Prince2 Vs PMP: Which one to Choose?
Project management is one of the most in-demand and lucrative career options for the past many years. The demand for this career option will continue to grow in the future. To establish your career in the project management field, you need a professional Project management certification to validate your skills and make your resume stand out from the competition.
The project management framework can be applied to companies of varying sizes, locations, and industries. Every project management certification has its own framework and methodologies. With a myriad of options available for the candidates, it can be difficult to choose the best project management certification. Here, we will compare the two most popular project management frameworks: Project IN Controlled Environments 2 (PRINCE2) vs Project management Professional (PMP). Both the frameworks are widely implemented by companies across the globe and provide candidates with hands-on practical knowledge.
What is PRINCE 2?
PRINCE2 or Project IN Controlled Environment 2 is a process-based project management methodology. This methodology was released in the United Kingdom in 1996 and is based on the experience and knowledge of real-world organizations. The first iteration of this methodology was created by combining the input from around 150 European countries. The framework can offer valuable insights that the candidates can use immediately in their job. The framework is regularly upgraded and provides the users with the latest insights on the best practices in project management.
The PRINCE2 methodology is built in a way that allows integration with other frameworks like ITIL4. This makes PRINCE2 an amazing option for tech-driven organizations that are following a set methodology.
What is PMP?
PMP or Project Management Professionals is another popular experience and knowledge-based certification administered by Project Management Institute. The framework is based on the Project Management Body of Knowledge (PMBOK) Guide. The set of tools, techniques, and insights in this certification are updated based on the expertise of project management.
The content in this certification is updated so often that the candidates are needed to update their knowledge every few years to stay updated.
When choosing the framework, the first thing that one should consider is the demand for the certification in your location. There may be a regional variation in the demand for a particular type of certification. Hence, local preference can be a huge deal-breaker for the new project management candidates.
While both the certifications are recognized globally, there can still be a regional variation in demand for each. Such as:
Many surveys and studies have proved that certified professionals in project management can earn a lot more than non-certified professionals. Having a professional certification ensures that the individuals are well-equipped with the universal language of project management.
According to the Project Management Salary survey, the average annual salary of a PMP certified is $112,000 per year and they are earning at least 20% more than a non-certified project manager. However, the average annual salary of a PRINCE2 certified professional is around $90,000.
So here, is a comparison between the two most common project management certifications. As it is clear that both the certifications have almost the same demand, you can choose the best depending on the demand in your location and your personal preference.
However, If you are still confused after comparing both the certifications PMP Certification or Prince2 Certification, you can discuss both the frameworks with your colleagues and managers. They can tell you which certification you should choose.