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What is PRINCE2®

PRINCE2® is one of the methodologies which will lend you a helping hand in managing your project in a successful manner.In this article, we will discuss its various aspects, just enough to provide you with the perfect launching platform to comprehend everything about PRINCE2®, all the information that you will need before you dive in for more details later on.Not only that, you will also get an overview of how you need to engage yourself with this project management method.Let us begin with the basics.What is PRINCE2®?PRINCE2®, an acronym for PRojects IN Controlled Environments, in fact, is a process-based method to manage any project effectively.One of the frequently-used project management methods, PRINCE2® is used by many people and organisations from various sectors and industries. It is practical, flexible, and innovative. Whatever project it may be, whether it is about constructing a flyover, developing software, or even putting forward an advertising campaign, the themes, processes, and principles of PRINCE2® will help you realise all of them. This method belongs to the public domain, and provides a generic but the best guidance to managing any project.Key Features of PRINCE2®:Focus on business justificationDefined organisation structure for the project management teamProduct-based planning approachEmphasis on dividing the project into manageable and controllable stagesFlexibility that can be applied at a level appropriate to the project.History of PRINCE2®PRINCE2® originated from PROMPT II (Project Resource Organisation Management Planning Techniques).PRINCE was originally based on PROMPT, a project management method created by Simpact Systems Ltd in 1975, and adopted by CCTA in 1979 as the standard to be used for all Government information system projects.In the year 1989, a version of PROMPT II was adopted as a UK Government standard for information systems (IT) project management by CCTA, Central Computer and Telecommunications Agency. In June 2010, the Office of Government Commerce Best Practice Management functions moved into the Cabinet Office.However, it was renamed in a Civil Service competition to ‘PRojects IN Controlled Environments’. In a short span of time, PRINCE was applied even outside the IT environment, both in the UK Government and private sectors.On PRINCE being launched in the year 1989, it effectively superseded PROMPT within Government projects. PRINCE remains in the public domain and the crown holds its copyright. PRINCE2® was published in 1996, having been contributed to by an association of some 150 European organisations.PRINCE2® was released in the year 1996 as a common project management method.Since then, it has gained increasing popularity, and now it is a de-facto standard for project management in many UK Government departments and across the United Nations systems as well.After being revised again in the year 2009, the acronym was changed, this time to ‘PRojects IN a Controlled Environment’.Ever since PRINCE2® was launched (1996), it has undergone two significant revisions:‘PRINCE2®:2009 Refresh’ in the year 2009‘PRINCE2® 2017’ Update in 2017Which are the most popular regions for PRINCE2®?As you came to know in the section above, PRINCE2® was born in the UK, and later on, this methodology took many regions of the world by storm. Its simple, yet effective themes, processes, and terminologies have brought a new perspective in the world of project management.Till date, the UK has more PRINCE2® certificate holders than any other country across the globe. But now, there are more certificate holders across the rest of the world.According to the Axelos 2016 report:88% of PRINCE2® certificate holders said it had been valuable to their career85% of practitioners stated that PRINCE2® certification has been useful current roleOver 80% of professionals surveyed see the value of working in an agile way.Meanwhile, along with the massive global presence and momentum of PRINCE2®, there are already many established countries that adopted PRINCE2® .Here are the most traditionally popular PRINCE2® regions:UKThe NetherlandsAustraliaEastern and Western Europe – Poland, Denmark, GermanyIt has been some years now, and PRINCE2® has really strengthened its grip in the economic market of superpowers like India and China. In the year, 2012, PRINCE2® examinations in India increased by 168%. A year later, the increase in the rate of examination in China overtook India. These figures look perfect for the project managers. China and India both are ambitious nations and it makes complete sense about why they have adopted PRINCE2® methodology for their projects.More current figures from AXELOS, represent the regions going through the biggest increase in PRINCE2® examinations with every passing year:Why do I need to implement PRINCE2® in my organisation?Well, as stated earlier, PRINCE2® is a high standard method for project management. But what makes it stand out from the other methodologies?Simply because it is adaptable and flexible. Let us elaborate on this.The reason why PRINCE2® is adaptable and flexible is that it represents years of best practice in project management. It focuses on a diverse variety of disciplines and activities, ones which are important while driving a project, and emphasises on the direction the project needs to head towards, that is, ‘Why’, ‘When’, and for ‘Who to’.What it has to provide your organisation with are stated below-It provides a common and seamless approach.Helps in keeping a project organised throughout the process.Repeated and timely reviews of progress are made against plan and Business case flexible decision pointsEnsures that the project continues to meet the business requirements.Provides flexible decision points.Aids to management control of any deviations from the plan if there are anyThe involvement of management and stakeholders at the right time and place during the project.Helps in maintaining good communication channels between the project, project management, and the rest of the organisation.Provides a method of capturing and sharing lessons learnt.Secures a pathway to increasing the project management skills and competences of the organisation's staff at all levels.All right, but why use a project management methodology?It has been known from various surveys that the project managers of high-performing projects are most likely to have been PRINCE2® certified. It enables them to manage the project, take risks, and have control over the use of resources.Since PRINCE2® and its methods are widely renowned and understood, it provides a common language for all the members in a project.It represents years of project management best practice that provides information about a lot of ‘Dos’ and ‘Don’ts’ to the participants