PRINCE2 Certification vs PMP – Which Certification is Better

It goes without saying that if you work in the project management industry or are considering it, you are constantly looking for ways to increase your productivity. To learn these skills, you must gain experience as well as credentials like the PMP or the PRINCE2, which are frequently recommended by individuals and organizations who want to confirm your expertise in the project management field.

To effectively obtain a certification, it is essential to understand the fundamental similarities between the PMP and PRINCE2 tests before focusing on their significant variances. Your professional goals and the kinds of projects you intend to oversee in the future should determine whether you pursue a PRINCE2 or PMP certification. They both offer various forms of the project management framework.

What Does PMP® Certification Mean?

In any kind of industry, project management experts are essential. The demand is expressed in terms of the skill requirements, which vary by industry and region. So that you can feel a lot more confident at work and more effective in the job market, PMI certificates attest to your project management knowledge and experience.

Requirements for PMP® Certification

A bachelor’s degree, or it’s equivalent globally, 35 contact hours of formal project management education, 4,500 hours of unique, non-overlapping professional project management experience, and at least three years/36 months of that experience, all this requires the best PMP Training.

What does PRINCE2® Certification Mean?

“PRojects IN Controlled Environments” is the abbreviation for PRINCE2. The PRINCE2® certification is currently owned by Axelos, UK. A process-based methodology for effective project management is PRINCE2 project management. Practitioners might benefit from its official guidebook, “Managing successful projects with PRINCE2.”

PRINCE2® Foundation prerequisite

You will learn the PRINCE2 vocabulary and principles through the PRINCE2® Foundation certification. Once qualified, you will be able to participate as an informed team member utilizing the PRINCE2 methodology in a project environment that supports PRINCE2. As a pre-requisite for the PRINCE2® Practitioner course or independently, PRINCE2 certification training can be studied.

PRINCE2 and PMP Differences

First and foremost, we are aware that the PMP framework can be used in an agile context but only if the manager has the necessary training and expertise. However, choosing one of them depends on several crucial variables, including the industry you have experience in, the companies you intend to work for in the future, and the range of projects you will be handling directly. Additionally, you should be aware that both certifications offer best practices and standard approaches for managing projects successfully. On the other hand, PRINCE2 has introduced a new stream called PRINCE2® Agile Foundation & Practitioner, which includes agile approaches.

Exams

The PRINCE2 Examination

The first portion of the PRINCE2 exam is shorter, taking only 60 minutes to complete, and consists of around 75 multiple-choice questions. On trial, five of the 75 questions are asked. Additionally, there is a Practitioner exam with roughly 9 questions that must be finished in 2.5 hours and focuses on scenarios.

The PMP Examination

Candidates must respond to around 200 questions over the four hours of the PMP exam. Project planning, execution, controller, and project closing are only a few of the topics covered in the questions. These are the five primary areas, and it also covers other subjects like resource management, change management, and quality assurance.

Which is Harder, the PMP® or the PRINCE2®?

Compared to PRINCE2, PMP® certification is more challenging. A secondary degree and a minimum of 7,500 hours are needed. As an alternative, a 4-year degree and 4,500 hours are needed.

On the other hand, you need just to pass the exam to earn the PRINCE2® Foundation certification.

The price difference between PMP® and PRINCE2® certifications is as follows:

The cost of the PMP® certification training depends on several variables, including the number of training days, and the type of training, The PMP certification program typically costs between $100 and $250. The cost of the PMP® Certification Exam is $555 (approximately INR 39,856).

PRINCE2 Certification Fee:

The cost of training for the PRINCE2 Foundation and Practitioner depends on several parameters, including the number of training days, and the type of training, The PRINCE2 certification program typically costs between $100 and $250.

You will pay between $630 and $650, or between INR 45,000 and INR 47,000, for PRINCE2 Foundation & Practitioner Training and Certification.

PRINCE2® Practitioner Cost is Euro 480 or INR 38,170, and PRINCE2 Foundation Cost is the same.

PRINCE2 vs. PMP: Salary Possibilities

Project management specialists who are certified are compensated more than those who are not. A person’s proficiency in project management might be inferred from a recognized certification, such as the PMP or PRINCE2.

The average annual income for a certified PMP in the United States is $112,000, according to the PMI Project Management Salary Survey. Practitioners with certifications make 20% more money than those without certifications.

How Can You Sign Up for the Certifications?

  • PMP® Accreditation

On the PMI website, you can sign up for the exam. Complete the application and submit it. After applying, use the payment link PMI shared to pay the exam fee. The exam schedule and suitable testing location can then be chosen.

●      Foundation and Practitioner of PRINCE2

You can sign up using either of the two methods listed below:

Attend an exam after a training course with an Accredited Training Organization (ATO) or study independently and then schedule an exam with PeopleCert, an Axelos PRINCE2 Examination Institute, without taking a training course.

Conclusion

Project management qualifications like PMP® and PRINCE2® are useful. While PRINCE2 uses a process-based methodology, PMP uses a knowledge-based approach. The accreditation you select should take into account your job prospects, ongoing projects, and the area in which you are employed. While PRINCE2® is a process-based framework and PMP® is more understanding- or knowledge-based, you will learn a lot of things in PMP training, such as procurement management, vendor management, supplier management, and others. But what if your project doesn’t require these things?

Due to this, PRINCE2 and PMP do not vie for credentials globally. The skills and knowledge that each of these credentials offer would be advantageous to an expert. You can become familiar with both credentials if you wish to succeed in the field of project management. You can choose both to develop into a respected and skilled project manager on a global scale.

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