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Comparing PMP and PRINCE2 Certifications | Invensis Learning
- 1. Comparing Project ManagementProfessional (PMP)® & Projects in Controlled Environments (PRINCE2)® certifications with Muralidhar Gaddam Sep 11th – 2020 | 09:30 PM IST www.invensislearning.com Global Learning Services PMP & CAPM are registered marks of Project Management Institute, Inc. PRINCE2 is a registered trademark of AXELOS Limited
- 2. 2 About Invensis Learning InvensisLearning is a pioneer in providing globally-recognized certification training courses for individuals and enterprises worldwide. Our training methodology coupled with high-quality courseware has enabled organizations to achieve high-impact learning with increased knowledge, competence, and performance. We offer courses in various categories such as IT Service Management, Project Management, IT Security and Governance, Quality Management, Agile Project Management, DevOps, and Cloud courses. Invensis Learning certification training programs adhere to global standards such as PMI, IASSC, TUV SUD, AXELOS, ISACA, DevOps Institute, EXIN, and PEOPLECERT.
- 3. 3 Housekeeping The webinarwill last up to 60 minutes You can ask questions throughout the Webinar, using the Chat panel on the right hand side of the slide. These will be answered during the Q&A session towards the end. Post webinar, the recording will be sent to your email
- 4. 4 Presenter Profile Muralidhar Gaddam PMP®,PRINCE2® Practitioner, MSP® Practitioner, DevOps Certified, VeriSM™ Professional, ITIL®4 Foundation, ITIL®4 Strategist DPI, ITIL®4 Specialist CDS, ITIL®4 Specialist HVIT Muralidhar Gaddam is a trainer in project, program and service management, with over 23 years of experience in operational and technical leadership in IT infrastructure and systems software. He has handled global offshore teams across major companies such as IBM, UBS, and Cognizant and has achieved many excellence awards during his tenure. Now as a corporate trainer, he trains and guides professionals for many globally-recognized certification training programs such as PMP, PRINCE2, ITIL4, and many more.
- 5. 5 Overview ofproject management certifications About PMP and PRINCE2? Job growth statistics in project management from PMI PPM benchmark report summary from AXELOS Exam references for PMP and PRINCE2 Comparing PMP and PRINCE2 exam pre-requisites Comparing the nature of PMP and PRINCE2 exams Comparing the course content for PMP and PRINCE2 Conclusion and next steps to decide the relevant certification(s) Topics Covered
- 6. 6 Project ManagementProfessional (PMP®) from Project Management Institute USA https://www.pmi.org Projects IN Controlled Environments (PRINCE2®) from AXELOS UK https://www..axelos.com Certifications from IPMA (International Project Management Association, The Netherlands) https://www.ipma.world Certifications from APM (Association of Project Management, UK) https://www.apm.org.uk Certifications from Guild of Project Controls, a community within Planning Planet, UK www.planningplanet.com ...and more Overview of project management certifications
- 7. 7 Mentioned on PMIsPMP certification webpage: https://www.pmi.org/certifications/types/project-management-pmp “Wherever you are in your career, the globally recognized Project Management Professional (PMP)® certification tells employers, peers, and the world you know what you’re doing in project management.” CIO magazine ranked the PMP as the top project management certification because it proves you have the specific skills and experience employers seek About PMP®
- 8. 8 About PRINCE2 “PRINCE2 (PRojectsIN Controlled Environments) is one of the most widely used methods for managing projects in the world. It is a structured project management method based on experience drawn from thousands of projects and from the contributions of countless project sponsors, project managers, project teams, academics, trainers and consultants.” - Managing Successful Projects with PRINCE2 6th Edition (earlier known as 2017), Published by TSO UK, Copyright AXELOS Limited
- 9. 9 Job growth statisticsin project management from PMI PMIs 2017 job growth report Note that COVID-19 has impacted the economy, to be considered as well.
- 10. 10 PPM benchmark reportsummary from AXELOS AXELOS PPM benchmark report - PPM benchmark report from AXELOS Ltd., July 2019 ITSM – IT Service Management PPM – program and portfolio management
- 11. 11 Exam references forPMP A Guide to The Project Management Body of Knowledge(PMBOK® Guide) • The PMBOK® Guide identifies a subset of the project management body of knowledge (PMBOK) that is generally recognized as a best practice. • Study reference for the PMP exam is the current edition of the PMBOK® Guide as well as other current titles on project management. • The exam syllabus is the PMP Examination Content Outline Important note - From 2nd Jan 2020, the exam syllabus will also significantly cover agile and hybrid projects, not just traditional ones. And the next edition (7th) of the PMBOK Guide is expected to be published sometime in 4Q2020.For the revised exam, PMIs Agile Practice Guide is also referenced, apart from other texts.
