Both PMP(r), and PRINCE2 are highly respected credentials. Many project managers want information on the differences. Others want to know which one is worthwhile. While they are different, PMP and PRINCE2 actually have many similarities. Both are built on best practices and geared towards completing projects correctly. They use different methods, which is what explains their differences.
Standard vs. Methodology
PMP is taught using Project Management Body of Knowledge Guide (PMBOK[r] Guide). The PMBOK (r) Guide is a guide, not a methodology. It is a set of guidelines that are best for your business. PMP is a certification that you are familiar with these best practices and can use PMBOK(r). Guide.PRINCE2 refers to a methodology. It is a set or processes that is designed to achieve results. PRINCE2’s process set is about settling on the project’s objectives early and breaking it down into manageable stages. A standard gives you the rules of managing projects. But a methodology shows how to do it.
Conflict
PMP and PRINCE2 were created by different organizations in different countries. There is some overlap, but they are not 100% coherent. PMP’s “project charter” (also known as the project brief) is equivalent to PRINCE2’s more detailed “Project Ignitiation Documentation” (or the more detailed “Project Charter” in PRINCE2). The principle is the same but the terminology is slightly different.
What PRINCE2 calls “process” is similar to what PMP calls “process groups”. Despite the differences in their names, they are very similar. PMP uses the term “process” to decompose process groups. It is necessary to be proficient in both PMP and PRINCE2 by translating between them.
Resolution
Although it will require some translation, there is no reason to stop you from using both the PMP and PRINCE2 certifications. PRINCE2 is a way to put the PMBOK(r), Guide into practice in many ways. Instead of thinking about PMP and PRINCE2, think of them as speaking different dialects. There are many reasons project managers would want to be proficient both languages.
PRINCE2 is a method that PMP-certified project managers can use. It allows you to break down projects into stages. This is great if you work in a controlled environment.
A PMP certification is an important step for PRINCE2 practitioners. It shows that you are capable of managing a wider variety of projects and that your expertise is well-known. PRINCE2 Foundation can be a great entry point to project management, while PMP is an ideal career goal.
