PMP Vs Prince2

One question that I am often asked is - How is PMP different from PRINCE2?

 

This piece of comprehension is an attempt to answer this question to whatever detail that can be appropriate over a blog posting.

 

FAQ	PMP	PRINCE2
What is it	A Credential	A Credential
What does it stand for	PMP - Project Management Professional	PRINCE - PRojects In Controlled Environment
Certifying body	Project Management Institute (PMI), USA	APM Group, London, UK
What is the exam based on	PMBOK Guide	PRINCE2 Manual
Who can write the exam (eligibility)	Any professional with a Graduate* degree, 35PDUs**, and 4500hrs (about 5-6yrs) of Project Management experience may write the exam	No such defined eligibility criteria
How many exams should one write to get the credential	One	One for PRINCE2 Foundation One for PRINCE2 Practitioner
Where can one write the exam	From any authorized prometric centre. It is a computer based test (Paper Based option also available for selected locations). Its an Objective type Exam.	Through any Accredited Training Organisation (ATO). It is a paper based exam. Its an Objective type exam, and is open-book (only PRINCE2 Manual is permissable)
What is the duration of the Exam	4 Hrs	Foundation Exam - 1 Hr Practitioner Exam - 3 Hrs
How many questions to be answered	200 questions (one mark each)	Foundation Exam - 75 (one mark each) Practitioner Exam - 9 (40 marks each)
What is the passing score	106 out of 175, i.e. about 60.6% (25 questions are Pretest questions)	Foundation Exam - 38 out of 75 Practitioner Exam - 180 out of 360
What is the current (as on Apr 09) standard applicable for the Exam	PMBOK Guide 4th Edition	PRINCE2 Manual - Nov 2005 version
When will it be next updated	Year 2012 (Revised every four years)	June 2009 (No particular revision schedule)
What is the history behind	PMI was formed in 1969. Project Management Body of Knowledge is a collection of best practices from across industries, and out of that came a framework i.e. PMBOK Guide. The first version was released in 1996.	PRINCE2 was relesed in 1996 as a generic project management method. It is a property of the Office of Government Commerce (OGC), London.
What is the framework design	PMBOK Guide identifies Nine Knowledge Areas and Five Process Groups. Within the Knowledge Areas and Process Groups are 42 processes using which the Project Manager can manage the project systematically. Each process is further explained by identified Inputs, Tools & Techniques, and Outputs.	PRINCE2 Manual (Nov 2005 version) defines Eight Components, Eight Process Groups, and Three techniques. Across process groups are 45 sub processes that are adopted for management of a project.
Which one is better	The standard is a suggestive model and it may not apply to all projects all the times, with the same degree of rigor.	The model defines a step-by-step method of managing a project that allows little deviation for compliance.
Which one is used more widely	While both are good models for management of projects, PMBOK Guide gives more liberty to the project manager to adopt the model as appropriate for the project. This however requires high PM maturity, for better application. It is widely followed world-wide.	PRINCE2 defines a step-by-step method for management of projects, hence the PM needs to simply adopt it as-is and does not demand high maturity. But the prescriptive nature of the model is often considered a constraint, as it may/may not be applicable to all projects in the same manner. It is widely followed in the UK and Europe, and also by companies doing business in these regions
Where can one find more information	www.pmi.org	www.apmgroup.co.uk

 

Please note - the information above is based on my current knowledge and understanding till date. Any inputs to add accuracy and detail are most welcome.

 

Also, I would certainly like to refrain from explaining the standards here as it is a daunting job, plus there are plenty of other sources available online for that purpose.......Google it and you will get 184million links!! :-)

 

Happy Learning...