Prince 2 Certification Cost: Investment for Better Project Management Career
What is Prince2? what is prince2 certification and how beneficial is it? Yes I know lots of questions in your mind, you will get all the answers you looking for. Read the article till the end to know the certification cost, training fees, types of certification, which one to choose, why to choose, and at last but not least what is the advantage of prince 2 certification. Let’s go without wasting a further moment.
Prince2 full form is Projects n Controlled Environment. It is a structured method of project management and practitioner certification program. It allows the projects to be divided into multiple stages. This division makes the stages more controllable. Leaders of organizations admit that it is easier to deal with small businesses effectively of products and services. Many Western European countries, Australia, and the UK have adopted the Prince2 model.
Why invest in Prince2 Certification
Many people are keen to understand why they need to invent on Prince2 certification. AXELOS has given the authority to Accredited Training Organizations (ATO) to determine the cost and fees of Prince2 certification. Prince2 certification is mandatory nowadays for acquiring a job in any organization. However, this certification gives people an edge over others. Now is the time to find out why we should invest in Prince2 certification. The reasons are as follows-
- Prince2 certified professionals are competent enough to handle projects more skillfully than their non-certified counterparts.
- An organization that hires Prince2 certified professionals has a consistent approach.
- It teaches the projects to have an organized beginning and to avoid common pitfalls associated with the projects.
- Prince2 certified professionals are guaranteed to get promoted before others.
- Prince2 certification brings about greater employee satisfaction.
- Prince2 certified professionals are more efficient.
- Prince2 certified professionals can expect a high salary.
- Prince2 certification guarantees promotion
- It is a globally accepted certification on project management.
Reasons to do Prince2 Training
- Knowledge of the Prince2 framework allows them to control the allotted resources effectively.
- Prince2 certified professionals may better adapt to the dynamic business environment.
- They methodically work on streamlined projects.
- They ensure that the projects led by them meet business requirements.
- They have a uniform and dependable.
- Prince2 qualified professionals receive job opportunities earlier than their non-certified counterparts.
- They have better career prospects.
- Prince2 certified professionals are offered better perks.
- Prince2 certified professionals are an asset to the organization.
Factors related to Prince2 certification cost
The cost of Prince2 certification is the result of a variety of factors. They are as follows-
- Level of certification
- Training & Training Methods
Now, let us discuss the causes individually-
Level of certification-
The Prince2 certification is divided into two levels-
The cost depends upon the level of certification.
In the Foundation level, the candidates are introduced to Prince2 principles, processes and themes. In this level, people also learn how to deliver the projects within a deadline, without exceeding the budget. Furthermore, it teaches candidates to manage risks and control problems.
A candidate who clears the Foundation level has to appear for the Practitioner level. In this level, the candidates learn how to address the needs of a particular project scenario. They need to apply the principles of Prince2 in a project. The cost of the Practitioner level is higher than that of Foundation level.
Aspiring candidates may either take the Prince2 certification exam at the end of the training course or study in private for all the levels—those who opt for the former need to approach an Accredited Training organization by AXELOS. Several institutes offer massive discounts to Prince2 aspirants. There is a separate cost for a bundle of Foundation and Practitioner costs. The flexible learning options may reduce the overall cost.
Training & Training Methods–
The Prince2 certification may cost approximately $1000. The average cost of Prince2 FoundationCourse ranges between $250 and $300. An online prince2 course may cost less than $200. The course duration is for a year.
The candidates need to undergo rigorous training, to appear for the Prince2 certification. The cost of training depends on the mode of training. The different types of training are as follows-
- Online learning
- Classroom learning
- Blended learning
- Virtual learning
The candidates need to select an ATO accredited center. Several non-accredited centers are available, but they are way less reliable than their accredited counterparts. The candidates may save a substantial amount by opting for the online classes. The classroom training is much more expensive in comparison. The online courses also save traveling expenses. Most of the working professionals opt for online training because it saves substantial finances. Also, several institutes offer the online Prince2 certification course at an incredibly low sum of $60.
Components of Prince2 certification cost
The prime components of Prince2 exam are as follows-
- Training cost
- Exam Cost
- Renewal cost
The cost differs from country to country. For example- the Prince2 Foundation exam costs more than 300 pounds in the UK if taken online. The classroom training costs more than 800 pounds. The same course costs more than 25 thousand rupees in India and 450 pounds upwards in Europe. A few of the costs are negotiable, while others are non-negotiable.
It is a good idea to look out for hidden costs while analyzing the cost of Prince2 foundation certification. A few project management training providers offer a complete Prince2 foundation exam bundle. It includes the cost of training., exam cost, sample papers, study materials, and videos. Some extra amount may be charged for taxes. Certain training providers include the cost of the Prince2 exam in the total charged amount. Others claim that the specified price is only for training and other resources.
Most organizations encourage employees to opt for online courses.
Before we explore the negotiable and non-negotiable costs, let us know the other components of Prince2 certification. They are as follows-
- Foundation Exam Fee
- Training fee
- Sample Exam Papers cost
- Study Guide
- Membership fee
People who opt for the Prince2 foundation certification online, their training component fee may be as low as $300. At this ridiculously low price, they get a bundle of Foundation Exam fee and exam fee. Classroom training may cost them somewhere around $1000.
