Home Project Managenment Is PMI Certification Worth It? Here’s What You Should Know – Forbes Advisor

Is PMI Certification Worth It? Here’s What You Should Know – Forbes Advisor

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Is PMI Certification Worth It? Here’s What You Should Know – Forbes Advisor

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The Project Management Institute (PMI) administers PMI certifications to those who work or are planning to work in project management. PMI certifications are recognized around the world and qualify recipients to work in many industries.

You can choose from a variety of PMI certifications depending on your experience, skills and career goals. From entry-level professionals to senior leaders, project management professionals can pursue certification to develop their skills, gain experience and build on their experience.

What Are PMI Certifications?

PMI certifications help project management professionals learn new skills and grow in their careers. Each certification serves its own purpose within the realm of project management. Below are descriptions of PMI certification options.

Project Management Professional (PMP)®

PMP certification shows that you are qualified to lead and direct projects as a project management professional.

PMP Certification Requirements

  • A bachelor’s degree
  • 36 months of project leadership
  • 35 hours of project management training or CAPM® certification

or

  • A high school diploma, an associate degree or equivalent coursework
  • 60 months of project leadership
  • 35 hours of project management training or CAPM

PMP Exam Cost

The exam fee is $405 for PMI members and $555 for nonmembers.

PMP Time Commitment

Time commitment varies depending on your education and experience. You should earn a degree, complete three to five years of project leadership, undergo 35 hours of project management training and study and take the certification exam. You are allowed up to 230 minutes to take the exam.

Certified Associate in Project Management (CAPM)®

This certification shows that you understand the fundamentals of project management and have the skills to manage projects in various environments.

CAPM Certification Requirements

  • A secondary degree, which may be a high school diploma, an associate degree or equivalent coursework
  • 23 hours of project management education or training

CAPM Cost

The exam fee is $225 for PMI members or $300 for nonmembers.

CAPM Time Commitment

You have three hours to complete the exam.

Program Management Professional (PgMP)®

PgMP certification shows that you have the skills and experience to coordinate and manage multiple projects within an organization.

PgMP Certification Requirements

  • A secondary degree, which could be a high school diploma, an associate degree or coursework that is globally equivalent
  • 48 months of experience in project management or PMP
  • 84 months of experience in program management within the past 15 years

Or

  • A bachelor’s degree
  • 48 months of experience in project management or PMP
  • 48 months of experience in program management within the past 15 years

PgMP Cost

The exam fee is $800 for PMI members or $1,000 for nonmembers.

PgMP Time Commitment

You have four hours to complete the exam.

Portfolio Management Professional (PfMP)®

This certification shows that you demonstrate the skills and knowledge to coordinate and manage one or more portfolios that align with an organization’s strategic objectives.

PfMP Certification Requirements

  • A secondary degree, which can be a high school diploma, an associate degree or equivalent coursework
  • 96 months of professional business experience within the past 15 years
  • 84 months of experience in portfolio management

or

  • A bachelor’s degree
  • 96 months of professional business experience
  • 48 months of experience in portfolio management

PfMP Cost

The exam fee is $800 for PMI members or $1,000 for nonmembers.

PfMP Time Commitment

You have four hours to complete the exam.

PMI Professional in Business Analysis (PMI-PBA)®

This certification signifies that you have the business analysis skills needed to manage projects according to a business’s requirements.

PMI-PBA Certification Requirements

  • A secondary degree such as a high school diploma, an associate degree or equivalent coursework
  • 60 months of experience in business analysis
  • 35 hours of education or training in business analysis

or

  • A bachelor’s degree
  • 36 months of experience in business analysis
  • 35 hours of education or training in business analysis

PMI-PBA Cost

The exam fee is $405 for PMI members and $555 for nonmembers.

PMI-PBA Time Commitment

You have four hours to complete the exam.

PMI-PBA Risk Management Professional (PMI-RMP)®

This certification signifies that you demonstrate expertise in identifying and managing risks to reach successful project outcomes.

