Updated May 8, 2023
Difference Between PRINCE2 vs PMP
You are quite aware that the vitality or value of certification programs has recently increased, specifically in the IT industry. However, many students aspiring to serve the IT sector need clarification regarding the appropriate choice of course. When you search on the internet, you will come across several certifications. Therefore, it is important to have extensive knowledge of these courses and then choose one which is best for your career. The following article concentrates on the two most important project management certifications; PMP and Prince2. To simplify the process of choosing between them, you need to be familiar with their differences.
Comparing Project Management Professional and Prince2, the basic difference lies in their techniques and approach to completing any project. Both have pros and cons. Therefore, it is important to choose carefully. The reputation of the company and the type of project you are involved in significantly affect the outcome. However, both are equivalent in value and can help take your career forward.
Project Management Professional (PMP) Certification
Of the various project management courses, PMP is one of the highly preferred certificates for establishing your career as a project manager. The Project Management Institute (PMI) offers this valuable certification. By availing of this certificate, you get comprehensive knowledge about tackling and managing a project professionally and effectively, producing optimum results. Project management professionals often consider the PMP certification as a comprehensive source of knowledge, often referred to as the encyclopedia of project management. Although PMI is headquartered in Texas, USA, the course is widely conducted in other continents, including Europe and Asia. Indeed, you can apply your knowledge and experience in whichever industry you work in.
Certificates offered by the PMI
The Project Management Institute (PMI), the apex body offering the PMP certification has introduced a number of programs to enhance the career prospects of the candidates. However, before enrolling in any of them, you must acquaint yourself with the specific requisites, especially the examinations; you must qualify in the process. These globally recognized certificates will help you attain the best-paying jobs as a project manager. You must prepare exceedingly well to pass the exam with a good percentage. Some essential credentials besides PMP include the following-
- Agile Project Management Practitioner Certification offered by PMI has a different curriculum and a different set of exams.
- Program Management Professional whose responsibility is to manage a program.
- Project Management Institute (PMI) Scheduling Professional
- Portfolio Management Professional
- OPM3 Professional Certification
- Certified Associate in Project Management (CAPM), the junior level of PMP.
- Risk Management Professional again offered by PMI.
Project IN Controlled Environment (Prince2) Certification
The Project IN Controlled Environment Certificate is a program that usually focuses on technique-related project management. Here you learn about a systematic approach and ways to complete a successful project. Earlier, the UK’s cabinet office was supposed to be the certification owner, but it is currently owned by AXELOS. It is a new joint venture company. While perusing this certification, you will learn about several topics, such as MSP program management, portfolio, and risk management, value and IT service management, and more.
They have readily categorized the Prince2 Certification into three levels of difficulty based on their complexity. It includes-
- Prince2 Professional is regarded as the hardest of all.
- Project management professionals consider the Prince2 Practitioner as the most crucial of all the levels.
- Prince2 Foundation, which is a very simple course
Out of the three, the Foundation and the Practitioner levels are the most important and popular among the candidates. However, if you are willing to clear the examination, you need to emphasize the officially published document ‘Managing Successful Projects with PRINCE2.’
One of the advantages of choosing this certificate course for your career is that you become quite capable of executing any project with great ease as you develop knowledge of project management principles. Secondly, it offers a model approach. Here each team member is familiar with their job responsibility and how to cater to it professionally. The planning is done systematically, and every task is done step by step. Yet another benefit of Prince2 certification is that it highlights both projects as well as a processes.
The High Points of Prince2
- First of all, it is a very elaborate and descriptive program. It primarily touches on all the important aspects of the project management process, including its associated problems. This will help you strategize your plans more skilfully, considering all the vital factors.
- Secondly, it gives due importance to the particular techniques adopted for completing the project. The approach is quite clear right from the beginning of the task. This enables you to save ample time and resources.
- There is always a scope for a higher salary if you have gained experience in this field. However, the pay is less than what PMP managers get, but still, you can be sure of getting a lucrative income.
Now let us make a comparative study between Project Management Professional and Prince2 based on the following parameters.
#1. Industry Needs and Area Distribution
We know that both PMP and Prince2 Project Management Certification have gained a reputation worldwide, but there are certain countries where one is preferred over the other. If one talks about PMP is given priority in the United States and other American countries. On the other hand, Prince2 is more popular in the UK, Australia, and other countries of the European continent. Asia, Africa, and the Middle East are equally important to PMP and Prince2. Therefore, there is almost an equivalent distribution among the various areas regarding the first certification choice.
#2. Higher Pay: PMP or Prince2?
