Prince2 Vs PMP: Which One Is the Best Project Management Certification?

It’s obvious that if you are in project management field or entering in it, you are always seeking which skills you want to improve your productivity and to learn these skills you have to complete some experience plus some accreditation like (Projects IN Controlled Environments) Prince2 or (Project Management Professional) PMP which are mostly recommended by people and by organizations which can show your excellence or mastery in the project management field.

So which one in better and how to decide which certification is best fit for you. You have to consider all the factors for that decision like your organization requirement, salary prospect, frameworks and your past experience and many more.

So instead of searching biased internet and confusing advises we have done a lot of hard work for you and collected all the data, so keep reading and choose the best for you.

Let’s Explore One by One

 

What is PMP Certification:

The Project Management Institute is known as the PMI organization. Their professional certification is called PMP which stands for Project Management Professional. PMI credentials certify your knowledge and experience in project management so you can be more confident at work and more competitive in the job market.

Project Management Professionals (PMP) are crucial in every type industry. The requirement is in terms of the skill requirements which depends on different industries and geographies. As per 2014 survey report by PMI, there will be high demand for Project management practitioners. As companies wants people from various cultural & professional backgrounds, the need for project managers with a standardized set of skills increases.

The project management is the process of planning, organizing, motivating and controlling resources to achieve objectives.The main challenge of project management is to achieve project goals and objectives while keeping in mind the project scope, time, quality and cost.

What will you learn in PMP Certification Course:

• • • Understand processes and terminology
    • The most up-to-date global practices for PM
    • Manage plan time resources for projects
    • Manage projects in terms of delivery
    • Clear understanding of - specification, deliverable, work breakdown
    • Project Integration Management
    • Project Scope Management
    • Project Time Management
    • Project Cost Management
    • Project Quality Management
    • Project Resource Management
    • Project Communication Management
    • Project Risk Management
    • Project Procurement Management

 

What is the Syllabus for PMP Certification & Exam?

• • Introduction
  • Organizational Influences and Project Life Cycle
  • Project Management Processes
  • Project Integration Management
  • Project Scope Management
  • Project Time Management
  • Project Cost Management
  • Project Quality Management
  • Project Human Resource Management
  • Project Risk Management
  • Project Procurement Management
  • Project Stakeholder Management

 

Pre-requisites for PMP Qualification?

• • Bachelor's degree or global equivalent
  • Minimum three years/36 months unique non-overlapping professional project management experience
  • 4,500 hours spent leading and directing projects
  • 35 contact hours of formal project management education

-OR-

• • High school diploma, associate's degree or global equivalent
  • Minimum five years/60 months unique non-overlapping professional project management experience
  • 7,500 hours spent leading and directing projects
  • 35 contact hours of formal project management education

 

What is PRINCE2 Certification?

PRINCE2 (an acronym for PRojects IN Controlled Environments) is a de facto process-based method for effective project management. Used extensively by the UK Government, PRINCE2 is also widely recognized and used in the private sector, both in the UK and internationally. The PRINCE2 method is in the public domain and offers non-proprietorial best practice guidance on project management.

What You Will Learn in PRINCE2:

• Seven principles of Prince2, processes, and themes in the PRINCE2 guidelines
• How to tailor your approach for different and complex projects, ensuring today’s fast pacing work environment like Agile and Lean.
• How to make product-based approach for projects which is controllable, manageable and measurable.
• How to reduce project risk by controlling the resources.
• The purpose, objectives and context of the PRINCE2® processes.
• Apply skills that complete and complement the knowledge-based approach of the PRINCE2 certification
• The purpose of the PRINCE2 roles, management products.
• The characteristics and context of a project and the benefits of adopting PRINCE2®

 

Syllabus for PRINCE2 Certification & Exam

There are two levels in PRINCE2 Stream:

• PRINCE2 Foundation
• PRINCE2 Practitioner

 

What is Syllabus for PRINCE2 Foundation Certification & Exam?

