Is Prince2 Worth It? – CV Nation

Is Prince2 Worth It?

In this guide, we analyse the advantages and disadvantages of Prince2 to help you decide if you should invest time and money in pursuing a Prince2 qualification. We also discuss the pros and cons of Prince2 for organisations.

Prince2 is one of various project management methodologies that project managers use to deliver projects. It is also one of the most commonly used project management methodologies globally. But is it worth studying for a Prince2 certification? Or should you spend your time and money pursuing other project management methodologies?

Prince2 is worth the time and money involved if you’re pursuing a career in project management. It is a highly flexible methodology that can be used to manage projects in any sector and country. Prince2 is also an essential requirement for many employers in the project management sphere. As such, a Prince2 certification will greatly improve your chances of landing project management roles.


What is Prince2

Prince2 is a project management methodology, originally developed by the UK government as a government standard for IT projects. Now, the project management methodology is widely used across the world by project managers in every industry, particularly in the UK, Australia and Western Europe.

The Prince2 methodology consists of four elements: principles, themes, processes and the project environment.

The Seven Principles of Prince2

1. Continued Business Justification

2. Learn from Experience

3. Defined Roles and Responsibilities

4. Manage by Stages

5. Manage by Exception

6. Focus on Products

7. Tailor to Suit Project Environment

The Seven Themes of Prince2

1. Business Case

2. Organisation

3. Quality

4. Plans

5. Risk

6. Change

7. Progress

The Seven Processes of Prince2

1. Starting Up a Project

2. Initiating a Project

3. Directing a Project

4. Controlling a Stage

5. Managing Product Delivery

6. Managing Stage Boundaries

7. Closing a Project


Advantages of Obtaining a Prince2 Qualification

1. Flexibility

Project managers in every industry can use Prince2 for any project. As the seven key principles of Prince2 can be applied to any project, regardless of size, importance and type, it is a very flexible methodology.

Why is flexibility important?

Because it means Prince2 qualifications will always be useful to you as a project manager. No matter which company you work for or which sector you work in, you can take your Prince2 certification with you and continue managing projects.

2. More Job Opportunities

There is no doubting the fact that obtaining a Prince2 qualification will open the door to more job opportunities for those in project management. Prince2 is used in 220 countries across the world. As such, your employment prospects will grow with a Prince2 certification to your name as will be able to pursue jobs across the globe.

3. Salary Increase

Jobs that require a Prince2 qualification tend to pay well. The average salary for professionals with a Prince2 certification in the United States is $97,915.

As the methodology is flexible and used across the world, project management professionals with a Prince2 qualification can pursue high-paying jobs in countries on all continents.

4. Fast Completion

Most Prince2 students take 30-50 hours of study to obtain a Prince2 Foundation qualification and the same number of hours to obtain a Prince2 Practitioner qualification.

Getting yourself a Prince2 qualification won’t take you an age. However, if you’re studying part-time and online, you can expect to invest up to 12 months in your Prince2 studies.

Managing Successful Projects with Prince2 is a fantastic method of study.

As it’s the official manual for Prince2, many people find the guide more beneficial than course material when it comes to studying for your Prince2 qualification. View and order the manual on Amazon to support your Prince2 studies.

5. You'll be a Better Project Manager

Employing Prince2’s principles will help you become a more effective project manager. Even if you’re familiar with other project management methodologies, developing a knowledge of Prince2’s principles and practices can only improve your capabilities.


Prince2 Certifications

There are two standard Prince2 certifications. Prince2 Foundations is the entry-level certifications and Prince2 Practitioner is the advanced level. Prince2 Foundations must be completed before progressing to Prince2 Practitioner.

Alongside the two standard Prince2 certifications, project managers can also pursue the Prince2 Agile qualifications, which combine Prince2 and Agile methods. Like the standard certifications, the Prince2 Agile programme consists of Prince2 Agile Foundations and Prince2 Agile Practitioner.

How Much Does Prince2 Cost?

