Before I proceed with my answer, I must state that PMP (Project Management Professional) and PRINCE 2 (Projects IN Controlled Environments) are the most reputed project management certifications in the world. I think it’s important that you should know this.
For the purpose of this question, we’ll put out some basic information about both certifications, and then we will compare them and finally draw a conclusion on both.
PMP (Project Management Professional)
PMP is offered by Project Management Institute (PMI) USA. It is one of the most prestigious certificate for project managers around the world. So important is it that many industries and companies worldwide have made it compulsory for their project managers to attain the PMP certification.
The best thing about PMP is that it is not industry specific. It covers “generally-accepted” knowledge and principles of project management. This knowledge can be used in managing projects across different fields of endeavours, whether it be construction, IT, telecommunications and so forth.
PMP equips you with the skills and knowledge you need to successfully manage and deliver on projects irrespective of industry or field.
PRINCE 2 (Projects IN Controlled Environments)
PRINCE 2 on the other hand is a project management methodology which was devised for UK’s government projects and was owned by the UK's Cabinet Office. Now, PRINCE2 is owned by AXELOS, a new joint venture company in the UK.
PRINCE2 certification has three levels:
1.PRINCE2 Foundation (Basic level)
2.PRINCE2 Practitioner (Intermediate level)
3.PRINCE2 Professional (Expert or Advanced level).
However, when we generally speak of PRINCE 2, we are often referring to PRINCE2 Foundation and/or Prince2 Practitioner. Prince2 Professional is quite rare to find as a much fewer number of people have attained it.
Prince2 is basically process-based project management approach that provides a clear step-by-step and detailed method for delivering a successful project. It also provides clear templates, processes and steps.
You can find a comparison between both certifications presented in a table on the next page.
PMP versus Prince2 Certifications
In conclusion, PRINCE2 Foundation certification is basis and for entry level professionals. Whereas PRINCE2 Practitioner and PMP are of almost the same level in recognition.
PMP provides you with the knowledge and skills you need to successfully manage a project and successfully deliver on it, while PRINCE2 is focused mainly on the processes and the framework to successfully execute the project.
It is on this basis that we recommend PMP as better suited for Project Mangers, aspiring and experienced, while for other professionals like Project engineers and Project coordinators, PRINCE2 might be a better – or more relevant option.