PMI-RMP Certification Requirements

  • A secondary degree like a high school diploma, an associate degree or equivalent coursework
  • 60 months of experience in risk management within the past five years
  • 40 hours of education or training in project risk management

or

  • A bachelor’s degree
  • 24 months of experience in project risk management within the past five years
  • 30 hours of education or training in project risk management

PMI-RMP Cost

The exam fee is $520 for PMI members and $670 for nonmembers.

PMI-RMP Time Commitment

You have 3.5 hours to complete the exam.

PMI Scheduling Professional (PMI-SP)®

This certification shows that you have the skills to develop and manage project schedules.

PMI-SP Certification Requirements

  • A secondary degree such as a high school diploma, an associate degree or equivalent coursework
  • 40 months of experience in project scheduling within the past five years
  • 40 hours of education or training in project scheduling

or

  • A bachelor’s degree
  • 24 months of experience in project scheduling within the past five years
  • 30 hours of education or training in project scheduling

PMI-SP Cost

The exam fee is $520 for PMI members and $670 for nonmembers.

PMI-SP Time Commitment

You have 3.5 hours to complete the exam.

PMI Agile Certified Practitioner (PMI-ACP)®

This certification shows that you are knowledgeable and skilled in agile project management principles and techniques.

PMI-ACP Certification Requirements

  • A secondary degree, which could include a high school diploma, an associate degree or equivalent coursework
  • 12 months of experience in general project management within the past five years or a current PMP or PgMP certification
  • Eight months of experience in agile project management within the past three years
  • 21 hours of education or training in agile practices

PMI-ACP Cost

The exam fee is $435 for PMI members and $495 for nonmembers.

PMI-ACP Time Commitment

You have three hours to complete the exam.

PMI Project Management Ready™

This entry-level certification introduces the fundamentals of project management to high school and post-secondary school students.

PMI Project Management Ready Certification Requirements

  • You must be a high school or postsecondary student.
  • You must be computer-literate and read at the seventh-grade level.
  • You must be able to engage in training activities and take exams.

PMI Project Management Ready Cost

School and test center administrators can find out more information about coursework, learning materials, pricing, practice tests and certification exams through Certiport.

PMI Renewal Costs

The cost to renew your PMI certification is $60 for PMI members and $150 for nonmembers. To maintain certification, you must also earn professional development units (PDUs). You can earn PDUs through education or by working as a project management practitioner, speaking at conferences, mentoring others or volunteering.

To renew certification, you must typically earn between 15 and 60 PDUs every three years. The costs of earning these PDUs vary and are in addition to the PMI certification renewal fees.

How to Sign Up for PMI Certifications

You can sign up for PMI certifications through the Project Management Institute’s website. Before registering, you may want to purchase a PMI membership, which gives you access to webinars, project plans, templates, free downloads, networking events and other valuable resources. Membership also provides reduced rates for your exams.

Is a PMI Certification Worth It?

For many project management professionals, earning a PMI certification is worth it. Here are some things to keep in mind as you decide if this path is right for you.

Consider Your Career

If you’re a current or prospective project management professional, you should consider earning a PMI certification. Whether you are an entry-level project manager or a seasoned professional, certification can help you take your career to the next level.

Look at Earning Potential

According to a Project Management Institute survey, professionals with PMI certifications earned salaries that were 16% higher than those who were not certified.

Build Your Resume

Once you earn a PMI certification, make sure to include it on your resume. A certification can set you apart from other candidates by demonstrating competency and success in your project management activities. Your resume should also include information showing that you know how to use resources, tools and project management methods to achieve the best results.

Expand Your Network

As you build your career, you may encounter challenges during your projects. It’s important to take time to network with other project management professionals. You may be able to consult with others in your network who can share their knowledge and ideas to help you with your projects. You may also connect with those who can benefit from your expertise and advice.

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