PRINCE2 vs PMP: Comparing Project Management Methodologies

To successfully complete a project, every project manager must first select the methodology (s). that he intends to implement to achieve his goals. However, in the field of project management, two approaches are recognized: PRINCE2 and PMP. To help you identify the most appropriate methodology, we present each of these approaches, their advantages, but also their disadvantages. So you will be able to choose one or the other in an informed manner.

Presentation of PRINCE2 and PMP methodologies

First, let's take the time to briefly present the two methods of project management. This will allow you to better understand the context of their appearance and their specificities.

What is PRINCE2?

Let's start with the PRINCE2 method or PROjects IN Controlled Environments. Born in the 1980s in the United Kingdom, this approach was initially intended for IT projects of the government. It has evolved over time to become a project management method that is as flexible as it is essential.

To manage a project effectively, PRINCE2 is based on 7 fundamental principles:

• Justify the project on an ongoing basis: Every project should have a clear commercial rationale.
• Learning from experience: All lessons learned from experience should be integrated into planning and execution.
• Define roles and responsibilities: All the roles and responsibilities of stakeholders must be defined in advance and in a precise manner.
• Manage in stages: The project must be divided into different stages in order to ensure optimal monitoring of the progress of the project.
• Manage by exceptions: Each project manager maintains a certain amount of autonomy in order to maintain agility.
• Focus on products: The project team must make every effort to produce a high quality deliverable that meets the requirements of the specifications.
• Adapting to the environment: To manage your projects with PRINCE2, it is essential to adapt it to the size, risks and complexity of the project.

Let's add that a PRINCE2 project is structured around Four elements which must be perfectly integrated with each other. We call them The principles, The themes, processes and The environment.

What is the PMP method?

PMP stands for Project Management Professional. This expression actually refers to a certification, recognized worldwide, and awarded by the Project Management Institute (PMI). The latter was founded in 1969 in the United States and laid the foundations for the PMP certificate.

This certification has been built based on the PMBOK or Project Management Body of Knowledge. The latter includes:

• Process groups: Initiation, planning, execution, supervision and control and closure.
• Areas of knowledge: Management of integration, deadlines, costs, quality, quality, HR, HR, HR, communications, risks, procurement, stakeholders and integration.

Concretely, The PMP brings together best practices and standards. These can be used by any project manager who wants to ensure optimal project management.

PRINCE2 VS PMP: state of play

In order to determine which approach to use to manage a project, we suggest that you: compare PRINCE2 and PMP certification from different perspectives.

A different project management approach

First of all, these project management methodologies different in their distinct approaches.

PRINCE2 is based on processes and steps that are clearly defined beforehand. For this reason she is ideal for environments where rigor, precision and strict controls are required.

As mentioned earlier, PMP is based on a set of best practices described in the PMBOK. For this reason, the PMP is at favour an agile approach, based on cycles of iterations, where flexibility is sought.

The flexibility of both methods

Depending on the sectors of activity or the risk management related to the project, flexibility can be an element that is more or less crucial for the success of the project.

If you want to take full advantage of PRINCE2 when managing projects, you should use it when there is a need to implement a strict structure and efficient. Although there is little flexibility, it is however a good choice for new project managers who don't want to take risks.

For its part, the agility allowed by the PMP approach must be considered. in sectors where agile methods are legion. We are thinking in particular of software development in the IT sector. Continuous improvement during the various phases of the project is then a good way toobtain a final product that meets customer requirements.

The cost of PRINCE2 and PMP certifications

Some companies want project managers to pass certifications on different project management methods. This allows them to ensure that employees effectively master these approaches down to the smallest detail.

PRINCE2 certification is mainly popular in Anglo-Saxon countries. To get it, he is necessary to follow specific training including on the principles, themes and strict processes of methodology.

More widely recognized, because it is considered to be a standard, the PMP requires prior experience in project management. Its exam is demanding and requires an exhaustive mastery of PMP standards.

Advantages and limitations of each method

To help you better understand these two methods, it is necessary tostudy their strengths, but also their weaknesses.

Advantages and disadvantages of PRINCE2

The PRINCE2 approach is perfect for manage projects using a very structured framework. The planning and management of the schedule are rigorous and the various actors of the project have access to accurate data at any time.

However, the Understanding PRINCE2 is tricky and its deployment may require time for adaptation and training. However, training and certification actions have a real cost to be taken into consideration.

Advantages and disadvantages of PMP

The PMP method is more suitable for teams used to agile project management. Capable of adapting to a large number of business sectors, this flexible approach is ideal for adapting quickly to changes and improve the individual skills of employees.

However, the use of PMP requires a some experience in project management. Moreover, not providing a framework as detailed as the PRINCE2 method, the PMP can show your limits in the context of a project requiring sequential organization and detailed.

How do I choose between PRINCE2 and PMP?

Depending on the type of project, the sector of activity or even the specificities of the project, the methodology to be considered can vary greatly.

However, we can unambiguously state that PRINCE2 is generally intended for complex and large-scale projects. This is the reason why this method is interesting in construction or engineering sectors. Predictability and risk control are therefore essential elements.

If you work in technology or software development sectors, we recommend that you choose PMP. More flexible and adaptable, this approach will better meet your needs.