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Does PRINCE2 Increase My Salary?

What is PRINCE2®? PRINCE2® (PRojects IN a Controlled Environment) is a project management methodology to run Projects in an effective and efficient manner. It is one of the widely accepted project management frameworks by global organizations and practitioners.  PRINCE2 provides project essentials and serves as a barebone or backbone to run successful projects. This framework can be optimized to fit into any project environment (meaning any enterprises or government, industry, domain etc). PRINCE2 revolves around the core concepts of principles, themes and processes. Let’s get introduced to the PRINCE2 elements: Principles:  Guiding principles or good practices or manifesto of PRINCE2 helps project practitioners across the globe to seed and nurture the right mindset, behaviour and culture while managing projects. There are seven principles. 1. Continued business justification (business value, worthwhile, viability)2. Learn from experience (retrospection, maturity, feedback, improvement)3. Defined roles and responsibilities (who is doing what, what is expected from whom, project stakeholders) 4. Manage by stages (boundaries, phases)  5. Manage by exception (delegation of authorities with tolerance)6. Focus on Products (quality-centric approach to product delivery) 7. Tailor to suit the project (less-bureaucratic)Themes:  Project management revolves around high level tasks such as Plan, Execute, Monitor and Control and these activities, in turn, are centered around project aspects such as Scope, Cost, Time, Quality, Risks and Benefits. There are seven themes. Themes are important areas of focus and answer all the questions like: How to run the project? What documents/templates/logs/registers/plans/communications are required from the start to the closure? What techniques/methods are required to manage the project? 1. Business Case theme (Business Case, Benefits Management Approach)2. Organization theme (Project Organization Structure with roles and responsibilities, Communications Management Approach)3. Quality theme (Quality Management Approach, Quality Register) 4. Plans theme (Project Plan, Gantt Charts)5. Risks theme (Risk Management Approach, Risk Register)6. Change theme (Change Control Approach, Issue Register, Configurations Management)7. Progress theme (Project Controls)Processes:  Processes are steps involved to accomplish the project objectives. PRINCE2 processes express the flow of work from pre-initiation to the closure, which also includes key tasks or actions to be fulfilled by the project stakeholders (such as Project Board, Project Manager and Team Manager(s)).  PRINCE2 processes and their tasks are structured in such a way as to apply the Principles and Themes seamlessly. There are seven processes. 1. Starting Up A Project (feasibility checks)2. Directing A Project (Authorization and approvals)3. Initiating A Project (Solid foundation before execution of the project work)4. Managing Stage Boundaries (adjustments to the plans and activities, retrospections)5. Controlling A Stage (work package, managing of risks/issues, progress reporting)6. Managing Product Delivery (development of specialist products)7. Closing a Project (formally end the project)Benefits of PRINCE2: PRINCE2 provides good governance for project management. It can be applied in any industry, domain or organization (be it IT or non-IT). It can be tailored to be used alongside any other project management methodology. Common terminology or vocabulary helps in effective communication between all the project stakeholders. A defined structure for accountability, delegation, authority and communication is established with the help of project organization structure and all the key stakeholders are represented in this structure for better planning and decision-making. It focuses on delivering quality products to stakeholders to fulfill their needs and realize the benefits. Different types of plans suggested by PRINCE2 help to address the needs across different levels of management within the project organization. Manage by exception helps in avoiding micro-management with the help of delegation (with tolerances) and still having necessary control on the project work. PRINCE2 ensures benefit realization at its core, rather than simply completing the project within deadlines for cost and schedule. Traditional Project documentations are seen as bureaucratic in today’s agile world. PRINCE2 provides a comprehensive list of just enough documentation to suit any type of project. PRINCE2 recommends and provides control points to retrospect, learn lessons and continually improve the project work.  It provides confidence to the project board or decision makers by establishing transparent audit mechanisms.  How can PRINCE2 benefit you? If you are a student aspiring to get into a job, you will be well equipped with the project management skills you need, if you have a PRINCE2 certification before you enter the corporate world. If you are new to project management, PRINCE2 provides a brief overview of how to manage projects in a crisp and clear way. This can serve as your stepping stone into the field. If you are already a project manager encountering clients or customers using PRINCE2, it will help to align your work in PRINCE2 style. If you are already using PRINCE2 and encountering agile ways of working, you can learn more about tailoring PRINCE2 to suit agile environments using PRINCE2 Agile. How can PRINCE2 benefit your organization? If you are a start-up company running projects in your own heroic style, you can validate your ways of running projects with PRINCE2. If you see real value from this framework, you can start your PRINCE2 journey by simply using the Principles. This can save cost, improve project efficiency, infuse discipline and increase the success rate.  