PRINCE2 is the world’s leading project management certification for good reason. The PRINCE2 method has been successfully applied to industries across the globe. Both individuals and organizations can benefit from learning or using the PRINCE2 methodology.
If you are considering taking a PRINCE2 course read on to find out how PRINCE2 benefits your career and your organisation and the advantages and disadvantages of PRINCE2.
How does PRINCE2 benefit me?
As an individual becoming PRINCE2 certified gives you 4 key benefits.1. Improved career opportunities
Earning your PRINCE2 certifications will greatly increase the number of jobs you’re qualified for. Those looking to hire their next project manager often use PRINCE2 as an industry-standard of competence in project management.Even if you’re not looking to work as a project manager, having a PRINCE2 qualification shows potential employers that you know how to work in a PRINCE2 environment and can support PRINCE2 project development teams.2. Increased salary
Gaining PRINCE2 can boost your earnings. In 2023, jobs in the UK requiring PRINCE2 averaged £55k (according to totaljobs.com)[1]. This compares favourably with average project manager salaries I the UK of £46,000 (according to indeed.com)[2].3. Upskilling
Studying PRINCE2 will give you some core project management skills to help you take part in or manage projects. PRINCE2 training courses will provide you with key project management skills and knowledge that you’ll need to be successful in your chosen career. PRINCE2 also teaches important terminology used in PRINCE2 environment and by practicing PRINCE2 project managers that can help you communicate effectively in the workplace.4. Confidence
PRINCE2 training can give you confidence in your abilities to work as a project manager or support project management teams.How does PRINCE2 benefit my organisation?
PRINCE2 offers an organisation many benefits.
1. Project management best practices
PRINCE2 is a tried-and-tested approach to project management. The PRINCE2 method can be tailored to suit your unique context and business needs. In addition, you’ll have access to decades of research conducted by the UK Cabinet Office to help support your decision-making.
2. Generic
PRINCE2 is generic. The PRINCE2 method can be applied to any project and can be used in any industry. PRINCE2 provides a common framework around which you can structure your business practices. This can help improve productivity and profitability.
3. Communication
PRINCE2 provides a common vocabulary which you can employ in your day-to-day communications to help improve understanding and reduce mistakes. This common terminology can also help you better interface with third parties who also use PRINCE2.
4. Accountability
PRINCE2 helps define individual roles and duties. This increases accountability and gives employees a better sense of responsibility.
5. Outputs
PRINCE2 focuses on delivering high-quality products that benefit both consumers and businesses. It also helps improve project development by ensuring adequate risk and quality assessments are in place and helps streamline individual project development phases to increase profitability and development speed.
6. Adaptable
PRINCE2 can be tailored to suit any organisation. If you train using our PRINCE2 courses, you’ll learn how to adapt PRINCE2 methods to suit the unique challenges your business face.
7. Saves senior managers’ time
PRINCE2 relies primarily on written reports to aid communication. This saves your senior managers’ precious time by eliminating the need for lengthy meetings.
8. Business-focused
PRINCE2 focuses on delivering benefits to your organization. It aids in the construction of robust business cases to ensure that projects are always goal-oriented and profitable.
9. Involves stakeholders
PRINCE2 encourages the involvement of stakeholders in decision-making. This helps ensure projects meet stakeholder requirements and can help eliminate costly mistakes in development.
10. Continuous improvement
PRINCE2 also focuses on improving project development with each successful application of the PRINCE2 method. This can help streamline your business practices over time and can lead to greatly improved project quality and development speed.
11. Consistency
Because PRINCE2 uses a common terminology, application of the PRINCE2 method can promote consistency through the ability to reuse project assets.
All the benefits above are all great reasons to get your boss to fund your PRINCE2 course.
PRINCE2 advantages and disadvantages
Advantages
- Widely known.
- Easy to recruit people with certification.
- Based upon project management best practices.
- Is a full project management methodology.
- Can be used on any project type or size.
- Principles can be applied universally.
- Can be used with agile.
- Complements the PMBOK® Guide.
- Certification is quick (compared with PMP®).
- No prior qualifications needed.
Disadvantages
- Only has 2 tools and techniques (over 100 in PMBOK® Guide).
- Doesn’t cover soft skills.
- Easy to run PINO (PRINCE2 IN name Only) projects.
- Requires senior management buy-in to be successful.
- Requires experience to apply it well.
- Has (unfair) reputation that it’s documentation-heavy.
- Has (unfair) reputation that it only supports waterfall approach.
PRINCE2 benefits infographic
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References
[1] Totaljobs.com. “What Is the Average Salary for Prince 2 Jobs?” Accessed March 22, 2023. https://www.totaljobs.com/salary-checker/average-prince-2-salary.
[2] Indeed.com. “Project manager salaries in United Kingdom.” Accessed March 22, 2023. https://uk.indeed.com/career/project-manager/salaries.