Conditions Apply

Search

Prince2 Filter

The Underlying Idea Behind PRINCE2® Methodology

PRINCE2® stands for Projects in-Controlled Environment. PRINCE2® is a process-based project management methodology that means PRINCE2® certified project management experts are not just projecting implementers but serious planners and contributors whom even the top management of an organization can trust with a whole new project. The original version of PRINCE methodology was updated in 1996-97; so, the new version becomes PRINCE2®. The methodology provides ways to simplify any types of project in several sub-modules so that the project management team can organize and control the whole project systematically.PRINCE2® methodology starts with some basic questionsAs said before, PRINCE2® methodology tries to simplify the project by segregating it into several parts and then integrating each part setting proper logic. The PRINCE2® methodology starts with some basic questions. These questions help to include all visible and invisible matters together:What we have planned to do?What is the expected date of starting the project?What arrangement does this project need?Is it possible to accomplish everything with the current availability of in-house resources or some external help is necessary?How much time the whole project can take?If more time is required, then how much further can it be stretched?What will be the maximum cost of the whole project?These questions form the foundation of a project. Many unknown or primarily suppressed aspects come out one by one while answering these questions. Hence, in the PRINCE2® methodology, a project always starts with these questions. The PRINCE2® methodology attributes a proper structure for every project. It defines it step by step so that everyone involved understands their roles, responsibilities, and limitations. PRINCE2® makes everything logical and organized.The pillars of PRINCE2® FrameworkIt is obvious that an unstructured, uncontrolled project goes nowhere. It destroys an organization’s precious resources and money. These types of unstructured, uncontrolled projects do not finish in time or within the assigned budget. Thus, PRINCE2® methodology provides a framework to channelize the resources, ideas, energy, money, and time. There are three pillars of the PRINCE2® framework:A project should have a planned and controlled start – A project should be well-planned with all the above-mentioned questions answered before starting it.A project should have a planned and controlled middle – While work-in-progress, the project should follow a predetermined path.A project should have a planned and controlled end – When the mission is accomplished it is necessary to reconcile everything systematically.Principles of the PRINCE2® methodologyThe entire PRINCE2® methodology is based on the following principles:Project undertaken should have proper justification with respect to the business: The project should be properly justified at any point in time. The project manager should be optimistic about its benefits and risk ensuring that benefits are always higher than the cost involved.Roles and Responsibilities of every member should be well-defined: All members of the project should know what the project wants from them and how to relate their responsibilities with others.Project is a systematic accumulation of several parts: PRINCE2® methodology breaks a project into several parts and then integrates them as the project demands. Thus, it helps the units to evaluate their success at each stage.Decentralized management: PRINCE2® methodology asked to form a project management board with senior-most managers that would determine the project cost, time, and resources. It then asks to provide the responsibility of the project to the project manager who will manage the project management teams. Each team would have team heads who will report to the project manager.Tailored to meet the project needs: PRINCE2® can be tailored depending on the importance of the project, the budget allocated, resource availability, and time.Project Management Roles in the PRINCE2® methodologyIn a PRINCE2® environment, the project management team needs to work in perfect cohesion. In fact, human resource planning and allocation take a different dimension here. PRINCE2® methodology induces teamwork culture in every part. The greater project management team is segregated into smaller units and each unit remains responsible for only their share of jobs. Again each unit remains linked with several other units that together accomplish the whole job. Some key roles in a PRINCE2® environment are given below:Project board: This remains at the helm of the entire project. The project board comprises of executive, senior user, and senior supplier. The programme or corporate management appoints the executive. This executive bears the responsibility of the project. They get technical support and advice from the senior user and senior supplier. Normally, the executive remains responsible for the development of the project management team. They also develop the Business case and performs a regular audit to ensure the feasibility of the project. The senior user is the representative of all the users who will use the project product. The senior supplier represents those designing, facilitating, and developing the actual project products.The project manager interacts with the project board whenever any important decision is taken or any unanticipated matter arises like the current budget may not be sufficient or a few resources may need some changes, etc. The project manager needs the approval of the project board in all major decisions that are not included in the actual project plan.Project Manager: The project manager organizes and controls the project management team. They develop smaller units as required and appoint unit heads. The project manager draws the whole working plan and delivers responsibilities to the units and individuals. They also provide deadlinesThe Customer: The customer is an individual, group, or corporate body that actually pays for the projectThe User: the user is an individual, group, or corporate body who will use the project products. In some situations, the customer and the user become the same individual, group, or corporate bodyThe Supplier: This is actually a group of professionals whose skills and experience are required to materialize the projectPRINCE2® Project ProcessPRINCE2® strongly advocates planning a project structure and adhering to it unless and until any crisis arises. Following are the essential steps in the PRINCE2® project process:Step 1: The first step in structuring the whole project that includes designing, directing and starting the project. At first, a project mandate is created that narrates the necessity of the project in brief. Once the mandate is established, the project is briefed. The project board is developed and the board members discuss the project on the basis of the brief they receive. They then approve or amend the brief and give their consent. At this point, a project manager is appointed to whom the project board delegates the project responsibility. The project manager designs the blueprint on the basis of a number of parameters such as deadline, the risk involved, budget, scope, quality, and benefits.Step 2: the second step includes control and management. The project manager develops the project team, segregates it in smaller units, assigns responsibility to each unit, and assigns budgets and deadlines. This step is the most important one in the sense that it actually materializes the project and shows the results, i.e. project products are developed in this step. Project manager gives regular updates to the project board that then review the feasibility of the project. As every stage completes, the project manager and project board undertake a feasibility check on the basis of several parameters.Step 3: This is the closing of a project. As the project products are developed, the project manager closes the project by reconciling every single aspect from finance to human resources. The final report is submitted to the project board that then ends the project.PRINCE2® project management supportManaging administrative works is important in any PRINCE2® project management. The project manager needs to deal with several types of documents and they also need to arrange meetings with the team or units as also with the project board. Besides, keeping files updated, arranging computerized files in proper order, data management, reviewing the team’s performance and problems, etc. are important administrative jobs. Project manager generally deals with all these responsibilities single-handed; in some situations, especially when the project is a large one or several projects are taking place simultaneously, the administrative office is established to handle these jobs.Scope of the PRINCE2® methodologyProjects have different levels. Some are extremely complicated with multidimensional aspects, some are multidisciplinary but not so complicated, and some are simple. PRINCE2® is suitable for all as it provides a common language for all stakeholders. PRINCE2® simplifies a complicated project by segregating it as per the requirement and then integrating the segregated parts to obtain the required outcome.Project assurance in the PRINCE2® methodologyIn PRINCE2® environment project assurance is the assessment of a project from independent perspectives. There are three different and independent project assurance views: business’ view, user’s view, and supplier’s view. It is evident that these views represent the independent views of project board members.Business assurance checks the viability of project cost, quality, and deadlines. The user assurance checks whether the users’ requirements and quality are maintained or not. Supplier assurance also called technical assurance checks whether the project is progressing as per the assigned framework. If the project is really big or taking place in more than one place at a time, a project assurance team is formed to obtain independent views of the above-mentioned personnel; otherwise, the responsibility is given to the project board.So, PRINCE2® methodology is designed to manage a project in an organized way. It attributes project structure at the very initial phase of a project and ensures that everyone involved in the project adheres to that structure. PRINCE2® methodology uses common language in every level that enables even novice project members to communicate with others effortlessly or understand their responsibility without much intervention of the unit manager or project manager.
Rated 4.5/5 based on 28 customer reviews