If you are an enterprise using different methods/models to manage projects, still you can try using PRINCE2 to suit your project environment. One of the important benefits of using PRINCE2 is effective use of management time. Concepts of delegating with tolerance nurtures a culture of empowerment and experimentation and increases agility & control.  If you are an organization working with clients using PRINCE2 models, it will benefit your project managers, team members and stakeholders to align the project work according to the customer’s needs.  Having PRINCE2 certified practitioners in your company will provide an advantage to bag new contracts/clients. There are many reasons for a project failure. Vital reasons are lack of management support, user involvement, incomplete requirements and many more. PRINCE2 provides a project organization structure with correct composition or representation from different stakeholder groups such as sponsor, user and supplier. If implemented correctly, entities will be abundantly benefitted in terms of increasing the success rates of projects by aligning and delivering the products as per the project vision or goals.  PRINCE2 is also robust and compatible with any other methods/methodologies/frameworks/good practices/tools/techniques that many organizations use. It serves as a backbone to support any initiatives. With agile models being rapidly implemented in today’s digital organizations, PRINCE2 can be easily tailored to run projects in an agile way.  If scaled properly, PRINCE2 can support the management of projects in any domain or industry of any complexity. Components of PRINCE2 Certification:There are two levels in PRINCE2 certification.  PRINCE2 Foundation is a pre-requisite to take up the Practitioner exam. If you are already a PMP/PRINCE2 Agile Foundation or Practitioner certified, you can directly take up the PRINCE2 Practitioner exam. There are also other foundational qualifications such as the PMQ or CAPM, among others, that make you eligible to write the Practitioner exam, provided you familiarize yourself with the PRINCE2 manual before the exam attempt. To read more about the PRINCE2 certification, please click here to read our blog on “Facts about PRINCE2 Examination”. Taking the exams:  PRINCE2 exams can be taken in 3 different modes:  Paper Based Test Computer Based Test Online Proctored Test You need to get in touch with an Accredited Training Organizations (ATO) to book your exam. ATOs are authorized by Axelos (which is the governing body). Please visit this website to find out your nearest ATOExamination Languages: The PRINCE2 Foundation and Practitioner examinations are currently available in English, German, Danish, Dutch, Polish, French and Norwegian. Certification Cost: The certification cost differs based on the mode of examination and geography. The cost of both Foundation and Practitioner exams together may cost you between $500 to $900. The training cost is NOT included in the certification cost. Please check with your nearest ATO for more details. You can also buy the exam directly from Peoplecert (Examination Institute authorized by Axelos). To know Peoplecert’s certification rates, please visitHow much can I earn? The modern job market seeks T-shaped professionals who are versatile in deep technical skills and broader management skills. Employers are looking for employees who have the right attitude to learn, adopt and adapt to current trends. Project management skills are highly recommended in this modern digital era. Projects are used as a tool to induce any changes in an organization/enterprise/government. Be it process improvement, new product development, commissioning or decommissioning an existing service or product, making significant changes to an existing product or service, changing from one service provider to another, transition activities, organizational transformation, responding to a competitor’s moves or technological advancements (like robotization, cloudification, artificial intelligence), environmental changes, action plan to address uncertain situations like COVID-19 etc.,  there is always a need for project related roles.  If you check for project manager jobs in LinkedIn, Naukri or any other job sites, depending upon your industry and location, there might be a few thousands of unfulfilled openings. We cannot eliminate the fact that many job requirements are fulfilled internally within an organization or through employee referrals or partners. As per PMI (Project Management Institute), demand for project managers will increase manifold in next 10 years. Please read “Project management Job Growth and Talent Gap Report” from PMI’s website. This report states that “by 2027, employers will need nearly 88 million individuals in project management-oriented roles. China and India will represent more than 75 percent of the total project management-oriented employment. ” This report shows that project managers are important contributors to productivity.  A snapshot of salaries related to project management roles in India published by PMI is furnished herewith. For more information about other countries, you may visitConclusion: Skills always matter in any job roles. PRINCE2 certification improves your position in the job market and career progression within project and program management by gaining a recognized qualification. PRINCE2 helps organizations to support business outcomes, show value for money, continually improve, manage risks in line with business needs, optimize customer experience and enable business change.  Some key benefits of using PRINCE2 for enterprises and practitioners are: improved delivery confidence, ability to talk the same language and support cross functional working, deliver what business needs in a customer-focused way that is scalable, and the ability to adapt and have flexible control.  

Does PRINCE2 Increase My Salary?

