PMP Vs Prince2: Which one you should go for?

Aren’t we all in IT circles are already aware of the vitality and value of pursuing IT Certifications. It incredibly increases the value of our profile and off-late, it has been in huge demands in the IT industry. However, often we all get hassled when it comes to choosing from the plethora of courses and certification programs that is available to us.

Sometimes, the more we search on the internet, the more we get perplexed when we see the several certifications in the platter. So, we must gain extensive knowledge of the courses and then choose the best for our career. Here, we will focus on two highly in-demand and most important project management certifications – PMP and PRINCE2.

Let us be acquainted with the disparity and differences to get the most out of the comparison PMP vs Prince 2 certification and choose the one which will add the most value to your profile.

The basic difference lies in the techniques and approaches to complete the project. However, both have their own pros and cons and the selection needed to be made quite wisely.

Before enrolling in any of the course you must know the in and out with specific requisites and exams and the eligibility to qualify the process.

Having said that, a lot depends upon the kind of project and the company that you are associated with.

Let us figure out what PMP and PRINCE2 Certification is, to begin with.

PMP - Project Management Professional Certification

For establishing your career as a project manager, the PMI (Project Management Institute) offers this valuable certification. This certification enables you to attain a validation of your comprehensive knowledge and experience in whichever industry you work with. To get skills to handle, manage a project professionally and efficiently producing optimum results at its culmination. PMI is in Texas, US; however, it is renowned in other continents including europe and asia. 

Looking for PMP Training?

Prince2 - Project IN Controlled Environment Certification

The Prince2 program usually focuses on technique-related project management. In this certification, you get to know about a systematic approach and methods to complete a successful project.

Currently, it is owned by AXELOS. While pursuing this certification you would gain knowledge and insights on the number of topics such as MSL program management, risk management, portfolio and value, including IT service management and much more.

Prince2 certification is categorized into three categories based on their levels of difficulty i.e. Prince2 Foundation, Practitioner and Professional. One of the most advantageous factors of choosing the Prince2 certification course is that you become quite capable of executing any kind of project with great ease as you develop knowledge of project management principles.

Besides, it offers a model approach. And each team member is familiar with his job responsibilities and efficiently catering it professionally. The course planning is executed in a step by step manner and another benefit of Prince2 certification is that it highlights one both the project and process.

Highlights of the Prince2 certification program:

• It is significantly elaborate and descriptive program and touches all the important aspects of the project management process. It covers all important aspects of project management and the issues that one may have to deal with.
• The training associated is sure to assist in strategizing the plans more skillfully taking all the vital factors into account.
• It offers due significance to the techniques adopted for completing the related project.
• It enables you to save a lot of time and resources.
• Undoubtedly, there is always a scope of getting higher salaries in this field.

Let us make a comparative study between Project Management Professional and Prince2:

1. Area distributions across the globe:

Both PMP and Prince2 project management certifications are already considered reputed recognitions across the globe; however, there are certain countries where one is preferred over the other. While PMP is given priority in the United States and other American countries, Prince2 is more popular in UK, Australia, and other european countries.

Whereas, Asia, Africa, middle east regions give equal importance to PMP and Prince2. So, there is almost equal distribution amongst various regions across the globe.

2. Which one get higher pay: PMP or Prince2?

The main intention after skills upgrade is to get a higher pay for everyone who enrolls for a professional course or a certification. This is considered one of the vital factors for choosing a certificate course. If we compare PMP and Prince2 based on salary it draws for you, then PMP surpasses Prince2 certification.

In the US a PMP certified professional to get an average payment of $105,000 per annum, whereas Prince2 a quite popular certification in the UK offered an annual pay of £50,000 which when converted, will get around $77,500.

In a recent survey, it has been reported that PMP salary is going to hike in near future.

3. Difference between PMBOK Guide and Prince2

PMP vs Prince2 criteria when it comes to comparison is quite dissimilar to each other. While the former focus more on the aspects of knowledge the later more to technique. When you prepare questions, you will come across more ‘w’ based questions, such as when whom, what, etc. in Prince2.

When it comes to PMBOK Guide, one comes across more ‘how’ questions. So, when the question arises of which one is better of the two, the answer is both the certifications.

The technique and approach to complete a project is subjective and must be chosen by you. PMP and Pricne2 techniques are pitching against one another, but you will need both to implement your project framework. More can be found if you refer to the PMBOK Guide.

4. Analysis based on advantages:

So far both the certificates analysis is going shoulder to shoulder with each other. Hence, it has become pertinent to compare these two technologies based on their advantages.

Let’s analyses the benefits of PMP certification:

• PMP makes you an eligible candidate for flourishing pay on the completion of the course.
• Your skills and knowledge will help you to carry as well as manage projects more efficiently.
• Upon enrolling for PMP you become a member of PMI. It is a vast global network of professionals. In case, you are a freelance project manager you obtain more projects with their contacts.
• The big giant companies will give you a preference over other when you are PMP certification holder.
• Besides, getting priority in offering the job, your colleagues and seniors will give importance to your suggestions and advice while on a project.

5. Examination Format of PMP & Prince2:

Now, the exam, the most crucial and indispensable part of obtaining a PMP or Prince2 certification. The basic difference between the two exam formats is that while PMP tests your knowledge of the project management, Prince2 examines the methodologies of project management. 200 MCQs are required to be answered in four hours when attempting PMP and securing 62 percent marks is mandatory to qualify for the exams.

Here, mostly the questions are related to implementation, planning, and controlling the project and apart from that, there are other topics as well which were directly associated with project management such as materials, quality, risk management, etc.

For Prince2 certification, a candidate is tested on various levels. Prince2 has various exams on Foundation and Practitioner levels. In which you are required to attempt 75 MCQs in about one hour. The passing percentage is 50 in Foundation and 55 in Practitioner level exams. In case of questions at practitioner level is concerned, you need to complete 9 questions in 150 minutes.
 

6. Let’s see the criteria for appearing in the exam:

To apply for the PMP certification exam, one needs to fulfill several prerequisites before you can register for PMI. One needs to have cleared the intermediate exam from any high school or should be a graduate. Then, need to have experience in directing the projects and obtain project management education. The required number of specific hours in both the cases depends upon your academic degree, whether you are a high school pass or a graduate.

But for a Prince2 certification, there is no such rule. Prince2 foundation does not require you to satisfy any such criterion; however, for practitioner level, you must possess a Prince2 foundation level certification.

Registration procedure for PMP exam is simple. You simply need to log on to PMI training center and register online after paying the fee.

However, for Prince2 you must be little cautious while registering as you cannot do it at AXELOS. The choice, hence need to be made attentively. There are various training centers who charge differently for offering such services.

7. Fee for Examination:

Let’s quickly come to the comparison of the exam fee that you need to pay for appearing in the exam. PMP exam fee for members and non-members are different. Non-members pay $555 while members pay $405. To become a member of PMI the membership fee is around $100. Whereas, the Prince2 cost is the difference. It largely depends upon your training center. For foundation level you need to deposit $365 and for Practitioner, it is $485.

8. Certification renewal procedure:

Based on this point, Prince2 is more flexible as the candidates do not need to renew their certificate. The practitioner level certification; however, is valid for five years. As for PMP, the candidate should have about 60 PDUs after alternative three years.

Conclusion – a fair one

So, upon through investigation and analysis, it comes down to picking the one that is better for your career profile and convenience. Both the certifications have good career prospects and assist in boosting your career goals. However, you must consider all the above factors after considering all the vital factors.