However, both are equivalent in terms of value and can help in taking your career forward. CAPM & PMP certifications are based on PMBOK® the Project Management Book of Knowledge guide. This course, administered by PMI in the USA, has also gained popularity in Europe and Asia. The PMP is related to the knowledge and skills necessary to successfully manage a project and its delivery. Apart from these, there will be some other topics as well which are directly associated with project management such as quality, materials, and risk management etc. Read on to make the right choice! The same survey also found that the highest pay scale of a Prince2 Project Manger was around $45,000. PMP & PRINCE2 are two well-known certifications in the field of Project Management. Spells out the roles and responsibilities of each member of the team tasked with managing the project. Please watch this video, to get idea on these two certifications. PRINCE2 is focused mainly on the processes and the framework to execute specific types of projects in controlled environments successfully. Benefits of Getting a PMP vs. Getting a PRINCE2. Much has been written on Bright Hub about the Project Management Institute and PRINCE2 and their best practices and certification levels. The Practitioner exam, however, is valid for 5 years, after which it will become invalid. Lucy Brown-August 9, 2016. But … It largely depends on the test center you are opting for appearing in the exam. PRINCE2® is a process-based methodology providing detailed guidance on delivering a successful project with processes, steps and templates; while PMP® project management methodology is primarily based on the PMBOK® Guide (A Guide to the Project Management Body of Knowledge, published by PMI) which is a collection of good practices detailing the project management standards and necessary … Conflicting language: The two courses use different terminologies, which can be confusing at first. In most areas of the world, project management certification is a choice between these two. 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. First let’s analyze the benefits of PMP certification. One important difference and probably a point in favor of the exam is that PRINCE2 as a certification is entirely methodology-based (PMP is knowledge based and IPMA is competence-based) and is therefore easier to apply when working as a project manager. The PRINCE2®, or ‘Projects IN Controlled Environments' certification, is a process-based project management method that offers a systematic approach to delivering a successful project with clear templates, processes, and steps. The demand for the certification varies both industry wise and on the location. The PMI Project Management Salary Survey – Tenth Edition, states that the salaries of project managers around the world continue to climb.In the US alone, the average annual salary of a certified PMP® is $112,000 per year. The Practitioner exam is an objective, scenario-based paper. The passing percentage is 50 in foundation and 55 in practitioner level exams. The knowledge areas of the PMBOK are very similar to those of PRINCE2 so choosing which is best based on organizational specifics may not always be the only thing to consider. As of March 2018, there are about 830,000 PMP certifications worldwide, growing at a rate of about 14% per year. If we look at this comparison along with the details of certifications discussed in the last section, its very clear that CAPM & PMP is in line with each other whereas PRINCE2 is altogether different thought process. Both certification … Is the question that many project managers have in their mind, before they decide on their project management certification path. PRINCE2 Vs PMP – Which Certification Better? PRINCE2 Vs PMP – Which Certification Better? PMBOK and PMP are better known in the USA, Canada, Middle East, and Australia, while PRINCE2 is better known in the UK, Europe, and Australia. Do not think that PMP and Prince2 are pitching against one another, but you will need both to implement your project framework. PMP ® vs PRINCE2 ®: Certification Bodies. Therefore, one can say that there is almost an equivalent distribution amongst the various regions regarding the first choice of the certification. Secondary degree (high school diploma, associate's degree or the global equivalent), 7,500 hours leading and directing projects, 4,500 hours leading and directing projects. A candidate perusing Prince2 certification is tested on various levels. Both offer a body of knowledge and a proven approach to managing projects effectively. Cost of the PRINCE2 for Foundation and Practitioner together along with Training would be between $1200 and $2000Cost of PMP® Exam along with PMI membership is $555/- and Training cost varies between $800 and $1200/-4-5 day intensive classroom training and 40 hours of self study is required. With a total of 200 questions, the PMP® exam lasts four hours and is split into the areas of Project Initiation, Project Planning, Project Execution, Monitoring and Controlling, and Project Closing. Irrespective of the certification, a certified project management professional can demonstrate high PM skills. While the former focuses more on the perspective aspects of knowledge, the later resorts to a more vivid technique. pmp or prince2 certificate? For the Foundation level, you need to deposit $365 and for the Practitioner level, it is $485. Therefore, it is important to have an extensive knowledge of these courses and then choose one which is best for your career. These certificates are globally recognized and will help you attain the best paying jobs as project managers. A project management and digital marketing knowledge manager, Avantika’s area of interest is project design and analysis for digital marketing, data science, and analytics companies. There are also specific benefits that come with each certification. Any candidate, who enrols for a professional course or a certification, does so with an intention to get a higher pay. ), at $130,000. Different Techniques: Some techniques differ vastly, such as the categorization of risk. Having a project management certification, especially ones like PRINCE2® and PMP®, signifies that an individual knows and understands the universal language of project management. And by the way, the accelerated training organizations are allowed to set their own prices; that’s why you see different prices in different websites. April 20, 2017 PMP® ( P roject M anagement P rofessional) Certification and PRINCE2® ( Pr ojects in C ontrolled E nvironments, ver. The cost of the PRINCE2® to exam varies according to the region you are taking the exam in. PRINCE2 ® vs PMP ®. Although the number of PRINCE2 Practitioner certifications are not published, Axelos claims that PRINCE2 is the world’s most widely-adopted project management method. PRINCE2 qualifications are provided by PeopleCert on behalf of AXELOS. Hi Rajib – Project management certification serves as testimony for your competence and surely, gets you the attention. The certification course covers a wide spectrum of project management techniques and competencies that are necessary for any project manager and can help increase your earning potential. But the practitioner level certification is valid for a period of five years. There is a set of prerequisites that one will need to meet to take up the PMP® exam. The cost of the PMP® exam - though a little expensive - is well worth the investment. Here questions will be related to planning, implementation and controlling the project. PMP® Vs PRINCE2® in UK. PRINCE2 defines the roles of everyone involved in a project whereas PMP Focuses on the project manager's role A professional who is looking forward towards gaining proficiency in project management approach with a project team point of view can opt for PRINCE2 Certification. However, be a little cautious while registering for Prince2 exam as you cannot do so directly at AXELOS. The Prince2 Certification has been readily categorized into three categories based on their levels of toughness. According to a survey conducted by the PMI, male PMP®professionals in the U.S. earn $116,000 while female PMP® professionals earn $105,000, about $11,000 less than their male counterparts. They earn an average of 20% more than their non-certified peers. An Introduction to Project Management: A Beginner’s Guide, PMP® Vs PRINCE2® Vs CAPM®: Which One's Right for Me, Structure of PRINCE2: Its Benefits in Project Management, Build a Strong Project Management Foundation, Big Data Hadoop Certification Training Course, AWS Solutions Architect Certification Training Course, Certified ScrumMaster (CSM) Certification Training, ITIL 4 Foundation Certification Training Course, Data Analytics Certification Training Course, Cloud Architect Certification Training Course, DevOps Engineer Certification Training Course. This website or its third-party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the cookie policy. On the other hand, Prince2 is more popular in UK, Australia and other countries of the European continent. PMP® and PMI® have registered trademarks of the Project Management Institute, Inc. Well, these certifications are provided by the prominent certification bodies of project management and are equally prestigious. PRINCE2 vs PMP is the wrong question to ask. One can use different methodologies and tools (e.g., agile, waterfall, PRINCE2) to implem… PMP, CAPM & PRINCE2 are three certifications in the field of Project Management. Secondly, it gives due importance to the particular techniques adopted for completing the project. When people are talking about PRINCE2 certifications, they usually refer to the PRINCE2 Foundation and PRINCE2 Practitioner. By Simon Buehring on 20 Mar 2020. These certifications can be used by the employers to assess your understanding on Project Management concepts and how to apply them throughout the project management life-cycle. It includes-, Out of the three, the Foundation and the Practitioner levels are the most important and popular amongst the candidates. But for many of us, PMP is the most popular and known project management certification. You have to attend about 75 MCQs and the time allotted is one hour. Check out the Simplilearn's video on PMP® certification training course. Therefore, it is advisable that you do both of these certifications as it helps in the development of the professional's excellent project management skills. Although the certification bodies, Axelos and the Project Management Institute (PMI), tend to play friendly with each other, they are competitors. A serious applicant should know the differences between each certification and must plan their next step keeping their career goals in mind. PMP & PRINCE2 are two well-known certifications in the field of Project Management.