How to choose the right credential to support your Project Management career: PRINCE2 vs PMP
For many years, project management has been a highly-paid career option. This trend is expected not to change in the near future. Project managers who are skilled and experienced will be in high demand.
According to PMI research, employers will need 87.7 millions project management-oriented jobs by 2027. You can make a difference in your career as a project manager by getting the right project management certification now.
Why is Project Management certification important?
Project managers with a recognized industry certification have an advantage over those who are not certified. You can gain industry recognition by obtaining certification. The right certification will allow you to be recognized globally in any industry and at any location.
” 72% of PMO leaders believe certification is very important for mid-career project manager. PMI Report, Pulse of the Professional: 2018 The two most popular project management certifications are the PRINCE2 and the PMP (Project Management Professional). It is important to fully understand the differences between each certification, as well as their potential career opportunities after they are certified.
PRINCE2 vs. PMP:
Before we get into the differences, let’s first give a brief overview of each certification.
What is PRINCE2?
PRINCE2 stands to “PRojects in Controlled Environments.” It was originally created by the British central Computer & Telecommunications Agency in 1989 for Information Technology projects. PRINCE2 was later released in 1996 as a methodology that incorporated inputs from 150 European organisations. Axelos, UK, currently owns PRINCE2 certification. Axelos (www.Axelos.com), was established in 2014 by a joint venture between the UK government (a public company) and Capita (a private company).
Video credits: Axelos Global Best Practice
PRINCE2 project management uses a process-based approach to projects. It contains the official manual “Managing successful Projects with PRINCE2” which is for PRINCE2 practitioners.
PRINCE2 can be integrated with some of the most widely used IT frameworks, such as ITIL. This makes it more useful in techno-driven environments where technology is embedded in the fabric of the new generation IT organisations. According to the Axelos 2016 report, 90% of PRINCE2 practitioners value certification for their career advancement.
What are the different PRINCE2 Certifications available?
PRINCE2 offers these certifications:
PRINCE2 2009 – Certification for Project Management
PRINCE2 2017- Certification for Project Management with tailored consideration, including Agile
PRINCE2 Agile – Based on agile approaches to providing PM solutions
AgileSHIFT – Certification that provides enterprise agility solutions
MSP – Program Management Certification
M_o_R – Risk management
P3O – Project, Program, Portfolio
MoP – Portfolio management
MoV – Value Management
ITIL – IT service management using the ITIL framework
RESILIA – Cyber resilience
Three levels of project management certifications are offered by PRINCE2 2009 certification.
Foundation – Basic level
Practitioners – Highly valued
Professional – Extremely hard & rarely achieved
PRINCE2 2017 includes PRINCE2 Practitioner and PRINCE2 Foundation, along with PRINCE2 Agile.
PRINCE2 Practitioner and PRINCE2 Foundation are the most popular and well-respected certifications.
Axelos revised PRINCE2 guidance