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PRINCE2 Vs PMP. Which is right choice for you?

prince2vspmp

PRINCE2® and PMP® (PMI- PMBok) are two of the popular project management frameworks adopted across the world for project management practice. PRINCE2® takes different approach than PMI-PMBoK but both aims is to improve the project performance and eventually success rate.

Becoming a certified project manager would add a great value to your career, not only upgrades your skills to improve project performance but also enhances your career prospects.

But, which one to choose – PRINCE2 vs PMP?

prince2-sample2
  pmp-sample-cert

Let us  see the comparison between PRINCE2® and PMP®

PRINCE2® PMP® (PMI-PMBOK )
PRINCE2 Owner is  AXELOS®, United Kingdom. PMP® Administered by PMI, United States.
A process-based project management methodology, explains “what should you do” to manage successful projects A knowledge-based approach to project management, explains “what should you know” to enable you to manage project with good practices.
Prescriptive framework – captures best practice and tells you what to do. Focuses on Processes for starting, controlled execution and closing of projects. Descriptive framework –  explains the knowledge areas, such as risk, time management etc., in detail with good practices
Integrated set of process and themes, which can’t be used in isolation. Also mandatory 7 principles which should be  followed. Each topic/knowledge area can be referred in isolation, kind of plug and play model.
All the project roles are clearly defined Mostly focuses on project manager’s role
PRINCE2® unique concept of “Tailoring Approach” to adapt to project, enables the framework to be highly scalable and flexible As PMP® focused on knowledge areas, doesn’t offer such flexibility
PRINCE2 has two levels of certification:
  1. PRINCE2® Foundation : No prerequisite for PRINCE2® Foundation Level
  2. PRINCE2® Practitioner: Foundation level is prerequisite for Practitioner. No Mandatory relevant work experience required.

PMP® has prerequisites

  1. Four-year degree and atleast 3 years of project experience with 4500 hours of leading a project along with 35 hours of contact hours training from an REP.

or

  1. A secondary degree  and atleast 5 years of project experience with 7,500 hours of leading a project  along with 35 hours of contact hours training in project management from an REP.

Cost of the PRINCE2 for Foundation and Practitioner together along with Training would be between $1200 and $2000Cost of PMP® Exam along with PMI membership is $555/- and Training cost varies between $800 and $1200/-4-5 day intensive classroom training and 40 hours of self study is required. Usually candidate can plan good 3 weeks to 30 days time for completing PRINCE24 Day intensive training followed by 100 hours of self study will get you ready for PMP exam. Usually table about 45 days.Once in every 5 years, candidate needs to take re-test (re-registration exam) to renew PRINCE2 practitioner license.Over 3 year cycle period, candidate should earn 60 PDUs (Professional Development Units) to renew the certification. No renewal exam needed.PRINCE2® Training Organization must be licensed under AXELOS as Accredited Training Organization (ATO).PMP training organizations must be licensed as Registered Education Partner (R.E.P).Trainers must be accredited by AXELOS through an independent competency assessment.Trainer’s competency to deliver training is not assessed.

The choice of PRINCE2 vs PMP from career perspective may be based on Geographical region, in which  your company or your client is operating.

PMP® (Project Management Professional) is based on PMI – PMBOK, is popular worldwide, and is the leading project management approach in North America.  PMP® is also popular in countries such as Australia, Switzerland, Canada, New Zealand, Germany, UAE, Singapore, India, China  etc., [1]

PRINCE2® (Project IN Controlled Environment) is process based project management methodology is popular worldwide, and is the de facto standard for project management in UK and most part of Europe. PRINCE2® is also popular in countries such Australia, Netherlands, Denmark,  UAE, South Africa,  India, China  etc.,[1]

In Asia Pacific region specifically in India, the popularity PRINCE2® went up by 86% from 2012-14 [2]. This rise in popularity can be attributed to increase in outsourcing business from UK and European countries. PRINCE2® being de facto standard in UK and Europe, PRINCE2® certification is gaining popularity in India.

Finally, PMBoK and PRINCE2 are not competitors, as you may think , but they complement each other. PMBoK describes how to do with collection of good practices, techniques and interpersonal skills and PRINCE2® is the well structured process based methodology with strong processes, clear definition of all project roles, governance etc., Using PMBoK and PRINCE® together as complimentary framework, you can leverage the advantages of two most respected  project management approaches in the world.

I wish you all the best in your project management career.  if you have any specific query regarding this, please drop me an email at ashok@skillogic.com .

Take a look  at the salary ranges for PRINCE2®  and PMP® certified professionals

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references:

[1] Google trends www.google.com/trends

[2] Data collected from ATO(Accredited Traning Organisation) reports from AXELOS®

Visit Skillogic Knowledge Solutions for Prince2, ITIL and PMP certification training in Bangalore, Chennai, Hyderabad, Mumbai, Pune and many more cities in India.

Disclaimer

  • Copyright © Skillogic Consulting Solutions Pvt Ltd and AXELOS Limited 2013. All rights reserved.
  • PRINCE2® is a registered trade mark of AXELOS Limited
  • The Swirl logo™ is a trade mark of AXELOS Limited
  •  No part of this article may be reproduced in any form without the written permission of both Skillogic  and AXELOS Limited.

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About Ashok A

Ashok A
Ashok has 12+ years of experience in project management. Managed large scale European union projects as Project/Program manager based in Netherlands. Currently working as consultant with Skillogic.com. MBA from Univ. of Amsterdam, The Netherlands. and IIM Ahmedabad, India. Linkedin Profile

7 comments

  1. Very useful information about both certifications.
    Thanks.

  2. Rajesh Mohapatra

    I find both the courses are very confusing in its initial sates while PRINCE2 has administration of AXELOS and PMP institutes has its own rights to give qualification certificates. The above narration sites a good tooth comb differentiating between both the courses.

  3. Glad you find it useful. If you are looking for more specific recommendation, you can contact Skillogic India team at 740 660 900. They will contact you to our subject matter experts.

  4. The answer depends on the reason why you want to do a professional course? If you are seeking for job in US or UK these two courses can help you out in your career. As in the above it can be figure out that PMP gives you a boarder sense while prince2 is more specific and focused.

  5. Hello Experts,

    Need a valuable suggestion here – I have 7 years of experience in Telecom Industry and already worked with some major companies like Ericsson, Nokia and others . Presently working in the Technical domain but I want to move my career slowly to process/project management . What are the chances in the industry and by doing Prince2 will help me in achieving this?

  6. Hi Rajib – Project management certification serves as testimony for your competence and surely, gets you the attention. I suggest to slowly get hands on experience in project management, coordination, planning actives so that you appreciate PRINCE2 / PMP best practices in delivering successful projects. Moving to project management is not a flip decision but rather a smooth transition. You can surely get into project management with small steps towards project management activities backed up by global certification.

  7. Hi Ashok,

    I am Supply Chain Professional and looking forward to Project Management Certification. I am confused between Prince 2 or PMI.
    Needs suggestion :
    As a Logistic and Supply chain professional which one should I opt for?
    Thanks in advance.

    Regards,
    Vishal.

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