Cost of Sample Exam Papers
It is necessary to appear for a few mock tests after the training is over. These mock tests will help the trainees understand the marking pattern, their weaknesses, and in which topics they are lagging. These mock tests are also known as sample exam papers. The paid mock test papers are available for a nominal price ranging between $50 and $75. A few practice tests are available. However, their accuracy is doubtful.
A few training providers include the cost of these mock tests in the total exam cost.
Prince2 membership cost
People need to pay any amount ranging between 50 pounds and 70 dollars for the Prince2 membership. They may have access to multiple resources while managing projects. They need to pay membership fees to access those resources.
The exam fee for Prince2 certification is not fixed. It depends upon the discretion of ATO accredited institutes. Manny training institutes refund the course fees if the candidates do not get Prince2 certified. The ATO provides the best deal at a reasonable price.
People need access to materials while preparing for Prince2 certification. The study guide is a compact material for it. A paperback edition of the study guide may cost 20 pounds. The soft copy (also known as the Kindle copy) may cost lesser. This cost differs from country to country as well.
The taxes are a part of the hidden cost. The breakdown of the costs includes certification fees +taxes. It is important to speak to the training instructor so that the candidates get a clear idea of the hidden costs.
The fees for suitable training providers are included in the Prince2 certification cost. The benefits of choosing a competent training provider are as follows-
They provide practical and conceptual knowledge about project management. The examples should be derived from real-life. The aspirants should be able to relate to the examples.
- Value-added aids for clearing the certification at the first attempt.
- Mock tests that resemble the real certification as closely as possible
- Flexible online classes
People who should think about the Prince2 certification cost
People should only consider the Prince2 certification cost if they think of appearing for it. This course will be beneficial for people of the following designations-
- Members of the project board
- Product delivery managers
- Project Assurance group members
7 principles of Prince2 certification
Prince2 certification has seven principles. This certification is valued as a result of these principles. People who understand these seven principles will understand why this certification burns a hole in the pocket. These seven principles need to be applied in the case of project management. They have the potential to make the project successful. The Seven principles of this Prince2 certification are as follows-
1. Constant Business justification-The business case is updated at every stage of a project to check its viability. If a project cannot be justified according to business needs, it may be terminated at an early stage. A business justification establishes mechanisms to judge whether a project will be viable and achievable.
Prince2 certified candidates need to justify every project as per business needs. The management will withdraw it if it fails to fulfil the business needs at any step.
2. Well defined responsibilities and roles- Every Prince2 certified professional shares different responsibilities of the same role. Alternately. Each of them shares multiple responsibilities. It demarcates accountability and pinpoints responsibility. The Project2 certification teaches people to structure the roles into four categories-
- Program management
- Team Level
- Project Management Level
- Project Board
3. Learn from experience- Prince2 certified professionals maintain a log of the lessons they learnt during each project. They should refer to the lesson log regularly. The purpose of maintaining the log is to implement improvements and avoid repeated errors. The log ensures they learn from experience. So, experienced Prince2 professionals are paid a higher salary. A common proverb says “Practise makes perfect.” It is applicable for experienced Prince2 certified employees. There is no doubt about the fact that Pince2 certification is expensive. However, the certification also needs to be backed up by knowledge to be of any practical use.
4. Manage according to each stage-Every project needs to be controlled stage-by-stage. People need to update the business case, take risks and plan out the next stage in details at each stage. Prince2 certified professionals may manage each stage with the utmost proficiency. Risk involves identifying, assessing and controlling uncertainty. So, stage-wise management increases the chances of success for a project. The members of project management teams communicate with each other. They discuss how and by when they will deliver it. They also discuss the potential changes, if any. There is a planned discussion about monitoring the actual progress against the targeted progress. The parents guide a newborn baby at each stage. Similarly, a project has to be treated like a newborn baby, that needs guidance in each stage.
5. Manage by exception-Prince2 certification delegates the established authority. This drawing a line helps people figure out when they draw an exception. Any exception to the designated authority or responsibility calls for attention and strict action.
6. Focuses on products- The Prince2 certification teaches people to define the quality requirements of a product. It also helps them determine when to deliver a product. Prince2 strengthens project management. The Prince2 certification charges a hefty sum. So, the institutes expect the employees to manage the projects professionally. The training is of an international platform. So, the end products of the projects are of a global standard. The aim of managing the projects is to create an impressive end-result.
7. Tailor-made to suit product environment- Prince2 is custom-made to suit the project environment. The project needs to be tailor-made and initiated at every stage.
Conclusion-Prince2 certification contributes a great deal to project management. This certification had originally started in the UK. However, AXELOS has owned this certification since 2013. Prince2 certification contributes to finished products and teaches people to handle resources efficiently. Vinsys offers a variety of training when it comes to project management along with Prince2 certification training with 20+ industry experienced trainers with pre and post-training assistance.
A small observation suggests that Prince2 certified candidates are appropriate for small projects. It teaches people to be organized and straightforward. A common proverb says, “Good things do not come cheap.” As a result, Prince2 certification cost is high. Many people tend to ignore this certification since it is not mandatory. On the other hand, when a Prince2 certified candidate speaks in board meetings, even the influential board members pause to listen.