Components of RMP Certification cost

RMP Certification cost is a critical aspect for RMP aspirants. Many candidates solely take into account the exam and training course costs. However, there are additional costs associated with RMP certification.

RMP Exam cost

Project Management Institute (PMI) offers different pricing for the RMP Exam fee. The fees for payment are determined by candidates’ PMI membership status and the examination delivery type (computer-based or paper-based). This final examination fee is a fixed amount for everybody taking the exam from anywhere around the globe. The following chart depicts the exam cost for RMP applicants.

Candidates need not get PMI Membership to sit for the RMP Exam. However, being a PMI member brings various advantages for RMP applicants. These include savings on RMP Exam fees, free access to PMI standards and publications, and access to content, events, tools, and templates.

Re-examination Cost

There is a one-year eligibility period for candidates to pass the examination. The the RMP Examination can be taken up to three times during the eligibility period.

Training Cost

Professionals require a formal RMP Training of 30 or 40 contact hours to sit for the exam. The training requirements are 40 hours for those with secondary education and 30 hours for those with a bachelor's degree or above. These training sessions typically cost between USD 1700 and USD 2000.

Renewal Cost

RMP Certification holders need to renew their certificates every three years to maintain it. In order to renew their certificate, they have to earn PDUs and pay renewal fees. The renewal fees for RMP Certificate are USD 60 for PMI members and USD 150 for non-members.

Why take PMI RMP Certification?

• Secure job: According to the PMI's 2015 Pulse of the profession report, 83% of high-performing firms regularly use risk management, compared to 49% of low-performing ones. High performers spend 13 times less money and fulfill their targets 2.5 times more than low performers. Therefore, RMP Certification holders have a great chance of finding employment. The certificate emphasizes professionals' capacity to access and recognize project risks , reduce risks, and seize opportunities. It further certifies their specialized knowledge in the area of Risk Manaagement and gets them recognized in the eyes of peers, stakeholders, and employers.
• Professional development: Practitioners with the PMI-RMP Certification are well positioned to deliver the professional abilities required to lead project teams and produce effective project results. It aids in their advancement to the next level and raises their pay. Additionally, it helps in maintaining their position in challenging circumstances like pandemics and economic downturns. A professional who is further looking forward to changing his/her employer whilst staying in the same field can also benefit from owning RMP Certification.
• Sharpen skills: To remain competitive in this fast-paced technological changes, one must continually update one's skills to the next level. Organizations also require employees with specialized talents who are committed to enhancing their abilities and compete with other major competitors in the market. The certificate aids in making them stand out from the crowd. Obtaining RMP is a challenging but worthwhile journey that helps applicants advance both personally and professionally.
• Boosting the value of PMP: RMP Certification helps in boosting the value of the PMP Certificate by comprehensive risk management procedures. This knowledge helps professionals to lead and manage project teams. It also helps in producing desired outcomes while staying within your project's budget, timeline, and scope limitations. Professionals acquire the skills necessary to maximize the benefits of project success and reduce the impact of failures.

The PMI-RMP Certification is one of the most prestigious certifications in risk management. Individuals will not only have new ways paved to their career success but will also be recognized as expert risk managers by owning the certification.

The certification empowers individuals to identify the time frame of risk impact as appropriate, large, medium. Professionals undergoing training describe the maximum possible details of the risk effect on the project’s quality, scope, schedule, and cost. Pursuing this certification is worth the knowledge candidates receive regarding risk exposure measurement. Also known as risk score, the measurement value is obtained through the multiplication of the impact rating with risk probability.

Certified professionals ensure that low exposure risks are reviewed later even if initially they are removed from risk mitigation plans. They also help organizations in determining the risk thresholds as per project requirements. This makes it mandatory for project teams to seek stakeholders’ and organization management’s guidance. Such individuals become adept at keeping track of risk triggers and consult stakeholders to minimize the project risk score. They even update the score depending on factors related to the project client.