1. Prince2 Templates
2. Prince2 Manual Pdf
3. Prince2 Project Management Methodology
4. What Is Prince2 Project Management

1.1 The purpose of This manual. PRINCE2 (Projects in a Controlled Environment) is a structured project management method based on experience drawn from thousands of projects – and from the contributions of countless project sponsors, Project Managers, project teams, academics, trainers and consultants. Project Management Principles - Free eBook in PDF Format. A project is a temporary endeavor designed to produce a unique product, service or result. It has a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives. PRINCE2 is a project management method that can be used for any project, from running a 1 day event to building a nuclear power plant. PRINCE2 is widely recognised (#1 project management certification) can be used in both the public and private sectors.

Project management has been one of the most lucrative and in-demand career options for the last many years. This trend is expected to continue in the foreseeable future, and the need for proficient, experienced project managers will soar.

As per research conducted by PMI, employers will require 87.7 million project management oriented roles by 2027. If you are a current or aspiring project manager, choosing the appropriate project management certification right now is going to be definitive for your career in the next many years to come.

Why do you need a Project Management certification?

Project Managers with an industry-recognized certification have the edge over non-certified PM professionals. Certification provides industry recognition and choosing the right certification will help you gain recognition globally across any industry and location.

The most common project management certifications you might already be considering are the PMP (Project Management Professional) and PRINCE2 (PRojects IN Controlled Environments). Willy wonka website games. To know which one’s going to suit your needs, it’s imperative to understand each in a bit more detail, including their demand across geographies, and the career prospects after getting certified.

PRINCE2 vs. PMP:

Before we get into the differences between the two certifications, let’s begin with a brief introduction of each certification.

What is PRINCE2?

PRINCE2 stands for “PRojects IN Controlled Environments.” The British central Computer & Telecommunications Agency originally established it for Information Technology projects in the year 1989. Later, PRINCE2 was released in the year 1996 as a methodology with the inputs from 150 European organizations. Currently, PRINCE2 certification is owned by Axelos, UK. Axelos (www.Axelos.com) was formed in 2014 with a joint venture of the UK government and Capita (a public company).

Video credits: Axelos Global Best Practice

PRINCE2 project management is a process-based methodology for projects. It offers the official manual “Managing successful projects with PRINCE2” for the practitioners following PRINCE2.

PRINCE2 integrates with some of the globally known and practiced IT frameworks including ITIL. This makes it more applicable in the techno-driven environments, where technology is embedded into the fabrics of the new generation IT organizations. As per the Axelos report 2016, 90% of the PRINCE2 practitioners value the certification for their career progression.

What are the different PRINCE2 Certifications?

PRINCE2 offers the following certifications-

1. PRINCE2 2009 - Certification for Project Management

2. PRINCE2 2017 - Certification for Project Management with tailored consideration including Agile

3. PRINCE2 Agile – Based on agile approaches to provide PM solutions

4. AgileSHIFT – Certification providing an enterprise agility solution

5. MSP – Program Management Certification

6. M_o_R – Risk management

7. P3O – Project, Program, and Portfolio

8. MoP – Portfolio management

9. MoV – Value management

10. ITIL – IT service management based on ITIL framework

11. RESILIA – Cyber resilience

PRINCE2 2009 certification offers three levels of project management certifications –

1. Foundation – Basic level

2. Practitioner – Significantly valued

3. Professional – Extremely difficult & seldom accomplished

While PRINCE2 2017 comprises of PRINCE2 Foundation and practitioner along with PRINCE2 Agile scheme.

PRINCE2 Foundation and PRINCE2 Practitioner are the most common and widely accomplished certifications.

Axelos revised the PRINCE2 guidance and certification scheme last year 2017 to accommodate changes related to tailoring considerations. From, 1 January 2018, Axelos has mandated all the English versions of Foundation & Practitioner exams to be based on the 2017 edition. Hence, going forward PRINCE2 2017 started offering four different certification exams in the English language –

1. PRINCE2 2017 Foundation Examination

2. PRINCE2 2017 Practitioner Examination

3. PRINCE2 Agile Foundation Examination

4. Download game need for speed most wanted 2005. PRINCE2 Agile Practitioner Examination

Axelos is not a training organization, and hence, PRINCE2 certifications are public domain. However, training on PRINCE2 certification modules can be obtained from training partners. Training fee varies and is based on accredited training providers (ATO).