in a project.With PRINCE2®, it will become easy for you to maintain a flexible and improved communication system throughout the project by employing Agile methods.Tell me about the training and certificationsPRINCE2® certification is awarded by AXELOS, and in order to get the certification, the user needs to take part in a training course with an Accredited Training Organisation, after which the user needs to sit for an examination. There are three ways to undertake the course: Virtual, Online, and Classroom. Trainers must be re-accredited once in every 3 years and undergo a surveillance check once every year.However, PRINCE2® examinations are either undergone:As a part of a PRINCE2® accredited training course through your PRINCE2® training providerOnlineAt a public PRINCE2® examination centre.Whichever option you select, the PRINCE2® examinations you appear for will have the same style and structure.There are four levels of certification for PRINCE2®:1. PRINCE2® 2017 Foundation: This level of certification confirms that the holder has adequate knowledge and understanding of the method of PRINCE2® and is qualified to work in a project management team using the very method.If you opt for this, then you must be able to:Describe the motive and major content of all roles, the seven principles, the seven themes, and the seven processes.State which management products considered as input or output by using the seven processes.State the main purpose and key contents of the major management products.State the relationships between processes, deliverables, roles, and the management dimensions of a project.2. PRINCE2® 2017 Practitioner: This level of certification confirms that the holder has developed an adequate understanding of the way the concepts of PRINCE2® can be applied in a certain given scenario and will be able to apply the same in a real project scenario under proper guidance. However, qualified PRINCE2® Practitioners who pursue the APMP qualification of the Association for Project Management (APM), are not eligible to attend certain topics of the syllabus, ones that are covered in PRINCE2® Practitioner qualification.         If you go for this, then you must be able to:Produce detailed explanations of all principles, themes, and processes and worked examples of all PRINCE2® products as they might be applied to address the particular circumstances of a given project scenario.Show that you comprehend the relationships between principles, themes, and processes and PRINCE2® products and can apply this understanding.Demonstrate that you understand the reasons behind the principles, themes, and processes of PRINCE2® and that you understand the principles underpinning these elements.Demonstrate your ability to tune PRINCE2® to different project circumstances.The examinees are strongly advised to read the book and review the test exams time and time again.3. PRINCE2® Agile Foundation:This level of certification was released in June 2018 and establishes the fact that the holder has sufficient knowledge and understanding of PRINCE2® and the Agile way of working and is able to work in a project management team by combining the concepts of both.4. PRINCE2® Agile Practitioner: This level of certification identifies the holder as being able to implement the principles of PRINCE2® in project management and apply the concepts of Agile, such as Scrum and Kanban.So, in a brief, to get PRINCE2® Agile Foundation or Agile Practitioner certification, you need to:Show that you understand the basic concepts of the common agile ways of workingShow that you understand the purpose and context for combining PRINCE2® and the agile way of workingDemonstrate your ability to fix and flex the six aspects of a project in an agile contextDemonstrate the ability to tailor the PRINCE2® principles, themes, processes and management products to a project in an agile context.You can visit our link to know more about PRINCE2® Foundation and Practitioner Certification TrainingWhat is the process of Examination?Although you were informed about the four levels of certification in the previous section, the examination format varies accordingly.We will provide you with a brief insight on each format and the prerequisites so that you get a general idea about the same before selecting a course with us.So, here are the four examination formats.The PRINCE2® Foundation Examination format:The duration of examination is 60 minutes.There will be a total of 60 questions.It will be a closed-book examination.You will need to have at least 33 out of 60 questions correct, that is, a pass mark of 55%.Prerequisites: There are no specific pre-conditions for the Foundation level certification.You may study this on your own or as take it as a prerequisite to the PRINCE2® Practitioner course.However, with respect to the PRINCE2® Certification Requirements, while it is not mandatory, having a basic knowledge of managing projects is always preferred.The PRINCE2® Practitioner Examination format:The duration of examination is 60 minutes.There will be a total of 68 questionsYou will need to have at least 38 out of 68 questions correct, that is, a pass mark of 55%.It will be an open-book exam (official PRINCE2® manual only).However, if you take the examination in your native language, then the duration of the same will be for 150 minutes. If not, it will be for 188 minutes. The distribution of the questions will be as follows:35 questions from the theme25 questions from the processesAnd 8 questions from the principles.Prerequisites:In order to appear for the PRINCE2® Practitioner examination, you must be able to provide a proof of passing one of the following exams: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)IPMA Level D (Certified Project Management Associate).The PRINCE2® Agile Examination format:It will be an objective test.There will be 50 questions, each worth one mark.You will need a score at least 30 marks to pass (out of 50 available), that is, 60%.The test duration will be of two-and-a-half hours (150 minutes), no additional reading time.It will be an open-book exam (official PRINCE2® Agile guide only)What are the Prerequisites?In order to sit for the PRINCE2® Agile examination, you must have a Registered PRINCE2® Practitioner status (i.e. hold a current PRINCE2® Practitioner certificate).But why should I get PRINCE2® Certified?There are many reasons why it is recommended to study PRINCE2®.The most notable of them are:It is the industry standardIf you are looking to work in project management, then your search ends at PRINCE2®.PRINCE2® is a qualification that is recognised worldwide, one that is approved by the UK government as a best practice for project management. It has turned into an important benchmark of capability within the industry, and is considered an important requirement