What is the difference between PMP and PRINCE2?
The PMBOK® Guide and PRINCE2® have very different perspectives on project management but the combination of the two provides a powerful tool for organisations to achieve successful project outcomes.
PMP® is about proving your experience using the Project Management Body of Knowledge (PMBOK). PMBOK takes the viewpoint of the project manager, providing everything the project manager needs to know and understand.
PRINCE2, in contrast, takes the organisational viewpoint and is intended to meet the objectives of the organisation, defining the roles and responsibilities of various stakeholders in the project delivery process.
The PMP certification is governed by the Project Management Institute (PMI), upon which you will need to hold a membership with PMI and comply with their pre-requisites which are found here. Once the pre-requisites have been proven you will need to self-study the PMBOK (or join the PMI study groups). Lumify Work offers an exam prep course which is designed to assist only with one component of reaching this certification. You could choose to run this before or after the self-study period, although some students prefer the assistance right from the beginning.
PRINCE2 on the other hand is an end-to-end methodology that you learn in class, then sit the certification exam when you're ready. You can sit it during the same week in most cases.
In planning, PRINCE2 takes the product breakdown approach whereas PMBOK takes a work breakdown approach. One ensures that all the necessary products are planned for and the other ensures that all the necessary work is planned for.
Both PMP and PRINCE2 are waterfall-based.
Organisations and project management professionals may well be asking themselves whether they should be using PMBOK or PRINCE2 and which approach would be best for them. Our short answer is that students are recommended to train in whichever one their organisation is using. But depending on your context, you may be asking the wrong question instead of looking at the possibilities that a synergy between the two methodologies can bring. For example, multinational organisations undergoing mergers and acquisitions can benefit from a combination of PMBOK and PRINCE2.