Costs, renewal and choosing a route

Certification is an investment of money and time, and PRINCE2 certificates now need renewing. This lesson explains what goes into the cost of PRINCE2 certification, how to compare routes, how PeopleCert's three-year renewal policy works and how to judge whether certification is worth it for you. Prices and policies change often and vary by country and provider, so treat every figure here as an illustration of the reasoning, and confirm current prices and rules with PeopleCert and your chosen provider before you commit.

What certification costs

The total cost of PRINCE2 certification has several parts:

• Exam fees: the price of the Foundation and Practitioner exams, bought directly or as part of a course.
• Training: accredited courses, e-learning or self-study materials.
• The official manual: required in printed form for the open-book Practitioner exam; a digital copy is often included with exam purchases.
• Retake insurance: an optional add-on that reduces the cost of a resit.
• Membership: PeopleCert Plus, if you choose to renew through CPD.
• Your time: study hours and any time away from work, which often matter more than the fees.

Canadian candidates typically see PRINCE2 prices quoted in Canadian dollars by resellers, although some exam fees are set in other currencies and converted. At the time of writing, market prices suggested very roughly C$600 to C$900 for a Foundation exam alone, C$1,500 to C$2,500 for accredited Foundation training with an exam, and C$3,000 to C$4,500 for a combined Foundation and Practitioner course with both exams, with live virtual courses usually cheaper than classroom ones. These ranges are illustrative only; prices vary widely between providers, and sales are common. Remember to add GST or HST where it applies.

Retake insurance and failing well

Many providers offer retake insurance, often under the name Take2, which allows a resit at little or no extra cost within a set period if you fail. Whether it is worth buying depends on its price and your chance of failing. A quick expected-value calculation helps.

How renewal works

Under PeopleCert's current policy, PRINCE2 certifications need to be renewed every three years from the original certification date. The policy covers PRINCE2 Project Management (fifth, sixth and seventh editions), PRINCE2 Agile and the other PRINCE2 family products. There are three ways to renew:

• Join PeopleCert Plus and log CPD points: at the time of writing, 20 CPD points a year over three consecutive years, 60 in total, earned through everyday professional activities such as training, reading, mentoring, conferences and work-based learning. No exam is needed.
• Pass another certification in the same product suite before your renewal date. One new certification renews all your certifications in that suite.
• Re-sit the same exam, which renews that certification and resets its renewal date.

If you do nothing, your certifications stay on PeopleCert's register and verification service, but they are marked as outdated and needing renewal. Employers checking the register will see that.

Because policies can change, note your renewal date in your calendar now and check PeopleCert's current rules a year before it arrives.

Is certification worth it?

Certification is worth it when it opens doors, improves your work or both. Evidence about salary premiums for PRINCE2 is mixed and usually comes from surveys run by training companies, which have an interest in the results and cannot separate the effect of the certificate from the experience and commitment of people who earn it. A more useful approach is to estimate your own costs and plausible benefits, and to treat the result as a rough guide rather than a forecast.

Employer funding and tax

Many employers pay for PRINCE2 training and exams, especially when the organization uses the method or bids for contracts that require it. Ask early, because training budgets are often allocated at the start of a financial year, and check whether the employer requires you to repay costs if you leave within a certain period.

In Canada, employer-paid training that mainly benefits the employer is generally not a taxable benefit to the employee. If you pay yourself, tax relief is limited: the federal tuition tax credit and the Canada Training Credit apply only to eligible fees paid to qualifying educational institutions or for certain occupational skills courses, so many commercial PRINCE2 courses and exams will not qualify. Check the Canada Revenue Agency's current rules and keep receipts.

Logging CPD that counts

If you choose the CPD route, plan activities that genuinely develop you rather than simply collecting points. Under PeopleCert's scheme, CPD can come from many everyday professional activities, such as attending training or webinars, reading books and articles on project management, mentoring colleagues, presenting at events, studying for other qualifications and learning on the job. Keep brief notes of what you did, when, how long it took and what you learned, because a short reflection is more useful to you and more convincing if your record is ever reviewed. Spreading activities across the year avoids a rush before each annual deadline.

Choosing between renewal routes

Which renewal route is best depends on your plans. If you intend to add PRINCE2 Agile or a programme management certification anyway, passing it before your renewal date renews everything in the suite and adds a new credential, which is often the most efficient choice. If you have no further exam planned but stay active in project management, CPD through PeopleCert Plus fits naturally around your work, though it requires paid membership and steady logging over three years. Re-sitting the same exam is the least attractive option for most people, because it costs an exam fee and adds no new credential, but it can make sense if your knowledge has lapsed and you want a structured refresher.

Whatever route you choose, keep copies of every certificate, receipt and CPD record in one place.