for those looking to further their project management careers.It helps in gaining First Class Project Management SkillsPRINCE2® offers the skills that will make you confident about managing projects with success. The key element it follows is using a common language, systems, and procedures. What results is you being able to govern resources and risks with fewer mistakes, but the incidents will teach you and your team how to learn from the same mistakes.Irrespective of the type of project, organisation, or industry one is involved with, PRINCE2® is adaptable enough to be seamlessly adjusted, not to forget the immense amount of time, money, and effort it saves.The time taken for you to qualify will not take longIt will not take you long to complete all the certifications of PRINCE2®. Their duration is from 20 to 50 hours for the entry-level PRINCE2® Foundation level, two to three days for the PRINCE2® Practitioner and Professional levels.The first level can be studied online. You can take your own time in scheduling your studies according to the time table. However, if you desire to finish your qualifications at a quicker pace, then there are a host of bundled packages having different classifications together.It assists you in shaping your career by getting better jobsHaving a PRINCE2® certification adds credibility to your CV. It is a renowned international product which has the quality method for managing any project. According to Arras People's 2011 survey, half of the people who opted for the same have certifications in PRINCE2®. This clearly explains why so many companies are hiring candidates who are certified in PRINCE2®.The 2016 AXELOS PRINCE2® survey shows that a majority of the surveyees, particularly from Germany and the Netherlands, felt that PRINCE2® certification is essential for a better career growth. The ones to opine otherwise stood at less than 10% of the total votes.A better future is accomplished by continuously being equipped with the best of the upgrades available and a PRINCE2® certification is one of those top-tier choices.It will qualify you to earn more moneyMany companies worldwide offer an average annual salary of around $42,380 to PRINCE2® Foundation certified candidates. Potential candidates could earn up to $66,206 after they complete their PRINCE2® Practitioner certification,So, being PRINCE2® certified helps you secure your financial benefits and career on a long-term basis.You will be open to more opportunities globallyIt is a fact. PRINCE2® qualifications are recognised and acclaimed globally. So, there is no doubt that it creates more opportunities for you globally.Did you ever dream of working abroad? If yes, then project management could be the ideal choice.What is the cost of the components of the certification?Whether it is PRINCE2® Foundation or PRINCE2® Practitioner, the total cost is split into various segments and varies from country to country and from one accredited training organisation to another. All the fees mentioned here have approximate values and may be subjected to change depending on the region.The components involved in the PRINCE2® certification cost are:PRINCE2® TrainingPRINCE2® examCost of Sample Examination papersStudy GuideMembership fee.Well, opting for a PRINCE2® course online means that the cost of your training component in PRINCE2® could be as low as under $300, considering that you go for a PRINCE2® Foundation & Practitioner Certification examinations bundle. Choosing this combination will give you access to the entire course lasting for a year. Some training providers offer such courses for just $60, provided you want to complete the same within a month. Generally, the Foundation examination could cost around $900 but you automatically would end up paying much less on the PRINCE2® certification if you get one of those bundled courses including both PRINCE2® Foundation & Practitioner Certification examinations.However, in case you think about attending a classroom training, then you may have to pay around $1000 for your PRINCE2® certification. A few of these PRINCE2® courses cover the cost of the PRINCE2® Foundation & Practitioner Certification examinations. So keep the cost of the PRINCE2® certification in mind if you are planning to go for PRINCE2® training. Moreover, take time to pay attention to the extent of course coverage, flexibility and the bundled services that are provided. This will help you cut down on the cost of PRINCE2® certification.PRINCE2® course onlineIf you go for a PRINCE2® course online, you will save a lot of money on the PRINCE2® examination cost. PRINCE2® course online for the Foundation level may cost you €450 or more, but the classroom session may cost €1000 or more. Speaking of PRINCE2® examination cost, you will be able to save quite a lot of money by going for the online course.And what about the future of PRINCE2® professionals?To determine if the PRINCE2® certifications are worth going for, you will need to have a look at the average salaries of the jobs targeted at PRINCE2® certified Project Managers.The average salary of PRINCE2® certified employees is around $85,000 to $90,000.        A number of studies and surveys demonstrate the fact that PRINCE2® certified professionals earn more than their non-certified peers.You may start with the job role of a coordinator or an administrator, but you can rise up to a director’s position with the aid of a PRINCE2® certification.With the help of a PRINCE2® certification, you also become skilled in handling project delivery successfully, thus becoming an invaluable asset to your company.A PRINCE2® certification imparts knowledge on how to manage your resources on the project effectively. Moreover, you will be able to effectively take care of risks and hence aid businesses more.Axelos survey revealed that individuals feel that PRINCE2® Foundation & Practitioner Certification is an invaluable asset for them irrespective of their position.In a nutshell, if you compare the PRINCE2® foundation exam costs, your salary should range from $33,000 to $ 93,000. Hence you can justify the costs of learning PRINCE2® with the staggering salary. Like we mentioned at the beginning of this article, PRINCE2® certified professionals are in high demand in the major companies throughout the world.You will be a sought-after person when your peers and organisation become aware of your skills in project management.ConclusionAll the information and discussion shared above is just the tip of the iceberg of information about PRINCE2®. There are more to follow in our subsequent articles having every useful information that will help you choose your career options, especially when you are standing at the crossroads of selecting the appropriate one for your future.We wish you all the best on your journey to pursuing excellence!

