Project management certifications are a great way to boost your professional career. Two of the most popular, globally-recognized certifications are PRINCE2 Certification and PMP.
But choosing which one to pursue depends on a number of factors, including the organization and industry you’re working in. Here are a few key things to keep in mind before making your decision:
Cost
When it comes to project management, PRINCE2 Certification and PMP both have their merits. However, the choice of which one to choose depends on your experience and interest. It also has to be considered the current demand in the corporate world and your preferred area of work.
Both certifications have a wide range of benefits to offer to both the candidates and the employers. For instance, a certified project manager will have comprehensive knowledge of the project and will be able to determine whether it is viable or not in very early stages of the project. He/she will also be able to use precise methodology for the project.
Hence, it is crucial for every project manager to select the right certification for them. They should understand the difference between these two certifications and the corresponding costs so that they can make an informed decision about which one to pursue.
The cost of a PRINCE2 Certification will depend on the course that you decide to take and the exam that you choose to sit for. A PRINCE2 Foundation certification will usually cost around $365 while a Practitioner certificate will cost $485. Lastly, the cost of sitting for the PRINCE2 exam will vary depending on the region in which you live.
As mentioned above, both PMP and PRINCE2 certifications are internationally recognized. This means that they are widely in demand across the world.
However, the differences between these two certifications can be confusing for some people. To help make this process easier, here are some things to keep in mind when making your decision:
Location
The most obvious factor to consider when selecting which certification to pursue is where you want to live and build your career. Both PRINCE2 and PMP are recognized in the United States, Europe, Canada, Australia, South America, Africa, and Asia, so they are popular globally.
For example, PRINCE2 is more popular in the UK and Europe, while PMP is more popular in the United States.
The second factor to consider is how quickly you want to earn your certification. PMP typically takes longer to earn than PRINCE2 due to the pre-requisites that you must meet. Choosing a certification that allows you to progress faster may be a good idea if you are looking for more growth opportunities in your future career.
Benefits
When it comes to Project Management, two certifications have a high reputation in the industry: PMP and PRINCE2. It’s important to understand the differences between these two and make an informed decision about which one is best for you.
Getting certified as a project manager is a great way to boost your resume and career prospects in the corporate world. The choice between PRINCE2 and PMP depends on several factors, including where you live and your experience level.
In addition to the above considerations, you also need to consider how quickly you want to earn your certification. PMP certification typically requires more prerequisites than PRINCE2 and can take a longer time to complete.
Both certifications provide the same knowledge and skills, but they are based on different methods of project management. For example, PMP focuses on knowledge and techniques, while PRINCE2 focuses on processes and frameworks.
Since both are based on a structured project approach, there’s less room for confusion and miscommunication during the execution of a project. This is why many project managers choose to pursue both certifications simultaneously.
Another benefit of earning both is that it helps to establish a well-rounded project management skill set. This can increase your employability and salary potential in the corporate world, and it will allow you to better manage projects from start to finish.
However, it’s important to remember that both certifications are valid for a limited amount of time. Therefore, it’s important to maintain your credential by completing 60 Professional Development Units (PDUs) every three years.
The costs for a PMP certification can vary from $405 to $555, depending on whether you’re a member of the Project Management Institute (PMI). For a PRINCE2 certification, the cost is typically $365, and it’s only valid for five years.
You’ll also need to pass a qualifying exam before you can receive your certification. The PMP exam is typically a multiple-choice test with some scenario-based questions. The PRINCE2 examination is a series of question-and-answer questions.
Both PMP and PRINCE2 are valuable and respected certifications that offer a wide range of benefits. These include:
Requirements
Both PRINCE2 Certification and PMP certification are widely sought-after globally. They both are valuable assets for anyone looking to pursue a career in project management.
However, choosing between the two depends on your needs. It is also important to consider the type of project you are planning to manage. For instance, PMP is a knowledge-based certification while PRINCE2 is a process-based one. This way, you can choose the best project management method for your specific needs.
Before you can begin the process of obtaining either PRINCE2 or PMP, you must know the requirements for each certification. These requirements include the exam, training course, and cost.
To get a PMP certification, you must pass a four-hour exam that covers five domains of project management: Project Initiation, Planning, Execution, Monitoring and Controlling, and Project Closing. You must pass with at least a 55% score to earn your certification.
When it comes to PRINCE2 certification, there are three levels: Foundation, Practitioner, and Advanced. The Foundation level is for individuals who are only involved in supporting projects and do not plan to lead them. The Practitioner level is for individuals who plan to lead projects in a full-time role.
While the Foundation and Practitioner certifications are good for gaining recognition on your own, they are not enough to gain employment. To succeed at these certifications, you must undergo extensive training and take a comprehensive examination.
Getting the PRINCE2 certification involves a lot of preparation and hard work. It takes about a week to complete the course and prepare for the exam. In addition, it is important to study the course material on your own as there will not be an instructor present to assist you with any questions or doubts that may arise during the course of your study.
The Foundation level of PRINCE2 is a great way to start if you are just interested in acquiring the knowledge and skills needed to become a project manager. The Practitioner level is a more comprehensive training and exam option that is ideal for professionals who are ready to lead projects.
Exam
When it comes to project management, there are two main certifications you can choose from: PRINCE2 and PMP. Both are important in helping employers see you as a competent project manager. However, they have different scopes and approaches. You should carefully consider the exam requirements of each before making a decision.
Aside from the certification, you must also consider your career goals and your current experience. If you’re a project manager who has less than three years of experience, PRINCE2 may be the better option for you.
If you have more experience and want to advance your career, consider pursuing a PMP certification. This will allow you to earn more money and expand your responsibilities.
The PMP certification is a four-hour test, and it’s split into five major domains: project initiation, planning, execution, monitoring and controlling, and closing. In addition, it tests your skills in areas like risk identification and quality management.
While the exam isn’t as long as PRINCE2’s Foundation exam, it still requires a significant amount of preparation. You should create a study schedule and prepare for the exams ahead of time, so you can maximize your score.
It’s also important to remember that both certifications have different exam formats and passing criteria. The PMP exam takes four hours, and it contains 200 multiple-choice questions.
In addition to the exam, you’ll also need to attend a project management course. This will help you learn the theory behind the exam.
Both certifications require a large amount of study, and they require dedication. You must be prepared to answer all the questions within your time limit.
Aside from that, it’s a good idea to create a study schedule and prioritize certain topics. This will help you pass the exam without wasting any time.
Another benefit of the PMP certification is that it has a 5-year shelf life, so you won’t have to renew it. It also has more PDUs than the PRINCE2 certificate. You can earn 60 PDUs every three years to keep your credentials active.
Both PRINCE2 and PMP are widely recognized by organizations across industries. However, a PMP certification is more beneficial because it gives you more knowledge and techniques to manage projects successfully.