The Underlying Idea Behind PRINCE2® Methodology

11745
The Underlying Idea Behind PRINCE2® Methodology

PRINCE2® stands for Projects in-Controlled Environment. PRINCE2® is a process-based project management methodology that means PRINCE2® certified project management experts are not just projecting implementers but serious planners and contributors whom even the top management of an organization can trust with a whole new project. The original version of PRINCE methodology was updated in 1996-97; so, the new version becomes PRINCE2®. The methodology provides ways to simplify any types of project in several sub-modules so that the project management team can organize and control the whole project systematically.

PRINCE2® methodology starts with some basic questions

Basic questions in PRINCE2 Methodology

As said before, PRINCE2® methodology tries to simplify the project by segregating it into several parts and then integrating each part setting proper logic. The PRINCE2® methodology starts with some basic questions. These questions help to include all visible and invisible matters together:

  • What we have planned to do?
  • What is the expected date of starting the project?
  • What arrangement does this project need?
  • Is it possible to accomplish everything with the current availability of in-house resources or some external help is necessary?
  • How much time the whole project can take?
  • If more time is required, then how much further can it be stretched?
  • What will be the maximum cost of the whole project?

These questions form the foundation of a project. Many unknown or primarily suppressed aspects come out one by one while answering these questions. Hence, in the PRINCE2® methodology, a project always starts with these questions. The PRINCE2® methodology attributes a proper structure for every project. It defines it step by step so that everyone involved understands their roles, responsibilities, and limitations. PRINCE2® makes everything logical and organized.

The pillars of PRINCE2® Framework

It is obvious that an unstructured, uncontrolled project goes nowhere. It destroys an organization’s precious resources and money. These types of unstructured, uncontrolled projects do not finish in time or within the assigned budget. Thus, PRINCE2® methodology provides a framework to channelize the resources, ideas, energy, money, and time. There are three pillars of the PRINCE2® framework:

  1. A project should have a planned and controlled start – A project should be well-planned with all the above-mentioned questions answered before starting it.
  2. A project should have a planned and controlled middle – While work-in-progress, the project should follow a predetermined path.
  3. A project should have a planned and controlled end – When the mission is accomplished it is necessary to reconcile everything systematically.

Principles of the PRINCE2® methodology

The entire PRINCE2® methodology is based on the following principles:

  • Project undertaken should have proper justification with respect to the business: The project should be properly justified at any point in time. The project manager should be optimistic about its benefits and risk ensuring that benefits are always higher than the cost involved.
  • Roles and Responsibilities of every member should be well-defined: All members of the project should know what the project wants from them and how to relate their responsibilities with others.
  • Project is a systematic accumulation of several parts: PRINCE2® methodology breaks a project into several parts and then integrates them as the project demands. Thus, it helps the units to evaluate their success at each stage.
  • Decentralized management: PRINCE2® methodology asked to form a project management board with senior-most managers that would determine the project cost, time, and resources. It then asks to provide the responsibility of the project to the project manager who will manage the project management teams. Each team would have team heads who will report to the project manager.
  • Tailored to meet the project needs: PRINCE2® can be tailored depending on the importance of the project, the budget allocated, resource availability, and time.

Project Management Roles in the PRINCE2® methodology

Project Management Roles in the PRINCE2®

In a PRINCE2® environment, the project management team needs to work in perfect cohesion. In fact, human resource planning and allocation take a different dimension here. PRINCE2® methodology induces teamwork culture in every part. The greater project management team is segregated into smaller units and each unit remains responsible for only their share of jobs. Again each unit remains linked with several other units that together accomplish the whole job. Some key roles in a PRINCE2® environment are given below:

  • Project board: This remains at the helm of the entire project. The project board comprises of executive, senior user, and senior supplier. The programme or corporate management appoints the executive. This executive bears the responsibility of the project. They get technical support and advice from the senior user and senior supplier. Normally, the executive remains responsible for the development of the project management team. They also develop the Business case and performs a regular audit to ensure the feasibility of the project. The senior user is the representative of all the users who will use the project product. The senior supplier represents those designing, facilitating, and developing the actual project products.

The project manager interacts with the project board whenever any important decision is taken or any unanticipated matter arises like the current budget may not be sufficient or a few resources may need some changes, etc. The project manager needs the approval of the project board in all major decisions that are not included in the actual project plan.

