PMP Vs PRINCE2

The spell PMP represents Project Management Professional is a certification credential for Project Managers. It is generally utilized to scan and examine a candidate’s knowledge, expertise, efficiency, and educational background. PMP is a very popular kind of certification that is awarded by the Project Management Institute situated in the United States of America (USA). This certification is awarded based on the candidate’s conduct in an exam which is organized by PMI worldwide known as Project Management Body of Knowledge. Project Management Certification assists individuals in apprehending the elementary concept of Project Management and substantiates their skills in this sphere.

The full form of PRINCE2 is Projects in a Controlled Environment. It is a methodology used in the field of Project Management that helps in developing the Project Management skills of an individual. This is right now being used in over 150 nations.

The PRINCE2 works in seven phases-

1. Start-Up
2. Directing
3. Initiation
4. Controlling
5. Managing Product Delivery
6. Managing Stage Boundaries
7. Closing

Why choose PRINCE2 certification:

Unlike PMP, PRINCE2 does not straightway boost the remuneration package of its bearers. In lieu, it works on their skill coaching. It is outlined in a way to increase the potentiality and skills of the program takers, making them fit to enter the management discipline. It follows the “Tailoring Approach”. It means that it is very malleable to access.

PRINCE2 was initially crafted for the IT sector. Hence gives more disclosure in Information Technology. It has its horizon constricted to the construction, Information Technology, Business, Engineering sector, and financial services. There is no previous experience required to apply for acquiring. PRINCE2 requires formal training. The cost of the exam conducted by this is already included in the training program fee.

Given below are big brands that hire the PRINCE2 certification holder- Tata Consultancy Services (TCS), Tech Mahindra, HCL, Fujitsu, Capgemini, Ericsson. The time span needed for the study of the PRINCE2 certification course is around 1-2 weeks. That means 10-15 hours of study.

Advantages of getting a PRINCE2 Certification:

1. The best thing about PRINCE2 Certification is that due to the division of its projects into several components, it is very easily manageable.
2. Helps in developing communication skills.
3. PRINCE2 Certification gives an increase in the job opportunities for the candidate. It helps in developing your network throughout the globe.
4. The foundation and practitioner training of PRINCE2 is believed to be equal to holding a PMP® Certification.
5. This is best suited for individuals dealing in Information Technology project management. PRINCE2 was initially developed for the IT sector only hence gives assured results in this industry. However, it has increased its horizons to various other industries throughout the World.
6. As mentioned earlier it is easy but also cost-effective. Unlike other certification courses, PRINCE2 requires very little amount of skill-training.
7. The PRINCE2 certification is programmed for generic users and can be accessed very easily because it does not need any kind of special platform or software to work on. Because of its generic nature, it also proved to be flexible and efficient.

Why you should go for PMP® Certification:

It is prominent because of its assistance in the earning potential of individuals. In addition to that, it has also proved to be very fruitful for employers. Whereas PMP focuses more on knowledge areas. Hence it is not very flexible for the users. PMP is a globally recognized certification. It has proven its worth in almost all crucial industries.

To apply for a PMP® Certification, the candidate must hold a minimum experience of 3 years. Just like PRINCE2, PMP also requires formal training. An amount of 555 USD is required to appear in its qualifying exam.

Few companies who often prefer PMP professionals during their placement drive are Intel, Microsoft, Loreal, IBM, Dell, CGI, etc. The time required to complete PMP® Certification is about 8-10 weeks. Around 140-150 hours of study.

Benefits of PMP® Certification

1. If you are a Certified PMP® candidate then your chances of getting a good salary package are more than the other uncertified colleagues of yours. Certified employees also get raises very often.
2. When you are planning to get a PMP® Certification then you must join Project Management Institute (PMI) as a membership. The reason for it is that when you are a member you get a vast amount of exposure. You get to connect with a large network of experts in the field. The available contact source varies from professionals to people of your age, qualification, and experience. The contacts you build while being a member of PMI prove to be very useful in the long-run.
3. PMP® Certification is recognized worldwide, hence holding this certificate increases your market-value thus leading to better employment prospects for you.
4. Holding this certification adds value to your curriculum vitae and leaves a good impression on your employer. This shows your ability to choose what is good for you and your career.
5. Having such certifications show that you are well-versed with the language of the field of project management. Employers choose trained candidates over people who need to be trained before they begin their work for the company.
6. PMI is the world’s most trusted certification of employers

Learn more about:Benefits of Project Management PMP® Certification

Difference Between PMP and PRINCE2

• Technique: PMP is a Knowledge-based technique whereas PRINCE2 uses a Process-based technique.
• Responses to: PMP gives Answers to- How? And PRINCE2 Responses to Questions like What? When? Why?
• Working Environment: PMP works on a Descriptive framework. PRINCE2 mainly functions on a Prescriptive framework which means it is built on the finest operations of the project environment field.
• Role: The first one is designed primarily for the role of Project Managers and in PRINCE2 all the roles concerning project management fields are very properly defined.
• Stages: PMP is a Stand-Alone Certification program and PRINCE2 facilitates Two Stages of Certification.

Which is Better- PMP or PRINCE2?

This is the most common question that arises in a candidate’s mind when one thinks of getting certified. If you are willing to get any one of these certifications, then the foremost thing, to begin with, is Research Work. Both PMP and PRINCE2 have proven their importance in the management field many times, hence the task of finding the suitable one is in your own hands.

In order to make a wise decision ask yourself the following questions:

• Which of these suits your employability or will boost up your skills and expertise.
• Check the nature of your industry and then analyze which certification is given more preference in your respective industry.
• For example, some industry sectors give preference to the individuals holding PRINCE2® Certification, while on the other hand, many sectors find the PMP® certification more worthy.
• See what your salary requirements are.

To sum in short, PRINCE2 has a “Get Trained then work” approach that is it wants to make the candidate worthy enough to stand in the industry. While PMP due to its larger network provides growth opportunities to its qualifiers. Hence, the selection of suitable certification must be based on the kind or nature of projects you want to deal with in the future. Both of these certifications in a way have equal value but get different kinds of recognition due to various factors. Geographic location plays a very vital role in the popularity of both these certifications respectively.

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Conclusion:

In conclusion, whoever desires a bright profession in the field of project management and wants to have additional skills in his or her curriculum vitae, for them certification is a good choice. However, this choice often leaves the candidate in a dilemma as to which to choose over what- PRINCE2 vs PMP. Both PMP and PRINCE2 have their respective benefits. When it comes to selecting one among them, the candidate must make his/her decision wisely. You must make your selection on the basis of various factors like location, salary prospects, growth advantages, economic conditions, and time management. The most important thing to keep in mind while making a choice is to check the inclination of your industry. Because at the end of the day, you are fetching the certificate to excel in that particular industry only. 

Simpliaxis offers PRINCE2 training andPMP® Certification training to help you achieve these goals and advance your project management career. Additionally, our Agile and Scrum courses provide you with the tools to excel in dynamic project environments. We also offer Lean Six Sigma training to enhance your process improvement skills. With our comprehensive training programs, you can master the methodologies needed to drive success in your projects