A R E Y O U I N A D I L E M M A ?

PRINCE2® Vs PMP®

Sonia Agarwal Head of PMO STMicroelectronics ( www.st.com)

PRINCE2® PRACTITIONER

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

Agenda

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 min

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Sonia Agarwal Webinar – PRINCE2® Vs PMP®

Why do we need Project Management?

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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 International

Space Station

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

What makes an effective Project Manager

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Is it an innate ability OR Can it be developed?

“Ability to make it happen”

“Be able to apply skills and talent in whatever combination necessary”

“Consider more alternatives before giving up than other people do”

“Question the assumptions that were left unchallenged by others”

Apollo 13

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

Project Management Certification

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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®

PRINCE2® Vs PMP®

PRINCE2® PMP®

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PRINCE2® is a structured project management method endorsed by the UK government as the project management standard for public projects. Exam administered by APMG

PMP® is a credential offered by PMI ( Project Management Institute) and is the most popular project management standard endorsed by US. Exam administered by PMI.

Certification requires no prior knowledge /experience in project management

Requires 4500 hrs of project mgmt experience + 35 hours of contact training

Acronym stands for Projects IN Controlled Environments 2nd version. ( 2009 release).

Acronym stands for Project Management Professional.

A series of management processes defining what

must be done, when and how it must be done and

by whom over the life of a project.

Describes core practices and a wider range of

techniques that can be applied to manage a project

Process Based approach to Project Management

Knowledge Based approach to Project Management

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

PRINCE2® Vs PMP®

PRINCE2® PMP®

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Defines the roles of everyone involved in a project Focuses on the project manager's role

De-facto standard method for UK with a strong presence in Europe, Australia, and other English-speaking countries . Currently very high demand in India since 2010.

It is by far the leading approach in North America, also accepted world wide.

An integrated set of processes and themes (not isolated silos that can be selectively applied). The principles are non-negotiable.

Each topic area can be referred to in isolation of others. It’s a plug-and-play model.

Being a PRINCE2 Practitioner demonstrates that

you master the PRINCE2 methodology and have the

necessary to apply the knowledge in real life case

scenarios

Globally recognized and demanded, the PMP® demonstrates that you have the experience, education and competency to successfully lead and direct projects.

Specialist aspects and detailed techniques are not elaborated in the framework itself due to the generic nature of the framework

Detailed techniques are well documented and are part of the framework

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

PRINCE2® Vs PMP®

PRINCE2® PMP®

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Prince2 doesn’t cover in it’s scope, Specialist aspects, Detailed Techniques or Leaedership /Soft skills

Detailed Techniques, Leadership capability, Professional Ethics and social responsibility are all well covered

Simple english , common sense based methodology. Requires no mugging up. Very easy to comprehend and remember.

Since it deals with detailed techniques, mugging up of calculation formulas and tools/techniques along with Input/Outputs to each process is expected to clear the certification.

The USP of Prince2 is the ‘Tailoring Approach’ which ensure that project controls are based on the project’s scale, complexity, importance, capability and risk.

PMP being knowledge area based , doesn’t offer any such flexibility

Decision to go the Prince2 way, should usually be

taken by the Senior Management, their

commitment to the project management approach

would be the critical success factor as it is applied

Top-Down

PMP techniques can be applied by the project managers creating a standard culture of project management, so it’s more bottom up

Based on 7 Principles,7Themes and 7 Processes. In addition there are 2 techniques of PBP and QRT also available.

Based on 9 Knowledge areas, 5 process Groups and 42 processes.

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

PRINCE2® Vs PMP®

PRINCE2® PMP®

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5 day intensive classroom training is usually followed by the certification examination. Results are out in 4 weeks

4 day intensive contact training program, followed by 150-200 hrs of self study will prepare you well to take the certification exam

For CCR - Certification Exam needs to be re-taken every 3-5 years

60 professional development units (PDUs) must be 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 management

PRINCE2 Training organizations must be Accredited and hold a UK Government license to train in PRINCE2. List of accredited ATO’s is available on APM international website

PMP training organizations are not required to comply with an internationally recognized Quality Management standard for training & certification.

Exam Based on OGC manual ‘Managing Successful Projects”. PRINCE2 is in the public domain, offering non-proprietorial best practice guidance on project mgmt PRINCE2 is a registered trademark of OGC

Exam Based on PMBOK ( Project Management Body of Knowledge) IVth Edition. PMBOK is a publication that encompasses the recognized best practices in Project management.

Trainers must pass an independent competency assessment /interview before certification and are subject to assessments on annual basis.

Trainer's competency to deliver training is not formally assessed,

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

8 benefits of Formal Project management training

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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®

PRINCE2® Certification

Accreditation is governed by APMG and involves passing of 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 marking

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Sonia Agarwal Webinar – PRINCE2® Vs PMP®

How do I prepare for Prince2 certification?

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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 exam

Sonia Agarwal Webinar – PRINCE2® Vs PMP®

PMP® Certification

Accreditation is governed by PMI and involves passing of 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 through out the exam and are used for research purposes. These questions are not evaluated while computing exam results. You will only be evaluated on the basis of 175 questions • 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!

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Sonia Agarwal Webinar – PRINCE2® Vs PMP®

How do I prepare for PMP certification?

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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®

In a Nutshell

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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®

Useful Links

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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.com