Dear Readers, A lot of professionals looking out for a project management certification has been asking me these questions very frequently:
- Should I do PMP or PRINCE2?
- What is the difference between PMP and PRINCE2?
- Which one has more market value between PMP and PRINCE2?
- What is the eligibility criteria for PMP or PRINCE2?
Being certified in both, let me take this opportunity to frankly review both certifications and try to help everyone with the above questions. The below comparison chart gives quick and detailed differences between PMP vs PRINCE2 in terms of the eligibility, cost, study time, examination and structure.
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Adoption: The adoption rate for PMP has been high as compared to PRINCE2. There are currently more than 1 million active PMP certified individuals worldwide.
- In general, the USA and American countries prefer PMP,
- UK, Australia and Europe prefer PRINCE2.
- Asia, Africa and the Middle East area have inclined more towards PMP in the recent times.
Market Value: In terms of the market value, PMP is a clear winner because of the knowledge, time and dedication required for earning it. It took me a week to earn PRINCE2 as compared to PMP where I studied for more than 5 weeks. The way exams are conducted, PMP exam has no place for any fraud as the exams are closely monitored at prometric centers whereas PRINCE2 exam has loopholes and there is scope for fraud. No wonder majority of institutes offer 100% money back guarantee for the same.
The PMP® is recognized the world over as the gold standard in project management.
Knowledge: It terms of the content and knowledge, both PMP and PRINCE2 fulfill the purpose of effective project management equally. There is no clear winner as both tell almost the same story in two different ways.
Job and Salary Prospects: No doubt that PMP is clear winner again.
PMP ranks 5th in Top Paying Certifications (Source: Global Knowledge’s 2017 IT Skills & Salary Survey with an average pay of $119,349.
PRINCE has an average pay of £57,500 which is equivalent to $70,000 (Source: cwjobs.co.uk)
In the end, frankly speaking PMP is the true winner for me. I would leave it up to you to decide between these certifications basis your geographical location, experience, industry etc. I hope this article will help you in taking the final decision. Feel free to Like, Share and comment
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Categories: Project Management
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