Last updated 07/01/2020
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
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 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.
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.
There are two levels in PRINCE2 Stream:
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.
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:
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?
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
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.
Manish has more than 13 yrs of experience in IT Industry and has worked as ITIL Head with expertise in the areas like Enterprise IT Transformation, ITSM, SIAM, Blockchain.