Project management is the use of specific knowledge, skills, tools and techniques to deliver something of value to people. The development of software for an improved business process, the construction of a building, the relief effort after a natural disaster, the expansion of sales into a new geographic market—these are all examples of projects.
Every aspect of every professional role can be considered part of project management and/or its implementation. In order to acquire the skills necessary for a successful future, it is therefore important to invest in training and professional development.
There are many methods and certifications in the world of project management, but among these today we will hightlight PM² and PRINCE2®. We very often receive questions about the difference between the two certifications, so we decided to give you all the information by comparing the most important elements of both.
What is PM²?
PM² stands for Project Management Methodology. Its purpose is to enable Project Managers to deliver solutions and benefits to their organisations by effectively managing the entire lifecycle of their projects.
The PM² Methodology was developed in 2007 and the first version was published internally within the European Commission in 2008. Since 2018, the methodology is open to all.
- A Project Governance Structure
- Process Guidelines
- Artefact Templates
- Guidelines for using the Artefacts
- A Set of Effective Mindsets
The PM² Methodology is light and easy-to-implement and is characterised by:
- Its EU-focus
- Practical templates and tools freely available
- Inexpensive open-source material and a lifetime certification
- Evolutive domains and tools
What is PRINCE2?
PRINCE2 is an integrated project management method that provides a set of processes applicable to the management of a project from start to finish. PRINCE2 is product-based and provides a model of what needs to be done, who needs to do it, and when it needs to be finished. Every project starts with a project plan, each stage of the project is clearly structured. It provides a common language across a project and provides breakpoints within a contractual framework.
PRINCE2 can guide professionals and organisations through the essentials for managing successful projects, regardless of type or scale. It provides a framework that focuses on organisation and control throughout the entire project.
PRINCE2 was developed by the UK Office of Government Commerce (OGC) in 1996 and is a registered trademark of Axelos. The current version is the PRINCE2 6th Edition.
The Differences between PM² and PRINCE2
Both PRINCE2 and PM² are applying several Project Management Best Practices that project teams can tailor to their specific needs.
The PM² Methodology Guide has created the House of PM² which covers Best Practices for project items such as:
These 4 pillars are held together by the PM² Mindsets: