PRINCE2 vs PMP, Which Certification is Better for You?
In this article, we will make a detailed analysis of the PRINCE2 vs PMP Certification topic from salary prospects and industry needs points of view. Professionals working in the project management field usually wonder about how to become a certified project manager. To that end, they attend many courses, certification programs, and workshops to improve their knowledge and become more effective in their field of business. Although both PMP and PRINCE2 certifications serve the same purpose, a large number of project management practitioners ask us to make a comparison between PRINCE2 and PMP. Here we cover the following;
- What is the Difference Between PRINCE2 and PMP?
- Which certification is more applicable to my business field?
- Which Project Management Certification is Best for Me?
Keep on reading to explore how the certifications might change your life.
PRINCE2 vs PMP Comparison
Although both PMP and PRINCE2 certifications serve the same purpose, there are some significant differences. Both of them recommend systems and approaches for managing projects successfully but their methodologies are different. Therefore, it is not easy to say that one of them is better but the other one is not. Because there are several factors affecting the decision.
The choice should be based on the industry, organization, and type of the project. Before making a PRINCE2 and PMP Comparison, let’s take a look at both certifications.
The (PMP) Project Management Professional Certification
The PMP Certification (Project Management Professional), administered by the Project Management Institute (PMI), is a well-known certification program that endorses an individual’s knowledge and experience in project management.
PMI (Project Management Institute) is a professional membership association for the project management profession which was founded in 1969 in Pennsylvania as a non-profit organization. The PMP certification provides a wide spectrum of practices and principles for the project management field. The PMBOK Guide, which is the reference document of PMP, is organized by project management processes and knowledge areas.
Project managers in many industries are willing to get the PMP to obtain many benefits such as earning high salaries, having better job opportunities for the professionals.
The PRINCE2 (Projects In Controlled Environments) certification administered by the APMG (Accrediting Professional Managers Globally) in the UK.
PRINCE2 is a widely adopted project management method used by professionals. It provides basic principles, schemas, templates, frameworks, themes, and processes to guide project teams across all industries.
Those principles can be implemented for any type of project. The responsibilities and roles of each team member are clearly defined in this system.
Unlike PMP, PRICE2 is a practice-driven method for project management that has seven key processes and principles that guide project managers during the project lifecycle.
Below are the seven principles of PRINCE2;
- Continued Business Justification
- Learn from Experience
- Defined Roles and Responsibilities
- Manage by Stages
- Manage by Exception
- Focus on Products
- Tailor to the Project Environment
PRINCE2 vs PMP Certification: Industry Needs
Some industries prefer PRINCE2 certified project managers, others prefer PMP certified ones. Each certification is in higher demand in some countries and regions. If you are working in the UK, Australia, and Europe you can prefer PRINCE2.
In the same way, if you are working in the USA, Canada, and the Middle East, having a PMP credential might be better for you. In some regions like Asia, Africa, and the Middle East you can prefer both of them.
According to the researches, having a project management certification like PMP and PRINCE2 provides you a better job and salary.
Additionally, you become a member of communities that brings you networking opportunities when you get certified.
Now let’s review the topic PRINCE2 vs PMP from a salary prospects point of view.
PRINCE2 vs PMP Certification: Salary Prospects
Surveys and researches show that any employee in any industry can have a higher salary if he/she gets a professional certification. According to the PMI Project Management Salary Survey, an average annual salary of a PMP certified professional is between $100,000 – $110,000 in the USA. Whereas an average annual salary of a PRINCE2 certified professional is around £ 50,000 ($77,500) in the UK.
What is the Difference Between PRINCE2 and PMP?
Below are the key differences between PRINCE2 and PMP Certification.
- The PRINCE2 provides a methodology to complete to perform and complete the project. Conversely, the PMP provides techniques tools, and frameworks to perform and complete the project.
- PMBOK Guide is the reference book of PMP, PRINCE2 Manual is the reference book of PRINCE2. Their contents and principles are different.
- The PRINCE2 has 3 qualification levels.
1. PRINCE2 Foundation
2. PRINCE2 Practitioner
3. PRINCE2 Re-Registration
- PRINCE2 and PMP eligibility requirements are different.
- PRINCE2 and PMP examination formats are different. Exam duration, number of questions, passing percentages are different.
- PMP and PRINCE2 have different terminologies and methodologies.
- 60 Professional Development Units are needed every three years to maintain the PMP certification. On the other hand, candidates do not need to renew their PRINCE2 certificate. The PRINCE2 Practitioner qualification is valid for 5 years, and to renew it candidates have to pass the exam called “PRINCE2 Re-Registration” within 3 to 5 years.
PRINCE2 or PMP: Which Certification is Best for You?
In this article, we make a PRINCE2 and PMP Comparison. The fundamental difference between them is their techniques and approaches. Both certifications have pros and cons and both the credentials play an active role in the recruitment process of organizations. In the UK, Australia, and Europe PRINCE2 is more popular than PMP. On the other hand in the USA, Canada, and the Middle East, PMP is better than PRINCE2.
This means you have a higher chance of having a better job in the UK if you have PRINCE2. On the other hand, if you have the PMP, you can find better jobs in the USA.
Some industries prefer PRINCE2 certified project managers, others prefer PMP certified ones. Selecting PMP or PRINCE2 is based on your region, industry, and business field. It is a good idea to collect enough information and make research before selecting one of these certifications because choosing the most suitable one will boost your career.
I am a Civil Engineer in HES Consultancy Limited, experience as Director and Resident of Works and Technical, Financial and Administrative Project Audit. I have skills in the area of Procurement, Tenders and Contracting. I am PMP and PRINCE2 Certified. Monitoring and Control with the Earned Value Method.