PRINCE2 vs. PMP: Which is Better?

The most critical part of project management as a career option is to continue to improve efficiency and the overall outcome of the project. This requirement puts a lot of pressure on project managers to evolve and enhance their skill set continuously. Project managers find it beneficial to complete various certifications that can help them expand their skill set while they work. The PRINCE2 course and PMP certification are two of the most popular certification courses available for project managers.

This article discusses a few details about the two certifications for project management and the different certifications available for the same.

What is PRINCE2?

The PRINCE2, also known as the Projects IN Controlled Environments certification, is offered by AXELOS for project managers and working professionals to deliver high-quality projects in their organization. The certification training courses for PRINCE2 are designed to give learners a structured method to deliver all their projects with well-defined processes, clear templates, and more.

The PRINCE2 certification gives learners a broad framework to work with. The certificate makes it easy for all certified professionals to implement it with their existing projects because they can customize it to suit their needs. The certification also comes with a standardized and structured outlook to project management. All team members can use PRINCE2 better to understand job roles and responsibilities for project management. 

The PRINCE2 methodology for project management helps project managers divide their project plans into various workable components. This segregation makes it easier for teams to complete their projects. There are three levels of PRINCE2 certifications, but only the first two are widely completed. The different levels of a PRINCE2 certification are:

• PRINCE2 Foundation Level: This certification is for beginners of project management who want to learn how to implement PRINCE2 methodologies to their projects. There are no prerequisites for this certification.
• PRINCE2 Practitioner Level: The PRINCE2 Practitioner level certification is for those who already have experience working with and leading projects. 

Project managers can complete this certification to validate their skills. Work experience and the PRINCE2 Foundation level certification is a prerequisite for this certification.

• PRINCE2 Professional Level: This is the most challenging level of the PRINCE2 certification. It is tough to complete, which is why it has a low passing rate.

What is PMP?

The Project Management Professional (PMP) certification is offered by the Project Management Institute (PMI) for project managers who want to validate their skill set. The experience requirement for a PMP certification is higher because it is a professional course obtained after achieving a certain level of expertise. The certification trains project managers with different tools and techniques of project management to deliver high-value projects. 

The PMP certification is tailored for professionals who want to optimize their teams and increase their productivity and efficiency. Candidates of this certification course will learn how to plan, organize, and control projects to ensure they deliver the highest possible value. The certification also trains project managers to ensure all their projects are aligned with and help achieve the organization’s overall business goals.

The PMP certification teaches applicants the most recent developments in the field of project management. Candidates also learn about project breakdowns and workflows to optimize their output. They learn about resource management, risk management, and time management for deliveries. Learners also learn how to create and manage the project’s scope, how to communicate effectively, control the quality of the project, and more.

Different PRINCE2 certifications

There are many PRINCE2 certifications available for learners to pursue in terms of skills obtained and levels of expertise. The certifications offered for PRINCE2 are:

• PRINCE2 2009 Certification: This is the project management certification which comes with three different levels for Foundation, Practitioner, and Professional
• PRINCE2 2017 Certification: This certification is tailored for those who want to learn project management using Agile methodologies
• PRINCE2 Agile Certification: This certification implements Agile solutions for all project management strategies for learners
• AgileSHIFT Certification: This certification is for organization-wide implementation of Agile in terms of project management 
• MSP Certification: This certification is curated towards effective program management
• M_o_R Certification: This is a risk management certification offered for project teams to understand how to mitigate and manage risk more efficiently
• P3O Certification: This certification is tailored for those working professionals who want to learn how to manage projects, programs, and portfolios for organizations
• MoP Certification: This is a portfolio management certification for project managers and business leaders who want to learn how to build their organization’s portfolio and manage it successfully
• MoV Certification: This value management certification is designed to help working professionals increase the value they derive from each project they complete
• ITIL Certification: The ITIL certification is designed for working professionals and project managers who want to learn more about how to use IT as a service with the help of the ITIL framework
• RESILIA Certification: This certification is designed to help teams build more robust and secure applications and networks in their organization and make their projects more secure

Different PMP certifications

These are the certifications that are offered by the Project Management Institute (PMI), which include the PMP certification:

• Project Management Professional (PMP) Certification: A professional-level certification for project managers who want the leadership skills and validation of expertise to run projects successfully
• Program Management Professional (PgMP) Certification: A professional-level certification for those project managers who wish to become program managers, and for those program managers who wish to validate their skillset
• Portfolio Management Professional (PfMP) Certification: A certification for portfolio managers and business leaders to learn different tools and techniques to create a company portfolio that adds value to the organization
• Certified Associate in Project Management (CAPM) Certification: A foundational level certification for project management for team members to learn how to work on projects more efficiently
• PMI Professional in Business Analysis (PMI – PBA) Certification: A certificate for business analysts concerning project management to help derive better insights into their projects
• PMI Agile Certified Practitioner (PMI – ACP) Certification: This certification is for those project managers who want to implement organizational-wide Agile methodologies to help them create and complete projects using Agile
• PMI Risk Management Professional (PMI – RMP) Certification: This certification is designed for those professionals who want to learn more about risk management tools and techniques that they can implement in their projects

PRINCE2 and PMP Salary

The average salary of a certified PRINCE2 professional and a certified PMP professional varies because the PRINCE2 certification requires less prior experience than a PMP certification. On average, a PRINCE2 certified professional can make USD 90,000 a year, and a PMP certified professional can make USD 116,000 a year.

Conclusion

PRINCE2 and PMP are certifications for project managers to upskill themselves. The PRINCE2 certification can be completed at a foundation level as well, which is why project team members can also benefit from it. The PRINCE2 certification has a wider range of applicants whereas the PMP certification is targeted only towards experienced project managers.

Arvind Rongala, an engineer by education, has deep experience of serving the IT-BPO industry for more than 8 years. With his keen interest in the learning and development sector, Arvind spearheaded the launch of Invensis Learning as the training and certification arm of Invensis Technologies. As the Director of Invensis Learning, and with offices in the US, India, and Australia, he ensured the company became a trusted training partner for many Fortune 1000 clients and gained global recognition in a short span of time. {YourStory.com has featured a story about Arvind about his achievements over the years. } With his expertise in Project Management, IT Service Management, Quality Management, and IT Security Governance, he has been a guest author for various popular digital publications such as Business Insider, Business today, Project Times, Customer Think, Tech Sling, and Businessworld.

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