Introduction

PRINCE2 and PMP are two of the most popular project management frameworks adopted across the world for project management practice. PRINCE2 takes different approach to PMP but both aims are to improve the project performance and eventually success rate. Becoming a certified project manager would add a value to your career, not only upgrades your skills to improve project performance but also enhances your career prospects.

Certification Overview

PMP is administered by PMI, USA and is a knowledge-based approach to project management, explains “what should you know” to enable you to manage project with good practices. It is a descriptive framework that explains the knowledge areas, such as scope, time management etc.in detail with good practices. Each knowledge area can be referred in isolation. PRINCE2 is administered by AXELOS, UK and is a process-based project management methodology, it explains “what should you do” to manage successful projects. It is a prescriptive framework that captures best practice and tells you what to do. PRINCE2 focuses on processes for starting, controlled execution and closing of projects and an integrated set of process and themes, which can’t be used in isolation as well as mandatory 7 principles which should be followed

Certification Prerequisites

There are no prerequisites for the PRINCE2® Foundation level. The Foundation level or PMP certification are prerequisites for the Practitioner Level. There is also no mandatory relevant work experience required. The requirements for PMP include a 4-year degree and at least 3 years of project experience with 4500 hours of leading a project along with 35 hours of contact hours training or a secondary degree and at least 5 years of project experience with 7,500 hours of leading a project  along with 35 hours of contact hours training in project management.

Certification Cost and Duration

The cost of PMP training ranges between $1200 and $1500 for a 4-5 day workshop including the exam fees of $555 for non-PMI members. The cost of PRINCE2 Foundation and Practitioner ranges between $1200 and $1800 including the exam fees.

Certification Renewal After earning the PMP certification, credential holders have to earn 60 Professional Development Units (PDUs) over a 3 year cycle period to renew the certification; there is no requirement to resit for the exam for certification renewal.PRINCE2 credential holders have to sit for a re-certification exam once every 5 years to renew their license.