  • Project Manager: The project manager organizes and controls the project management team. They develop smaller units as required and appoint unit heads. The project manager draws the whole working plan and delivers responsibilities to the units and individuals. They also provide deadlines
  • The Customer: The customer is an individual, group, or corporate body that actually pays for the project
  • The User: the user is an individual, group, or corporate body who will use the project products. In some situations, the customer and the user become the same individual, group, or corporate body
  • The Supplier: This is actually a group of professionals whose skills and experience are required to materialize the project

PRINCE2® Project Process

PRINCE2® Project Process

PRINCE2® strongly advocates planning a project structure and adhering to it unless and until any crisis arises. Following are the essential steps in the PRINCE2® project process:

  • Step 1: The first step in structuring the whole project that includes designing, directing and starting the project. At first, a project mandate is created that narrates the necessity of the project in brief. Once the mandate is established, the project is briefed. The project board is developed and the board members discuss the project on the basis of the brief they receive. They then approve or amend the brief and give their consent. At this point, a project manager is appointed to whom the project board delegates the project responsibility. The project manager designs the blueprint on the basis of a number of parameters such as deadline, the risk involved, budget, scope, quality, and benefits.
  • Step 2: the second step includes control and management. The project manager develops the project team, segregates it in smaller units, assigns responsibility to each unit, and assigns budgets and deadlines. This step is the most important one in the sense that it actually materializes the project and shows the results, i.e. project products are developed in this step. Project manager gives regular updates to the project board that then review the feasibility of the project. As every stage completes, the project manager and project board undertake a feasibility check on the basis of several parameters.
  • Step 3: This is the closing of a project. As the project products are developed, the project manager closes the project by reconciling every single aspect from finance to human resources. The final report is submitted to the project board that then ends the project.

PRINCE2® project management support

Managing administrative works is important in any PRINCE2® project management. The project manager needs to deal with several types of documents and they also need to arrange meetings with the team or units as also with the project board. Besides, keeping files updated, arranging computerized files in proper order, data management, reviewing the team’s performance and problems, etc. are important administrative jobs. Project manager generally deals with all these responsibilities single-handed; in some situations, especially when the project is a large one or several projects are taking place simultaneously, the administrative office is established to handle these jobs.

Scope of the PRINCE2® methodology

Projects have different levels. Some are extremely complicated with multidimensional aspects, some are multidisciplinary but not so complicated, and some are simple. PRINCE2® is suitable for all as it provides a common language for all stakeholders. PRINCE2® simplifies a complicated project by segregating it as per the requirement and then integrating the segregated parts to obtain the required outcome.

Project assurance in the PRINCE2® methodology

In PRINCE2® environment project assurance is the assessment of a project from independent perspectives. There are three different and independent project assurance views: business’ view, user’s view, and supplier’s view. It is evident that these views represent the independent views of project board members.

Business assurance checks the viability of project cost, quality, and deadlines. The user assurance checks whether the users’ requirements and quality are maintained or not. Supplier assurance also called technical assurance checks whether the project is progressing as per the assigned framework. If the project is really big or taking place in more than one place at a time, a project assurance team is formed to obtain independent views of the above-mentioned personnel; otherwise, the responsibility is given to the project board.

So, PRINCE2® methodology is designed to manage a project in an organized way. It attributes project structure at the very initial phase of a project and ensures that everyone involved in the project adheres to that structure. PRINCE2® methodology uses common language in every level that enables even novice project members to communicate with others effortlessly or understand their responsibility without much intervention of the unit manager or project manager.

KnowledgeHut

KnowledgeHut

Author

KnowledgeHut is a fast growing Management Consulting and Training firm that is a source of Intelligent Information support for businesses and professionals across the globe.


