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Home » PRINCE2®: Costs, Benefits and Where To Get One

PRINCE2®: Costs, Benefits and Where To Get One

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PRINCE2® is an international quality management certification given by the PRINCE2® Certification Board to ensure that organizations gain a deep sense of understanding of critical topics. It’s very costly and requires a lot of time, so it’s essential to do your research before you commit to getting certified.

More and more people are finding PRINCE2® methods useful for the projects they’re working on, so by 2027, there will be more than 22 million additional jobs in seven industry-related sectors.

What is the meaning of PRINCE2®?

PRINCE2® is a popular project management approach in the UK, Australia, and Europe. It divides projects into more miniature stages to manage resources and risks by dividing tasks into more miniature stages, establishing roles and responsibilities, and controlling the project life cycle through seven procedures.

PRINCE2® is a process-based project management method used by those seeking to deliver projects with great success. The PRINCE2® process is scalable and used in many UK government agencies and private and public sector agencies.

The origins of PRINCE2®

PRINCE2® was designed by the U.K. Office of Government Commerce (OGC) in 1989. It was adopted by a computer and telecommunications agency called Prince System until 1979, with the addition of Simpact Systems Ltd, originally creating Prince in 1975. In 1996, PRINCE2® , being the outcome of over 150 organizations across Europe, was published

AXELOS

The company that manages develops and improves best practices in various areas due to a joint venture between the cabinet office and Her Majesty’s Government in 2013. The company’s vision is always to provide best practices.

The Elements of PRINCE2®.

To understand why becoming PRINCE2® certified is so expensive, we first need to understand what PRINCE2® entails. PRINCE2® consists of 7 principles, processes, themes, and project environments. Whether your organization is large or small, utilizing the PRINCE2® methodology will help you manage projects more efficiently.

  1. The PRINCE2® manual – Managing project successfully with PRINCE2® 2017 edition.
  2. A certification scheme to help understand the Foundation and Practitioner levels.
  3. A Membership subscription facility.

PRINCE2® Certifications

Course NameOne TimeRetake CostPeoplecert GBP
PRINCE2® Foundation 6th Edition190GBP (INR 19500)210 GBP (INR 21500)295GBP (INR 28999)
PRINCE2® Practitioner 6th Edition190GBP (INR 19500)210 GBP (INR 21500)325GBP (INR 32000)
PRINCE2® Agile Foundation190GBP (INR 19500)210 GBP (INR 21500)295GBP (INR 28999)
PRINCE2® Agile Practioner190GBP (INR 19500)210 GBP (INR 21500)325GBP (INR 32000)

PRINCE2® is a methodology that helps organizations and projects run smoothly. People who complete training programs often find themselves more qualified in this field.

Knowledgewoods provides PRINCE2® certification training in:

PRINCE2® Foundation Certification

PRINCE2® Foundation is a standardized project management training that teaches people how to use structured project management methods. It is run by The PRINCE2® Foundation, which wants to ensure that its potential students are ready to be team members and understand terms and phrases related to project management.

Let’s understand how the PRINCE2® foundation course would benefit you.

  • Being an official PRINCE2® Practitioner gives you the power to help enterprises and organizations run better projects.
  • Helps you find out about the basic methodology and terminology of PRINCE2® method.

PRINCE2® Foundation Certification Requirements

  • The PRINCE2® certification is a foundation level. It’s easy to get started and there are no required prerequisite requirements.
  • To become a PRINCE2® Foundation level certified individual, it is preferable to have a basic knowledge of Managing Projects.

PRINCE2® Practitioner Certification

PRINCE2® Practitioner level certification is mainly targeted at senior managers, product managers, and analysts. How does the PRINCE2® practitioner course help you in your Foundation level course?

  • To meet the needs of your project, you can customize the principles.
  • You can take the PRINCE2® training course to gain more business experience.
  • Demonstrates how easy it is to implement projects using the PRINCE2® method.

The cost summary for a PRINCE2® Practitioner Certfication

Cost SegmentsCost
PRINCE2® Practitioner Certification Classroom/Online training costBased on location as mentioned above
PRINCE2® Practitioner Certification exam costExam cost is included in the training cost (applies to every location as mentioned above)
PRINCE2® Practitioner Certification exam renewal costIt should be renewed every 3 years in the following ways. You can either Retake the PRINCE2® Practitioner Exam before the expiry date   Record CPD points and a digital badge You need to buy MY PRINCE2® subscription for £50 + VAT every year, if you are choosing the CPD route.  

PRINCE2® Practitioner certification requirements

  1. PRINCE2® Foundation level certification
  2. Project Management Professional (PMP) or Certified Associate in Project Management (CAPM)
  3. IPMA Level A/B/C/D

PRINCE2® Certification Benefits

  • PRINCE2® is recommended for any project. It is a broad, high-level general framework of Project Management principles.
  • The PRINCE2® framework follows a highly standardised approach for Project Management.
  • The PRINCE2® method defines the roles and responsibilities of each project team member creating a clear outcome.
  • Helps in managing large projects by splitting them into smaller parts and having clear plans for each one.
  • It is both process and project focused.

Salary Prospects

Determining if the PRINCE2® certification is worth the time and cost for one’s company depends on benefits. The average salary of jobs that require a PRINCE2® certification can help determine the benefits of certification.

IndiaINR1,517,208
United KingdomGBP44,466

Types of PRINCE2® Training Courses

When investigating the types of PRINCE2® courses, there are two broad categories.

Many courses help a candidate study and pass the PRINCE2® exam. These courses generally require that you do a lot of work to understand the content. And in many cases, there is nobody else to answer your questions or clarify any doubts you might have about the course material.

On the other hand, there are research-backed institutions that run PRINCE2® courses often. These courses are valuable to the trainees, but they also provide value for their money because the teachers understand better.

These are complete courses that focus on people with a busy lifestyle. The courses offer all of the course content, prerecorded training materials, and the option of interacting with an instructor. There is no set schedule for the instructors to be available – they are only available during certain scheduled hours.

PRINCE2® courses have the advantage that you can change your mind and take a different path with the course. To better understand how the course is designed and how it’s meant to be used, you can read the material on-demand so that you’re able to fill in any gaps in your knowledge or understanding.

Self-Evaluation

A PRINCE2® certification course is a powerful tool for any project manager, where self-evaluation is viewed as an essential practice. We offer access to PRINCE2® certified materials, practice tests, and teacher consultations from our school.

Axelos provides a few samples to help students understand the PRINCE2® method better. These are useful for learning, but it is only one way of learning about the procedures. Having multiple practice papers would help us evaluate our knowledge and understanding of the PRINCE2® method and help us learn from our mistakes, and reinforce our understanding of the PRINCE2® methods.

The principles of PRINCE2® are applied throughout our daily life, and the application of PRINCE2® to our lives is one of the core values of PRINCE2® . Understanding these questions can help us broaden our scope and understanding of the method, even if it’s just a sample or practice paper.

PRINCE2® Certification Cost
CountryCurrencyCost
IndiaINR25,999
United KingdomGBP1,149
The components involved in the PRINCE2® certification cost are:

If you are interested in PRINCE2® certification, it is possible to find an online training course that costs under $300. You can get access to the entire course for a year in these. At the same time, some training providers offer for even under $60 if you want to finish within a month. The Foundation exam could be as low as under $60.

The price of classroom Prince training can vary based on the extent that the certification covers. In addition to this, consider the flexibility and course length and any bonuses your school offers. When researching for training, you need to consider how much it will cost you and what features it includes to make sure it’s worth it.

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