What is PMP?
Project Management Professional certification is an internationally accepted certificate for project managers. Project management involves the creation, planning, execution, monitoring, control, and closure of a project. Successful project management requires that you focus on three criteria: time, resources, as well as features. The PMP certificate will help you improve your communication skills as well as teach you how to use Microsoft Project software and team building.
Why is a PMP certificate important to your career?
Credibility: PMP certification adds credibility.
Higher chances of being hired: Project managers are in high demand. Having a PMP certificate will help you increase your chances of being hired.
Helps you achieve career growth: The PMP certification teaches new skills and allows you to grow your career.
Marketability: PMP is a globally recognized certificate that is highly respected in the business community.
Higher salary: A PMP-certified professional makes about 23% more than a professional who is not certified.
What is Prince2?
Prince2 is a project management method that teaches project management in controlled environments. It is a process-based approach that can be customized to meet specific project requirements. Prince2 is a combination of Prince2 and Agile concepts. It is based on the Managing Successful Projects with Prince2 book, a foundational and practitioner-level certification. The Prince2 framework addresses planning, delegation and management of six aspects of project performance. This includes time, cost, quality and scope.
The 7 Principles of Prince2
Continued business justification: This principle validates the reason for starting the project and bringing it to life. However, the reason could change over time.
Learn from your mistakes: Apply the lessons learned from past projects to your current projects. For future reference, you must keep a detailed record of ongoing projects.
Define roles and responsibilities: It is important to clearly define the roles and responsibilities, such as project manager, project sponsor, and project administrator.
Manage in stages: The project should have at least two stages according to Prince2 standards. Risk and cost must be taken into consideration when dividing it into stages.
Manage by exception: To optimize delegation of authority, set a tolerance level for each project goal.
The focus should be on the products:Prince2 is output-oriented, so product definition, quality, as well as other criteria, are critical parts of project management. The product description should include composition, derivation and presentation, as well as development skills required, criteria, tolerance, methods, and responsibilities.
Tailored to fit the project environment: Prince2 project management is tailored to meet the needs of each project and its environment.
Differences between Prince2 and PMP
PMP
Prince2
Philadelphia, USA.
Originated in the UK
PMI, USA controls and manages the project.
Owned and maintained by Axelos, UK
Knowledge-based certification
Process-based certificate
PMBOK is the official guideline
The manual “Managing successful Projects with PRINCE2” contains the guidelines for exams.
PMI PMBOK is a blueprint to project managers
Structure is built upon seven fundamental principles and an integrated set of themes.
It is important to emphasize the role of a project manager
All roles are defined, practiced, and respected
PMI offers other certificates in project management, such as CAPM, but PMP is the only certificate.
PRINCE2 offers two levels of certifications: PRINCE2 Foundation or PRINCE2 Practitioner.
You must hold a secondary degree and have at least five years of non-overlapping professional project management experience. 35 hours of formal education is required. 4,500 hours must be spent leading and directing projects.
While there are no requirements for a foundational PRINCE2 certificate of any level, you must have a foundational certificate to be eligible for the practitioner-level certificate.
PMI members and nonmembers pay different amounts for PMP. PMI members pay US$ 405 and non-members pay US$ 555. The membership fee is US$139
The cost of PRINCE2 certificates varies depending on the region and Accredited Training Organisation.
PMP is a computer-based proctored exam that lasts 4 hours. It is administered at the Prometric center. There are 200 multiple-choice questions. There is no negative marking.
PRINCE2 Foundation exam also has 60 multiple-choice questions and lasts 60 minutes. PRINCE2 Practitioner is an objective, scenario-based exam that has 68 questions. The exam lasts 150 minutes.
To pass the PMP exam you must be a certified professional.