PRINCE2 Vs PMP

PRINCE2 Vs PMP

Last updated on 30th Sep 2020, Artciles, Blog

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What is PRINCE2?

PRINCE2 stands for “PRojects IN Controlled Environments.” The British central Computer & Telecommunications Agency originally established it for Information Technology projects in the year 1989. Later, PRINCE2 was released in the year 1996 as a methodology with the inputs from 150 European organizations. Currently, PRINCE2 certification is owned by Axelos, UK. Axelos (www.Axelos.com) was formed in 2014 with a joint venture of the UK government and Capita (a public company).

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PRINCE2 project management is a process-based methodology for projects. It offers the official manual “Managing successful projects with PRINCE2” for the practitioners following PRINCE2.

PRINCE2 integrates with some of the globally known and practiced IT frameworks including ITIL. This makes it more applicable in the techno-driven environments, where technology is embedded into the fabrics of the new generation IT organizations. As per the Axelos report 2016, 90% of the PRINCE2 practitioners value the certification for their career progression.

What is PMP?

PMP certification is a popular certification among project management professionals, which is administered by PMI (Project Management Institute), USA.

PMI is headquartered in Philadelphia, USA and was founded in 1969 (www.pmi.org). It is the world’s leading not-for-profit membership association for the Project Management profession.

PMP stands for Project Management Professional. The PMP certificate is most popular in the USA, Australia, and America. However, it is valued worldwide within the project management domain. The PMP certification exam structure is primarily based on PMBOK. PMBOK guide is also called as a bible for project managers and stands for Project Management Body Of Knowledge. 

Difference between PMP® and PRINCE2® certifications

There are two different project management frameworks involved in the PRINCE2® and PMP® certifications. Before moving to the differences, let’s compare both the certifications:

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PRINCE2®PMP®
The owner of PRINCE2® certification is AXELOS®, United Kingdom.PMI®, based in the United States administers the PMP® examination.
Its project management methodology explains your actions in order to manage successful projects.It talks about the knowledge that enables you to manage a project with good practices.
It deploys a perspective framework that focuses on processes for starting, controlled execution, and closing of projects.It deploys a descriptive framework which explains the knowledge areas, such as, risk, time management, etc., in detail with good practices.
It consists of an integrated set of process and themes, which can’t be used in isolation. There are 7 principles which should be followed.Each topic/knowledge area involved in PMP® can be referred to in isolation, in a sort of plug and play model.
PRINCE2® defines all the project roles clearly.PMP® mostly focuses on the project manager’s role.
PRINCE2® enables the framework to be highly scalable and flexible with its unique concept of ’Tailoring Approach’.PMP® doesn’t offer such flexibility as it focuses on knowledge areas.
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Conclusion

Both the certifications offer a body of knowledge and a proven approach towards managing projects efficiently. There are numerous factors that lead to your decision of choosing either PMP® or PRINCE2® certification. The parameters can be differentiated as follows:

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