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Does PRINCE2 Increase My Salary?

What is PRINCE2®? 

PRINCE2® (PRojects IN a Controlled Environment) iproject management methodology to run Projects in an effective and efficient manner. It is one of the widely accepted project management frameworks by global organizations and practitioners 

PRINCE2 provides project essentials and serves as a barebone or backbone to run successful projects. This framework can be optimized to fit into any project environment (meaning any enterprises or government, industry, domain etc). 

PRINCE2 revolves around the core concepts of principles, themes and processes. 

Let’s get introduced to the PRINCE2 elements: 

Principles:  

Guiding principles or good practices or manifesto of PRINCE2 helps project practitioners across the globe to seed and nurture the right mindset, behaviour and culture while managing projects. There are seven principles. 

1. Continued business justification (business value, worthwhile, viability)

person running towards his golas

2. Learn from experience (retrospection, maturity, feedback, improvement)

Learn from experience

3. Defined roles and responsibilities (who is doing what, what is expected from whom, project stakeholders)

meeting about project stakeholders

 4. Manage by stages (boundaries, phases)  Manage by stages

5. Manage by exception (delegation of authorities with tolerance)Manage by exception

6. Focus on Products (quality-centric approach to product delivery) Focus on Products

7. Tailor to suit the project (less-bureaucratic)Tailor to suit the project

Themes:  

Project management revolves around high level tasks such as Plan, Execute, Monitor and Control and these activities, in turn, are centered around project aspects such as Scope, Cost, Time, Quality, Risks and Benefits. There are seven themes. Themes are important areas of focus and answer all the questions like: 

  • How to run the project? 
  • What documents/templates/logs/registers/plans/communications are required from the start to the closure? 
  • What techniques/methods are required to manage the project? 

1. Business Case theme (Business Case, Benefits Management Approach)Business Case theme

2. Organization theme (Project Organization Structure with roles and responsibilities, Communications Management Approach)

Organization theme

3. Quality theme (Quality Management Approach, Quality Register)

 Quality theme

4. Plans theme (Project Plan, Gantt Charts)

Plans theme

5. Risks theme (Risk Management Approach, Risk Register)

Risks theme

6. Change theme (Change Control Approach, Issue Register, Configurations Management)

Change theme

7. Progress theme (Project Controls)

Progress theme

Processes:  

Processes are steps involved to accomplish the project objectives. PRINCE2 processes express the flow of work from pre-initiation to the closure, which also includes key tasks or actions to be fulfilled by the project stakeholders (such as Project Board, Project Manager and Team Manager(s)).  

PRINCE2 processes and their tasks are structured in such a way as to apply the Principles and Themes seamlessly. There are seven processes

1. Starting Up A Project (feasibility checks)

Starting Up A Project

2. Directing A Project (Authorization and approvals)

Directing A Project

3. Initiating A Project (Solid foundation before execution of the project work)

Initiating A Project 4. Managing Stage Boundaries (adjustments to the plans and activities, retrospections)Managing Stage Boundaries

5. Controlling A Stage (work package, managing of risks/issues, progress reporting)Controlling A Stage

6. Managing Product Delivery (development of specialist products)

Managing Product Delivery

7. Closing a Project (formally end the project)Closing a Project

Benefits of PRINCE2: 

  • PRINCE2 provides good governance for project management. 
  • It can be applied in any industry, domain or organization (be it IT or non-IT). 
  • It can be tailored to be used alongside any other project management methodology. 
  • Common terminology or vocabulary helps in effective communication between all the project stakeholders. 
  • A defined structure for accountability, delegation, authority and communication is established with the help of project organization structure and all the key stakeholders are represented in this structure for better planning and decision-making. 
  • It focuses on delivering quality products to stakeholders to fulfill their needs and realize the benefits. 
  • Different types of plans suggested by PRINCE2 help to address the needs across different levels of management within the project organization. 
  • Manage by exception helps in avoiding micro-management with the help of delegation (with tolerances) and still having necessary control on the project work. 
  • PRINCE2 ensures benefit realization at its core, rather than simply completing the project within deadlines for cost and schedule. 
  • Traditional Project documentations are seen as bureaucratic in today’s agile world. PRINCE2 provides a comprehensive list of just enough documentation to suit any type of project. 
  • PRINCE2 recommends and provides control points to retrospect, learn lessons and continually improve the project work.  
  • It provides confidence to the project board or decision makers by establishing transparent audit mechanisms.  

How can PRINCE2 benefit you? 

