PRINCE2® Vs PMP®                ARE YOU IN A DILEMMA?Sonia Agarwal              Head of PMOPRINCE2® PRACTITIONER      STMi...
Agenda                                             2   Why do we need Project Management ? 5 min   What makes an Effecti...
Why do we need Project Management?                                         3 Project management is the discipline of plan...
What makes an effective Project Manager                                       4 Is it an innate ability OR Can it bedevel...
Project Management Certification                                        5 When is the right time?    When you want to en...
PRINCE2® Vs PMP®                                                   6                 PRINCE2®                           PM...
PRINCE2® Vs PMP®                                                      7                  PRINCE2®                         ...
PRINCE2® Vs PMP®                                                      8                 PRINCE2®                          ...
PRINCE2® Vs PMP®                                                       9                 PRINCE2®                         ...
8 benefits of Formal Project management training                                                   10  1. Help you be a mo...
PRINCE2® Certification                                       11Accreditation is governed by APMG and involves passingof tw...
How do I prepare for Prince2 certification?                                      12 Based on Managing Successful Projects...
PMP® Certification                                          13Accreditation is governed by PMI and involves passingof one ...
How do I prepare for PMP certification?                                   14 Based on the PMBOK fourth edition Attend 35...
In a Nutshell                                    15 Prince2 and PMP don’t compete , instead they complement! PMBOK can b...
Useful Links                                          16 If you want to attend my previous webinar on ‘Prince2 Project Ma...
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Software Project Management Series (Session 5): Prince2 Vs PMP: Are you in a Dilemma?

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The agenda would include an in depth comparative study on grounds of architecture, approach and governance between PRINCE2® ( Projects in Controlled Environment) and PMBOK ( Project Management Body of Knowledge), the 2 most popular standards in the world of ‘Project Management’.

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Software Project Management Series (Session 5): Prince2 Vs PMP: Are you in a Dilemma?

  1. 1. PRINCE2® Vs PMP® ARE YOU IN A DILEMMA?Sonia Agarwal Head of PMOPRINCE2® PRACTITIONER STMicroelectronics ( www.st.com)
  2. 2. Agenda 2 Why do we need Project Management ? 5 min What makes an Effective project manager? 5 min Project Management Certification- Why? 5 min Comparative Study on PRINCE2® vs PMP® 20 min 8 Benefits of Formal Project management Training – 5 min How to prepare for Certification Examination ? 5 min Summary and Useful Links - 5 min Q & A – 20 minSonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  3. 3. Why do we need Project Management? 3 Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals Project Management provides the focused effort required , through planning and execution, to reach a successful goal. Making of InternationalSpace StationSonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  4. 4. What makes an effective Project Manager 4 Is it an innate ability OR Can it bedeveloped? “Ability to make it happen” “Be able to apply skills and talent in whatevercombination necessary” “Consider more alternatives before giving up than other people do” “Question the assumptions that were left unchallenged by others” Apollo 13Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  5. 5. Project Management Certification 5 When is the right time?  When you want to enter into the world of project management’- Change in Career Choice  When your PM career is already firmly established How a certification helps?  Make your name stand out in a stack of resumes, so certification becomes a key differentiator  Over the years, you tend to develop your own style and preferences, which may mean you have both good and bad habits. Certification reinforces the good stuff and provides standards and structure to change the bad habits  Provide a solid base that makes it easier to introduce changes to internal methods and processes.Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  6. 