Prince2 & PMBOK Comparison Demystified
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The document compares the PMBOK and Prince2 project management approaches, highlighting their similarities, differences, and complementary nature. PMBOK provides a body of knowledge detailing the 'what' of project management, while Prince2 offers a prescriptive methodology outlining the 'how.' Both methodologies serve as valuable resources for effective project implementation across various sectors.
Prince2 & PMBOK Comparison Demystified
- 1. PRINCE2 & PMBOK COMPARISON DEMYSTIFIED CPMG Inc. © 2014 The Smarter Everyday project is owned and operated by CTE Solutions Inc. 1
- 2. About this seminar This seminar provides an overview of the PMBOK approach and PRINCE2 method and examine the similarities and differences between PMBOK® Guide and PRINCE2 method. Finally, it suggests how these two project management approaches relate to and complement each other and how , PRINCE2 provides added value to a PMBOK® Guide knowledge base. Jacques Ledoux, PMP, PRINCE2, ITIL Accredited & Certified Trainer Jacques@capitalPMgroup.ca Tel. 613-850-7529 CPMG Inc.© 2014 2
- 3. Foreword Many international standards exist, and have initiated the emergence of project management certifications that targets individuals rather than organizations. Despite this orientation, most project management standards are process-oriented. Therefore, many Government organizations and private companies have developed in-house methodologies that are more or less inspired by these standards. There are two major process-oriented certification bodies who have a dominant and significant influence world-wide. CPMG Inc.© 2014 3
- 4. Major PM certification bodies These are: The Project Management Institute (PMI) with the Project Management Body of Knowledge (PMBOK® Guide ed. 5), and The Office of Government Commerce (OGC) with PRINCE2, with the latest publication in 2009. CPMG Inc.© 2014 4
- 5. Comparison of PM standards The PMBOK or Project Management Body of Knowledge is intended to encapsulate all the knowledge that relates to Project Management. The PMBOK® Guide clearly aids the development of knowledge and understanding about PM. PRINCE2 is a methodology and process for managing a project in any public or private sectors or industries that improves the chances of successful project outcomes. There are other methodologies that may do the same; but PRINCE2 is the most widely adopted method world-wide. CPMG Inc.© 2014 5
- 6. Methodologies Why do we need one? • • • • Be more efficient at implementing projects To improve maturity of PM processes To have a common understanding of steps and roles For new and existing organizations (or re-organization) Options for sourcing a methodology Custom develop one for your organization or Use an existing proven methodology CPMG Inc.© 2014 6
- 7. Developing an IT PM Methodology Just as projects are unique, so are approaches to project management A standard describes what should be done; where a methodology describes how things should be done Many organizations develop their own project management methodologies, especially for IT projects PRINCE2, Agile, Rational Unified Process (RUP), and Six Sigma are different project management methodologies. CPMG Inc.© 2014 7
- 8. PMBOK and PRICE2 Adoption Since many of the Projects outsourced are currently from the Americas, the knowledge of PMBOK® framework and the PMP® Certification have become more desirable for companies and participants from outsourcing countries. PRINCE2® is already widely used in UK and European Countries, whereas PMBOK® based standard is quite popular in countries part of the Americas. However as Consulting companies look beyond the , Americas for diversifying their client base, awareness and knowledge of PRINCE2® is gaining popularity. CPMG Inc.© 2014 8
- 9. PMBOK and PRICE2 Characteristics PMBOK At a macro level, PMBOK® Guide is a Body of Knowledge and PRINCE2® is a method for successful management of Projects. PMBOK® Guide is a highly descriptive comprehension of the PM Processes, Tools and Techniques. PMBOK® Guide defines the collection of knowledge, generally recognized as Best practices for managing Projects, which a Project Manager should know. PRINCE2 PRINCE2® takes a prescriptive approach for Project Management, complete with Templates, Roles and Responsibilities of multiple Stakeholders etc. In contrast to the PMBOK®, PRINCE2® is a process-driven PM method, which describes what the Project Manager and other major Stakeholders should know and should do in Projects. CPMG Inc.© 2014 9
- 10. PMBOK Guide vs PRICE2 Manual PMBOK® GUIDE (589 pages) Knowledge Areas Comparable PRINCE2® (327 pages) Processes & Themes Integration Combined Processes and Themes, Change Scope, Time, Cost Plans, Business Case, Progress Quality Quality, Change (Configuration Management) Risk Risk Communications Progress Human Resources, Stakeholder Mgmnt Organization (limited) Procurement Not Covered CPMG Inc.© 2014 10
- 11. What is PMBOK? PMBOK® is: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) Is the recognized standard of project management knowledge. Ensures your project management knowledge and frameworks are upto-date, and is the foundation for the profession. Provides guidelines, rules and characteristics for project management. This standard is widely accepted and, when consistently applied, help you, your global peers and your organization achieve professional excellence. As project management evolves, so do PMI's standards. It continues to expand and to keep improving the profession and providing the information you need. CPMG Inc.© 2014 11