  • If you are a student aspiring to get into a job, you will be well equipped with the project management skills you need, if you have PRINCE2 certification before you enter the corporate world. 
  • If you are new to project management, PRINCE2 provides a brief overview of how to manage projects in a crisp and clear way. This can serve as your stepping stone into the field. 
  • If you are already a project manager encountering clients or customers using PRINCE2, it will help to align your work in PRINCE2 style. 
  • If you are already using PRINCE2 and encountering agile ways of working, you can learn more about tailoring PRINCE2 to suit agile environments using PRINCE2 Agile. 

How can PRINCE2 benefit your organization? 

  • If you are a start-up company running projects in your own heroic style, you can validate your ways of running projects with PRINCE2. If you see real value from this framework, you can start your PRINCE2 journey by simply using the Principles. This can save cost, improve project efficiency, infuse discipline and increase the success rate.  
  • If you are an enterprise using different methods/models to manage projects, still you can try using PRINCE2 to suit your project environment. One of the important benefits of using PRINCE2 is effective use of management time. Concepts of delegating with tolerance nurtures a culture of empowerment and experimentation and increases agility & control.  
  • If you are an organization working with clients using PRINCE2 models, it will benefit your project managers, team members and stakeholders to align the project work according to the customer’s needs.  
  • Having PRINCE2 certified practitioners in your company will provide an advantage to bag new contracts/clients. 
  • There are many reasons for a project failure. Vital reasons are lack of management support, user involvement, incomplete requirements and many more. PRINCE2 provides a project organization structure with correct composition or representation from different stakeholder groups such as sponsor, user and supplier. If implemented correctly, entities will be abundantly benefitted in terms of increasing the success rates of projects by aligning and delivering the products as per the project vision or goals.  
  • PRINCE2 is also robust and compatible with any other methods/methodologies/frameworks/good practices/tools/techniques that many organizations use. It serves as a backbone to support any initiatives. With agile models being rapidly implemented in today’s digital organizations, PRINCE2 can be easily tailored to run projects in an agile way.  
  • If scaled properly, PRINCE2 can support the management of projects in any domain or industry of any complexity. 

Components of PRINCE2 Certification:

  • There are two levels in PRINCE2 certification.  
  • PRINCE2 Foundation is a pre-requisite to take up the Practitioner exam. 
  • If you are already a PMP/PRINCE2 Agile Foundation or Practitioner certified, you can directly take up the PRINCE2 Practitioner exam. 
  • There are also other foundational qualifications such as the PMQ or CAPM, among others, that make you eligible to write the Practitioner exam, provided you familiarize yourself with the PRINCE2 manual before the exam attempt. 

To read more about the PRINCE2 certification, please click here to read our blog on Facts about PRINCE2 Examination”. 

Taking the exams:  

  • PRINCE2 exams can be taken in 3 different modes:  
    • Paper Based Test 
    • Computer Based Test 
    • Online Proctored Test 

You need to get in touch with an Accredited Training Organizations (ATO) to book your exam. ATOs are authorized by Axelos (which is the governing body). Please visit this website to find out your nearest ATO

Examination Languages: The PRINCE2 Foundation and Practitioner examinations are currently available in English, German, Danish, Dutch, Polish, French and Norwegian. 

Certification Cost: 

  • The certification cost differs based on the mode of examination and geography. The cost of both Foundation and Practitioner exams together may cost you between $500 to $900. The training cost is NOT included in the certification cost. Please check with your nearest ATO for more details. 
  • You can also buy the exam directly from Peoplecert (Examination Institute authorized by Axelos). To know Peoplecert’s certification rates, please visit

How much can I earn? 

The modern job market seeks T-shaped professionals who are versatile in deep technical skills and broader management skills. Employers are looking for employees who have the right attitude to learn, adopt and adapt to current trends. Project management skills are highly recommended in this modern digital era. 

Projects are used as a tool to induce any changes in an organization/enterprise/government. Be it process improvement, new product development, commissioning or decommissioning an existing service or product, making significant changes to an existing product or service, changing from one service provider to another, transition activities, organizational transformation, responding to a competitor’s moves or technological advancements (like robotization, cloudification, artificial intelligence)environmental changes, action plan to address uncertain situations like COVID-19 etc.,  there is always a need for project related roles.  

If you check for project manager jobs in LinkedIn, Naukri or any other job sites, depending upon your industry and location, there might be few thousands of unfulfilled openings. We cannot eliminate the fact that many job requirements are fulfilled internally within an organization or through employee referrals or partners. 