6. PRINCE2® Vs PMP® 6 PRINCE2® PMP® Acronym stands for Projects IN Controlled Acronym stands for Project Management Environments 2nd version. ( 2009 release). Professional.PRINCE2® is a structured project management PMP® is a credential offered by PMI ( Projectmethod endorsed by the UK government as the Management Institute) and is the most popularproject management standard for public projects. project management standard endorsed by US.Exam administered by APMG Exam administered by PMI.Process Based approach to Project Management Knowledge Based approach to Project ManagementCertification requires no prior knowledge Requires 4500 hrs of project mgmt experience + 35/experience in project management hours of contact trainingA series of management processes defining what Describes core practices and a wider range ofmust be done, when and how it must be done and techniques that can be applied to manage a projectby whom over the life of a project. Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  7. 7. PRINCE2® Vs PMP® 7 PRINCE2® PMP®An integrated set of processes and themes Each topic area can be referred to in isolation(not isolated silos that can be selectively of others. It’s a plug-and-play model.applied). The principles are non-negotiable.Defines the roles of everyone involved in a project Focuses on the project managers roleSpecialist aspects and detailed techniques are Detailed techniques are well documented andnot elaborated in the framework itself due to are part of the frameworkthe generic nature of the frameworkDe-facto standard method for UK with a strong It is by far the leading approach in North America,presence in Europe, Australia, and other English- also accepted world wide.speaking countries . Currently very high demand inIndia since 2010.Being a PRINCE2 Practitioner demonstrates that Globally recognized and demanded, the PMP®you master the PRINCE2 methodology and have the demonstrates that you have the experience,necessary to apply the knowledge in real life case education and competency to successfully lead and direct projects.scenarios Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  8. 8. PRINCE2® Vs PMP® 8 PRINCE2® PMP®The USP of Prince2 is the ‘Tailoring Approach’ PMP being knowledge area based , doesn’t offerwhich ensure that project controls are based on the any such flexibilityproject’s scale, complexity, importance, capabilityand risk.Prince2 doesn’t cover in it’s scope, Specialist Detailed Techniques, Leadership capability,aspects, Detailed Techniques or Leaedership /Soft Professional Ethics and social responsibility are allskills well coveredBased on 7 Principles,7Themes and 7 Processes. In Based on 9 Knowledge areas, 5 process Groups andaddition there are 2 techniques of PBP and QRT 42 processes.also available.Simple english , common sense based methodology. Since it deals with detailed techniques, mugging upRequires no mugging up. Very easy to comprehend of calculation formulas and tools/techniques alongand remember. with Input/Outputs to each process is expected to clear the certification.Decision to go the Prince2 way, should usually be PMP techniques can be applied by the projecttaken by the Senior Management, their managers creating a standard culture of projectcommitment to the project management approach management, so it’s more bottom upwould be the critical success factor as it is applied Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011Top-Down
  9. 9. PRINCE2® Vs PMP® 9 PRINCE2® PMP®PRINCE2 Training organizations must be PMP training organizations are not required toAccredited and hold a UK Government license to comply with an internationally recognized Qualitytrain in PRINCE2. List of accredited ATO’s is Management standard for training & certification.available on APM international website5 day intensive classroom training is usually 4 day intensive contact training program, followedfollowed by the certification examination. Results by 150-200 hrs of self study will prepare you wellare out in 4 weeks to take the certification examTrainers must pass an independent competency Trainers competency to deliver training is notassessment /interview before certification and are formally assessed,subject to assessments on annual basis.For CCR - Certification Exam needs to be re-taken 60 professional development units (PDUs) must beevery 3-5 years earned over a three-year cycle, from activities such as researching, authoring articles, speaking on project management-related topics, or being engaged full time in project managementExam Based on OGC manual ‘Managing Successful Exam Based on PMBOK ( Project Management BodyProjects”. PRINCE2 is in the public domain, offering of Knowledge) IVth Edition. PMBOKnon-proprietorial best practice guidance on project is a publication that encompasses the recognizedmgmt PRINCE2 is a registered trademark of OGC best practices in Project management. Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  10. 10. 8 benefits of Formal Project management training 10 1. Help you be a more valuable contributor to your company, by meeting the customer’s specific certification criteria, Be able to understand the respective ‘lingos’. 