- 12. The PMBOK Structure In its publication, the Project Management Institute (PMI®) says the PMBOK® is: A Guide intended to help practitioners recognize the general process of project management practice and the associated input and outputs, and techniques for its application. The PMBOK® Guide is neither a textbook, nor a step-bystep or ‘how-to’ type of reference. The PMBOK® Guide calls on the practitioner to apply a project management methodology (as a tool). CPMG Inc.© 2014 12
- 13. PMBOK knowledge for the Industry Project management is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of the particular project. Project management knowledge and practices are best described in terms of their component processes. These processes can be placed into 5 Process Groups 1. Initiating 2. Planning According to “A Guide to the Project 3. Executing Management Body of Knowledge” 4. Monitoring Project Management Institute (PMI®) & Controlling 5. Closing CPMG Inc.© 2014 13
- 14. The project Life Cycle (as per PMI) Process Groups 2: Planning 3: Executing 1: Initiating 4: Monitoring & Controlling 5: Closing CPMG Inc.© 2014
- 15. Disciplines of Project Management PMBOK Disciplines – 10 Knowledge Areas 1. Integration Management 2. Scope Management 3. Time Management 4. Cost Management 5. Quality Management 6. Human Resource Management 7. Communications Management 8. Risk Management 9. Procurement Management 10. Stakeholder Management CPMG Inc.© 2014 15
- 16. Major inclusions in PMBOK Guide The following are major inclusions in the PMBOK® Guide for the Project Manager in comparison to PRINCE2® Procurement Management (Contract Management) Team Management Cost Management and Earned Value Analysis Schedule Management Communications Management PMBOK is better for evolving an Organization specific methodology for managing Projects and as a guideline reference. “…this standard is a guide rather than a specific methodology. One can use different methodologies and tools (e.g., agile, waterfall, PRINCE2), to implement the PM framework” (Reference: PMBOK 5th Edition, Section 1.1) CPMG Inc.© 2014 16
- 17. PMBOK Process modei and approach Advantages Provides all round guidance and knowledge on project management Provides a complete step-by-step process on managing a project Guidance organized by Process groups and Knowledge areas Lists the tools and techniques that can be used in a specific process Knowledge on specific aspects of the project for Procurement and Quality Provides guidance on leadership, and other interpersonal skills Guidance on Reporting project costs such as EVM for effective reporting Guidance on the professional code of conduct of a project manager Limitations Outputs for processes described but little guidance on contents provided No guidance on project management team responsibilities No guidance on tailoring - how exactly to proceed and step by step approach No knowledge covered on the post project activity of ensuring the project was successful from benefits point of view Not enough details on the contents of plan and how they should be developed at varying levels of detail and by whom CPMG Inc.© 2014 17
- 18. What is PRINCE2? PRINCE2® is: A structured, process based project management method, endorsed as the industry standard by the UK Government. It stands for PRojects IN Controlled Environments. Helps you plan and control a project of any size around a structure of key activities, ensuring that the benefits of a project always outweigh the costs. In the UK and Europe, PRINCE2 is the project management methodology of choice, and is required by the UK government for all projects it commissions. CPMG Inc.© 2014 18
- 19. PRINCE2 Canadian Presence CPMG Inc.© 2014 19
- 20. The PRINCE2 Structure PRINCE2 ® does not claim to be as comprehensive as the PMBOK® Guide. PRINCE2® is a project management methodology and tool for practitioners. PRINCE2® extracts and focuses on key elements (Themes) which it identifies as being crucial to the successful assessment and completion of all projects. It contains a structured Process to tie those elements together to reduce overall project risk, with several useful techniques to support them. PRINCE2® Principles, Themes and Processes are consistent with the PMBOK® Guide, but PRINCE2® does not include all the knowledge areas and details specified in the PMBOK® Guide. CPMG Inc.© 2014 21
- 21. Major strengths of PRINCE2 The following is an overview of major strengths of PRINCE2® for the Project Manager in comparison to the PMBOK® Guide Continuing alignment to Business Case throughout the Project Lifecycle A clear delineation of Deliverables/Reports through Product Based Planning approach and focus on achieving them Well defined Roles and Responsibilities of multiple stakeholders/robust system of checks and controls Detailed guidelines for Change control / Configuration Management/Project documentation Uses tolerances in key areas such as risk, scope and quality Focus on Products, Principles and Lessons Learned Can be tailored and applied to any project regardless of project scale, type, organization, geography or culture. Offers a framework for facilitating individual Project success! “PRINCE2® is a very robust and comprehensive project management framework increasing project success” CPMG Inc.© 2014 22