As per PMI (Project Management Institute), demand for project managers will increase manifold in next 10 years. Please read “Project management Job Growth and Talent Gap Report” from PMI’s website. This report states that “by 2027, employers will need nearly 88 million individuals in project management-oriented roles. China and India will represent more than 75 percent of the total project management-oriented employment This report shows that project managers are important contributors to productivity.  

A snapshot of salaries related to project management roles in India published by PMI is furnished herewith. For more information about other countries, you may visit

Conclusion: 

  • Skills always matter in any job roles. 
  • PRINCE2 certification improves your position in the job market and career progression within project and program management by gaining a recognized qualification. 
  • PRINCE2 helps organizations to support business outcomes, show value for money, continually improve, manage risks in line with business needs, optimize customer experience and enable business change.  
  • Some key benefits of using PRINCE2 for enterprises and practitioners are: improved deliverconfidence, ability to talk the same language and support cross functional working, deliver what business needs in a customer-focused way that is scalable, and the ability to adapt and have flexible control 
Manikandan

Manikandan Mohanakrishnan

Author

Manikandan M is a Senior Consultant with over 18+ years of industry experience. He is specialized in Service Management, Project Management, Process Consultancy, Learning & Development, IT Infrastructure Management, Business Relationship Management, Partner Management. 

Manikandan worked as a Project Manager with IBM India Private Limited where he was responsible for the delivery of complex infrastructure projects for an Australian Bank. 

Additionally, he worked as a Service Delivery Manager with TPV Technology India Private Limited to manage Service Operations and Projects across SAARC nations. 

Over the past 5 years he focused on training and consulting with various service providers. 

He delivered more than 500+ sessions on Service Management and Project Management modules. 