• Understand key concepts relating to projects and PRINCE2
• Understand how the PRINCE2 principles underpin the PRINCE2 method
• Understand the PRINCE2 themes and how they are applied throughout the project
• Understand the PRINCE2 processes and how they are carried out throughout the project

 

What is Syllabus for PRINCE2 Practitioner Certification & Exam

• Implementing the PRINCE2 principles in the context
• Create and tailor relevant aspects of PRINCE2 themes in the context
• Application relevant aspects of PRINCE2 processes in the context

 

Prerequisite for PRINCE2 Foundation

The PRINCE2 Foundation qualification will teach you the PRINCE2 principles, terminology and when qualified you will be able to act as an informed member of a project management team using the PRINCE2 methodology within a project environment supporting PRINCE2. PRINCE2 Foundation can be studied on its own or as a prerequisite for the PRINCE2 Practitioner course.

Prerequisite PRINCE2 Practitioner

The PRINCE2 Practitioner qualification will teach you to apply PRINCE2 to the running and managing of a project within an environment supporting PRINCE2. Once qualified you will be able to apply and tune PRINCE2 to address the needs and problems of a specific project scenario. You will have a comprehensive knowledge of the relationships between the PRINCE2 principles, themes and processes and PRINCE2 products and will understand these elements. In order to sit the PRINCE2 Practitioner examination you must provide proof of having passed one of the following:

• • PRINCE2 Foundation
  • Project Management Professional (PMP)®
  • Certified Associate in Project Management (CAPM)®
  • IPMA Level A (Certified Projects Director)
  • IPMA Level B® (Certified Senior Project Manager)
  • IPMA Level C® (Certified Project Manager)
  • IPMA Level D® (Certified Project Management Associate)
    
    

Let’s talk about the difference between Prince2 & PMP

First thing first, when you are a step to choosing one you must know this that both certifications provide standard approach and best practices to manage the project successfully, But choosing one of them is dependent upon various and important factors like which industry you have experience in your hand, the future companies you are planning to enter and variety of project you are going to handle directly. Also we know that PMP framework can be implemented in Agile environment. but only can if the manager have the working and experience in that. in other side PRINCE2 have released new stream consisting agile methodologies called PRINCE2 Agile Foundation & Practitioner.

What are the differences between PMP & PRINCE2 processes?

Let’s check out PMP project management framework processes:

• Initiation
• Planning
• Execution
• Control
• Monitoring
• Termination

 

How are PRINCE2 project management framework processes:

Source: Axelos

• • Start-up
  • Direction
  • Initiation
  • Stage control
  • Stage boundary management
  • Planning
  • Product delivery management
  • Closing
    
    

 

What is cost difference between PMP Certification & PRINCE2 Certification?

Cost of PMP Certification:

Training fee for PMP certification is based on various factors like days of training, mode of training, Average cost of the PMP certification training is $100 – $250

PMP Certification Exam cost is $555 or INR 39,856

Cost of PRINCE2 Certification:

Training fee for the PRINCE2 Foundation and Practitioner is based on various factors like days of training, modes of training, Average cost of the PRINCE2 certification training is $100 - $250

PRINCE2 Foundation cost is Euro 480 or INR 38,170 and PRINCE2 Practitioner Cost is Euro 480 or INR 38,170

PRINCE2 Foundation & Practitioner Training and Certification cost you like $630 - $650 or INR 45,000 – INR 47,000

 

What are the other differences in PMP & PRINCE2 [Infographics]?

Conclusion:

The accreditation you choose should depend on your job prospects, On-Going Projects and the region you are working in. PMP is more understanding based or we can say knowledge-based and PRINCE2 is a process-based framework, during learning you will learn lots of things in PMP training like procurement management, vendor management, supplier management and rest but what if your project doesn't need these things then what? that's why  PMP and PRINCE2 are not competing for credentials in all regions. An expert would profit by the abilities and learning that both of these certifications offerings.

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