Website : https://www.knowledgehut.com

Join the Discussion

Your email address will not be published. Required fields are marked *

Suggested Blogs

PMP® Vs. PRINCE2®

Do you want to take your project management career to the next level? Are you pondering on which one to choose between PMP® and PRINCE2® certification? Acknowledged as the most important industry-recognized certification for project managers, PMP® plays an important role in increasing the earning potential of an individual while benefiting the employers as well. Whereas, PRINCE2® 2017 certification emphasizes on tailoring the method to the needs of organisations and project management environments. Therefore, both the certifications comprise of unique elements that cater to your professional development.Although, both the certifications offer a plethora of opportunities to move ahead in your project management career, they are provided by two different bodies, namely, PMI® and AXELOS. This blog will help you to differentiate between PMP® and PRINCE2® certifications based on various parameters and enable you to decide which certification will help you to continue with your project management journey.Difference between PMP® and PRINCE2® certificationsThere are two different project management frameworks involved in the PRINCE2® and PMP® certifications. Before moving to the differences, let’s compare both the certifications:PRINCE2®PMP®The owner of PRINCE2® certification is AXELOS®, United Kingdom.PMI®, based in the United States administers the PMP® examination.Its project management methodology explains your actions in order to manage successful projects.It talks about the knowledge that enables you to manage a project with good practices.It deploys a perspective framework that focuses on processes for starting, controlled execution, and closing of projects.It deploys a descriptive framework which explains the knowledge areas, such as, risk, time management, etc., in detail with good practices.It consists of an integrated set of process and themes, which can’t be used in isolation. There are 7 principles which should be followed.Each topic/knowledge area involved in PMP® can be referred to in isolation, in a sort of plug and play model.PRINCE2® defines all the project roles clearly.PMP® mostly focuses on the project manager’s role.PRINCE2® enables the framework to be highly scalable and flexible with its unique concept of ’Tailoring Approach’.PMP® doesn’t offer such flexibility as it focuses on knowledge areas.Both the certifications offer a body of knowledge and a proven approach towards managing projects efficiently. There are numerous factors that lead to your decision of choosing either PMP® or PRINCE2® certification. The parameters can be differentiated as follows:1. PrerequisitesThe initial difference can be drawn between PMP® and PRINCE2® certification based on the prerequisites. Both the certifications demand the candidates fulfil certain prerequisites which differ in certain ways.To begin with, the prerequisites for PMP® certification requires a few credentials to be achieved based on the degree that you hold. The same can be explained as follows:A) For candidates holding a high school diploma, associate’s degree or the global equivalentMinimum five years/60 months unique non-overlapping professional project management experienceYou need to have 60 months of experience in unique non-overlapping professional project management.You need to spend 7,500 hours leading and directing projects.You need to have completed 35 hours of project management education.B) For candidates holding a four-year degreeYou need to possess 36 months of experience in unique non-overlapping professional project management.You need to hold 4,500 hours of leading and directing projects.You require to gain 35 hours of Project management education.On the other hand, the PRINCE2® Foundation certification doesn’t demand its end learners to fulfil any prerequisites. However, you must hold a PRINCE2® Foundation certification as a prerequisite to taking up the PRINCE2® Practitioner certification.2. Demand across countriesThe Project Management Professional (PMP)® certification and PRINCE2® certification have got separate demands across different countries. Further, the acceptance of these certifications differs from industry to industry based on the geographical location.The popularity of both the certifications can be listed in the form of the following chart:Region/ Country1st Preference2nd PreferenceEuropePRINCE2®--AmericasPMP®PRINCE2®AsiaPRINCE2®/PMP®PRINCE2®/PMP®AfricaPRINCE2®/PMP®PRINCE2®/PMP®AustralasiaPRINCE2®PMP®Middle EastPRINCE2®/PMP®PRINCE2®/PMP®3. Who should apply for PMP® or PRINCE2® certification?Every certification needs you to hold a certain amount of experience and knowledge to continue with your certification journey. Similarly, you are expected to hold a certain amount of experience and knowledge to take up PMP® and PRINCE2® certification.So, who should go for a PMP® certification? According to PMI®, PMP® certification should be taken up by experienced Project Managers who meet the following requirements:They should be able to perform under general supervision and take up the responsibility of all aspects of a project for the life of the project.They should be capable of leading and directing cross-functional teams to deliver projects within the constraints of schedule, budget, and resources.They should demonstrate sufficient knowledge and experience in order to apply a methodology to projects appropriately that have a reasonably well-defined project requirement and deliverable.On the other hand, the PRINCE2® Foundation certification can be taken up by:Individuals who intend to demonstrate their understanding of the PRINCE2® methodology.Individuals working effectively as a part of a team or with a project management team within a PRINCE2® supporting environment.Whereas, the PRINCE2® Practitioner certification can be taken up by:Individuals who intend to demonstrate their acquired understanding of the ways to apply and tailor the PRINCE2® methodology in a scenario.4. Benefits: PMP® Vs. PRINCE2® certificationOnce you take up a certification it would surely benefit you in some way. Every certification benefits you in some way. It further helps you to choose between the certifications that fit your desired career path.The benefits of taking up a PMP® certification can be listed down as follows:1. Helps in your career growthAs an internationally accredited certification, getting a PMP® certification will help you to get recognised across the global business community. Moreover, it helps you to form a network with people who are pursuing PMP® certification as well as the ones who are already PMP® certified. This enhances your chances of getting a better job leading to your career growth as well as a higher salary.2. Makes you more skilfulYou need to undergo rigorous training in order to get PMP® certified. It helps you to learn A to Z of project management by getting trained and educated in the five project management processes that include planning, initiating, implementing, monitoring and controlling.    