PRINCE2 vs. PMP: Choosing the Best Certification

Project Management certifications continue popularity and are sought after, especially during these times. 

We often receive questions about the differences and what to certify in. Time to clarify this hot topic!

PRINCE2 vs. PMP: Choosing the Best Certification

If you are in the Project Management field, or if you have always wanted to immerse yourself in this thriving discipline, you have probably wondered about what steps you need to take to get certified to advance your career. Both the Project Management Professional (PMP®) and PRINCE2® certifications are highly reputed in the field and can validate for employers your understanding of key project management concepts and how to apply them throughout the project management lifecycle.

The question is: which certification is right for you?

This article offers an overview of PRINCE2® Vs PMP® certifications, important benefits, and job prospects for each one. Read on to make the right choice!

What is the Key Difference Between PRINCE2 Vs PMP?

Fundamentally, the PRINCE2® and PMP® Certification involve two different project management frameworks. Both offer a body of knowledge and a proven approach to managing projects effectively. Picking one over the other is a decision that involves several factors. The ideal choice should be based on the industry or company you are aiming to build a career in, and the type of project you are planning to lead or direct. Both certification programs are of equal value, albeit in different aspects of project management.

Similarities between PRINCE2 and PMP

• Both cover project management activities or processes.
• Both are globally recognized project management qualifications.
• Both have starter and practitioner level qualifications. [e.g CAPM & PMP, Foundation & Practitioner].
• Both are accepted in Nigeria [this is proven by Job adverts]
• What PMP calls “Knowledge Area” is what PRINCE2 calls “Themes”
• Both cover the ISO 21500.

The key differences between the two certifications are:

• PMP originates from the US / PRINCE2 Originates from the UK
• PMP coordinated by PMI / PRINCE2 Coordinated by AXELOS
• PMP is like a dictionary / PRINCE2 is more like a recipe book
• PMP verifies your experience of the “generally-accepted" best practices and principles of project management. / PRINCE2 is a broad, general framework of project management principles, which means it is recommended and can be implemented on just about any type of project.
• PMP is standard based / PRINCE2 is Principled based -It deals with step-by-step processes and has a well-laid out and structured approach to project management in terms of directing, management and delivery.
• PMP focuses more on what you need to know / PRINCE2 focuses on how to go about it or how to do it.
• PMP does not spell out roles and responsibilities of the team members in details / PRINCE2 spells out the roles and responsibilities of each member of the team tasked with managing the project.
• PMP gives the list of documents to be used during the project management process but does not tell us how they should be structured or even give the format/template to be used. / PRINCE2 gives the list of documents to be used during the project management process and also explains how the format and template should be like and how to quality check each one of them.
• PMP talks about professional ethics PRINCE2 talks about principles. / PMP deals more on procurement and project management techniques e.g. critical path method and earned value management.
• PRINCE2 deals more on Project organizational structure. / PMP deals more on theoretical aspects. PRINCE2 deals more on the practical aspect

The Project Management Professional (PMP) Certification

One of the most highly regarded certifications in the world for project managers, the PMP® or Project Management Professional Certification is a qualification program that is offered by the Project Management Institute (PMI®). Various industries use PMP® as a standard requirement for project managers. Becoming a PMP® empowers you to work with any methodology and in any industry. The certification course covers a wide spectrum of project management techniques and competencies that are necessary for any project manager and can help increase your earning potential. This course, administered by PMI in the USA, has also gained popularity in Europe and Asia.

The PMP Qualification

• Is indicative of your proficiency in using the PMBOK® Guide, the Project Management Book of Knowledge.
• Verifies your knowledge of "generally-accepted" best practices and principles of project management.

The Projects in Controlled Environments (PRINCE2) Certification

The PRINCE2®, or ‘Projects IN Controlled Environments' certification, is a process-based project management method that offers a systematic approach to delivering a successful project with clear templates, processes, and steps. The certification is both process and project focused. PRINCE2® is administered by Peoplecert and owned by AXELOS.

The PRINCE2 Qualification

• Is a broad, high-level, general framework of project management principles, which means it is recommended for and can be implemented on just about any project.
• Has a well-laid out and standardized approach to project management.
• Spells out the roles and responsibilities of each member of the team tasked with managing the project.
• Divides the master project plan into project plans, stage plans, and team plans, which eliminates ambiguity and makes it easier to execute the project.
• It is both project and process focused.