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Owing to the benefits that they bring in, CAPM practitioners are much in demand.Benefits of getting CAPM certifiedLearn the right skills in project managementGain insights into project executing, monitoring, controlling and managementBe thorough in estimating project activity costsAchieve quality management and quality assurance at every stageMaster global project management best practicesOpen yourself to new opportunities and lucrative job offersEnhance your market credibility  Gain 23 contact hours/PDUsBe part of the PMI network and gain several benefitsEarn average salaries from $93,500 to $111,500Top companies that hire CAPM professionalsKaiser PermanateAecom CorporationSAP AmericaBooz, Allen, HamiltonInternational Business Machines (IBM) CorpWhere to take training for certification: Aspirants must train from an Authorized Training Partner (ATP) of PMI.Who should take the training for certificationAssociate Project ManagersProject ManagersIT Project ManagersProject CoordinatorsProject Analysts, Project LeadersSenior Project ManagersTeam LeadersProduct ManagersProgram ManagersProject SponsorsProject Team MembersEligibilitySecondary degree (high school diploma, associate’s degree or the global equivalent)23 hours of project management education completed by the time you sit for the examExam FormatNo of questions: 150 questions Time: 3 hoursDifficulty level: Moderate but requires thorough knowledge of project management principlesDuration to get certified: After completing your 23 hours of CAPM workshop training, you need to dedicate around 45-60 hours to ensure complete preparation for the exam. Your web-based exam results will be visible to you immediately upon completion of the exam. Course fee for certification: INR 8999, USD 799Application fee for certification: For PMI membership: USD $ 129 plus USD $10 for application fee.Exam fee for certification:In IndiaMember: ₹17,377.00Non-member: ₹23,169.00In U.S.Member: $435Non-member: $4953. PMI-RMP®: Project Management Institute-Risk Management ProfessionalThe pandemic exposed many vulnerabilities that organizations had not been prepared for. When faced with unprecedented risks, organizations need specialists who can identify and assess project risks, mitigate threats and take advantage of opportunities. The PMI-RMP course and certification prepares professionals to perform this role and successfully steer projects in complex environments.PMI-RMP Demand: According to the 2015 Pulse of the Profession® by PMI, “Eighty-three percent of organizations that are high performers in project management practice risk management frequently while just 49 percent of low performers do so”. This shows the importance of risk management and the emphasis organizations place on qualified risk managers.Benefits of getting PMI-RMP certifiedApply risk management practices for greater competitive advantageIdentify and measure risks in project development and implementationQuantify and create risk response strategies to deliver products that meet stakeholder expectationsUse a proactive and focused approach to preventing problems, rather than dealing with them once they occurIncrease your visibility within the companyAim for greater career growthEarn salaries upto $115,931Top companies that hire PMI-RMP professionalsWhere to take training for certification: Aspirants must train from an Authorized Training Partner (ATP) of PMI.Who should take the training for certificationRisk ManagersRisk Management ProfessionalsProject ManagersProject SponsorsProgram ManagersProject EngineersProject CoordinatorsPlanning ManagersPlanning EngineersProject Cost Control EngineersQuantity SurveyorsCivil EngineersIT Project ManagersProduct ManagersProject AnalystsBusiness AnalystsProject LeadersProject Co-ordinatorsTeam LeadersTeam MembersEligibilityTo apply for the PMI-RMP® Credential, you need to possess a:Secondary degree (high school diploma, associate’s degree, or the global equivalent)4,500 hours of project risk management experience40 hours of project risk management educationORFour-year degree (bachelor’s degree or the global equivalent)3,000 hours of project risk management experience30 hours of project risk management educationExam FormatNo of questions: 170 questions Type: Multiple ChoiceTime: 3.5 hoursDuration to get certifiedApplication fee: For PMI membership: USD $ 129 plus USD $10 for application fee.Course fee for certification: INR12999, USD 999Exam fee for certificationIn U.S.Member: $520Non-member: $670Retake fee for certificationMember: $335Non-member: $4354. PRINCE2® Foundation/PRINCE2 PractitionerThe PRINCE2 (PRojects IN Controlled Environments) Foundation and Practitioner credentials are sought-after offerings from AXELOS. There are a number of credentials offered under PRINCE2 that make it suitable for a wider audience. Axelos keeps the PRINCE2 curriculum regularly updated with the latest industry advances, which makes it suitable for new age project management and intensive, demanding projects.  PRINCE2 Demand: PRINCE2 extends its applicability across industries and sectors. This makes it very popular in the market as it is a one size fits all model. Although PRINCE2 was founded in the UK, it has now firmly established its presence in industries across the world. According to a report in LinkedIn, PRINCE2 is the most popular project management methodology. A professional adept at PRINCE2 and holding the credential is highly valuable and sought after by organizations implementing PRINCE2 for their projects.  Benefits of getting PRINCE2 certifiedGuide projects in their entiretyTailor PRINCE2 to suit the needs of projects and organizationsValidate your commitment to continued excellence and quality Master and demonstrate your proficiency of the PRINCE2® framework Gain project management best practices and grow your career with confidence Work across projects in diverse sectors and industriesShow your ability to work in challenging work environments Command higher salaries (upto $99,012 average) than your non-certified peers Top companies that hire PRINCE2 professionalsShellBPTranspower New ZealandIBMHPAquasoftGetronicsSiemensWhere to take training for certification: Aspirants must undertake training from a Certified Partner of AXELOS and an accredited training organization (ATO) with PeopleCert®.Who should take the training for certification?Project ManagersProject CoordinatorsProject AnalystsProject LeadersProduct ManagersProgram ManagersProject SponsorsTeam LeadersSenior Responsible OwnersProduct Delivery ManagersBusiness Change AnalystsProject and Programme Office PersonnelOperational Line ManagerAnyone who wishes to build up knowledge in project management EligibilityThere are no eligibility requirements for the PRINCE2® Foundation certification exam. To qualify for the PRINCE2 Practitioner exam, you must have at least one of the following certifications: PRINCE2® Foundation or higher (applicable only to certificates obtained after 1 January 2009) Project 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) IPMA Level D® (Certified Project Management Associate) Project Management Qualification (PMQ) Project Professional Qualification (PPQ) Exam FormatFoundation ExamDuration: 60 minutes (1 hour) Questions: 60 Multiple choice questions Pass mark: 33 out of 60 available, or 55% Use of textbook: No, it’s a closed book examPractitioner Exam Duration: 150 minutes (2.5 hrs) Questions: 68 Objective type questions Pass mark: 38 out of 68 available, or 55% Use of textbook: Yes, but only the official PRINCE2® manual is permitted. Duration to get certifiedYou will need to attend 32-hours of PRINCE2® Foundation and Practitioner training from an ATO of AXELOS and PeopleCert®, following which you will be required to take the exams to demonstrate your knowledge of PRINCE2 and get certified. The results of your tests are issued within 2 business days from the date of your exam.  