3. Enhances your market valueIncrease your chances to work with global organisations working in various parts of the world by adding a PMP® certification to your profile. Further, the project management forums and discussion boards help you to master your expertise with various tips and additional knowledge.4. Increases your earning You can expect a higher pay or a good hike as soon as you become a PMP® certified professional. PMI’s Project Management Salary Survey shows that the PMP® certified professionals get the advantage of earning 20% more than their non-certified counterparts.The key benefits of PRINCE2® Foundation and PRINCE2® Practitioner certifications are different based on the learning outcomes of both the certifications. The key benefits of PRINCE2® Foundation certification are as follows:Acquire valuable skillsGet equipped with a certification of high demand in Project Management.Understand the PRINCE2® methodWork efficiently as a member of a team working within a PRINCE2® environment by learning the best practices.Prepare yourself for the futureYou need to earn your PRINCE2® Foundation certification in order to move ahead to the higher levels of Project Management certifications, like PRINCE2® Practitioner and PRINCE2® Agile.Whereas, the key benefits of PRINCE2® Practitioner certifications can be listed down as:1. Equip with better skillsTaking up a PRINCE2® Practitioner certification will help you gain a Project Management credential that is in high demand.2. Learn to apply and tailor PRINCE2®PRINCE2® Practitioner certification helps you to understand and learn to tailor as well as apply the PRINCE2® methodologies across different project environments and scenarios.3. Grow in your careerOpen the doors to advance your career in Project Management by equipping yourself with PRINCE2® Practitioner certification.5. Languages available for PMP® and PRINCE2® certificationIsn’t it comfortable to write an examination in your local language? PRINCE2® Foundation and PRINCE2® Practitioner examinations are conducted in a few international languages whereas, the PMP® certification examination is conducted in English but provides Language Aids for 14 international languages.You can choose from among 6 languages to appear for your PRINCE2® Foundation and PRINCE2® Practitioner certification. They are:DutchEnglishFrenchGermanNorwegianPolishWhereas, PMP® examinations are conducted in English all over the world. However, it provides language aids to the candidates in 14 languages, namely, Arabic, Brazilian Portuguese, Chinese (Simplified), Chinese (Traditional), French, German, Polish, Hebrew, Italian, Japanese, Korean, Russian, Spanish, and Turkish.6.  Examination formatIt is important for a candidate to understand the examination format prior to sitting for any certification examination. PMP® and PRINCE2® certifications have different examination format based on the number of questions, minimum score, and the time allotted for answering the questions. The difference can be listed down as:CategoriesPMP®PRINCE2® FoundationPRINCE2® PractitionerThe minimum score to pass the examinationDetermined by the difficulty level of the questions.33 out of 6038 out of 68examination duration4 hours1 hour2.5 hoursexamination fee$405 (across the globe for PMI members)$555 (across the world for non-PMI members)£236.00 (India)£389.00 (India)7. Examination applicationPMP® and PRINCE2® certifications are owned by two different entities. PMP® is owned by the Project Management Institute (PMI)®, whereas, AXELOS is the owner of PRINCE2®. With different owners, the application procedure for both the certifications also varies from each other.Once you have concluded that you meet the eligibility criteria, you will need to apply for the PMP examination.The steps are as follows:Book your examination centre by visiting Prometric or by telephoneStep 1: Register for a Project Management Institute membership at PMI.org.Step 2: Complete the Online ApplicationStep 3: Wait for the confirmation of receipt and completion of your applicationStep 4: Part 1: Wait for the acceptance of your application             Part 2: If you are audited and your application is approved, thenStep 5: Make the payment, preferably online, as it is the easiest and easiest wayStep 6: Book your examination centre by visiting Prometric or by telephoneStep 7: Take the examination.Whereas, you need to pay the examination fee for your PRINCE2® Foundation or PRINCE2® Practitioner examination through PeopleCert. However, you need to book your test centre through Pearson VUE or Prometric.8. Maintaining your PMP® and PRINCE2® certificationBoth PMP® and PRINCE2® Practitioner certifications are valid for a period of three years. But there are different criteria which you need to follow in order to maintain both the certifications.You need to earn 60 PDUs by fulfilling the educational requirements and giving back to the profession in order to maintain your PMP® certification every three years. Becoming a PMI member smoothens your process of maintaining your required PDUs through its exclusive workshops and study materials. You need to pay $139 to become a PMI® member, and the annual renewal fee is $129.On the other hand, you can maintain your PRINCE2® Practitioner certification by either resitting for the examination or by subscribing to My PRINCE2. You need to meet the following criteria within three years to maintain your PRINCE2® Practitioner Certification:You need to subscribe to My PRINCE2 within three months of passing your examination and renew your subscription each year to remain subscribed for the three-year period.Maintain your PRINCE2 digital badge by recording 20 CPD points each year under the prescribed categories for the badge to be extended on renewal.On a concluding noteAdding a project management certification to your profile adds great value to your career. It upgrades your skills to improve your project performance while enhancing your career prospects.PMP® and PRINCE2® are deployed across the world as project management framework for project management practice. Both aims to improve the project performance and eventually the success rate. However, they take two different approaches. Hope this article helps you to choose the best project management certification for your career growth. All the best!
Rated 4.5/5 based on 15 customer reviews
10328
PMP® Vs. PRINCE2®