- 12. 12 Exam references forPMP Project management methodology “This PMBOK Guide is different from a methodology. A methodology is a system of practices, techniques, procedures and rules used by those who work in a discipline. The PMBOK Guide is a foundation upon which organizations can build methodologies, policies, rules, tools and techniques, and life cycle phases needed to practice project management.” - Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, Project Management Institute Inc.,2017
- 13. 13 Exam references forPRINCE2 Managing Successful Projects with PRINCE2 6th Edition (earlier known as 2017), Published by TSO UK, Copyright AXELOS Limited https://www.tsoshop.co.uk/Business-and-Management/AXELOS-Global-Best- Practice/PRINCE2-Project-Management/
- 14. 14 Comparing PMP andPRINCE2 exam pre-requisites PMP Requires 3 years of project management experience and 35 hours of compulsory training (a training certificate is required, e-learning is fine). The certificate is valid for 3 years. Note - The CAPM® certification is an alternative in case the required experience is lacking; either training or experience will suffice (Certified Associate in Project Management) PRINCE2 • PRINCE2 Foundation has no pre- requisites. The certificate does not expire. • PRINCE2 Practitioner requires PRINCE2 Foundation or an equivalent certification. The certificate is valid for 3 years.
- 15. 15 Comparing the natureof PMP and PRINCE2 exams PMP • The PMP exam runs for 4 hours with 200 questions (a 10 min break after 2 hours) • Most questions are situation based and psychometric testing is used • All questions are multiple choice • The exam has to be sat at an exam centre and is online • It is a closed book exam • Due to COVID-19, presently the exam is allowed to be sat from home with online proctoring PRINCE2 • The PRINCE2 Foundation runs for 1 hour with 60 questions, is multiple choice based, wherein recall of concepts, and understanding are tested. • PRINCE2 Practitioner runs for 2.5 hours with 68 questions (or 46 as some questions are clubbed), based on a scenario • It is an open book exam – only the official hardcopy PRINCE2 manual is allowed • Exams may be sat at the training centre (online or paper based) or home (proctored) • Presently due to COVID-19, use of a printed PDF or softcopy on another system is allowed
- 16. 16 Comparing the coursecontent for PMP and PRINCE2 Covered in PRINCE2 Covered in PMP (not covered in PRINCE2) • Principles of project management • The 7 themes • The 10 knowledge areas • High focus on the business case • Project roles & responsibilities, & the project management team structure (organization) • Skills and competencies of the PM • People management • Stakeholder identification & engagement techniques • Product based plans • Task scheduling, scheduling techniques like CPM, resource optimization, schedule compression • Estimation techniques • Costing and budgeting techniques, contingency and management reserves • Requirements gathering techniques • Product solution techniques like product analysis
- 17. 17 Comparing the coursecontent for PMP and PRINCE2 Covered in PRINCE2 Covered in PMP (not covered in PRINCE2) • Quality planning (defining requirements) & quality control concepts • Quality control and assurance techniques • Risk management procedure – focus on risk response types • Techniques for risk identification & analysis apart from risk response types • Issue & change control procedure • Change management process • Progress monitoring and control using stage control, stage boundary management, progress reporting & exception management • Detailed communications aspects such as communication requirements analysis • Monitoring and controlling techniques (like earned value management, variance analysis, trend analysis, etc.) • How project moves in stages runs from start to finish, using a process flow • The 5 process groups • Procurement process
- 18. 18 Conclusion and nextsteps to decide the relevant certification(s) • PMP is based on a body of knowledge while PRINCE2 is a structured method • One reinforces the science while the other is a structured approach • Both complement each other. Deciding: • PRINCE2 Foundation or CAPM can be a good starting point • Note that PRINCE2 Foundation enables you to be an informed member of a PRINCE2 project rather than becoming a project manager • Whereas CAPM enables you to take on project management responsibilities or manage larger projects If you have experience, you may opt for PRINCE2 Practitioner or PMP, though experience is not mandated for PRINCE2 Practitioner OR • Get the best by doing both
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