Project management has been one of the most lucrative and in-demand career options for the last many years. This trend is expected to continue in the foreseeable future, and the need for proficient, experienced project managers will soar.
As per research conducted by PMI, employers will require 87.7 million project management oriented roles by 2027. If you are a current or aspiring project manager, choosing the appropriate project management certification right now is going to be definitive for your career in the next many years to come.
Why do you need a Project Management certification?
Project Managers with an industry-recognized certification have the edge over non-certified PM professionals. Certification provides industry recognition and choosing the right certification will help you gain recognition globally across any industry and location.
The most common project management certifications you might already be considering are the PMP (Project Management Professional) and PRINCE2 (PRojects IN Controlled Environments). To know which one’s going to suit your needs, it’s imperative to understand each in a bit more detail.
Fundamentally, the PRINCE2® and PMP® Certification involve two different project management frameworks. Both offer a body of knowledge and a proven approach to managing projects effectively. Picking one over the other is a decision that involves several factors. The ideal choice should be based on the industry or company you are aiming to build a career in, and the type of project you’re planning to lead or direct.
What is PRINCE2?
PRINCE2 is a course that originates and is administered from the UK by the APMG to individuals both in the UK and internationally. It has a sophisticated, well-defined methodology that outlines in detail the steps, templates and processes that a project should follow in order to be delivered successfully within a controlled environment.
It also spells out clearly the roles and responsibilities of a project executive, senior supplier, project manager, financier as well as the senior user. It provides well-defined templates to facilitate smooth execution of the project such as change request form and progress report.
What is PMP?
PMP is a certification that is structured around the Project Management Body of Knowledge (PMBoK). The course measures your ability as a project manager to complete a project based on your experience and understanding of project management. The course is administered from the USA, and has gained popularity in Europe and Asia.
It differs from PRINCE2 as it basically evaluates your skills and mastery of project management. As such, you are required to have some experience in the field, unlike PRINCE2, which can be done by a person who is new to the field.
Which one is better?
Both have its own uniqueness and advantages. It depends on multiple factors which one to choose like:
One has to access its geography (which certification is well known in that area), Industry (which certification is appreciated more in the industry) and local environment of the organization and industry, if s/he targeting for one certification, these questions will answer which one to target for. On a whole both the certifications has abundance of knowledge on Project Management.
Which one to opt for?
After this full discussion we can say that both the certification compliments each other but still different in its own way. Ideally the combination of both is recommended as if you have standard guide clarity and you are having a methodology clarity, you are covering the full circle.
Therefore one should target to do both if one is aspiring or already excelling in the area of Project Management. However if the aspirant/professional want to go for only one, he should access which one is better with the above mentioned criteria and go for the one which will give maximum ROI to the investment s/he will do.
The accreditation you choose should depend on your job prospects, On-Going Projects and the region you are working in. PMP is more understanding based or we can say knowledge-based and PRINCE2 is a process-based framework, during learning you will learn lots of things in PMP training like procurement management, vendor management, supplier management and rest but what if your project doesn't need these things then what? that's why PMP and PRINCE2 are not competing for credentials in all regions. An expert would profit by the abilities and learning that both of these certifications offerings.
For those of you who want to take PMP and Prince2 Certification, please contact us!