- 22. Prince2 Process Model and Approach Advantages Offers the depth in project management practices (How to) Knowledge is organized around Principles, Processes & Themes Description and Templates of project management products are provided Tailoring approach and guidelines are provided Focus is on Products and other key principles Management by Exception allowing more focus on areas requiring attention Managing by Stages i.e. only one stage is committed at a time Emphasis is on Business case and in achieving the Benefits Detailed description on developing project documentations is provided Trainings and Exams are completed in 5 days – with less prerequisites Limitations Detailed techniques are not provided to plan and carry out project activities Leadership and People management skills are not covered in the method Little flexibility offered on adapting the best practices as it is more a method Little emphasis on guidance or development of Project Managers skill sets CPMG Inc.© 2014 23
- 23. Who is PRINCE2 for? Foundation Certification New and experienced project staff Ideal for those managing, or involved in, small to medium projects Suitable for Junior Project Managers Excellent introductory step for those interested in a career in Project Management Practitioner Certification New and experienced project staff Ideal for those managing small to large projects Suitable for Junior Project Managers, Project Administrators, PMO Coordinators, Experienced Project Managers, Project Directors, Executives Excellent next step for those interested in a career in Project Management, who already have their PRINCE2® Foundation qualification CPMG Inc.© 2014 25
- 24. The Major Comparative Points Major Points PMBOK® Guide PRINCE2® Approach to PM Largely Descriptive Quite Prescriptive - especially for Process interactions, but scalable Project Initiation Customer centric - Project Charter Business Case driven Empowerment for the Project Manager (PM) Need to consider Sponsor/Key stakeholders Project Ownership and Control by Senior Management above PM (Project Board/Executive) Adaptation/ Tailoring to specific Projects Is left to the PM- some Processes can be left out if needed All Processes need to be considered - but can be scaled - to meet Project specific requirements Controls/Checkpoints Are left to the PM to decide Multi level controls clearly laid out for progress reporting and tracking at various levels CPMG Inc.© 2014 26
- 25. PMBOK vs. PRINCE2 comparison PMBOK PRINCE2 Comprehensive information on all aspects of project management Practical project management methodology based on 7 principles Driven by customer requirements Driven by the business case A knowledge based approach to project management Process Based – defines the what, when, who, and how through a series of 7 management processes Describes core practices and a wider range of techniques that can be applied to manage a project A series of 7 management processes defining what must be done, when and how it must be done and by whom over the life of a project Non-prescriptive , best practices Prescriptive, but meant to be tailored by project Primarily the project manager's role Defines the roles of everyone involved in a project Project Board, PM, TM, PA, PS, etc. Procurement, HR management. More depth on Business case, product based planning, management techniques such as EVM, Critical Path, by exception, clarity in roles and authorities, project estimating, etc. assurance 2 levels of certifications: CAPM, PMP CPMG Inc.© 2014 3 levels : Foundation, Practitioner, Professional
- 26. Accredition – PMP vs PRINCE2 Item PMP Accreditation PRINCE2 Accreditation Governance PMI, USA APMG, UK Training Org Registered Education Providers (R.E.P) Authorized Training Organizations (ATO) Cert. Trainers Not required Entry Level Required CAPM (Certified Associate Project Management) Eligibility: 23 hrs. of Contact Training + 1500 hrs. of project PRINCE2 Foundation experience Eligibility: None PMP (Project Management Professional) Eligibility: 35 hrs. of Contact Training + 4500-7500 hrs. of Expert Level project experience Prerequisites PMI Application Approval PRINCE Practitioner Eligibility: None - Although PM experience is recommended Foundation level certified Open Book Yes for Practitioner exam No Exam Format Online or Computer Based - Monitored Paper Based – Monitored (Online available for Foundation exam) Conducted Prometric ATO on the last day of training Duration 4 hours Foundation: 1 hour – Practitioner: 2.5 hours Exam Pattern Multiple Choice Objective Type Scenario with 5 type of questions: Multiple choice, multiple response, matching, sequencing and assertion/reason # questions Pass % 200 questions PMP: 62.5% Foundation: 75 questions Practitioner exam: 8 questions with 10 sub-questions: 80 marks Foundation: 50%, Practitioner: 55% Results Immediate Foundation: Same day, Practitioner: 2-4 weeks wait Re-Cert. 60 PDUs in 3 years Re-registration exam (25 Questions) after 5 years PMP Handbook from www.PMI.org PRINCE2 Qualifications Scheme from http://www.apmginternational.com/ Exam Info
- 27. In Summary: PRINCE2 and PMBOK are complementary PMBOK provides the knowledge and PRINCE2 the how-to There are both a good foundation for “doing projects right” They both provide an internationally proven approach to implementing projects Are both built on a family of “Best Practices”; addressing all levels of organizational needs CPMG Inc.© 2014 30
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- 30. Thank you To discuss your next steps or for additional information, please contact: Jacques Ledoux, PMP PRINCE2, ITIL , Accredited & Certified Trainer jacques@capitalpmgroup.ca CPMG Inc.© 2014