PMI RMP Certification Costs in 2023.

VALUE

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WORTHWHILE

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How much does RMP Certification cost in 2023?

Any project in the current market is susceptible to one or more risks that might thwart its implementation at any time. Therefore, in order to reduce risk in the projects, every firm needs RMP Certified individuals. These professionals have more knowledge about risk management and can efficiently manage hazards in the projects. They also possess specialized skills in how to communicate and use risk management guidelines and tools.

If you are one among the many professionals considering earning a PMI RMP Certification. Then, before you start preparing for the Risk Management Professional Certification Exam, you should be aware of the related fees. Here is a breakdown of the RMP Certification costs that candidates incur during the certification procedure.

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 candidatesโ€™ 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.

Exam type Membership type Cost(USD)
Computer-based-testing (CBT) Member USD 520
Computer-based-testing (CBT) Non-member USD 670

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.

Exam type Membership type Cost(USD)
Computer-based-testing (CBT) Member USD 335
Computer-based-testing (CBT) Non-member USD 435

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.

Yes, candidates have the opportunity to take RMP Exam up to three times a year. They have to pay USD 335 (PMI members) and USD 445 (non-members).

Yes, it is not compulsory for RMP aspirants to become PMI members to appear for exams. However, becoming a PMI member brings lots of advantages including saving in certification costs and free access to PMBOK.

Individuals can refer to the RMP handbook to gain information about RMP Certification costs. Handbook also helps them in gaining information related to exam content.

Apart from exam fees and training costs, RMP aspirants should incur resource costs, membership costs, and certification renewal costs.

PMI accepts credit card and wire transfer payment methods for RMP Certification.

Yes, RMP Training is essential to be eligible to appear for the exam. It also helps candidates in obtaining more knowledge about risk management. Furthermore, it aids in gaining hands-on experience in risk management tools and techniques.

Once candidatesโ€™ application has been accepted by PMI, they must pay their examination fees before they schedule their RMP Exam.

Being a PMI member enables RMP aspirants to save on the cost of certifications, have access to PMI publications, tools, and templates, and receive free opportunities to earn PDUs.

Regional and membership pricing regulations govern the costs for acquiring the PMI-RMP Certification.

PMI accepts payments for RMP Certificate in USD, EUR, BRL, and INR currencies.
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