Managers all over the world now recognise that in order to see a project through to successful completion, they must learn and apply the latest project management tools and techniques. Without a doubt, PRINCE2 and PMP are two of the most widely accepted project management certifications courses in the world today. While both are designed for project management and are aimed at improving project performance, the two approaches are complementary in their approach.
PRINCE2 is a practical, process-based methodology which lays out step-by-step guidance for project progress, and defines clear processes, steps and templates. PMP is not a project management method in itself but it demonstrates the efficiency and competence of the project manager.
The underlying principles of PMP are based on the Project Management Institute’s A Guide to the Project Management Body of Knowledge, (PMBOK® Guide). The PMBOK® Guide outlines all the tools and techniques of successful project management.
PRINCE2 methodology was originally developed as part of a suite of best practice products created by the Office of Government Commerce in the UK. It has gone on to become the de facto standard in the country, but is also much valued worldwide because of its practicality and scalability. This certification enjoys a strong presence in Europe, Australia and other countries outside North America.
The Project Management Institute is based in the US and as such the PMP is the predominant certification in the US. It is one of the most widely recognised project management qualifications in the world, and is especially popular in Asia and Europe.
The PMI certification is divided into disciplines such as Project Management (PMP), Program Management (PgMP), and Portfolio Management (PfMP). Management Professionals who have successfully completed the course may apply the necessary certification based on their discipline. The PRINCE2 certification has various levels which start from the basic Foundation level. The certification disciplines associated with the PRINCE2 program are PRINCE2, MSP (Managing Successful Programs), and MoP (Management of Portfolios).
To sum up, a successful all-round manager should ideally combine the theoretical knowledge and competencies gained from PMP, with the step-by-step methodology learnt from PRINCE2 to ensure that the project is successful!