Course fee for certification: USD 1999Exam fee for certification: Included in course fee5. PgMP®: Program Management Professional (PgMP)® Certification TrainingAnother project management from the PMI, this credential is more advanced than the PMP and certifies the holder’s ability to manage complex projects that cover functions, organizations, cultures and geographies. The credential mandates holders to be proficient in the six prime focus areas: Governance, Prioritization, Escalation, Resource Management, Benefits Realization, and Stakeholder Management.PgMP Demand: Credentials from the PMI are known for their rigorous standards and testing, which is why they are well accepted in industries across sectors. PgMP holders are better able to promote integration and coordination of multiple projects for the overall benefit of the program. According to PMI’s 2015 Pulse of the Profession® report, an organization’s projects are far more successful with program management than without it — 76 percent compared to 54 percent. This further compounds the demand for PgMP professionals. Benefits of getting PgMP certifiedGet in-depth knowledge of tools and techniques to handle complex multiple related projectsUnderstand Program Lifecycle and its processes, competencies, tools and techniques with practical sample templatesLearn to implement large-scale programs to align with business strategyOpen yourself to lucrative job opportunities and leadership rolesWork in projects across geographiesEarn high salaries, upto $139,000 on averageTop companies that hire PgMP professionalsAmazonGoogleMicrosoftCognizantCapgeminiDeloitteJP Morgan ChaseErnst & YoungWhere to take training for certification: Aspirants must train from an Authorized Training Provider of PMI®Who should take the training for certificationTeam LeadsSponsorsProject DirectorsProgram ManagersPortfolio Managers  Project Management Office (PMO) HeadsEligibilityA Four-year Degree (Bachelor's or Global equivalent), with at least four years of Project Management experience and four years of Program Management experience.ORA Secondary Diploma (High school or Global equivalent), with at least four years of Project Management experience and seven years of Program Management experience. Exam FormatNo of questions: 170 multiple-choice, of which 20 are considered pretest questions which are not scored.Question type: Most questions are scenario based and test a professional's understanding and clarity of thoughts on different Program Management concepts.Time: 4 hoursDifficulty level: DifficultDuration to get certified: You have to complete your 24 hours of training from an Authorized Training Partner (ATP) of PMI. Make a study plan and stick to it religiously. The PgMP is considered to be more difficult than the PMP and requires a fair bit of preparation. Once you pass the 4-hour exam you will be PgMP certified.  Course fee for certification: INR 13,999; USD 1199Application fee for certification: For PMI membership: USD $ 129 plus USD $10 for application fee.Exam fee for certificationIn IndiaMember: ₹46,338.00Non-member: ₹77,230.00In U.S.Member: $800Non-member: $1000Retake fee for certificationMember: $600Non-member: $8006. PMI-ACPPMI-ACP Demand: Agile is a fairly new concept in the context of product development. Though organizations reap immense benefits by adopting Agile, the road to transformation can often turn out to be expensive if not well executed. PMI-ACP professionals are therefore in huge demand as they can bring in project management best practices in Agile environments and ensure project success.  Benefits of getting PMI-ACP certifiedThe shortage of Project Managers has increased job opportunities in the Agile environmentYou will qualify for Agile jobs with expertise in Agile methods like Scrum, FDD, Kanban, etc. which are in demand in the industryEarn salaries in the range of $108,000 on an averageEquips you with knowledge of various Agile methodsMakes you more marketableTop companies that hire PMI-ACP professionalsStandard CharteredOracleIBMVMWareSource: IndeedWhere to take training for certification: Aspirants must train from an Authorized Training Provider of PMI® Who should take the training for certification?Project ManagersProject PlannersQuality Assurance StaffDevelopers/ProgrammersDesigners, TestersProject ControllersProduct OwnersScrum MastersScrum Team MembersEligibilityTo apply for the PMI-ACP®, candidates must meet the following requirements:1. General Project Experience2000 hours of working on project teams within the last 5 years or having an active PMP®/PgMP® credential2. Agile Project Experience1500 hours of working on Agile Project Teams or with Agile Methodologies, in addition to “General Project Experience” above;3. Training in Agile Practices21 contact hours earned in Agile PracticesExam FormatNo of questions: 120 MCQ, of which 20 are pre-testDuration: 3 hoursDuration to get certified: Once you complete the course, you need to schedule the exam date. Exam applications have to be submitted and approved by PMI. Online applications m ay take upto five business days to get processed. Once your application is processed, you can schedule your exam date, and on passing receive the PMI-ACP credential.Course fee for certification: INR 10,999, USD 1099Application fee for certification: For PMI membership: USD $ 129 plus USD $10 for application fee.Exam fee for certificationFor members: $435Non-members: $495Retake fee for certificationMembers: $150Non-members: $200SummaryProject Management is among the most sought after job roles, not only in the tech industry but any industry that executes and manages projects. By 2027, 88 million individuals will need to be skilled in project management-oriented roles. This makes it among the hottest job trends in the coming years, and a credential will go a long way in helping you capitalise on this trend.
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Best Project Management Certifications in 2022