The cost of Prince2 courses varies based on the course provider, the type of Prince2 qualification and your method of study. The price for the combined Prince2 Foundation and Practitioner qualification can range from 800 pounds to 1,800 pounds (600 dollars to 1,350 dollars).

The individual Prince2 Foundation course can range from 300 pounds (200 dollars) to 1,000 pounds (750 dollars). Likewise, the individual Prince2 Practitioner course can range from 300 pounds (200 dollars) to 1,000 pounds (750 dollars).

Virtual Prince2 study should be priced much lower than the traditional four or five day classroom study.

Each course provider sets their own price for the provision of their services. Before choosing a Prince2 course provider, do some research to ensure you get a good service at a reasonable price. Some provider’s costs include add-ons and additional costs, so it’s important to take these into account when making a decision on your Prince2 course provider.

Exams

It’s important to keep exam costs in mind when choosing a Prince2 course provider. Some providers will include exam fees in their overall cost, while others will ask for exam fees at a later date.

Ideally, exam costs should be included in the overall course cost.

Training and Course Material

Most Prince2 course providers should provide you with training material. Before deciding on a course provider, ensure to find out if they will provide you with quality course material. Check out reviews from others who have completed the course.

Managing Successful Projects with Prince2, which is a necessity when it comes to studying for your Prince2 certifications, costs £78.56 on Amazon.

Many people who study Prince2 report that the manual is more beneficial than the courses, so ensure to pick up a copy.


Benefits of Implementing Prince2 for Organisations
Business Justification

Prince2 focuses highly on value and benefits. Projects executed using the Prince2 methodology must have clearly-defined objectives and project managers must have a strong understanding of how the project will benefit the organisation, whether via profit growth, efficiency improvements etc.

The business justification is re-examined during various stages of projects to provide a strong platform for projects to successfully meet goals and provide value.

Business-Centric

As Prince2 focuses on how projects can add value to businesses and provide long-term business success rather than the delivery of a project, employing Prince2 can contribute to long-term business improvement.

Best Practices

Prince2 makes use of project management best practices, providing organisations with optimal chances of success when it comes to delivering projects.

Communication

Prince2 uses a common global language, which enhances communication between stakeholders and project teams. As Prince2’s terminology and practices are so widely used, project management professionals from all corners of the world are familiar with them.

The enhanced communication between stakeholders and project teams saves time and improves efficiency, ultimately saving organisations money.

Continuous Improvement

The Prince2 methodology places a great deal of importance on continuous improvement, ensuring project teams learn lessons from projects and improve their project management capabilities for future initiatives.

This not only helps to ensure that projects don’t become more important than their end result, but it also improves project teams’ performance by enabling them to progress towards clearly-defined objectives.

Versatility

Prince2 can be used for all projects, regardless of industry, location, value or importance. This versatility ensures organisations using Prince2 don’t need to recruit extra personnel or change their ways of working for new projects.

Disadvantages of Implementing Prince2 for Organisations
Documentation

Some project managers claim that Prince2 involves too much documentation. However, many believe the high volume of documentation involved with Prince2 plays a key role in achieving project success as it provides structure to projects.


Conclusion

Pursuing Prince2 qualifications is highly beneficial for project managers (and aspiring project managers) as the qualifications can increase your salary and provide you with greater career prospects.

Prince2 is a globally recognised project management qualification that can be applied to any project. It’s flexibility means that you can pursue project management roles in over 220 countries across the globe when you are fully certified.

According to Totaljobs, the average salary for jobs that require a Prince2 qualification in the UK is £55,623. In the United States, the average salary for Prince2-certified professionals is $97,915, according to Payscale.

The length of time required to obtain a Prince2 certification is not that great in comparison with other qualifications. Classroom-based Prince2 studies are typically completed within three to five days. As such, obtaining a Prince2 qualification should not have a significant impact on your current schedule.


Prince2 statistics

We hope you have found this guide useful in determining if Prince2 is right for you. If you would like assistance with creating a great project management CV, feel free to check out our project management CV example and CV writing guide.


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