Do you want to take your project management career... Read More

9 Steps To Becoming a PMP® Certified Professional

The growing complexity of industrial challenges has led to a crisis of human resources who can meet the demands of projects across the globe. PMP® certification offered by PMI is designed on rigorous standards and ongoing research to enable you to meet the real-world challenges of organisations.Project Management Professional (PMP)® certification is the gold standard of project management certification which is developed by practitioners for practitioners. If you are getting curious about how can a certification help you to be in demand for various organisations across all industries, then you have picked the right spot to clear your doubts.Become a PMP® Certified Professional in 9 stepsIf you are planning to take up the PMP® certification exam soon then the following 9 steps will surely help you to plan your schedules to clear the exam at the first attempt: Step 1 - Begin with the PMP® Handbook The PMP® Handbook is a guide to all your queries about the procedures for applying and taking the exam. It consists of all the information that you need about the process of taking the PMP Exam and become a PMP® certified project manager. Step 2 - Fulfill the prerequisites to become a PMI certified project managerYou must fulfill the following educational and experience requirements in order to take the PMP® exam:If you have a high school diploma, an associate degree, or the global equivalent of these, then you must hold a minimum of 60 months of unique, non-overlapping project management experience. Moreover, you should have spent at least 7,500 hours of these 60 months in leading and directing project tasks.If you have a bachelors or its equivalent in your country then you must possess a minimum of 36 months of non-overlapping and unique project management experience of which you must have spent 4,500 hours in directing and leading project tasks.You must also show 35 contact hours of project management training in both cases.Step 3 - Become a Member of your local PMI Chapter Once you get a PMI membership, you realise that the discount is bigger than the membership fee. Apart from the free PDF version of PMBOK® Guide and discount on PMP® Exam, you stay updated with information related to PMP Prep Workshops once you become a PMI member.Moreover, you also get an opportunity to network and interact with the new and seasoned PMPs which increases your chance to clear your exam at the first go.Step 4 - It’s time to sign up for your PMP ExamI am sure, you will agree that exam preparations work better when there’s a deadline. Start with your PMP application procedure by visiting project management institute to register and then filling up your PMP Credential Application. You need to submit the same to PMI for approval. Once you receive your confirmation number, you can schedule your exam on the Prometric website.Step 5 - Study the PMBOK® GuideOnce you start preparing for your PMP® certification exam, you can use PMBOK® Guide as your primary reference. According to most trainers, one can find the correct answer for around 75% of the PMP® exam questions in the PMBOK® Guide. So, you must treat it as a resource and read it thoroughly.Step 6 - Get study materials for self-studyAs mentioned above, PMBOK® guide will give you a rough knowledge about the answers for your PMP® certification exam. So, apparently, you will have to use other study materials to cover up the gap. You can download the same from the internetYou can also try the self-study courses like PM PrepCast which will also help you to earn a certificate for the PMI-required 35 contact hours which you can’t earn by reading books.Step 7 - Attend a PMP® WorkshopPMP® workshops for 2 to 6 days are conducted by PMI Chapters, universities, and training companies around the world. These workshops give you an opportunity to interact with the instructors and other students to help you clear your queries about the PMP® certification exam.Step 8 - Answer Sample PMP® Exam questionsThere are numerous free sample questions which are available on the internet and you can use the same to check your learning curve. You should also keep a track of your scores to see where you are.Step 9 - Take the examAfter all the hard work, it’s time for you to appear for your PMP® certification exam. Don’t skip the short tutorial on how to use the computer and the software at the beginning of the exam to avoid a blunder.PMP®  Certification: Why should you get one?‘Professionals with a PMP® certification garner a higher salary (20% higher on average) than those without a PMP® certification’; Earning Power: Project Management Salary Survey Ninth Edition. Well, this statement might have answered one of your major queries. Having this PMI certification under your belt helps you to land up in any industry, anywhere in the world, and enable you to work with any project management methodology.    So, if you meet the following eligibility requirements as an experienced project manager then you should go ahead with adding this certification to your collar:Responsible for all aspects of the project for the life of the project and perform duties under general supervision.Deliver projects within the constraints of resources, schedule, and budgets by leading and directing cross-functional teams.Demonstrate sufficient experience and knowledge to appropriately apply a methodology to projects that have reasonably well-defined project deliverables and requirements.The PMP® certification enables you to understand and speak the global language of project management and connects you to a community of experts, organisations, and professionals worldwide to become a project hero.The Misconception About PMP® Certification Cost A common misconception prevails among all the PMP® aspirants about the PMP® Certification cost that it only consists of the exam fee. But least does anybody thinks about the other costs involved in it. The PMP® exam fee for the members and non-members of PMI are $405 and $555 respectively. Then other factors responsible for the cost of PMP® Certification are as follows:Online training cost for PMP® certificationPMP® classroom trainingPMI membership fee and joining feePMI membership renewal feePMP® Certification Exam feePMBOK Handbook cost for non-membersCost of study guides and resourcesCost of practice testsRenewal cost of PMP® certificationOnline and classroom training for PMP® certification: It gets very tricky when it comes to clearing your PMP certification exam at the first attempt. So, to be at a safer side you can choose between online or classroom PMP® training from any leading training provider in the market.The features and costs of these training might vary for every training provider. Also, this gives you the opportunity to meet the 35 hours of training requirement which you need to qualify for your PMP® certification exam.PMI Membership fee and joining fee: You need to pay a processing fee of $10 along with a membership fee to the PMI chapter to avail the PMI membership. Now, did you know that you can bring down your fee for PMP® certification exam, Re-examination, and CCR certification renewal by becoming a PMI member?Other than this, you can get free access to PMBOK® Guide, save money on globally recognized certifications and more, master new skills through free events and webinars, stay ahead of deadlines using 1,000+ free tools and templates, and make local as well as global connections.Cost of learning resources and PMBOK®: As soon as you get a PMI membership, you get access to a free version of the latest version of PMBOK® which a foundation standard for project management developed by Project Management Institute. Other than that, you require additional materials to prepare for your PMP® certification exam which costs you between $40 to $100.You can also buy practice tests for $60 to $100 which will give you a fair idea about the test format for PMP® certification.Renewal cost of PMP® certification:Once you get a PMP® certification, that’s not the end. Your credentials are valid for only three years and you need to renew it after that. You can renew your certification by paying $150 which can be brought down to $60 by getting a PMI membership.Maintain your PMP® certification with 60 PDUsGetting PMP® certified is not the end of your journey, as it is only valid for 3 years. You need to maintain your PMP® certification by earning 60 PDUs to fulfill the Continuing Certification Requirements (CCR).You can earn these PDUs by engaging yourself with various professional development activities which center around the areas of Education and Giving back to the Profession. You can also earn your 60 PDUs at one go by signing up for a 60 PDU bundle online training program offered by an established Registered Educational Provider.The way beyond PMP® CertificationGetting a PMP® certification opens your door towards a promising career. A PMP certified professional earns 20% more than a non-PMP certified professional. The following list consists of the country-wise industries along with the average salary earned by the Project Managers:CountryIndustryAverage PMP SalaryAustraliaAgriculture/Mining$166,000AustraliaFinancial services and Consulting industry$150,000United StatesPharmaceuticals$125,000United StatesAgriculture/Mining, Consulting$120,000CanadaAgriculture/Mining$115,000CanadaUtilities$110,000IndiaAgriculture/Mining, Healthcare$25,278IndiaTelecommunication, Engineering$23,874Salary of a Project Manager: Certified Vs Non-CertifiedGetting a PMP® certification apparently contributes towards increasing your annual earning. A non-certified Project Manager may earn up to $91,000 whereas, this figure can go up to $111,000 by adding a PMP® certification to your collar. However, even work experience contributes to an increase in salary for a PMP® certified professional but this growth is not uniform across the globe. Singapore tops the list where the difference between a three-year experienced and a twenty-year experienced PMP® certified professional is 177%.Your salary can also vary based on the type of job you are in. The salary of a PMP® certified professional is higher in IT. The following figures show the salary of  PMP® certified professionals by job in the United States:JobSalary RangeProject Manager  (Information Technology)$65,161 to $125,836ProjectManager (General)$57,877 to $122,485Program Manager$68,150 to $139,552Further, the size of the company also plays a key role in determining the salary of a PMP® certified professional. The following table will give you a clear idea of how the salary figures increase with the company size:Company SizeSalary Range1-9$94,72450-199$93,614600-1999$103,697>5000$111,620ConclusionIf you wish to grow in the field of Project Management, then getting a PMP® Certification is the best way to do that. Also, you can avail a lot of discounts and networking opportunities by becoming a PMI member. Further, it gives you access to the free PDF version of the latest PMBOK® Guide.  To conclude, this blog gives you a clear idea of how to begin your PMP® certification journey. Moreover, you also get a glimpse of the professional future which lies ahead of PMP® certification.
Rated 4.5/5 based on 12 customer reviews
7150
9 Steps To Becoming a PMP® Certified Professional