What is PRINCE2®

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What is PRINCE2®

PRINCE2® is one of the methodologies which will lend you a helping hand in managing your project in a successful manner.

In this article, we will discuss its various aspects, just enough to provide you with the perfect launching platform to comprehend everything about PRINCE2®, all the information that you will need before you dive in for more details later on.

Not only that, you will also get an overview of how you need to engage yourself with this project management method.

Let us begin with the basics.

What is PRINCE2®?

PRINCE2®, an acronym for PRojects IN Controlled Environments, in fact, is a process-based method to manage any project effectively.

One of the frequently-used project management methods, PRINCE2® is used by many people and organisations from various sectors and industries. It is practical, flexible, and innovative. Whatever project it may be, whether it is about constructing a flyover, developing software, or even putting forward an advertising campaign, the themes, processes, and principles of PRINCE2® will help you realise all of them. This method belongs to the public domain, and provides a generic but the best guidance to managing any project.

Key Features of PRINCE2®:Key Features of PRINCE2

  • Focus on business justification
  • Defined organisation structure for the project management team
  • Product-based planning approach
  • Emphasis on dividing the project into manageable and controllable stages
  • Flexibility that can be applied at a level appropriate to the project.

History of PRINCE2®

PRINCE2® originated from PROMPT II (Project Resource Organisation Management Planning Techniques).

PRINCE was originally based on PROMPT, a project management method created by Simpact Systems Ltd in 1975, and adopted by CCTA in 1979 as the standard to be used for all Government information system projects.

In the year 1989, a version of PROMPT II was adopted as a UK Government standard for information systems (IT) project management by CCTA, Central Computer and Telecommunications Agency. In June 2010, the Office of Government Commerce Best Practice Management functions moved into the Cabinet Office.

However, it was renamed in a Civil Service competition to ‘PRojects IN Controlled Environments’. In a short span of time, PRINCE was applied even outside the IT environment, both in the UK Government and private sectors.

On PRINCE being launched in the year 1989, it effectively superseded PROMPT within Government projects. PRINCE remains in the public domain and the crown holds its copyright. PRINCE2® was published in 1996, having been contributed to by an association of some 150 European organisations.

PRINCE2® was released in the year 1996 as a common project management method.

Since then, it has gained increasing popularity, and now it is a de-facto standard for project management in many UK Government departments and across the United Nations systems as well.

After being revised again in the year 2009, the acronym was changed, this time to ‘PRojects IN a Controlled Environment’.

Ever since PRINCE2® was launched (1996), it has undergone two significant revisions:

  • ‘PRINCE2®:2009 Refresh’ in the year 2009
  • ‘PRINCE2® 2017’ Update in 2017

Which are the most popular regions for PRINCE2®?

As you came to know in the section above, PRINCE2® was born in the UK, and later on, this methodology took many regions of the world by storm. Its simple, yet effective themes, processes, and terminologies have brought a new perspective in the world of project management.

Till date, the UK has more PRINCE2® certificate holders than any other country across the globe. But now, there are more certificate holders across the rest of the world.

According to the Axelos 2016 report:

  • 88% of PRINCE2® certificate holders said it had been valuable to their career
  • 85% of practitioners stated that PRINCE2® certification has been useful current role
  • Over 80% of professionals surveyed see the value of working in an agile way.

Meanwhile, along with the massive global presence and momentum of PRINCE2®, there are already many established countries that adopted PRINCE2® .

Here are the most traditionally popular PRINCE2® regions:

  • UK
  • The Netherlands
  • Australia
  • Eastern and Western Europe – Poland, Denmark, Germany

Most popular regions for prince 2

It has been some years now, and PRINCE2® has really strengthened its grip in the economic market of superpowers like India and China. In the year, 2012, PRINCE2® examinations in India increased by 168%. A year later, the increase in the rate of examination in China overtook India. These figures look perfect for the project managers. China and India both are ambitious nations and it makes complete sense about why they have adopted PRINCE2® methodology for their projects.

More current figures from AXELOS, represent the regions going through the biggest increase in PRINCE2® examinations with every passing year:

Why do I need to implement PRINCE2® in my organisation?

Reasons to implement PRINCE2

Well, as stated earlier, PRINCE2® is a high standard method for project management. But what makes it stand out from the other methodologies?

Simply because it is adaptable and flexible. Let us elaborate on this.

The reason why PRINCE2® is adaptable and flexible is that it represents years of best practice in project management. It focuses on a diverse variety of disciplines and activities, ones which are important while driving a project, and emphasises on the direction the project needs to head towards, that is, ‘Why’, ‘When’, and for ‘Who to’.

What it has to provide your organisation with are stated below-

  • It provides a common and seamless approach.
  • Helps in keeping a project organised throughout the process.
  • Repeated and timely reviews of progress are made against plan and Business case flexible decision points
  • Ensures that the project continues to meet the business requirements.
  • Provides flexible decision points.
  • Aids to management control of any deviations from the plan if there are any
  • The involvement of management and stakeholders at the right time and place during the project.
  • Helps in maintaining good communication channels between the project, project management, and the rest of the organisation.
  • Provides a method of capturing and sharing lessons learnt.
  • Secures a pathway to increasing the project management skills and competences of the organisation's staff at all levels.

All right, but why use a project management methodology?

It has been known from various surveys that the project managers of high-performing projects are most likely to have been PRINCE2® certified. It enables them to manage the project, take risks, and have control over the use of resources.

Since PRINCE2® and its methods are widely renowned and understood, it provides a common language for all the members in a project.

It represents years of project management best practice that provides information about a lot of ‘Dos’ and ‘Don’ts’ to the participants in a project.

With PRINCE2®, it will become easy for you to maintain a flexible and improved communication system throughout the project by employing Agile methods.

Tell me about the training and certifications

PRINCE2® certification is awarded by AXELOS, and in order to get the certification, the user needs to take part in a training course with an Accredited Training Organisation, after which the user needs to sit for an examination. There are three ways to undertake the course: Virtual, Online, and Classroom. Trainers must be re-accredited once in every 3 years and undergo a surveillance check once every year.

However, PRINCE2® examinations are either undergone:

  • As a part of a PRINCE2® accredited training course through your PRINCE2® training provider
  • Online
  • At a public PRINCE2® examination centre.

Whichever option you select, the PRINCE2® examinations you appear for will have the same style and structure.

There are four levels of certification for PRINCE2®:

PRINCE2 Certification Levels

1. PRINCE2® 2017 Foundation: 

This level of certification confirms that the holder has adequate knowledge and understanding of the method of PRINCE2® and is qualified to work in a project management team using the very method.

If you opt for this, then you must be able to:

  • Describe the motive and major content of all roles, the seven principles, the seven themes, and the seven processes.
  • State which management products considered as input or output by using the seven processes.
  • State the main purpose and key contents of the major management products.
  • State the relationships between processes, deliverables, roles, and the management dimensions of a project.

