PMP vs. PrINCE2: Which is Right for You?
You must pass the bar to become a lawyer. You must also pass medical school if you want a career as a doctor. (Or, at the very least, find a convincing Halloween costume for a doctor.
What qualifications are required to become a project manager?
It is a good idea to have a bachelor’s or at least an associate degree. According to the latest PMI Project Management Salary Survey 91% of respondents in the U.S. have at least a bachelor’s degree.
Let’s say you’ve done all that and have found a job as project manager. Congratulations! You might be wondering how to make your project manager more effective and earn more money, be promoted, or be hired for higher-paying positions in the future.
You are very welcome.
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There are many great tools for project management (PM), which can help you be more productive at work. These tools can make your workday run more smoothly, but advanced project management certifications can help you grow professionally.
PMP and PRINCE2 have been the most prominent names in project management certification. Let’s take a closer view.
What is PMP?
The Project Management Institute offers a professional certification called PMP (Project Management Professional).
According to the 2015 Project Management Salary Survey (2015 Project Management Salary Survey), project managers in the United States with a PMP certificate made on average 20% more than those without one.
PMI recommends that candidates for PMP certification have experience in project management (35 hours PM education for college graduates and 4,500 hours PM leadership experience for college graduates). Candidates must also be “responsible” for managing cross-functional teams, leading and delivering projects.
The multiple-choice 200-question exam costs $555 (or 405 for PMI members) and takes four hours to complete.
There are many online courses that can help you prepare for the exam.
PMPs can keep their certification after they have earned it by earning 60 professional development units each three years.
What is PRINCE2?
PRINCE2 is not a pseudonym of the great pop-funk-fusion artist.
PRINCE2 stands for Projects in Controlled Environments.
The original PRINCE (sans 2), was established by the British Central Computer and Telecommunications Agency in 1989 to establish guidelines for IT projects. Its British roots are why PRINCE2 has become the standard project management certification in Australia and the U.K.
PRINCE2 was created in 1996 with the help of approximately 150 European organizations. Although PRINCE2 methodology remains public domain, many private companies offer training for the PRINCE2 Practitioner examination. It has 80 questions and takes 150 minutes. Registering costs 349 British Pounds (about US$435).
AXELOS is a joint venture between the U.K. Government & Capita. It was established in 2014 to manage a few best practice qualifications, such as PRINCE2, and promote those best practices internationally.
A 2016 AXELOS survey found that around 90% of PRINCE2 practitioners in Britain believe the certification is at most partially valuable to their careers.
What is the difference?
Analysis in Gartner’s 2016 Project and Portfolio Management Hype Cycle (full content available for Gartner clients) referred to PMP and PRINCE2 as “the gold standard” certifications with no serious competition.
This endorsement is quite solid. But which certification should your focus? Or is it worth pursuing both?
PMP was created in 1984 and PRINCE2 was created in 1989. Both certifications have stood the test of time.
Due to the geographic location of their governing bodies you will find more PMPs across North America and more PRINCE2 practitioners throughout the pond.