PMP Certification Cost

PMP® Certification CostThe Project Management Professional (PMP)® exam is considered the ‘gold standard’ certification for many project managers and employers.

The standard is high, both for the exam itself and also for the eligibility requirements. In particular, you need to be able to evidence that you have 35 contact hours of formal education. Are you seeing the costs already start to add up?

The latest edition of A Guide to the Project Management Body of Knowledge (PMBOK® Guide) is larger than ever before. The exam covers a huge range of topics and is more experience-based than it was in the past. That is why it’s no longer enough to memorize what you need to know. You also have to be able to understand and apply the concepts.

So how much does PMP cost in total?

In this article, we will take a look at all the fees, charges and costs relating to getting your PMP certification so you can create a budget for your PMP fees.

We discuss 12 different types of costs associated with achieving your PMP certification such as:

  1. The PMI Membership
  2. PMBOK® Guide
  3. PMP Certification Fee
  4. Training Course
  5. PMP Exam Simulator
  6. PMP Coach
  7. PMP Study Guides
  8. PMP Formula Guide
  9. PMP Flashcards
  10. Apps
  11. eBooks
  12. Brain Dump Sheets

Read more: https://www.project-management-prepcast.com/pmp-certification-cost

Print Email

Creating Your PMP® Study Plan - The Complete Guide

Creating Your PMP® Study Plan - The Complete GuideStephen R. Covey, in his best-selling book The 7 Habits of Highly Effective People, famously stated: “Start with the end in mind.”

Applying this concept to studying for and passing the Project Management Professional (PMP)® certification exam means understanding what material is covered on the exam, how the PMP® exam is structured to test your comprehension and knowledge, and developing and following a study plan. 

Starting with the end in mind allows you to treat your study plan like a project, maximize your time and resources, and increases your ability to get your PMP certification.

In this article I am going to show you how to create your very own study plan. Step by step. We begin with a general overview and then quickly move on to nearly a dozen best practices that we have identified. You will know exactly what to do!

Expect answers to the following questions:

  1. What is the Best Way to Study for PMP Exam?
  2. How do I Thoroughly Prepare for PMP Exam?
  3. How do I Develop a PMP Study Plan?
  4. How do I Study for the PMP Exam and Pass?
  5. How do I Develop a PMP Exam Preparation Plan?
  6. How do I Prepare a PMP Exam Schedule?
  7. Will I Succeed in Studying the Exam with a Partner?
  8. Are Practice Exams a Must?
  9. Should you Look Outside A Guide to the Project Management Body of Knowledge (PMBOK® Guide)?
  10. What’s a PMP Study Plan Template?

Read more: https://www.project-management-prepcast.com/pmp-study-plan

Print Email

PM PrepCast Black Friday Sale

Black Friday SpecialAre you ready for this?

It's the time of the year again! It's (almost) Black Friday.

How does a $100 discount to the PM PrepCast Elite sound to you?

Yes! You heard that right. Get $100 off when you purchase The PM PrepCast Elite on Black Friday - November 29, 2019.

Enjoy the PM PrepCast and PM Exam Simulator Bundle for only $199 instead of paying our current price of $299.00.

Remember: This is good for one day only! Also, this offer is limited to the first 50 buyers.

Use discount code "black100" when you check out.

Here's the link to order.

Print Email

Write comment (0 Comments)

Free PMP® Exam Sample Question

Free PMP® Exam Sample QuestionYou are leading a project to build an oil pipeline in a foreign country, and you are looking for local contractors to outsource some of the construction work. You are in the process of preparing the bid package for prospective sellers. Which of the following documents would you leave out of the package?

A. Request for proposal
B. Statement of work
C. Independent cost estimates
D. Source selection criteria

--------------------
HINT: To answer this question correctly, you need to consider the flow of information between the buyer and prospective sellers before the procurement selections are made.
--------------------

All our questions are updated to the latest A Guide to the Project Management Body of Knowledge (PMBOK® Guide) standard. Stop by at http://free.pm-exam-simulator.com/ and try the PM Exam Simulator free for 7 days. We are a Project Management Institute (PMI)® Registered Education Provider

Answer and Explanation
The correct answer is C.

Preparing the bid package for prospective sellers implies you are carrying out the Plan Procurement Management process. Bid documents (with the request for proposal (RFP) among them), procurement statement of work (SOW), source selection criteria, independent cost estimates are among the outputs of this process. These documents are also among the inputs to the Conduct Procurements process. However, not all of these documents are provided by the buyer to the prospective sellers. Sometimes, to benchmark procurements, the buying organization develops independent cost estimates either internally or using external resources such as a professional estimator. Buyers do not usually provide these estimates to the prospective sellers since a benchmark range may prejudice the sellers into proposing prices that do not actually work for their business model and resources. The buyer uses these benchmark estimates principally to verify if bids are reasonable, or if a large number of outliers indicate an issue with procurement processes or communications. Thus, of the choices provided, leaving the independent cost estimates out of the bid package makes the most sense and is, therefore, the best answer to the question asked.

Details for each option:

A. Request for proposal
Incorrect. The RFP, along with the request for information (RFI), and request for quotation (RFQ) are all bid documents that directly invite prospective sellers to bid for the project so that they may be included in the selection analysis. One of these types of documents should be in the bid package.

B. Statement of work
Incorrect. The SOW describes in detail the required products, services, or results. Without such detail, prospective sellers may not be able to determine if they can fulfill the requirements. Either the SOW or a similar document, terms of reference (TOR), should be in the bid package.

C. Independent cost estimates
Correct. The buying organization develops independent cost estimates either internally or using external resources such as a professional estimator. Buyers do not usually provide these estimates to the prospective sellers, because they are primarily for internal benchmarking purposes.

D. Source selection criteria
Incorrect. Competitive selection methods may require sellers to invest a large amount of time and resources upfront. Therefore, it is a good practice to include the evaluation method in the procurement documents, so bidders know how they will be evaluated.

Reference: A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute Inc., 2017, Page(s) 477-479, 485

Print Email

Weekly PMP® Exam Tip: 06. Be sure to answer all the questions

Weekly PMP® Exam TipThe PMP® Exam is a computer-based exam with 200 multiple-choice questions. This means that each question has exactly one correct answer. The exam will give you exactly four hours to answer these questions. If you prepared well, this should be a breeze. Most find four hours to be more than sufficient for the exam. (It took me 3 hours and 58 minutes because I wasn't feeling well on that day.) Out of these 200 questions, 25 questions are pretest questions. These are randomly placed throughout the exam and are used for research purposes. These questions will not count towards your final score. But even though you will only be evaluated on the basis of 175 questions you still must answer all 200 because you won't know which ones are the 25 pretest questions.

PMI does not release the actual score that is required for you to pass the exam. All they tell us is that "The passing score for all PMI credential examinations is determined by sound psychometric analysis." So nobody but PMI knows how many questions you have to answer correctly in order to pass.

This is important: Remember that there is no negative marking on the exam. This means that you are not penalized for questions that you answered incorrectly. There is just "correct" or "wrong" for the scoring. This means that if you leave any questions unanswered they will be counted as "wrong". So remember not to leave any question unanswered. You need to answer them all.

After you click on finish and submit the exam, you will see on-screen whether you passed or failed. This takes about 10 seconds but feels like an eternity. You will also receive a printed examination report that tells you how you did in the various domains.

To feel confident that you can do it, you must have undergone enough preparations and must have taken practice exams several times based on the lessons learned from the study materials of your choice.

Until Next Time,
Cornelius Fichtner, PMP, CSM
The PM PrepCast - http://www.project-management-prepcast.com

Print Email

More Articles ...