PMP® vs. PRINCE2®

What is a PMP^® certification?

PMP^® stands for Project Management Professional and it is a globally recognized certification offered by the Project Management Institute (PMI). PMP^® certification validates your knowledge and skills in leading and directing complex projects across various domains and industries. To earn the PMP^® certification, you need to meet certain education and experience requirements, as well as pass a rigorous exam that covers the PMI's Project Management Body of Knowledge (PMBOK^®) Guide.

What is a PRINCE2^® certification?

PRINCE2^® stands for Projects in Controlled Environments and it is a structured project management methodology. It has its origins in a UK Government requirement, has been improved and adapted several times over the years and in its current form is owned by AXELOS Ltd. The PRINCE2^® certification demonstrates your ability to apply the PRINCE2^® principles, themes, and processes to manage projects effectively and efficiently. There are two levels of PRINCE2^® certification: Foundation and Practitioner. The Foundation level covers the basics of the PRINCE2^® methodology, while the Practitioner level tests your ability to tailor and apply it to different scenarios.

What are the benefits of getting a PMP^® certification?

Getting a PMP^® certification can bring you many benefits, such as:

• Enhancing your credibility and reputation as a project manager
• Increasing your earning potential and career opportunities
• Expanding your network and access to resources within the PMI community
• Improving your project performance and outcomes
• Keeping up with the latest trends and best practices in project management

What are the benefits of getting a PRINCE2^® certification?

Getting a PRINCE2^® certification can also offer you many advantages, such as:

• Gaining a comprehensive and flexible project management framework
• Developing your skills in managing projects of different sizes, types, and complexities
• Aligning your projects with the strategic objectives of your organization
• Improving your communication and collaboration with stakeholders
• Increasing your employability and recognition in the UK and other countries that use PRINCE2^®

Both, PMP^® and PRINCE2^® certification, can boost your career prospects in project management, but they may have different levels of demand and recognition depending on the region, industry, and organization you work for.

Generally speaking, PMP^® is more popular and widely accepted in North America and Middle East, while PRINCE2^® is more prevalent and preferred in Europe, especially in the UK. However, this does not mean that one certification is better than the other or that you cannot use both in different contexts. In fact, some employers may value candidates who have both certifications, as they show a diverse and comprehensive understanding of project management.

According to various sources, such as PayScale, Glassdoor, Indeed, etc., both PMP^® and PRINCE2 certified professionals can earn higher salaries than their non-certified counterparts. However, the exact amount of salary difference may vary depending on factors such as location, experience, industry, etc. For example, according to PayScale, the average salary for a PMP^® certified project manager in the US is $86k per year, while the average salary for a PRINCE2 certified project manager in the UK is £45k per year. However, these figures are only indicative and not definitive, as they may change over time and across different sources.

The difficulty level of PMP^® vs. PRINCE2^® certifications may depend on your personal preference and learning style. Some people may find PMP^® more challenging because it requires more experience hours and covers a broader range of topics than PRINCE2^®. Others may find PRINCE2^® more difficult because it involves more memorization and application of specific terminology and processes than PMP^®. Ultimately, both certifications require a lot of preparation and dedication to pass.

PMP^®

The PMP^® exam is based on the Project Management Body of Knowledge (PMBOK^®) guide, which covers five process groups and 10 knowledge areas of project management. The exam consists of 200 multiple-choice questions that must be answered in four hours. The exam fee is $555 for non-members and $405 for members of the Project Management Institute (PMI).

PRINCE2^®

The PRINCE2^® exam is based on the PRINCE2^® methodology, which covers seven principles, seven themes, and seven processes of project management. The exam has two levels: Foundation and Practitioner. The Foundation exam consists of 60 multiple-choice questions that have to be answered in one hour. The Practitioner exam consists of 68 objective-testing questions that have to be answered in two and a half hours. The exam fee varies depending on the country and the training provider.

I recommend you this book for your PMP^® studies

A Guide to the Project Management Body of Knowledge (PMBOK^® Guide) – Seventh Edition and The Standard for Project Management (ENGLISH)

PMBOK^® Guide is the go-to resource for project management practitioners. The project management profession has significantly evolved due to emerging technology, new approaches and rapid market changes. Reflecting this evolution, The Standard for Project Management enumerates 12 principles of project management and the PMBOK^® Guide – Seventh Edition is structured around eight project performance domains.

→   Click here to get your copy   ←

I recommend you this book for your PRINCE2^® studies

Managing Successful Projects with PRINCE2^® 2017th Edition

PRINCE2^® is an easy-to-use project management methodology that provides the essentials for managing any project in any industry. This complete guide is fully aligned with the PRINCE2^® Foundation and Practitioner exams and acts as a day-to-day reference tool to manage and deliver projects successfully.

→   Click here to get your copy   ←

PMP^®

To apply for the PMP^® certification, you need to have either:

• A four-year degree, 36 months of leading projects, and 35 hours of project management education or training; or
• A high school diploma or an associate degree, 60 months of leading projects, and 35 hours of project management education or training.

PRINCE2^®

To apply for the PRINCE2^® certification, you need to have either:

• The PRINCE2^® Foundation certification, which has no prerequisites; or
• The PRINCE2^® Practitioner certification, which requires one of the following: PRINCE2^® Foundation, Project Management Professional (PMP^®), Certified Associate in Project Management (CAPM^®), IPMA^® Level A (Certified Projects Director), IPMA^® Level B (Certified Senior Project Manager), IPMA^® Level C (Certified Project Manager), or IPMA^® Level D (Certified Project Management Associate).

PMP^®

PMP^® certification requires you to earn 60 Professional Development Units (PDUs) every three years to maintain your credential. PDUs are earned by completing activities that enhance your project management skills and knowledge, such as taking courses, attending webinars, volunteering, or writing articles.

PMP^® certification renewal costs $60 for PMI members and $150 for non-members.

PRINCE2^®

PRINCE2^® certification does not require any renewal or maintenance. Once you pass the PRINCE2^® Practitioner exam, you are certified for life. However, you can choose to re-register your certification every three to five years by taking a re-registration exam, which is shorter and cheaper than the original exam. This is optional and only shows your commitment to keeping your skills up to date.

PRINCE2^® re-registration exam costs £100 for UK candidates and varies for other countries. However, since PRINCE2^® re-registration is optional, you can avoid this cost if you wish.

Please comment below what experiences you have made yourself or just contact me if you would like to learn more or need templates etc.