If you work in the field of Project Management, or if you are focused on this thriving discipline, you may be wondering what you need to do to get certified to advance your career. Two of the most popular and globally recognized certifications are Projects IN Controlled Environments (PRINCE2) and the Project Management Professional (PMP). Both are highly sought after by companies worldwide and provide you with excellent practical knowledge and a range of valuable tools to ensure the success of critical projects.
Therefore, since both certifications are so popular, the question may be in your mind: which one is right for me? In this article, we’ll go through various aspects of both certifications and compare them in detail to help you choose the right one. If you want to know more detailed information about these certifications, refer to SPOTO.
What Are the Main Differences between PRINCE2 and PMP?
Basically, the PRINCE2 and PMP certifications address two different project management frameworks. However, both provide a body of knowledge and a proven methodology for effectively managing projects.
The PMP is based on the PMBOK, which is a standard instead of a methodology. It includes a truckload of processes and “accepted” project management techniques to evaluate or complete your project operations or the methods you use. As such, it is more theoretical and is a reference guide.
PRINCE2, on the other hand, is a methodology with detailed process models and templates. It gives step-by-step instructions on how to organize and run a project. It is, therefore, more practical than the PMBOK and focuses on a limited set of techniques.
The Project Management Professional (PMP) Certification
One of the most highly regarded project manager certifications globally, the PMP® is a credentialing program offered by the Project Management Institute (PMI®). One of the primary resources for this certification is the Project Management Body of Knowledge (PMBOK), which concentrates on ten knowledge areas and the various phases of a project.PMI’s approach centers on the inputs, outputs, tools, and techniques available to project managers, making the certification applicable to any method and industry. The program is administered by PMI in the United States and has also gained popularity in Europe and Asia.
The Projects in Controlled Environments (PRINCE2) Certification
The certification, initially established by the Central Computer and Telecommunications Agency (CCTA) in 1989, focuses on a process-based methodology. It provides defined processes and templates to ensure successful project outcomes. Although it is primarily used by the U.K. government, this project management approach is commonly used for I.T. projects worldwide.
In essence, the core of this approach is:
Focus on meeting the needs of the organization and defining the business case
Define roles and responsibilities in the project management team
Breaking down the project into manageable tasks and removing any ambiguity
A standardized approach to achieving successful project outcomes
Before you think about getting one of these certifications, the first thing on your list should be to take a close look at how your options are in demand in your current location. Different geographies will have different needs for the two certifications, so you need to determine which of the two certifications will enhance your employability. Also, some industry sectors prefer the PRINCE2® certification, while others prefer the PMP® certification.
• PRINCE2 – Being preferred in Australia, Europe, and the U.K.
• PMP – Being preferred in Canada, the U.S., and the Middle East
• Both – The certifications seem to be equally prevalent in Asia and Africa
Certified managers typically earn much more than their non-certified counterparts. This is because having a certification, and the experience of applying it in practice, is a massive affirmation of a candidate’s knowledge and ability. A project management certification, like PRINCE2® and PMP®, shows that a candidate knows and understands the common language of project management.
The PMI Project Management Salary Survey – 10th Edition states that project manager salaries worldwide will continue to climb.
In the U.S., the average annual salary for a certified PMP® is $112,000. Thus, they earn an average of 20% more than their non-certified counterparts. The highest average salary for a PMP® is in Switzerland at $130,966.
PMP Vs. PRINCE2: How to Choose the Right One?
The two certifications share many similarities in terms of personal and organizational benefits. Each certificate helps candidates gain valuable insight and understanding of the essential tools and practices designed to ensure project management success. More importantly, each certification is based on a large, evolving body of knowledge, which can help candidates keep their skills up to date.
When comparing the two, it seems that PMP certification often leads to higher and more frequent raises. Joining PMI is also a great networking resource.
The downside is that earning the PMP certification may take a longer time and require a lot of hands-on experience. As a result, PMP is usually more of an option for established project managers who want to advance their careers. However, while it is undoubtedly easier to earn the PRINCE2 certification, candidates still need enough experience to reach a high-paying position.
So, which is better, PRINCE2 or PMP? Actually, there is no correct answer to this question. You need to decide which certification is the best for you based on:
– Your current experience
– Your work location
– Your salary expectations
– What you or your company hopes to achieve by investing in training
Both certifications are valuable in the project management field, and both have been tested over many years of project success. PMP is based on knowledge, while PRINCE2 methodology is based on the process of discovering the best-proven practices in project management. To excel in project management, one needs to have both of these areas of knowledge. Therefore, I would say that PMP and PRINCE2 are complementary to each other instead of competitors. To advance your career as a skilled project manager, you can choose both. Make yourself a project manager of global value.