2. PRINCE2® 2017 Practitioner: 

This level of certification confirms that the holder has developed an adequate understanding of the way the concepts of PRINCE2® can be applied in a certain given scenario and will be able to apply the same in a real project scenario under proper guidance. However, qualified PRINCE2® Practitioners who pursue the APMP qualification of the Association for Project Management (APM), are not eligible to attend certain topics of the syllabus, ones that are covered in PRINCE2® Practitioner qualification.

         If you go for this, then you must be able to:

  • Produce detailed explanations of all principles, themes, and processes and worked examples of all PRINCE2® products as they might be applied to address the particular circumstances of a given project scenario.
  • Show that you comprehend the relationships between principles, themes, and processes and PRINCE2® products and can apply this understanding.
  • Demonstrate that you understand the reasons behind the principles, themes, and processes of PRINCE2® and that you understand the principles underpinning these elements.
  • Demonstrate your ability to tune PRINCE2® to different project circumstances.

The examinees are strongly advised to read the book and review the test exams time and time again.

3. PRINCE2® Agile Foundation:

This level of certification was released in June 2018 and establishes the fact that the holder has sufficient knowledge and understanding of PRINCE2® and the Agile way of working and is able to work in a project management team by combining the concepts of both.

4. PRINCE2® Agile Practitioner: 

This level of certification identifies the holder as being able to implement the principles of PRINCE2® in project management and apply the concepts of Agile, such as Scrum and Kanban.

So, in a brief, to get PRINCE2® Agile Foundation or Agile Practitioner certification, you need to:

  • Show that you understand the basic concepts of the common agile ways of working
  • Show that you understand the purpose and context for combining PRINCE2® and the agile way of working
  • Demonstrate your ability to fix and flex the six aspects of a project in an agile context
  • Demonstrate the ability to tailor the PRINCE2® principles, themes, processes and management products to a project in an agile context.

You can visit our link to know more about PRINCE2® Foundation and Practitioner Certification Training

What is the process of Examination?

Although you were informed about the four levels of certification in the previous section, the examination format varies accordingly.

We will provide you with a brief insight on each format and the prerequisites so that you get a general idea about the same before selecting a course with us.

So, here are the four examination formats.

The PRINCE2® Foundation Examination format:

PRINCE2® Foundation Examination format

  • The duration of examination is 60 minutes.
  • There will be a total of 60 questions.
  • It will be a closed-book examination.
  • You will need to have at least 33 out of 60 questions correct, that is, a pass mark of 55%.

Prerequisites: 

There are no specific pre-conditions for the Foundation level certification.

  • You may study this on your own or as take it as a prerequisite to the PRINCE2® Practitioner course.
  • However, with respect to the PRINCE2® Certification Requirements, while it is not mandatory, having a basic knowledge of managing projects is always preferred.

The PRINCE2® Practitioner Examination format:

  • The duration of examination is 60 minutes.
  • There will be a total of 68 questions
  • You will need to have at least 38 out of 68 questions correct, that is, a pass mark of 55%.
  • It will be an open-book exam (official PRINCE2® manual only).

However, if you take the examination in your native language, then the duration of the same will be for 150 minutes. If not, it will be for 188 minutes. The distribution of the questions will be as follows:

  • 35 questions from the theme
  • 25 questions from the processes
  • And 8 questions from the principles.

Prerequisites:

In order to appear for the PRINCE2® Practitioner examination, you must be able to provide a proof of passing one of the following exams:

  • PRINCE2® Foundation
  • 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).

The PRINCE2® Agile Examination format:

  • It will be an objective test.
  • There will be 50 questions, each worth one mark.
  • You will need a score at least 30 marks to pass (out of 50 available), that is, 60%.
  • The test duration will be of two-and-a-half hours (150 minutes), no additional reading time.
  • It will be an open-book exam (official PRINCE2® Agile guide only)

What are the Prerequisites?

In order to sit for the PRINCE2® Agile examination, you must have a Registered PRINCE2® Practitioner status (i.e. hold a current PRINCE2® Practitioner certificate).

But why should I get PRINCE2® Certified?

Why should i get prince 2 certified?

There are many reasons why it is recommended to study PRINCE2®.

The most notable of them are:

  • It is the industry standard

If you are looking to work in project management, then your search ends at PRINCE2®.

PRINCE2® is a qualification that is recognised worldwide, one that is approved by the UK government as a best practice for project management. It has turned into an important benchmark of capability within the industry, and is considered an important requirement for those looking to further their project management careers.

  • It helps in gaining First Class Project Management Skills

PRINCE2® offers the skills that will make you confident about managing projects with success. The key element it follows is using a common language, systems, and procedures. What results is you being able to govern resources and risks with fewer mistakes, but the incidents will teach you and your team how to learn from the same mistakes.

Irrespective of the type of project, organisation, or industry one is involved with, PRINCE2® is adaptable enough to be seamlessly adjusted, not to forget the immense amount of time, money, and effort it saves.

  • The time taken for you to qualify will not take long

It will not take you long to complete all the certifications of PRINCE2®. Their duration is from 20 to 50 hours for the entry-level PRINCE2® Foundation level, two to three days for the PRINCE2® Practitioner and Professional levels.

The first level can be studied online. You can take your own time in scheduling your studies according to the time table. However, if you desire to finish your qualifications at a quicker pace, then there are a host of bundled packages having different classifications together.

  • It assists you in shaping your career by getting better jobs

Having a PRINCE2® certification adds credibility to your CV. It is a renowned international product which has the quality method for managing any project. According to Arras People's 2011 survey, half of the people who opted for the same have certifications in PRINCE2®. This clearly explains why so many companies are hiring candidates who are certified in PRINCE2®.

