:

Comparison of PMP® and PRINCE2® Certifications

PMP and PRINCE2 both are project management certification globally recognized and highly valued.

According to the statistics report by WRIKE,

“80 percent of high-performing projects are led by a certified project manager”.

PMP- Project Management Professional (PMP®) certification is an industry-recognized credential offered by the Project Management Institute (PMI®). The PMP certification validates the experience, knowledge, expertise, capability, competency and required skills to lead and manage projects. PMP certification is the most recognized and sought after project management certification.

PRINCE2 is an acronym for PRojects IN Controlled Environments and the "2" refers to its relaunch in October 1996. It is the non-proprietary process-based project management methodology and owned by AXELOS. PRINCE2 is mainly focused to establish,

• Control at the commencement.
• Progression of the project.
• Termination of projects.

In the UK, PRINCE2® (Projects in Controlled Environments) is considered the de facto standard for IT project management. PRINCE2 doesn’t define the project as a temporary endeavor, rather as a project management method it delivers based on a business case.

PRINCE2 is a certification program owned by AXELOS and this method is sustained by a scheme that offers four levels of certification:

• PRINCE2 Foundation
• PRINCE2 Practitioner
•  PRINCE2 Agile Foundation
•  PRINCE2 Agile Practitioner.

Eligibility Criteria

The eligibility criteria for PMP examination:

PRINCE2:

There is no formal prerequisite to take up PRINCE2  Foundation Certification and PRINCE2 Agile Foundation Certification.  PRINCE2 Foundation certificate can be a prerequisite to the PRINCE2 Practitioner course.

Methodology Used:

PMP:

PMP methodology is based on A Guide to the Project Management Body of Knowledge (PMBOK® Guide) 6th Edition published by PMI. It includes 5 processes of project management:

• Initiating
• Panning
• Executing
• Monitoring and controlling
• Closing

PRINCE2:

The PRINCE2 method comprises four integrated elements of principles, themes, processes, and the project environment.

7 Processes of PRINCE2

• Starting up a project.
• Directing a project.
•  Initiating a project.
• Controlling a stage.
• Managing product delivery.
•  Managing a stage boundary.
• Closing a project.

Target Audience:

PMP:

The target audience for PMP Certification:

• Project Manager
• Project Coordinators,
• Supervisor for PMO
• Team Manager
• Team Leader

PRINCE2:

The target audience for PRINCE2 Certification:

• Project Managers
• Team Leaders
• Business Analyst

Exam Format:

PMP exam:

There is no passing score for the PMP exam. Evaluation is based on the difficulty level of the exam.

PRINCE2 exam:

PRINCE2 Foundation exam:

Questions: 60 Multiple Choice Questions

Duration: 60 minutes

Qualifying points: 33 out of 60 (55%)

PRINCE2 Practitioner exam:

Questions: 68 Multiple Choice Questions

Duration: 150 minutes

Qualifying points: 38 out of 68 (55%)

Benefits:

Benefits of PMP:

• Expand the scope of your career and increase your salary
• Showcase your proficiency in Project Management with a global certification
• A PMP Credential Expands Your Market Reach and Scope
•  Explore More Job Opportunities
• Get opportunities for spearheading challenging projects
• PMPs adopt enhanced Project Management skills and demonstrate superior project performance
• A PMP credential is a means to recession-proof your career

Benefits of PRINCE2 :

• PRINCE2 is a globally recognized certification that validates your knowledge of techniques of project management.
• PRINCE2 provides step by step guidance to manage the project and delivers confidence for internal and external stakeholders.
• It broadly focuses on techniques related to project management.
• Enables you to execute any kind of project with great ease.
• Highlights on both project and process.
• PRINCE2 helps you to strategize your plans more skillfully.
• It enables you to solve the problems associated with the project more effectively.
• Enhance your project management skills.
• PRINCE2 enables you to control resources and risks effectively.

Demand for PMP and PRINCE2

PMP:

The earning potential increases with experience and progress of knowledge. According to Earning Power: Project Management Salary Survey, 10th Edition, certified PMP professionals earn a 23% higher salary on average across 37 countries surveyed.

According to PMI, Project Management Job Growth and Talent Gap 2017–2027)

By 2027, employers will need 87.7 million individuals working in project management-oriented roles.

The average annual salary of PMP Certified professionals is,

PRINCE2:

PRINCE2 certification proves to be an asset as it accelerates your career in the field of project management.

A 2016 AXELOS survey questioned individuals in project management and other roles, such as IT, senior management and operations. They reported that "regardless of function, candidates do find that PRINCE2 is valuable to their career".

According to Payscale.com,

The average annual salaries for certified PRINCE2 professionals in the United States are shown below.

Currency: USD, Updated: Mon Nov 11 2019

RECOMMENDED POST:

What is PMP?

Key Features of PMP® Certification Training

Top 10 Reasons to Get PMP® Certified

How To Qualify PM Experience In PMP Application Form

The Step By Step Procedure To Fill The Application Form

Do visit our Corporate Training to know more about core offerings for enterprises in empowering their workforce.

Download Free PMP® Exam Practice Test with 200 PMP® Questions.

Full-length PMP sample test with 200 PMP exam prep questions.

You may also be interested in Sample PMP® Exam Prep Questions before you download the Free PMP® Practice Test.

Download our Free PMP Brochure for more information.

iCert Global conducts Project Management, Quality Management, Business Analysis, Agile, Scrum, and DevOps Certification courses across various locations in the United States.

Visit us at https://www.icertglobal.com/ for more information about our professional certification training courses or Call Now! on +1-713-287-1213 / +1-713-287-1214 or e-mail us at info {at} icertglobal {dot} com.

Project Management Training by iCert Global:

- PMP Certification Training

- CAPM Certification Training

Quality Management Training by iCert Global:

- Lean Six Sigma Yellow Belt (LSSYB) Certification Training Courses

- Lean Six Sigma Green Belt (LSSGB) Certification Training Courses

- Lean Six Sigma Black Belt (LSSBB) Certification Training Courses

Scrum Training by iCert Global:

- CSM (Certified ScrumMaster) Certification Training Courses

Agile Training by iCert Global:

- PMI-ACP (Agile Certified Professional) Certification Training Courses

DevOps Training by iCert Global:

- DevOps Certification Training Courses

Business Analysis Training by iCert Global:

- ECBA (Entry Certificate in Business Analysis) Certification Training Courses

- CCBA (Certificate of Capability in Business Analysis) Certification Training Courses

- CBAP (Certified Business Analysis Professional) Certification Training Courses

The company conducts both Instructor-led Classroom training workshops and Instructor-led Live Online Training sessions for learners from across the United States and around the world.

Please Contact Us for more information about our professional certification training courses to accelerate your career in the new year. Wish you all the best for your learning initiatives in the new year.

Which certifications are you aiming to achieve in the New Year? Let us know your thoughts in the 'Comments' section below. Thank you.