PRINCE2 and PMBOK are the two most popular project management techniques in the world. The concepts behind both of these methods have been around for some time, but they have only recently gained popularity due to their usefulness. These techniques are widely used by companies all over the globe, but they do differ in some ways. In this article we will discuss both methodologies and compare them so that you can decide which one best suits your needs as a project manager or team leader!
What is PRINCE2?
PRINCE2 stands for PRojects IN Controlled Environments. PRINCE2 is a framework that can be used to manage projects in an orderly and disciplined manner. It’s similar to other project management methodologies, like PMBOK and PMI’s Project Management Body of Knowledge (PMBOK).
PRINCE2 is a set of best practices for delivering successful products or services within time-bound frameworks. The methodology was developed by the Office of Government Commerce (OGC) in the UK in 1996, which later became part of the Cabinet Office in 2004 as part of its Business Improvement Programmes (BIPs).
PRINCE2 and PMBOK
Project Management Body of Knowledge (PMBOK) is a project management method, while PRINCE2 is a methodology. The difference between the two is that a methodology provides guidance on how to implement best practices in your organization, whereas a method provides tools and techniques you can use to accomplish tasks.
By contrast, PRINCE2 course is more specific than PMBOK; it covers fewer aspects of project management but does so in more depth than PMBOK does. For example, PRINCE2 describes nine core processes for managing projects while PMBOK only discusses five core processes for managing projects.
Similarly, both frameworks include roles and responsibilities for achieving success with each process; however, PRINCE2 goes into greater detail about these roles and responsibilities than PMBOK does by providing templates for creating them (rather than just listing examples). Finally, both frameworks include templates that you can use when completing certain activities; however again there are more templates available within PRINCE2 than within PMBOK because they were developed specifically for this purpose rather than repurposed from other sources like ISO 19011-12:2018 Guide on quality management systems documentation requirements.”
What is PRINCE2?
PRINCE2 is a project management methodology that was developed in the UK. It provides a framework for managing projects, regardless of their size, complexity or industry.
PRINCE2 stands for “PRojects IN Controlled Environments.” The name was chosen because the development of PRINCE2 took place in a controlled environment—specifically, under strict time constraints with limited resources and personnel; furthermore, it was developed in just two years between 1989 and 1991.
However, despite being called “a methodology” by some people (which implies that it’s an abstract thing), PRINCE2 is really more like a set of principles and processes than anything else—it’s about guiding your actions as you manage your project based on those principles and processes. This means that if you have expertise in one area but not another (for example: programming vs marketing), then there are certain parts of this course where you might find yourself lost because they’re not relevant to your own experience with projects! Nonetheless we can still learn together 🙂
How to master the 7 principles of project management
Project Management Principles
The seven principles of project management are:
Managing the project as a whole
Managing the people involved in the project (team members, stakeholders and other interested parties)
Planning how to achieve your strategic aims by managing activities, resources and risks effectively. This involves identifying what is required from each activity so that it fits into a plan for achieving objectives or targets. You should also consider how much time any activity will take and its cost so that you can monitor progress against them. If possible, you should try to identify any potential problems before they arise, so that you can put measures in place to deal with them before they become serious issues. The whole process starts with setting out clear goals for your work in order to make sure everyone knows what needs doing; this means having an overall vision or objective which helps guide all their decisions throughout planning stages – although there may be more than one goal depending on context e.g., outcomes might be different depending on whether someone wants improve performance or reduce expenditure).
What is a process?
A process is the sequence of activities performed to produce a specific output or result.
What is a process map?
A diagram that shows the steps in a project, and how they relate to each other. Also known as an activity on the left, and arrows showing how it relates to other activities on the right (or vice versa). You can use these diagrams for brainstorming processes before you create them in PRINCE2 syntax.
What is a process flow?
The order in which activities are performed in order to deliver outputs of value at various stages of your project lifecycle. To create one yourself, ask yourself “What happens first?” then “What happens next?” and so on until you have all your steps listed from start through completion of your project (or stage within it).
What is PRINCE2?
PRINCE2 (PRojects IN Controlled Environments) is a project management methodology that was developed by the UK government in the late 1990s. It’s been used for nearly two decades and is one of the most popular project management methodologies on the market today.
How can you take PRINCE2?
You’ll need to complete a course at an accredited university or college before you can take your exam, which will test your knowledge of all aspects of PRINCE2. You’ll also need to have five years’ experience working in IT project management before taking this course; if you don’t meet this requirement, consider an alternative certification like PMP or MSP!
Benefits of formal training to gain the certification
You can rest assured that your learning and certification will be recognized worldwide. The PRINCE2 certification is recognized in the UK, US, and many other countries. It’s also recognized by many companies and organizations.
Many universities recognize the PRINCE2 certification as well. This means that if you’re pursuing an MBA at a university like Harvard or Stanford Business School, they may accept your PRINCE2 certification as part of your work experience requirement. Some colleges even require applicants to have this type of experience on their resumes before they’ll consider them for admission!
comparisons between the two most popular project management techniques
It is important to note that both PRINCE2 and PMBOK are project management methodologies. However, the two differ in their goals and objectives.
PRINCE2 is a formal process-based approach that focuses on specific processes:
Monitoring and Controlling
PMBOK is a well-defined, structured approach based on five main elements:
Project Integration Management (PIM) – Guides how project managers align resources with business goals by managing stakeholder expectations through clear communication channels at all levels of an organization.
Project Scope Management (PSM) – Refers to all activities involved in planning and controlling scope change requests made by stakeholders before or during execution of a project; usually involves performing some type of cost benefit analysis when deciding whether to revise scope based on new information provided by stakeholders such as customers or vendors who may need additional documentation related specifically towards their own needs/requirements prior approval from higher management levels within various departments within an organization’s organizational structure due diligence requirements regarding any proposed changes before making final decisions about whether or not these changes should take place during execution phase when contracting out work outside company walls so there would be no risk associated costs associated with making changes midstream after initial launch date has already passed deadline timeframe window period deadline has already closed
The main difference between PRINCE2 and PMBOK is that the former focuses on project management and the latter on best practices. Both are useful in their own way, but they have different audiences and objectives which means they can’t be used interchangeably. The PRINCE2 certification is more geared towards experienced project managers who want to study new techniques while PMBOK provides guidance for entry-level professionals who need a basic understanding of how projects work before moving up the career ladder.