PMP Vs PRINCE2

In the field of project management if you have ever wonder to be certified in project management , the two certifications you hear first are PMP & PRINCE2. You must be wondering now which certification I should pursue to apply in your project management career & grow in your knowledge.

Both PMP (Project management professional) & PRINCE2 (Projects in Controlled environment) are highly reputed in the project management field & gives you knowledge on understanding the project management concept & apply them throughout the project lifecycle. Both certifications have equal values, however you have to look in to other influencing factors to when picking the certification. If you are looking to take a decision on which certification is better , it is not that easy.Let me give you some details about both which will help you to make this decision.

Deciding Factors

Frame Work:

PRINCE2 is managed by APMG & is based on process which drive the project management. PRINCE2 is a methodology with a detailed process model & templates. PRINCE2 tells the step by step information on how to run a project & more practical. PRINCE2 focuses on the business benefits from projects in different phases to asses whether the project is giving value to organization & customer. The roles & responsibilities of each member of team is well defined. PRINCE2 have Process, principles, themes & deliverables.

PMP is one of highly regarded project management certification offered by PMI ( Project management institute). PMP is is a standard & not a methodology which is applicable or can be applied in all industries like construction, IT, government etc. PMP is based on understanding the knowledge as per PMBOK. PMP covered project process groups, knowledge areas & processes.

Geography:

If you are planning to take the certificatin, you must spend some time in doing the reasearch to select the suitable path. PMP & prince 2 are having higher value in certain geographies. PMP is preferred in US & other regions exept (UK, Europe), & PRINCE 2 is recognized in UK & Europe. If your project or you are going to manage project in US it is recommended to certify in PMP & it is in UK or Europe it is preffered to certify in PRINCE2. This will give you more value in respective location.

Salary:

As per the reports it is clear that certified project managers earns more than the non certified project managers. Having a certification specifically with PMP or PRINCE2 enhances the value of yours. As per survey shows that in US certified project managers get 20% more salary that non certified peers. PMP certified are getting more salary than PRINCE2 Certified as per the reports.

Exam:

I have covered the certification detail for PMP in my post pmp training project management certification

To shortly summarize, there are pre-requsites for PMP certification as below

Secondary degree (high school diploma, associate's degree or the global equivalent)
7,500 hours leading and directing projects
35 hours of project management education
OR

A four-year degree
4,500 hours leading and directing projects
35 hours of project management education

There are no specific pre-requisite for PRINCE2 Certification. PRINCE2 have both foundation & practitioner exam, to write practitioner you need to be certified on PRINCE2 foundation.

The cost of the PMP certification is USD555 for non PMI member & USD450 + USD 129 for PMI Member.

PMP exam duration is 4 hrs & have 200 questions. The questions are split across the process groups initiating, planning, executing, monitoring & controlling and closing.

PRINCE2 foundation exam duration is for 1 hr and have 75 questions. The practitioner exam duration is for 2.5 hrs.

To maintain the PMP certification you need to get 60 PDU or professional development unit every three years.

PRINCE2 exam there is no need for renewal. Practitioner certification is valid for 3 years & need to re-certify.

I have also found out that similar way to PMP, PRINCE2 also provide renewal of the practitioner certification through collection of CPD's . You can register for the membership of AXELOS & then collect 60 CPD's which will renew the certification. Refer the details here.

Networking:

One of the major benefit of PMP is you become a PMI member & which gives you opportunity to connect with experienced project managers in PMI chapters across the globe. You are eligible to use all the available resources in PMI & this give a great advantage & learn from experience.

PMP vs PRINCE2

Decision:

Both PRINCE2 & PMP are good certification & enhances your project management career, the decision on which one has to be completed depends on the industry, geography & benefits. If you can do the both certification it is well recommended to develop the project management skills across different standards & methodology.

PMP stands for Project Management Professional (PMP). PMP Certification is offered by the Project Management Institute(PMI) and is an industry-recognized credential for project managers. PMP certification demonstrates the project manager's experience, knowledge, skills and competencies required to lead and direct projects.

Some of Globally Recognized Certifications for Project managers are below

  • Project Management Professional (PMP)®
  • Program Management Professional (PgMP®)
  • PMI Portfolio Management Professional (PfMP)®
  • Certified Associate in Project Management (CAPM)®
  • PMI Scheduling Professional (PMI-SP)®
  • PMI Risk Management Professional (PMI-RMP)®
  • PMI Agile Certified Practitioner (PMI-ACP)®
  • PMI Professional in Business Analysis (PMI-PBA)®
  • The Projects IN Controlled Environments (PRINCE2)Certification


who should apply for PMP certifications ?

