PRINCE2 vs PMP: Which is The Best Career Option
If you’re in the Project Management field, or if you’ve always wanted to immerse yourself in this thriving discipline, you’ve probably wondered about what steps you need to take to get certified to advance your career. Both PRINCE2 and Project Management Professional, are highly respected in the field. These certifications can prove to employers that you have an understanding of the key concepts and how to apply them throughout a project management lifecycle.
This begs the question: What certification is right for you? Although it’s not an easy choice, don’t be discouraged – we have done much of your hard work!
What is the main difference between PRINCE2 and PMP?
Two different project management frameworks are involved in the PRINCE2 and PMP Certifications. Both certifications offer both a solid foundation of knowledge as well as a proven way to manage projects efficiently. It is difficult to choose between the two. This decision requires consideration of many factors. The industry in which you wish to make a career and the type of project that you intend to manage or lead are two factors that should guide your decision. Both certifications are equally valuable, though they focus on different aspects.
What is the main difference between PRINCE2 and PMP?
Two different project management frameworks are involved in the PRINCE2 and PMP Certification. Both certifications offer both a solid foundation of knowledge as well as a proven way to manage projects efficiently. It is difficult to choose between the two. This decision requires consideration of many factors. The industry in which you wish to make a career and the type of project that you intend to manage or lead are two factors that should guide your decision. Both certifications are equally valuable, though they focus on different aspects.
Project Management Professional (PMP) Certification
One of the most highly regarded certifications in the world for project managers, the PMP or Project Management Professional Certification is a qualification program that is offered by the Project Management Institute (PMI). Many industries require PMP, which is a standard requirement for project managers. The PMP training allows you to work in any industry, with any method. The certification course covers many project management skills and competencies that are essential for project managers. It can also help you to increase your earning potential. This course, which is administered by PMI USA, has gained popularity also in Europe and Asia.
The PMP Qualification
- It is an indicator of your proficiency with the PMBOK Guide, Project Management Book of Knowledge.
- Test your knowledge about “generally accepted best practices” and principles of project management.
Projects in Controlled Environments (PRINCE2) Certification
PRINCE2, which stands for Projects IN Controlled Environments certification, is a method-based project management system that provides a structured approach to delivering successful projects with clear templates and processes. The certification is both project and process-oriented. PRINCE2 is administered by the APMG in the UK.
The PRINCE2 Qualification
- This is a comprehensive, high-level, and general framework for project management principles. It can be used on almost any project.
- Uses a standardized approach to project management.
- The roles and responsibilities of each member in the team responsible for managing the project are listed.
- The master project plan is divided into project plans and stage plans. This eliminates ambiguity and makes the project easier to implement.
- It is both project- and process-focused.
PMP Professionals in Demand
It is crucial that you do your research before you embark on a path. Each certification is highly sought after in certain areas, so it is important to research which one will best help your employment prospects. A few industries prefer PRINCE2 certification, while others prefer PMP certification.
The preferred certification in Australia, Canada, the Middle East, and the USA is the PMP. The UK, Europe, and Australia recognize PRINCE2.
PRINCE2 vs PMP: Salary Prospects
Multiple studies and surveys indicate that project managers who have been certified are more successful than their peers who aren’t. Having a project management certification, especially ones like PRINCE2 and PMP, signifies that an individual knows and understands the universal language of project management.
The PMI Project Management Salary Survey – Tenth Edition, states that the salaries of project managers around the world continue to climb.
An average salary for a PMP in the US is $112,000 per annum. They are 20% more successful than their non-certified counterparts. Switzerland has the highest average PMP, at $130 966.
Benefits of PMP Certification
- More Salary Options
Certified PMP, professionals receive higher and more frequent pay increases than their peers who aren’t certified.
- Networking Opportunities
PMI membership is required to obtain a PMP certification. As a member of PMI, you will have access to a wide network of professionals who share similar qualifications. These contacts could be vital in helping you to land a job in project management.
- Higher Employment Prospects
The PMP, the most trusted and widely recognized project management certification worldwide, is the credential that employers trust.
Benefits of the PRINCE2 certification
- Comprehensive Body of Knowledge
The PRINCE2 knowledge body equips credential holders with the tools to analyze projects from all angles and ensure their viability before they are initiated. In order to avoid any potential problems, the planning stages take into account factors like user requirements as well as possible risks.
- Methodology Well Laid-Out
Because the process of certification is clearly defined, it saves time as well as resources.
The standard approach used throughout the project is uniform and eliminates confusion.
- Increased Salary and Greater Employability
A higher chance of landing a good job in a country like the United Kingdom is possible. Your employer has enough proof to offer you a pay rise.
- Case Studies from Business Cases
PRINCE2 requires that users self-assess their business cases and provide updates at designated points. This is to ensure that the project delivers value to the company and its customers. Failing to do this will result in the project’s discontinuance.
The region in which you work and your job prospects will determine the certification that you choose. There are no regional certifications that PMP, PRINCE2 can compete for. These certifications can be used to enhance the skills and knowledge of professionals.