The 2016 AXELOS PRINCE2® survey shows that a majority of the surveyees, particularly from Germany and the Netherlands, felt that PRINCE2® certification is essential for a better career growth. The ones to opine otherwise stood at less than 10% of the total votes.

A better future is accomplished by continuously being equipped with the best of the upgrades available and a PRINCE2® certification is one of those top-tier choices.

  • It will qualify you to earn more money

Many companies worldwide offer an average annual salary of around $42,380 to PRINCE2® Foundation certified candidates. Potential candidates could earn up to $66,206 after they complete their PRINCE2® Practitioner certification,

So, being PRINCE2® certified helps you secure your financial benefits and career on a long-term basis.

  • You will be open to more opportunities globally

It is a fact. PRINCE2® qualifications are recognised and acclaimed globally. So, there is no doubt that it creates more opportunities for you globally.

Did you ever dream of working abroad? If yes, then project management could be the ideal choice.

What is the cost of the components of the certification?

components involved in prince 2 certification cost

Whether it is PRINCE2® Foundation or PRINCE2® Practitionerthe total cost is split into various segments and varies from country to country and from one accredited training organisation to another. All the fees mentioned here have approximate values and may be subjected to change depending on the region.

The components involved in the PRINCE2® certification cost are:

  • PRINCE2® Training
  • PRINCE2® exam
  • Cost of Sample Examination papers
  • Study Guide
  • Membership fee.

Well, opting for a PRINCE2® course online means that the cost of your training component in PRINCE2® could be as low as under $300, considering that you go for a PRINCE2® Foundation & Practitioner Certification examinations bundle. Choosing this combination will give you access to the entire course lasting for a year. Some training providers offer such courses for just $60, provided you want to complete the same within a month. Generally, the Foundation examination could cost around $900 but you automatically would end up paying much less on the PRINCE2® certification if you get one of those bundled courses including both PRINCE2® Foundation & Practitioner Certification examinations.

However, in case you think about attending a classroom training, then you may have to pay around $1000 for your PRINCE2® certification. A few of these PRINCE2® courses cover the cost of the PRINCE2® Foundation & Practitioner Certification examinations. So keep the cost of the PRINCE2® certification in mind if you are planning to go for PRINCE2® training. Moreover, take time to pay attention to the extent of course coverage, flexibility and the bundled services that are provided. This will help you cut down on the cost of PRINCE2® certification.

PRINCE2® course online

If you go for a PRINCE2® course online, you will save a lot of money on the PRINCE2® examination cost. PRINCE2® course online for the Foundation level may cost you €450 or more, but the classroom session may cost €1000 or more. Speaking of PRINCE2® examination cost, you will be able to save quite a lot of money by going for the online course.

And what about the future of PRINCE2® professionals?

Future of prince 2 professionals

To determine if the PRINCE2® certifications are worth going for, you will need to have a look at the average salaries of the jobs targeted at PRINCE2® certified Project Managers.

  • The average salary of PRINCE2® certified employees is around $85,000 to $90,000.        
  • A number of studies and surveys demonstrate the fact that PRINCE2® certified professionals earn more than their non-certified peers.
  • You may start with the job role of a coordinator or an administrator, but you can rise up to a director’s position with the aid of a PRINCE2® certification.
  • With the help of a PRINCE2® certification, you also become skilled in handling project delivery successfully, thus becoming an invaluable asset to your company.
  • A PRINCE2® certification imparts knowledge on how to manage your resources on the project effectively. Moreover, you will be able to effectively take care of risks and hence aid businesses more.
  • Axelos survey revealed that individuals feel that PRINCE2® Foundation & Practitioner Certification is an invaluable asset for them irrespective of their position.

In a nutshell, if you compare the PRINCE2® foundation exam costs, your salary should range from $33,000 to $ 93,000. Hence you can justify the costs of learning PRINCE2® with the staggering salary. Like we mentioned at the beginning of this article, PRINCE2® certified professionals are in high demand in the major companies throughout the world.

You will be a sought-after person when your peers and organisation become aware of your skills in project management.

Conclusion

All the information and discussion shared above is just the tip of the iceberg of information about PRINCE2®. There are more to follow in our subsequent articles having every useful information that will help you choose your career options, especially when you are standing at the crossroads of selecting the appropriate one for your future.

We wish you all the best on your journey to pursuing excellence!

KnowledgeHut

KnowledgeHut

Author

KnowledgeHut is an outcome-focused global ed-tech company. We help organizations and professionals unlock excellence through skills development. We offer training solutions under the people and process, data science, full-stack development, cybersecurity, future technologies and digital transformation verticals.
Website : https://www.knowledgehut.com

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3 comments

sai 08 Jul 2019

I got to know some idea about PRINCE 2 Thanks Knowledgehut

keerthi guptha 06 Aug 2019

Good article, It helps a lot who is new with prince2. Clearly explained the certification process. such a great experience of prince2. Thanks for sharing this much information.

kalpana 06 Aug 2019

Informative article thanks for providing such useful article loved it.