Any candidate, who enrolls for a professional course or a certification, does so to get higher pay. Choosing a certificate course often considers it as one of the vital factors. If one has to compare PMP and Prince2 based on better salary prospects, then PMP surpasses the Prince2 certification. In the United States, a PMP certificate holder gets an average payment of $105,000 per annum, whereas Prince2, quite popular in the UK, offers an annual pay of £ 50,000, which, if converted to US dollars, will figure around $77,500. Moreover, according to a report, the PMP salary will hike shortly. A survey has also stated that PMP managers earn more in primarily based industries such as agriculture and mining. The same study also found that the highest pay scale of a Prince2 Project Manger was around $45,000.
#3. Disparity between PMBOK Guide and Prince2
Both are quite dissimilar to each other. While the former focuses more on the perspective aspects of knowledge, the last resorts to a more vivid technique. When you sit down to prepare for the questions, you will encounter more ‘W’ based questions (when, whom, what, etc.) in Prince2. However, if one talks about PMBOK Guide, one will encounter more How questions. Now the question arises, which is better? Well, the answer is both certifications.
However, if you want to know more, you can refer to the PMBOK Guide and the Prince2 to make out the differences. The technique or approach for completing the project has to be chosen by you. Do not think that PMP and Prince2 are pitching against one another, but you will need both to implement your project framework.
Based on the discussions so far, both Project Management Professional, as well as Prince2 is going to shoulder each other. Therefore, it becomes necessary to compare these two based on their advantages. First, let’s analyze the benefits of PMP certification.
- Firstly, PMP certifications make you an eligible candidate who can expect flourishing pay on the completion of the course.
- Your professional skills and deep knowledge will help you undertake and manage the projects more efficiently.
- By enrolling for PMP, you become a member of PMI. It facilitates you to join a vast global network of professionals. The links are fruitful, specifically if you work as a freelance project manager. You can obtain more projects with their contact.
- Since PMP certifications are globally recognized, the big giants will give you a preference over others when you have the certificate.
- You will not only be given priority in offering the job, but your colleagues and your seniors will give importance to your suggestions and advice while doing a project.
#5. Examination Format
The exams are the most crucial and indispensable part of obtaining a PMP or the Prince2 Certification. The basic difference between the two exam formats is that while PMP tests your knowledge of project management, Prince2 will examine the methodologies of project management. You are required to answer about 200 Multiple Choice Questions in four hours when attempting PMP and secure 62 percent marks to qualify for the exams. Here questions will be related to planning, implementation, and controlling the project. Apart from these, there will be some other topics as well that are directly associated with project management, such as quality, materials, risk management, etc.
For a candidate perusing Prince2, there are many levels of certification testing. The examination of the Foundation and the Practitioner levels are different. You must attend about 75 MCQs, and the allotted time is one hour. The person has to answer nine questions at the practitioner level in about 150 minutes. The passing percentage is 50 in the foundation and 55 in practitioner-level exams.
#6. Criteria for Appearing in the Exam
If you are applying for a PMP certificate examination, you must fulfill several perquisites before registering yourself at PMI. You should have at least cleared the intermediate exam from any high school or should be a graduate. You need to have experience directing projects and obtain project management education. However, the number of specific hours in both cases will surely depend upon your academic degree, whether you are a high school pass or a graduate.
But no such hard and fast rule exists for appearing in a Prince2 certification exam. Prince2 Foundation does not require you to satisfy any criterion, but if you are applying for the Practitioner level, you must possess a Prince2 Foundation level certificate.
The registration procedure for the PMP exam is very simple. After paying the fee, you must log on to the PMI training center and register online. However, be cautious while registering for the Prince2 exam, as you cannot do so directly at AXELOS. Different training centers charge differently for offering their services. So, the choice should be made attentively.
#7. Examination Fee
Now it’s time to compare the exam fee you must deposit to appear in it. The exam fee of PMP is different for members and non-members. The non-members need to pay $555, while members pay $405. So, if you want to become a member of PMI, then the membership fee is around $100.
On the other hand, the cost of Prince2 may be different. It largely depends on the test center you opt for to appear in the exam. For the Foundation level, you need to deposit $365; for the Practitioner level, it is $485.
#8. Renewal of your Certificate
Comparing PMP and Prince2 Certifications based on this point, you will find that Prince2 is more flexible as the candidates do not need to renew their certificates. But the practitioner-level certification is valid for five years.
As far as PMP is concerned, the candidate should have about sixty Professional Development Units (PDUs) after alternative three years.
So, the choice is yours when picking a certification program between PMP and Prince2. Both have good career prospects and will help in shaping your bright future. However, the selection should be made only after considering all the vital factors.
This is a guide to PRINCE2 vs PMP Certification. Here we have discussed the basic concept and a comparative study between Project Management Professional and Prince2 based on the following parameters. You may look at the following articles to learn more –