The growing complexity of industrial challenges ha... Read More

Career Opportunities for PRINCE® Certified Professionals

Are you considering investing time, money, and effort into something that will help launch and elevate your career in Project Management?Keep reading to discover a host of options for your career in project management if you are a PRINCE2® certified professional.The benefits gained will more than justify your decision to spend your hard-earned money, time, and effort on PRINCE2® certification as it will help you progress up the career ladder and be known as a professional committed to quality.In this article, we will discuss your career prospects and job opportunities after being certified as either PRINCE2® Foundation or Practitioner or both. It also discusses how these certifications can  assist you in furthering your career.So, how does a PRINCE2® qualification benefit me?The benefits are:1. It is one of the most popular project management methods in the world.PRINCE2® is a methodology that is widely implemented in various projects across the globe irrespective of size or sector. Acquiring this certification reflects that you have the knowledge of PRINCE2® terminologies. It will help you to better communicate and engage with clients and stakeholders as you will become adept at project management language that is commonly spoken around the world.   2. Project Management is becoming a skill that is in-demand. According to a survey conducted by AXELOS in 2017 in The Future Project Manager Report, around 76% of the respondents voted that project management will become a basic business skill which will be used by everyone.The best way to acquire project management skills and knowledge is by getting certified.3. Being PRINCE2® certified can boost your salary.Project-management certified professionals have salaries much higher than their non-certified counterparts. According to Glassdoor, the average salary of a PRINCE2® Practitioner ranges from $40,000 to $242,000 per year.4. Become a better project manager by being PRINCE2® certified. PRINCE2® provides the best project management practices that are known to contribute to project success. It describes the optimal approach when it comes to managing 5. PRINCE2® opens the door for global opportunities. PRINCE2® is recognized by many multinational and government organisations, which increases the opportunities for employment in the global market.6. Being PRINCE2® certified can boost your career.It is an added advantage if you hold a PRINCE2® certification as employers in the UK and Europe prefer candidates with a PRINCE2® qualification, especially in the field of project support or administrator.7. Become more confident with PRINCE2®.You’ll feel more confident about your work with the certification, which will be reflected in your project role.8. Gain respect from your peers.PRINCE2® qualification and knowledge will help you become a better project practitioner, gain respect at work, and  help your career grow.Who should get PRINCE2® certified?Having a PRINCE2® certification will be helpful for the following professionals:Project ManagersProject EngineersSoftware DevelopersProject ExecutivesAssociate Project ManagersSoftware EngineersHow does the PRINCE2® Certification help me with better job prospects?As a project management professional, you will be tasked with huge responsibilities.By being PRINCE2® certified, you can plan, manage, and control the progress of projects in a more efficient and effective manner and ensure that  goals are achieved within the deadline.For candidates who wish to pursue a career in project management, positions such as project analyst and project planner serve as stepping stones to higher positions. These roles help the professional work alongside a project manager, and learn in-depth the practical application of project management methods and the steps involved in leading a project to successful completion.The role of Project Manager: It is the role of a Project Manager to synchronize resources like money, people and materials, and deliver products as specified by the customers. The Project Manager is responsible for planning the project, communicating with stakeholders, managing  risks and issues, reporting to the senior manager as well as monitoring the progress of the project.The role of a Programme Manager: A Project Manager with experience can get promoted to the role of a Programme Manager and is responsible for planning and coordination of multiple projects which are managed by the project manager.It’s a job which is much in demand and well-paid. It is required that a programme manager have in-depth knowledge and understanding of the process of project management, along with the drive and enthusiasm to ensure execution and completion of projects.What are the roles and responsibilities for a PRINCE2® qualified professional?The major roles and responsibilities are listed below:Corporate or Programme Management: The corporate or programme manager is not a part of the project management team and is responsible for naming the executive, project mandate and describing the different levels of tolerances.Project Board: They are responsible for planning the direction and flow of the process that leads to the success of the project.Project Manager: He is responsible for the project management on an everyday basis, while at the same time working within restraints as set out by the project board.Team Members: It is the responsibility of the team members to deliver the required products within the specified expense and time, without affecting the quality of the product.Job opportunities for PRINCE2® certified professionalsWith PRINCE2® certification, you will be able to explore job opportunities from around the globe. This course equips you with the core competencies of project management, which will help you get jobs in various profiles of project management. With a PRINCE2® certification, you can opt for designations such as:Project Manager, ITSenior Project Manager, ITService Delivery ManagerProgram Manager, ITProject Manager, Software DevelopmentCustomer Project ManagerTechnical Project ManagerProject Management AnalystNational Senior EQA Scheme OfficerService Improvement ManagerImplementation Project ManagerProject Delivery ManagerPRINCE2® ConsultantInnovation Delivery ManagerPRINCE2® is an essential measure for the recruiters who aim to have creative and talented professionals onboard their company.They believe that a PRINCE2® certified professional is capable of managing any business requirement successfully under pressure. Moreover, most progressive and competitive companies realise the value in training their employees to deliver top class projects within a proposed deadline, and they consider PRINCE2® as the de-facto benchmark for managing projects efficiently.How do I start on my PRINCE2® Certification?Getting PRINCE2® certified is the best way to get a job in project management. A PRINCE2® certification will definitely increase your chances of landing yourself a project management job, by imparting an additional attribute to your CV.This will indicate to the employer that you are qualified for the position you are being hired for. As PRINCE2® certifications provide a wealth of project management techniques, you will no longer have to toil hard year after year to gain experience before applying for lucrative job roles in project management. The certification will also make you stand out for a project support role. It will save you a lot of time and energy while pushing your resume to the top of the pile.On completion of your PRINCE2® certification, you will have the confidence to apply for jobs in areas of project management. With the certification you can expect an average salary of around £32,000.What jobs can PRINCE2® certified professionals expect if they do not have any work experience?Even though a PRINCE2® certification will add credibility to your CV, you may need to gain years of experience within an appropriate technical role relevant to a project management job.In the above scenario, what gets counted is the individual’s work experience. A university fresher with just a degree and PRINCE2® certification will be highly unlikely to land a role as a project manager unless the job is specific for a graduate.For professionals who want to move to project management and PRINCE2® certified, their chances depend on their previous job experience. The jobs they can expect depend on each individual’s capabilities.What additional jobs are there for PRINCE2® certified professionals?Go for jobs where the employers mention that they consider PRINCE2® certification as an essential qualification criterion for their requirements. However, an employer might even ignore the PRINCE2® criterion if the candidate’s experience fits their job requirements.What would you need to get hired for entry-level job roles?  