What is PMP?

PMP certification is a popular certification among project management professionals, which is administered by PMI (Project Management Institute), USA.

PMI is headquartered in Philadelphia, USA and was founded in 1969 (www.pmi.org). It is the world’s leading not-for-profit membership association for the Project Management profession.

PMP stands for Project Management Professional. PMP certificate is most popular in the USA, Australia, and America. However, it is valued worldwide within the project management domain. The PMP certification exam structure is primarily based on PMBOK. PMBOK guide is also called as a bible for project managers and stands for Project Management Body Of Knowledge. The latest PMBOK Guide 6th Edition was published in Sep’17.

What are the different certificates accredited by PMI?

Below is the list of certifications offered by PMI:

1. Program Management Professional (PgMP)

2. Portfolio Management Professional (PfMP)

3. PMI Professional in Business Analysis (PMI – PBA)

4. PMI Risk Management Professional (PMI – RMP)

5. PMI Scheduling Professional (PMI – SP)

Top 10 Differences between PRINCE2 and PMP

You may also like: PMP FAQs: All that you need to know about PMP (Part 1)

Which Project Management Certification is in demand across geographies?

The popularity of PRINCE2 certification has gone up in some Asian regions especially, India by 86% from the year 2012 to 2014 as per the ATO (Accredited Training Organization) reports from Axelos.

You may also like: Roles and Responsibilities of the Project Manager & Project Management Team

Career Prospects

A career in the project management field is highly prospective. According to the PMI report, there is expected substantial job growth for project-oriented roles. The report highlights the following region-wise statistics depicting project-oriented job requirements by the year 2027 compared to 2017:

Image Source: PMI job growth report 2017 - 2027

Based on the same report, employers would require to fill about 2.2 million new project-oriented roles on an annual basis through the year 2027.

However, with the increasing job prospects in project-oriented roles, a lot of challenges are yet to be addressed by aspiring project managers. The importance of certifications in project management is becoming paramount and mandatory for a rewarding career. Hence, certified project management practitioners are going to benefit in the long run in their career.

You may also like: Top 30 Project Management Interview Questions and Answers (updated for 2018)

Based on the region of work, the preference of the certification is the obvious choice among project management professionals. However, below is the comparison of the very recent salary data in the USA, UK, and India based on the certification choice of PM roles:

Table Data Source: www.payscale.com (Most recent data) – PMP certified salary vs. PRINCE2 certified salary

Table (2018): Comparison of Salaries of Project management professionals with certificates PRINCE2 & PMP among regions- USA, UK & India

A PMP certified project manager salary is a little more in comparison to PRINCE2 for the same project roles. But, this doesn’t affect the popularity of any of these certifications. They are equally valued and preferred by industries. Irrespective of the certification, a certified project management professional can demonstrate high PM skills.

Exam Prerequisites

Prince2 Templates

Prerequisites/ Eligibility

How to register?

Examination cost

Examination Structure

Passing Criteria

Prince2 Manual Pdf

Prince2 Project Management Methodology

Certification validity

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PMP certification cost:

Project management certification costs you around USD 555 for exam fee & PMI membership cost is USD 139 along with about USD 800 – 1200 for formal PMP classroom training.

Takeaway

What Is Prince2 Project Management

Both the certificates are valuable within the project management fabrics. However, they can be preferred over the other based on geographical distributions. Both the certifications have been tested for years of project successes. PMP is knowledge-based, while PRINCE2 methodology is process-based for uncovering the best-proven practices in project management. To excel in the project management area, one needs to have both kinds of exposure. Thus, I would say both PMP & PRINCE2 are not competitors. Rather they complement each other. PMP equips you as a knowledge-driven project manager with the “HOW” of project management. While, PRINCE2 deals with WHEN, WHAT & WHOM. To advance your career as a proficient project manager, you can opt both. And make yourself a globally valued project manager.