The result? Training is a critical component for PMP success — attempting to challenge the exam without digging into PMP requirements and expectations is setting yourself up for an expensive exam retake. Training for PMP falls into three basic categories:
- Free Training — Free training courses from Cybrary let you tackle PMP training on your own terms. Learn about project integration, scope, time, cost and quality management wherever and whenever works for you. At Cybrary, we believe top-tier IT and business education should be free of charge; start without PMP courses and discover your potential impact.
- Bootcamps (and alternatives) — Next up? Bootcamps. Costing thousands of dollars for a single, week-long session, bootcamps are a great way to fully immerse yourself in PMP requirements and pass the exam. The caveat? You need the time and dedication to full commit and embrace PMP boot camps: Missed days or the need for extra help can hinder your ability to challenge the PMP exam. This makes Cybrary’s business platform perfect for companies and teams that want to save time and money and get training year-round. Check out Cybrary for Business to learn more about workforce development training options.
- Live Training Sessions — At Cybrary, we offer a middle ground for PMP training: Live courses. As part of our subscription service, members get access to PMP live sessions that happen three times per week, 1.5 hours per session. Multiple question periods along with access to labs, assessments, mentorship and the ability to take multiple training courses at once offer significant value for a single monthly cost.
The challenging nature of PMP pays dividends: Businesses enjoy the stability that comes with PMP-certified teams, while staff gains the benefit of international hire-ability and the potential for enhanced career opportunities.Looking to complete the exam ASAP? Create a free team
for your company to access all the certification preparation resources needed. Need an introduction? Opt for Cybrary’s free courses. Choosing the slow and steady route? Dive in with Cybrary’s live session PMP training.