Posted on : 17 Oct, 2021, 05:24:02 PM

What Is The Difference Between Prince2 and PMP?

What Is The Difference Between Prince2 and PMP?


It becomes stronger responsibility when an individual grows in their career. Especially when it comes to handling and managing projects, they need to have interpersonal and technical skills. There are numerous certification training programs that will assist them in learning about management but choosing the right one between PMP and PRINCE2 certification is very important as well. 

The project management field is a critical profession that involves a deep understanding of process, skills, tools, techniques, and deliverables to project-specific tasks, activities, events, or duties towards completion to ensure the best way to present success by meeting requirements and goals. Wissenhive listed the difference between both the certifications for our apprentices to make them choose quickly on the basis of their project's personality and needs.

What is Prince2?

PRINCE2 full form is PRojects IN Controlled Environment, one of the best practitioner certification programs and structured project management system methods. Prince2 is a process-based approach that emphasizes the various division of projects into controllable and manageable stages. A Prince 2 project refers to a temporary endeavor that is undertaken to produce and carried out collaboratively or individually, involving designs and research to produce a unique solution or product to define the starting and ending with the specific desired result.

What is Project Management?

Project management is the system that helps in performing and implementing multiple methods, processes, skills, experience, and knowledge for achieving the goals of a unique project. Project management processes fall into five terms, and those are

⦁    Initiating
⦁    Preparation and planning
⦁    Executing
⦁    Controlling and monitoring
⦁    Closing or meeting up all the requirement
 

How To Get PRINCE2 and PMP Certification?

A project management professional must be educated about the term project management as they should be capable of reading, preparing, and presenting a report, making proper plans, and understanding new concepts to make practical and well-informed decisions.

PRINCE2

⦁    Basic knowledge of Project Management to apply for the foundation level, but other certification examinations need to be done for practitioner level, such as 

⦁    PRINCE2 Foundation Exam
OR
⦁    PRINCE2 Practitioner examination

⦁    Once apprentices are qualified, they need to attend a professional training certification course to get a voucher for applying for an examination. 

⦁    Foundation level - Take 1 hour to complete 60 objective-type questions to score above 33 to pass the examination.
⦁    Practitioner level - Takes 2 hours 30 minutes to complete 68 objective-type questions to score above 38 to pass the examination. 

PMP

⦁    4 years of degree or equivalent education having either 4500 hours project experience or 7500 hours of secondary degree related to project managing experience 
⦁     Mandatory training of 35 hours
⦁    Online examination after paying the fees
⦁    It takes 4 hours 30 minutes to complete 200 objective-type questions to score above 70 to pass the examination and qualifying for the certification.


Experience plays a crucial role as it shows leadership and managerial skills with the understanding of an individual’s accountability and responsibility. Some required skills are critical thinking, creative mindset, analytical skills, problem-solving skills, creative mindset, leadership skills, accountability, multitasking skills, etc.

 

PRINCE2 Certification Vs. PMP Certification

 

Criteria

PRINCE 2

PMP

 

Accrediting Body

AXELOS, United Kingdom

PMI, United States

Methodology

Based on the 7 principles of Project Management

Based on all the project management aspects

Driven by

Business case of the project

Customer requirements

Training Organization

ATO (Authorized Training Organization)

REP (Registered Education Providers)

Certified Trainers

Required

Not required

Approach

Process-based approach

Knowledge-based approach

Entry Level

Eligibility: All are eligible




 

Certification: Prince2 Foundation

Eligibility: 1500 hours of project management experience and 23 contact hours of training

 

Certification: CAPM (Certified Associate in Project Management)

Expert Level

Eligibility: Project Management experience recommended



 

Certification: Prince2 Practitioner

Eligibility: 4500 to 7500 hours of project management experience and 35 hours of contact training 

 

Certification: PMP (Project management professional)

Core Area

The 7 processes need to be done and to take into account how and when it must be done, by whom and what must be done in the lifecycle of the project.

To manage the project, describing the core practices and a wider range of techniques are involved.

Types

Prescriptive, need to be tailored for the project

Non-Prescriptive, Best practices

Open Book Exam

Yes

No

Entry-level Exam Format

CAPM Exam Format

Entry-level Exam Format

Expert Level Exam Format

Examination: 60 questions, MCQs, passing marks 33 minimum questions should be correctly answered, that is equal to 55%.

 

Certification: Prince2 Foundation

Examination: 150 questions, MCQs, passing marks 105 minimum questions should be correctly answered, that is equal to 55%.

 

Certification: CAPM Exam Format

Validity of Certification

3 years

5 years

Examination and Training Cost 

Member: $150

 

Non-Member: $200

Member: $225

 

Non-Member: $300

 

Are Projects Managers In Demand?

Project management is becoming important day by day for businesses where quality, time, budget, and scope matter a lot. If you are still wondering and confused whether the project management profession is a good career option or not, here are some reasons to make your sight clearer.

⦁    Growing demand for project management experts
⦁    Highest salary compensation for professional
⦁    Great opportunity with an unlimited career option
⦁    Culminating career that required in every industry
⦁    Wide variety of industries such as manufacturing, business services, finance, insurance, construction, utility industries, etc
⦁    Improves interaction capability
⦁    Attention to the details
⦁    Self-improvement chances

What Skills Needed For Project Management?

⦁    Strong understanding of businesses processes and their risk management cases
⦁    Deep knowledge about specific circumstances
⦁    Proven self-management and project management skills
⦁    Strong Critical thinking and leadership quality
⦁    Ability to control and manage budgets
⦁    Good negotiation and communication skills
⦁    Excellent interpersonal, analytical, decision-making skills
⦁    Capability to interpret instructions, maintain schedules, define the situation, data documentation, and concluding.
⦁    Creative mindset, multi-tasking, self-motivation, project management skills
 

Career Options After PRINCE2 and PMP Certification

Project managers are highly demanded in every sector as they should be because planning, managing, and implementing is not an easy task. Let’s find out together some of the popular career paths for project managers, and here are those.

⦁    Team Manager or Team Leads
⦁    Assistant Project Manager
⦁    Business Project Manager
⦁    Project Delivery Manager
⦁    Project Executive
⦁    Project Management Analyst
⦁    Construction Project Manager
⦁    Product Manager
⦁    Service Improvement Manager
⦁    Senior Project Manager
⦁    National Senior EQA Scheme Officer
⦁    Associate Project Manager
⦁    Contract Project Manager
⦁    Implementation Project Manager
⦁    Information Technology Project Manager
⦁    Project Coordinator
⦁    Software Project Manager

Making a career in the project management field is not at all easy. Having a specific skill set, knowledge about essential tools, process management, critical thinking, and so on is an important factor in the project management profession, but there is no doubt that skills like Prince2 and PMP certified in your CV are always a cherry on the top! 
 

Starting a career in the Project Management field without any experience or completing a project management course can create hurdles in an individual's future and career; that’s why Wissenhive provides online project management certification courses with professional trainers so that beginners can step into this industry.

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