Introduction

Welcome to a comprehensive discussion on a PRINCE2 certification. For several years, project management has been one of the most profitable and in-demand job opportunities. This development is projected to persist shortly, resulting in a surge in the demand for competent, skilled project managers.

Employers would need 87.7 million project management-related jobs by 2027, according to the PMI report. If you are a current or potential project manager, selecting the best project management degree now would have a significant impact on your future in the coming years. In this article we will discuss prince2 certification, prince2 vs pmp, best project management certification and, prince2.

In this article let us look at:

  1. What is the Key Difference Between PRINCE2 Vs PMP?
  2. The Project Management Professional (PMP) Certification
  3. The Projects in Controlled Environments – PRINCE2 Certification
  4. PRINCE2 Vs. PMP: Salary Prospects
  5. Benefits of Getting a PRINCE2 Certification Vs. PMP Certification

1. What is the Key Difference Between PRINCE2 Vs PMP?

First and foremost, when it comes to choosing one, you should know that all certifications have a standard approach and best practices for project management success. However, which one you choose is based on several important factors such as the industry in which you have experience, the future companies you want to work for, and the types of projects you will be handling. We also know that the PMP architecture can be used in an Agile environment. However, this is only possible if the boss has the necessary skills and experience. PRINCE2 Agile Foundation & Practitioner, on the other hand, is a modern stream of agile methodologies from PRINCE2.

PRINCE2 is an approach that includes a comprehensive process model and templates. It provides step-by-step instructions on how to organize and manage a project. It’s more realistic than the PMBOK, in my opinion. It must also be customized to the requirements, so it is more like a textbook than a reference guide. It concentrates on a small number of techniques.

2. The Project Management Professional (PMP) Certification

The PMI association stands for Project Management Institute. PMP stands for Project Management Specialist, as it is their professional qualification. PMI certificates validate your project management skills and expertise, allowing you to be more secure at work and more competitive in the job market.

Project management experts are needed in every industry. The criterion is in terms of competence qualifications, which vary by industry and geographical location. According to a PMI survey study from 2014, project management professionals will be in high demand.

The method of arranging, coordinating, encouraging, and managing capital to accomplish goals is known as project management. The most difficult aspect of project management is achieving project priorities and targets while having the project scale, time, efficiency, and expense in mind.

3. The Projects in Controlled Environments – PRINCE2 Certification

AXELOS also owns PRINCE2, a process-based technique. One of the most lasting attractions of PRINCE, which was first published in the UK in 1996, is that it has always been focused on the expertise and understanding of real-world organizations. A group of 150 European companies contributed to the first version of the framework. As a result, the system will provide useful practical guidance that many students find readily applicable in their day-to-day careers. The PRINCE2 body of expertise is revised regularly, giving consumers the most up-to-date information on project management best practices.

PRINCE2 is a high-level, generic concept of concepts that can be applied to most programs, regardless of their scale, function, sector, or other factors. Its streamlined approach can be tailored to meet the needs of specific programs, and its precisely specified functions, tasks, and plans help to improve both transparency and teamwork.

4. PRINCE2 Vs. PMP: Salary Prospects

According to some reports and polls, project management experts who are accredited receive far better than their non-certified counterparts. 

According to the PMI Project Management Salary Survey – Tenth Edition, project managers’ wages are continuing to rise across the world.

The benefit 20% higher on average than their non-certified counterparts. The highest annual salary for PMPs is $130,966 in Switzerland.

5. Benefits of Getting a PRINCE2 Certification Vs. PMP Certification

Obtaining the PMP certification has several advantages.

  • Better Salary Possibilities: Non-certified PMP professionals receive more substantial and regular salary increases than certified PMP professionals.
  • Opportunities for Networking: It is advised that you join PMI to receive a PMP certification. You will have access to a large network of practitioners with common credentials until you become a member. 
  • Possibilities for Jobs: The PMP certificate is recognized and trusted by employers all over the world as the most common project management qualification.

Extensive Body of Knowledge: Obtaining the PRINCE2 certification has several advantages. 

  • The PRINCE2 body of information gives certification holders the resources they need to evaluate a project on both sides to ensure its success before it begins. User expectations and future risks are taken into account, meaning that a project that will inevitably face challenges is tackled during the planning phase.
  • Methodology: Since the PRINCE2 certification has a well-thought-out methodology, it saves a lot of time and effort while doing a specific project.

Conclusion

This brings us to the discussion on PRINCE2 certification. So, when it comes to choosing a qualification program like PMP and PRINCE2, the decision is yours. Both have promising careers ahead of them and will contribute to your bright future. However, the decision can be taken only after all relevant considerations have been considered. The accreditation you select should be based on your career goals, ongoing projects, and the area in which you serve.

PMP is a knowledge-based system, while PRINCE2 is a process-based framework. Through PMP preparation, you can learn several topics such as sourcing management, manufacturer management, supplier management, and so on, but what if your project doesn’t need these things? As a result, PMP and PRINCE2 do not compete for certification in all areas. Any of these certifications provide skills and knowledge that a specialist will benefit from.

Interested to learn all about Product Management from the best minds in the industry? Check out our Product Management Course. This 6-month-long program takes place online through live instructor-led sessions. It is the only program in India that offers the ‘Bring Your Own Product (BYOP)’ feature so that learners can build their product idea into a full-blown product, and go through an entire Product Development lifecycle. Not only this, but this is the only program in India with a curriculum that conforms to the 5i Framework. Post completion, learners receive a joint certification from the Indian Institute of Management, Indore, and Jigsaw Academy. 

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