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This way, the uncertainty and opportunity throughout the project life cycle can be managed.Task 11: Present the project management plan to the relevant stakeholders in accordance with the applicable policies and procedures, so the approval to proceed with the project execution can be attained.Task 12: Conduct kick-off meeting, communicate the start of the project, and other relevant information to engage stakeholders and gain commitment.Task 13: Develop a stakeholder management plan after analyzing the needs and potential impact so that the stakeholders’ expectations can be managed and can be engaged in project decisions.Knowledge and SkillsChange management planningCommunications planningEstimation tools and techniquesLean and efficiency principlesQuality management planningRegulatory and environmental impacts assessment planningScope deconstruction (e.g., WBS, Scope backlog) tools and techniquesStakeholder management planningWorkflow diagramming techniquesCost management planning, including project budgeting tools and techniquesContract types and selection criteriaHuman resource planningProcurement planningRequirements gathering techniquesRisk management planningScope management planningTime management planning, including scheduling tools and techniquesDOMAIN III, Executing - 31%Task 1: Follow the human resource and procurement management plans by obtaining and managing the project resources so that the project requirements can be met.Task 2: Lean and develop the project team to manage the task execution based on the project management plan so that the project deliverables can be achieved.Task 3: Use appropriate tools and techniques to implement a quality management plan. This is done to ensure that the work is being performed as per the required quality standards.Task 4: Follow the change management plan to implement the approved changes and corrective actions so that the project requirements can be met.Task 5: Follow the risk management plan to implement the approved actions so that the impact of risks can be minimized while at the same time, the advantage of opportunities on the project can be attained. ‘Task 6: Follow the communication plan and manage the flow of information so that the stakeholders are kept engaged and informed.Task 7: Follow the stakeholder management plan to maintain the stakeholder relationship so that continued support can be received and expectations can be managed.Knowledge and SkillsContinuous improvement processesElements of a statement of workProject budgeting tools and techniquesVendor management techniquesContract management techniquesInterdependencies among project elementsQuality standard toolsDomain IV, Monitoring and Controlling - 25%Task 1: Use appropriate tools and techniques to measure the project performance so that any variance and corrective actions can be identified and quantified.Task 2: Follow the change in the management plan and manage changes to the project so that the project goal remains aligned with the business needs.Task 3: Use appropriate tools and techniques to meet project requirements and business needs in order to verify that the project deliverables conform to the quality standards which has been established in the quality management plan.Task 4: Monitor and assess the risk to determine if exposure has changed and evaluated the effectiveness of response strategies so that the impact of risks and opportunities on the project can be managed.Task 5: Review and update the issue log as well as determine corrective measures by using appropriate tools and techniques so that the impact on the project can be minimized.Task 6: Use lessons learned management techniques to capture, analyze, and manage the lessons learned so that continuous improvement can be attained.Task 7: According to the procurement plan, monitor the procurement activities so that the compliance with project activities can be verified.Knowledge and SkillsPerformance measurement and tracking techniquesProject control limitsProject monitoring tools and techniquesQuality measurement toolsRisk response techniquesProcess analysis techniquesProject finance principlesProject quality best practices and standardsRisk identification and analysis techniquesQuality validation and verification techniquesDomain V, Closing - 7%Task I: Collect the final acceptance of the project deliverables from the relevant stakeholders as confirmation that the project scope and deliverables were achieved.Task II: According to the project plan, transfer the ownership of deliverables to the assigned stakeholders so that the project closure can be facilitated.Task III: Obtain financial, legal and administrative closure via the accepted practices and policies so that a formal closure of the project can be attained and a transfer of liability can be ensured.Task IV: According to the communications management plan, prepare and share the final project report so that the project performance can be documented and conveyed as well as project evaluation can be assisted.Task V: Collect and combine the lessons that were learned throughout the project and conduct a project review so that the organization’s knowledge base can be updated.Task VI: Archive the materials and project documents by making use of the generally accepted practices so that statutory requirements can be complied with and for potential use in future projects and audits.Task VII: Use appropriate tools and techniques to get feedback from relevant stakeholders so that their satisfaction can be evaluated.Knowledge and SkillsArchiving practices and statutesContract closure requirementsFeedback techniquesProject review techniquesActive listeningBenefits realizationBusiness acumenCoaching, mentoring, training, and motivational techniquesConfiguration managementCustomer satisfaction metricsDecision makingDiversity and cultural sensitivityExpert judgment techniqueGenerational sensitivity and diversityInterpersonal skillsLeadership tools, techniques, and skillsMeeting management techniquesOrganizational and operational awarenessPresentation tools and techniquesProblem-solving tools and techniquesQuality assurance and control techniquesRisk assessment techniquesStakeholder management techniquesVirtual/remote team managementCompliance (statute/organization)Close-out proceduresPerformance measurement techniquesTransition planning techniqueApplicable laws and regulationsBrainstorming techniquesChange management techniquesCommunication channels, tools, techniques, and methodsConflict resolutionData gathering techniquesDelegation techniquesEmotional intelligenceFacilitationInformation management tools, techniques, and methodsKnowledge managementLessons learned management techniquesNegotiating and influencing techniques and skillsPeer-review processesPrioritization/time managementProject finance principlesRelationship managementSituational awarenessTeam-building techniquesTips for passing and preparing for PMP® ExamPMP® exam requires a lot of dedication and efforts in order to clear it at one go. 