It depends clearly on how you are categorised for an entry-level role. You may believe that getting an entry-level job like  Project Administrator is possible just because this requires minimal experience, but please remember, there will be experienced Project Administrators vying for the same role as you. While they might be wanting to use this opportunity to gain more experience or as a means to move to another job role like Project Management, what you need to understand is that there will be some competition even from experienced campaigners when applying for entry-level jobs like Project Administrator.Getting more experience with the aid of PRINCE2® certificationsProfessionals holding the PRINCE2® certification but with no relevant experience in project management are advised to implement the PRINCE2® methodology in their own line of work.  Project management can be categorised into two types: Formal and Informal.Informal project management experience involves  professionals gaining experience by watching, interacting and learning from project managers working in the same company as them.  They can observe what they do to work effectively while co-relating with the PRINCE2® knowledge that they have gained. Check if there is an option to get a job role of an assistant or coordinator.Lack of opportunities will make it tougher for you to gain experience. In such cases, experience and knowledge can be gained by working for or doing pro bono work for charitable organisations or professional bodies. Interacting with the people within these organisations might open up opportunities in project management once they come to know that your skills and expertise are suited for the job role. Be hardworking, that is all!What kind of job roles open up after gaining experience?Once PRINCE2® certified professionals gain enough experience in project management, a lot of progressive options open up.  Project management skills are useful for not only project management alone but in other lines of work as well. PRINCE2® certified professionals can either continue along the project management path or utilise their project management experience skills in a more senior executive job role. They can start their own businesses, or turn into contractors; there are endless scopes of career development and chances of getting a better salary.PRINCE2® and PMP®: The differencesAlthough both are based on project management with similar ideas and thought-processes, there are some distinct differences between PRINCE2® and PMP®.Here are the top 10 differences between the above two:DifferencesPRINCE2®PMP®1Where did it originate from?Who controls and manages it?UK regionOwned by Axelos, UKUSARegulated by PMI, USA.2What it focuses on:What/ When/ Whom?How?3Methodology:Process-basedKnowledge-based4Study material for the examination:Official manual, “Managing Successful Projects with PRINCE2® (2017 Edition)PMBOK® Guide - Project Management Body of Knowledge Edition 6 along with standards & practice frameworks, available on PMI site5The framework that it relies upon:Prescriptive: It is based on best practices in the project environmentDescriptive: It is formed with knowledge areas such as scope, schedule, cost, risk, etc.6What structure does it follow?An integrated set of themes & processes along with 7 mandatory principles10 Knowledge areas, which can be referred to in isolation to master a specific project management knowledge7About the project roles:All the project roles are well defined.Gives more importance to the role of a project manager.8Certifications:PRINCE2® offers two levels of certification:FoundationPractitionerWhile PMI offers many certifications that relate to other forms of project management, PMP® is the most recognized and popular project management certification.PMI also offers a basic CAPM certification that covers  the foundational understanding of project management.9Well received in regions such as:The UK, Australia, the majority of Europe, the Middle East, Africa, and Asia.USA, Canada, South America, Australia, Africa, Switzerland, the Middle East, and some parts of Asia10Eligibility:No eligibility criteria for Foundation level.However, for the Practitioner level,you must have obtained certification on at least one of the following:PRINCE2® FoundationProject Management Professional (PMP®)Certified Associate in Project Management (CAPM)IPMA Level A (Certified Projects Director)IPMA Level B (Certified Senior Project Manager)IPMA Level C (Certified Project Manager)The eligibility criteria are mentioned below:Academic level (Higher secondary or Degree holder)Experience in projects35 Contact hours training11Cost of ExaminationFoundation level: $900Practitioner level: $1000 (Approximately)The cost varies according to the region you are taking the examination inPMI members: $405Non-PMI members: $555PRINCE2® vs PMP®: Regions that prefer themPMP® and PRINCE2® are based on and preferred in different regions of the world. PMP® is widely implemented for project management in North and South America, while PRINCE2® is famous in the UK and the rest of Europe. However, both are equally preferred in Africa, Asia, Australia, and the Middle East.Geographic RegionPRINCE2®PMP®United KingdomPreferredThe United States of AmericaPreferredAsiaEqually PreferredEqually PreferredEuropePreferredAustraliaEqually PreferredEqually PreferredAfricaEqually PreferredEqually PreferredThe Middle EastEqually PreferredEqually PreferredNorth AmericaPreferredPreferredSouth AmericaPreferredPRINCE2® vs PMP®: Expected salary and job opportunitiesBefore going for certification, people often wonder which of the credentials; PMP® or PRINCE2®, will offer them better job prospects. Well, to be honest, comparing the two would be rather unfair. In both the options, one needs to possess or gain experience in project management to land better jobs with higher pay scales. Both credentials can lead to a bright future in project management. It all depends on the professional and in which part of the world he or she is planning to work in.Here are the different pay scales that PRINCE2® and PMP® professionals can get and the companies that hire them:PRINCE2® certified professionalsPMP® certified professionalsSalary range$ 77,000 to $ 90,000$105,000 to $115,000Hiring companiesTCS, Tech Mahindra, HCL, Fujitsu, Capgemini, EricssonIntel, Microsoft, CGI, Dell, L’Oreal, IBMThe salary structure depends on years of experience and also depends on the job role in project management.ConclusionFor all the reasons mentioned above, PRINCE2® certifications are the ideal way to kickstart your career in Project Management. PRINCE2® can be tailored to suit any project type at any scale, and will readily integrate into evolving methodologies, like agile. We wish you success in your journey in the Project Management world!
Rated 4.5/5 based on 15 customer reviews
6828
Career Opportunities for PRINCE® Certified Pro...

Are you considering investing time, money, and eff... Read More