While nothing can replace industry work experience... Read More

Project Management: What’s Trending in 2022

Project management is the practice that is used to initiate, design, execute, control, and close a team's work in order to reach specific objectives and fulfil specific success criteria at the specified time. The main challenge of project management is to achieve all project objectives within the given limits.A decade ago, managing projects was difficult and challenging. It was difficult to set clear goals with less project management tools and projects were being managed by smaller teams with simpler projects.Fast forwarding to 2022, the scenario is completely different as Project Management seems like a phoenix rising from the ashes. The teams are no longer small, nor are the tasks, and the goals are defined with a proper system.The project management industry is quickly evolving, keeping pace with advanced technologies, tools, and the latest trends.Today, we will discuss the top 5 Project Management global trends in 2022.1. Artificial Intelligence (AI) & Automation Will Impact ProjectsArtificial Intelligence has had a very positive impact on projects. According to a PMI report, software development, aerospace, healthcare and financing all implement Artificial Intelligence in their way of managing projects.The first thing project managers need to do is take AI into account in project management and then learn how to utilize it for successfully completing projects.Using AI in automating data will make it easier to handle projects than before. Moreover, you can form positive business relationships with your team members and clients, resulting in proper coordination and transparency.It’s quite common to witness poor estimates and unknown external factors pushing the deadline. Artificial intelligence can calculate the duration, cost and progress of a project properly and predict realistic project schedules.2. More Project Managers Will Incorporate Hybrid Project ManagementEvery project is created differently and differs in methodology and execution. No wonder the concept of hybrid project management is becoming increasingly popular and with every passing day, many Project managers and Scrum masters are combining more than one methodology.According to PMI reports, Hybrid project management aims to combine standard project management techniques with the agile methodology.When the hybrid model, such as combining a traditional approach is implemented with an Agile process, team members from different points of view and work styles will collaborate and achieve more flexibility, dedication, and productivity in their own way.Project managers are inclining to this flexible approach of projects in the current year. A combination of agile and traditional methodologies is best suited in a multi-project environment, where complex parts are executed using agile, and a traditional method is used for the simpler parts.3. Managing Projects Will Become Easier with Emotional Intelligence (EI)It seems strange, but project success is related to humans understanding and realizing emotions. How? According to PMI.org emotional intelligence can strongly predict performance no matter what job you do. It allows clients, team members, sponsors and management to interact with each other with clarity, handle challenges efficiently and make committed choices to act strategically and swiftly. EI is now an essential technology for a successful business outcome.Understanding the emotions of the team members and dealing with different personalities ensures that the project keeps progressing at a smooth and constant pace. This is an invaluable leadership ability for project managers around the world.Therefore, it becomes more important than ever to learn about emotional intelligence and what drives people to predict future project success.4. Remote Working is on the RiseThe trend of working remotely is now extremely common and this will go on in future too. There are a lot of advantages when people work remotely. It offers more flexibility and saves a lot of time as you don’t need to travel to your workplace. The costs to the project and company get further reduced leading to the development of talent. According to the results of a survey by Wrike, 83% of respondents work remotely every day for at least one to two hours. 43% of them reported that they work remotely now, more than they did a couple of years ago.When working remotely, projects will be managed by:Setting up daily, stand-up meetings and calls to stay updated on the progressHaving your team members keep you updated on any project changes or updatesUsing online collaboration tools such as Microsoft Planner to collaborate with team members and never miss out on any changes or updatesDoing quarterly individual assessments in a yearThe future of project management will witness a steep rise in next-gen project managers, project management offices, and more focus stepping up cybersecurity. Project managers should pay attention to these trends to successfully lead their teams.5. More Jobs Will be Available for Project ManagersProject managers are involved in every possible industry. According to ‘The Project Management Institute (PMI) report’ last year, the project management labour force is predicted to grow by 33 percent in over 11 countries by 2027. There will be a wide range of jobs for project management and these are estimated to grow over the next 10 years. Some of them are in industries like: Management and Professional ServicesManufacturingFinance and InsuranceInformation Services and PublishingConstructionUtilitiesOil and GasBy 2027, nearly 88 million professionals will be required in project management-oriented roles. The first in the race to hire are China and India forming more than 75 percent of the total project management-oriented employment.The report further stresses that project managers are key in delivering successful projects and products. Acting otherwise can potentially create a loss of nearly US$208 billion in GDP over the 10 years in the 11 countries examined.With the new trends of 2022, project management will be playing a major role in fastening product development with its new technologies, and in turn, increasing workflow efficiency. Owing to its exponential growth, multiple job opportunities will be created, and staying on top of the latest trends will give one the leverage to make the most of such changes.
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Project Management: What’s Trending in 2022

Project management is the practice that is used to... Read More