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So, you should make sure that you have plenty of time to prepare for your PMP® exam. You can adopt the following best practices to prepare for your PMP® certification exam:1.Review the PMP® Examination Content OutlinePMP® Examination content outline is an important document which will help you to do well with your PMP® exam. You should go through this document which is published by PMI® to find the following information:Break up of questions as per the Process areasList of skills, tasks, and knowledge which are required as per PMI’s Role Delineation study.Going through this credible document will give you a high-level idea of what all get covered in the PMP® exam. You should go through this once you feel that you have attained a reasonable command on the content covered by PMBOK® Guide or any other study guide which you are referring in order to ensure that you avoid any unwanted surprises while appearing for your PMP® certification exam.2.Take up a formal study course offered by any accredited Registered Education Provider (R.E.P)Project Management Institute (PMI) has approved a few organisations to offer project management training in order to establish a global network of quality education providers to help all the Project Management Professional (PMP®) credential aspirants and credential holders.Enrolling yourself in a PMP® training course is one of the best ways to prepare for your certification exam. The reasons are as follows:These courses provide tailor-made PMP study materials and best practices for the PMP exam.They give you a quick start in getting a grasp of various project management concepts, formulae, terminology, and other key inputs which help you to prepare for your PMP exam.You can also get the 35 contact hours certificate by taking up these training courses which is necessary for you to be eligible for the PMP® exam.3.Come up with a study planYou should start treating your PMP® certification as a project and prepare a plan which covers all the activities that would help you to get PMP® certified. But the core element in this plan is to have a well-defined study plan. You should break your study sessions into smaller chunks and prepare a study plan which includes timelines to read PMBOK®, practice mock tests, study various materials etc.4.Review the latest edition of PMBOK® Guide and self-study books published by other reputable training organisationsNo matter whatever reference material you want to study in order to prepare for your PMP® certification exam, the PMPBOK® Guide is the recommended study material for all the PMP® aspirants. The page number 61 of the guide contains a table that shows the relation between 13 Knowledge Areas and 5 Process Groups with 47 processes. It further explains how these are applicable to project management.As a candidate, you should be thorough with this table and draw this table on a piece of paper in 5 minutes while appearing for your exam. The same can be used as a reference in answering the 200 exam questions. Other than the PMBOK® Guide, you can also review other study guides published by R.E.P.s and other reputable training organisations.5.Get ready for your exam by practicing Mock TestsDo you want to check the status of your PMP® certification exam preparation? You can do that by taking PMP mock tests. These can help you to map the gaps in your project management knowledge. You can take a test and review the results to find the areas that you need to work on.Focusing on answering the questions by sitting at a place for four hours is not a piece of cake. Taking full-length mock tests helps you to prepare for such a physically daunting and mentally straining process. However, it is a very important drill for your PMP® certification exam. So, it’s better to take up these mock tests and prepare well for your big day.6.Study groupStudying in a group can prove to be quite helpful while you are preparing for your PMP® certification exam. Catch up with the like-minded PMP® aspirants to know about new tactics and get benefited in other ways by being a part of the study group. Few of the benefits are as follows:Studying in a group is the best escape from the monotony of studying alone.You can surely overcome the areas which you are struggling with.Helping others will also boost your confidence.Sharing project management experiences with others help you to crack the scenario based questions which is the trickiest part of the PMP® certification exam.It further helps you to stay on course and helps you to motivate each other in the group.The biggest advantage of studying in a group is that it forces you to study on a regular basis and makes the preparation activity a part of your routine.Tips and tricks to prepare for your PMP® examYou need to study numerous materials in order to crack your PMP® certification exam. But do you have access to the right books and materials? Every person has his or her own way of learning. The following ways will surely help you to become efficient in your study and get equipped with all the knowledge that you need to crack your PMP® exam:If you have access to the workshops conducted by PMI then that would be a big benefit for you. This will also help you to receive the bundle of 35 credit hours which are necessary to qualify for your PMP® application procedure. Attending a PMP® boot camp gives you access to numerous benefits. Few of them are:1.Review everything which you need to cover on the examEverybody is oblivious about what he or she is going to encounter during the PMP® certification exam. Whatever you will find in the exam is sure to be geared from the PMBOK®. This means you should be thorough with the PMBOK® guidelines to get PMP® certified at one go. But the PMBOK® consists of only 75% of what you will see in the exam. What about the rest? You need to seek for a PMP instructor’s guidance in order to fill the gap in learning to qualify your PMP® certification exam.2.Review how to study for the examAs discussed, the PMBOK® guide is a great resource for your PMP® certification exam. At times, even if the questions are lengthy with a situational circumstance, you need to bring it down to a rule that needs to be comprehended. Further, there are certain focus areas on which you need to invest more of your study time than others. It is always better to seek guidance from a professional rather than guessing what you should study.3.Informal questionsIf you lack the idea of how to implement cost, schedule, or risk structure, then it’s a great opportunity for you to understand it. You should learn to shed light on practical application using fundamental examples.You should change your study methods to prepare well for a continuously evolving exam process like the Project Management Professional (PMP)® exam. These days, this exam is based on PMBOK® Guide 6th edition and is a lot harder than it was in the past. The 4 partially correct choices which are provided for all the questions make it even confusing and raise the level of complication for the candidate.The following tricks are surely going to help you in shaping up your exam:Get aligned with the exam dynamics by spending 30 minutes every day on a free exam simulator.Follow the rule of 85%. Keep practicing mock exams until you score at least 85% in all the model exams. This indicates that you are ready to face the PMP® certification exam.Another important trick is to understand the ‘ITTO TRICK Sheet of 49 processes’ which you can find in the PMBOK® guide. This will really prove helpful to you in mapping all the processes inputs, outputs, tools, and techniques.In order to rightly utilize the 12 minutes after the exam, you need to read and memorize the Formula Trick Sheet. You need to print and paste the same on your desk in order to practice it every day because writing this after 4 hours exam will surely help you to track the questions and save significant time.You need to read and memorize the PMPBOK® 6th Edition 49 Process Chart. Print and paste the same on your desk and practice it every day until you can draw the chart within 8 minutes.To wrap it upWhen you begin with your preparation for PMP® certification, you should remember that attaining the PMP® certification shows your commitment to the profession of project management and demonstrates your credibility to earn more as well as raising the value of your resume above the non-certified professionals. Keeping these points in mind will surely help you to avoid getting discouraged during your certification process.You can also learn more about PMP® certification hereThis blog throws light on a few best practices along with some tips and tricks to smoothly proceed with your PMP® journey. It is important for you to set a standard time for your studies other than having a thorough understanding of the PMBOK® guide. So, start clearing your calendar to fit in your daily study time as PMP® needs a lot of thorough studies and is not an easy path to success.
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A Comprehensive Guide to PMP® Exam Preparation

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