2. Develop accurate project schedules to help you meet timelines, track resources, anticipate risks, deliver projects on time and keep projects within budget. 3. Help you successfully manage teams across organizational and global boundaries. 4. Be able to determine the correct number and type of resources for your project to ensure its success, saving you time and costly mistakes. 5. Helps develop team-building skills. 6. Learn how to confidently develop project success criteria and methods to clearly demonstrate a project’s success. Prepare and Sell the Project’s business case better 7. Discover how to use resources more efficiently, improve stakeholder communications and multitask in a more efficient manner. 8. Communicate more effectively, resulting in less downtime and smoother workflow. Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  11. 11. PRINCE2® Certification 11Accreditation is governed by APMG and involves passingof two ‘Paper Based’ exams :• Foundation - 1 hour, multiple choice exam. • To tests the fundamentals/concepts of PRINCE2® • Prerequisite – 3 day Prince2 Foundation Training by an Accredited Training Organization(ATO)/Self Study • Foundation Pass marks - 38/75 ( 55%)• Practitioner - 2.5 hours . Objective Testing Exam format . • To test the Application of the PRINCE2® knowledge in real life scenarios, requires in-depth understanding of concepts • OGC Manual Allowed (Open Book) • Prerequisite – Passed Foundation Exam + 2 day Prince2 Practitioner Training by an Accredited Training Organization(ATO) • Practitioner Pass Marks – 59/108 ( 55%) – 5 questions unmarked • No Negative markingSonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  12. 12. How do I prepare for Prince2 certification? 12 Based on Managing Successful Projects with PRINCE2 2009 Edition Attend 3 days of Classroom Training on Prince2 Foundation followed with some mocks and the real ‘Prince2 Foundation Exam’. Results made available immediately. Attend 2 more days of Classroom Training on Prince2 Practitioner Read the OGC manual , with special emphasis on ‘Product Descriptions’ of 26 management products, roles and responsibilities explained in the Appendix of manual Take at least 2 mock exams and learn from your mistakes When you start scoring above 80% in the mock exams, you are ready to take the final examSonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  13. 13. PMP® Certification 13Accreditation is governed by PMI and involves passingof one computer based exam conducted in the Prometric centers• Duration – 4 hours ~ 240 minutes• 200 multiple choice questions• 25 questions are pretest questions. Randomly placed throughout the exam and are used for research purposes. These questions are not evaluatedwhile computing exam results. You will only be evaluated on the basis of 175questions• To pass you must answer a minimum of 106 of the 175 scored questions correctly.• After you finish and submit the exam, in the Prometric center you will immediately receive the overall mark-sheet for the exam .• No Negative Marking• You are not allowed to take anything except your IDs in the exam. No mobiles.• Inside the examination center you will be provided with rough sheets, pencils, a calculator and an ear plug.• You may take a short break during exam, but the timer of 240 minutes will stay ON!Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  14. 14. How do I prepare for PMP certification? 14 Based on the PMBOK fourth edition Attend 35 hours of Classroom Training with a good trainer. Read the PMBOK fourth edition Read some popular book like Rita Mulcahy 7th edition, invest at least 150 hours of self-study Take a few mock exams. Revise the sections of the books and PMBOK on which you are not scoring well. When you start scoring above 80% in the mock exams, you are ready to visit a Prometric center for the exam.Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  15. 15. In a Nutshell 15 Prince2 and PMP don’t compete , instead they complement! PMBOK can be summarized as an approach that provides information on what a project manager needs to know ( Operational Bible) whereas PRINCE2 demonstrates how to apply this knowledge. The Process clarity and the strengths of PRINCE2 are balanced by the depth of the PMBOK Guide.Sonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
  16. 16. Useful Links 16 If you want to attend my previous webinar on ‘Prince2 Project Management’, you can go and attend the video recording available at:http://www.techgig.com/webinar.php?webinar_id=31 PRINCE2® Success Stories/Articles  http://www.apmg-international.com/home/News_Events/CaseStudiesArticles.aspx APMG International  http://www.apmg-international.com/ PMI website  http://www.pmi.org.in/ You can Email me for any questions/clarifications at soniaagarwal5@gmail.comSonia Agarwal Webinar – PRINCE2® Vs PMP® 8 December 2011
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