The average project manager salary in the US is $89,000. But if you want to earn those sorts of figures, you’ll face tough competition in the job market.
One option to help your resume stand out is to get the most current and in-demand project manager qualifications. You’ve probably heard of the two big ones, PRINCE2 and PMP, but which option is right for you?
Well, we’ve put together this guide to compare both certifications side-by-side. Here are the main differences between PRINCE2 vs. PMP.
What is PRINCE2?
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PRINCE2 initially started life as a UK government-based process for running large-scale projects.
The idea behind PRINCE2 was to standardize the lifecycle of each project so improve quality and reduce problems. Each project using PRINCE2 goes through a framework of “gates.”
The project goes through a checklist at these gates to ensure it meets the criteria. PRINCE2 also has several sub-processes and roles alongside the core framework, e.g., change control and risk management.
The Benefits of PRINCE2
Why do many companies opt for PRINCE2 to manage projects? Here are some of the main benefits and advantages:
- The framework is well-recognized and widespread, particularly in large organizations and within the public sector
- To receive their foundation and practitioner qualifications, project managers go through a high standard of training on a PRINCE2 course.
- The standardized framework means the project plan doesn’t change even if the personnel does
- PRINCE2 helps to manage and reduce risks and avoid unnecessary costs and delays on a project
If you want to know how to use PRINCE2, you’ll need formal qualifications. Here are some PRINCE2 courses you should consider.
What is PMP?
PMP (Project Management Professional) is the primary alternative project management qualification to PRINCE 2. The worldwide PMI (Project Management Institute) governs PMP.
PMP offers various models to manage a project, including the more traditional waterfall approach and the increasingly popular Agile methodology.
The Benefits of PMP?
Before deciding on what project management training you need, you might want to know why other managers choose PMP. Here are some of the main benefits:
- Businesses and employers highly respect the PMP qualification
- Like PRINCE2, there is a standard terminology, which means every qualified PMP manager will operate in the same manner
- The PMP is flexible, offering different planning models depending on what the organization prefers (i.e., waterfall vs. Agile)
- You’ll learn valuable project management skills, such as how to plan a large and complex project effectively
Of course, you could opt to get both PRINCE2 and PMP qualifications. Doing so will give you plenty of future job opportunities.
Key Differences
Both the PMP and PRINCE2 frameworks are popular with employers. As an aspiring project manager, either qualification will help you get that well-paid project management job.
PRINCE2 is more popular than PMP in Europe and Australia. The PMP is the most popular qualification in North America, so that’s something to keep in mind when making your choice.
There is a notable difference in the two approaches to projects, however. PRINCE2 is a clear framework; you’ll need to manage each project in the same standard manner to use it correctly.
The PMP is more of a set of tools and processes, so it’s a more broad training program rather than an applied methodology.
PRINCE2 vs. PMP: Which is Right for You?
When considering PRINCE2 vs. PMP, you’ll probably wonder which option is the best for your career. The best answer is to search for project management jobs locally to survey the most commonly requested certifications.
If you have the funds, it’s undoubtedly worth getting both qualifications, setting you apart from other candidates. Head over to our business section for more tips on preparing for a project management career.