Industry Demand

If you wish to get one of these certifications, it is important that you do your research before you begin to walk down one path vs. the other. Each certification is in higher demand in specific geographies, so you need to determine which of the two certifications will boost your employability. Also, several industry sectors prefer PRINCE2® certification, while others prefer the PMP® certification.

The PMP® certification is preferred in the USA, Canada, Middle East, and Australia. PRINCE2®, however, is recognized in the UK, Europe, Asia, and Australia.

PRINCE2 Vs. PMP: Salary Prospects

Several studies and surveys show that certified professionals in project management earn much more than their non-certified peers. Having a project management certification, especially ones like PRINCE2® and PMP®, signifies that an individual knows and understands the universal language of project management. The PMI Project Management Salary Survey – Tenth Edition, states that the salaries of project managers around the world continue to climb. Certified Project Managers earn an average of 20% more than their non-certified peers.

Benefits of Getting a PRINCE2 Vs. PMP Certification

Benefits of Getting the PMP Certification Include:

• Certified PMP® professionals get more significant and more frequent pay raises than their non-certified peers.
• Networking Opportunities: To obtain a PMP® certification, it is recommended that you become a member of PMI. Once you are a member, you have access to a vast network of professionals with similar qualifications. These contacts can prove crucial in helping you land a project management job.
• Better Employment Prospects: As the world's most popular project management certification, the PMP® credential is recognized and trusted by employers worldwide.

Benefits of Getting the PRINCE2 Certification Include

• Exhaustive Body of Knowledge: The PRINCE2® body of knowledge equips credential-holders with the tools to analyze a project from all angles, ensuring its viability before it is initiated. Factors like user requirements and potential risks are taken into consideration, ensuring that a project that is bound to encounter hurdles is addressed in the planning stages.
• Well Laid-out Methodology: A lot of time and resources are saved during the completion of a unique project since the certification has a clearly laid out methodology.
• Standardization: Confusion in project execution is eliminated since the same, standard approach is used throughout, with conventional filing systems, procedures, and documents.
• Improved Salary and Better Employability Prospects: There is a higher chance of landing a better job that pays well in countries like the United Kingdom. Your employer is provided with enough justification for your skills to give you a pay raise.
• Driven by Business Case: PRINCE2® requires users to self-assess and provide updates on business cases at defined points to ensure that a project will deliver value to the organization and its customers. Failure to do so will eliminate the justification for the continuity of the project.

The PRINCE2 Vs. PMP Exams

With a total of 200 questions, the PMP® exam lasts four hours and is split into the areas of Project Initiation, Project Planning, Project Execution, Monitoring and Controlling, and Project Closing. Within these five larger domains are a multitude of other skills like risk identification, quality management, change management, materials management, and much more.

The PMP® exam needs to be ordered and booked via PMI. The exams are normally not a part of the training courses.

The PRINCE2® Foundation exam tests the individual with 60 multiple-choice questions for 60 minutes. Candidates need to score 55% to pass this exam.

The PRINCE2® Practitioner exam is an objective, scenario-based exam. The individual is tested based on 68 multiple-choice questions with a time limit of 2.5 hours. Candidates need to score 55% to pass this exam. The Foundation certificate is pre-requisite.

Both exams can be done paper based or online.

Is It Advisable to Do Both?

Many people view the PRINCE2® and PMP® certifications as different, which is why there is a battle between the two certifications.

PMP® is related to the knowledge and skills necessary to successfully manage a project and its delivery.

PRINCE2® is focused mainly on the processes and the framework to execute specific types of projects in controlled environments successfully.

Therefore, it is advisable that you do both certifications as it helps in the development of the professional's excellent project management skills.

There may be a few drawbacks to this:

• Conflicting language: The two courses use different terminologies, which can be confusing at first. For example, project charter in PMP® is what is known as project brief in PRINCE2®.
• Different Techniques: Some techniques differ vastly, such as the categorization of risk.

Conclusion

The certification you choose should depend on your job prospects and the region you are working in. PMP® and PRINCE2® are not competing for credentials in all regions. A professional would benefit from the skills and knowledge that both certifications offer.

Adding Value Consulting (AVC) offers both PMP and PRINCE2 as class room and eLearning training courses. We offer more than 50 different certifications.

Adding Value Consulting (AVC) AB

T: 0046 (0)8 662 1589 / Email: info@addingvalue.se - Website: www.addingvalue.nu

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