An experienced project manager who meets the following requirements:

  • Perform their duties under general supervision and are responsible for all aspects of the project for the life of the project
  • Lead and direct cross-functional teams to deliver projects within the constraints of schedule, budget and resources
  • Demonstrate sufficient knowledge and experience to appropriately apply a methodology to projects that have reasonably well-defined project requirements and deliverables

There are few prerequisites for you to apply for PMP certification. These are related to the qualification, experience hours in project management & learning or education hours on Project management topics.

Project management certifications requirements/PMP certification requirements

  • Secondary degree (high school diploma, or the global equivalent)
  • 7,500 hours leading and directing projects
  • 35 hours of project management education

Or

  • Four-year degree
  • 4,500 hours leading and directing projects
  • 35 hours of project management education

Certification Prerequisites

The PMP certification exam has 200 multiple-choice questions, and you have four hours to complete it.

Once you are certified in PMP, you need to maintain your PMP certification by earning 60 PDU's ( Professional development units) in every three years.

The cost for certification is US$555.00 for non-member & US$405.00 for PMI Member . For PMI membership it costs US $129, it is always recommended to become a PMI member as you will get lot of benefits becoming a part of PMI chapter. You will be able to download the PMBOK from PMI login & other books for your reference.

Application for PMP certification can be divided in to 4 step process

  • Create PMI login.
  • Submit the application with your project experience  & learning information.
  • Complete the audit process if selected.
  • Pay for the exam & book your seat.

Create PMI Login:

  1. Go to http://www.pmi.org/ and click on “Login / Register” .
  2. Enter the details , First Name, Last Name, Primary Email Address, Select country, Company name(You can put None if you are not part of any company), Job Title, Year you Born, etc, Select user name, password & set security question and answer.
  3. Click on create account
  4. You will receive a confirmation email for your registration & you can login to the PMI.
  5. Optionally you can purchase PMI membership , which is recommended. The cost of membership is $129 per year.

Submit the Application:

  1. Once you login to PMI , select the application for Project Management Professional.
  2. The application wizard will showup & you need to enter the Project management experience, education & learning details for 35 PDU.
  3. Depending upon your educational qualification you need to showcase the hours 4,500 and 7,500 hours of leading and directing project in order to qualify for the exam. You can provide the details which you have worked splitting the effort spend in each Project management process groups Initiating, Planning, executing, Monitoring & controlling and Closing for each individual project. Overall addition of hours should be come minimum of  4,500 and 7,500 hours as per your qualification criteria.
  4. Enter the details of training's or Web based learning you completed to achieve 35 PDU.
  5. Select the right projects & learning experience in the application as if your application is selected for Audit, you will have to get the signatures from relevant stakeholders to confirm your application.
  6. In any way do not try to enter incorrect information, lies or write things are inaccurate.
  7. Once you submit the application it will take 5-10 days for application review & email will be send to you once approved. If PMI is looking for more information they will contact you asking for more details. Don't get panic, if you have entered the right details you need to get the signatures & proof for respective queries & send to them in hard copy to the address.

Note: Once you start the application submission you have 90 days to complete the application.

Pay for the Exam & schedule your slot:

Once your application is approved, make the payment and move to final stage. The payment is completed, you will be receiving the email with eligibility number which is valid for 1 year. To book the exam schedule through Pro metric center https://www.prometric.com/en-us/clients/pmi/Pages/landing.aspx near your location.

The PMP exam is made out of 200 multiple choice questions & the duration of the test is 4hours, with no scheduled break. Out of 200 questions random 25 question are for statistical sampling only – meaning you do not get any point if you answer them correctly.

Congratulations, you are all set now to take up the exam. You need continuous dedicated effort to learn for PMP certification, there are lot of terminologies, tools, techniques which you need understand & correlate to the question. There are several formulas also need to be kept in mind which can easily get you some confirmed score for those questions.

To get 35 PDU it is recommended to attend any instructor led PMP certification course or Project management training from reputed institutes or there are web based training also available like Simplilearn, Pluralsight, Udemy etc. Make sure the training is covering whole Process groups, Knowledge areas & Processes.