Does PRINCE2® Training Increase My Income?

Published: 14th February 2012
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Project management qualifications such as PRINCE2, PMP and APMP have risen greatly over the past 10 years. A great many project management employment advertisements specifically look for one or more of the above qualifying criteria. This review explores if the available information supports the case for qualifying measures when considering wages and business choices for the individual project manager.

Presently there are three most valuable categories of qualifications that have all grown fast as businesses internationally have actually embraced project management as an effective core skill that require specialised professionals making use of most beneficial practice solutions.

- Created in the uk by OGC
- Provides a methodical strategy to leading initiatives
- Project management working experience not essential
- PRINCE2 Foundation and Practitioner courses get ready people with regards to knowledge formulated assessments
- Related credentials consist of MSP programme management and MoR risk management

- The higher level qualification from the US Project Management Institute (PMI)
- Qualification necessitates a mix of proven expertise and also essential perception
- Great emphasis on enduring specialist progress

- The United Kingdom version of the Level D International Project Management Association (IPMA) certification
- Several nationwide skilled professional organisations offer up their very own different versions
- Part of a hierarchy of project management certificates

Although these qualifications exist all over the world, their own use will vary by locality. Research in 2009 by Mateusz Jasny looked at the regularity each qualifying measures was requested in job vacancies.
In the United Kingdom there has been a remarkably significant practice of PRINCE2. This has been brought about within the public sector, that has a tendency when it comes to Information technology initiatives. Even so, nowadays there are PRINCE2 Professionals being employed in pretty much every industry area within just about all kinds of job. The PRINCE2 Principles, Themes, and Processes will be general and therefore are very broadly acceptable.

One specific regular impartial questionnaire carried out for Arras People in the UK assists to monitor the embrace of PRINCE2 qualification and it’s correlation with income or possibly contractor working day rates. The 2011 survey indicated that over fifty percent of all project managers obtained a PRINCE2 official recognition - though about 27% presented no professional project qualification.

PRINCE2 training courses and certification has a positive effect on income though the result can be seen as somewhat small. Everyone must keep in mind that there is also a regular criticism from anyone trying to get employment opportunities in the United Kingdom that they may under no circumstances be even considered until they happen to be Authorised PRINCE2 Experts. The official recognition is now so commonly followed that this is a pre-condition for many employment opportunities - although is normally not a major differentiator.

Further prognosis by John Thorpe of Arras comes various conclusions concerning a number of less widely followed project accreditations. APMP teaching and accreditation is linked to the average wage uplift of £10,000.

Much the same facts can be found by examining information from IT Jobs Watch. They presently illustrate on average project management salaries in the IT sector around £50,000 per annum. PRINCE2 rates are at the exact same level. Job opportunities mentioning PMI are £60,000.

The conclusion that there are various accreditations for example PRINCE2 Practitioner which have come to be required for project management career development and that you will find other ones which will help identify an individual’s skill sets is not unpredictable.

In associated areas for instance It there has been regular reports which have confirmed significant advantages due to official certifications. An IDC White Paper states that:

- Certified individuals are far more employable: “Sixty-three percent of hiring professionals have faith that accredited individuals are way more positive than certain non-certified competitors.”
- 43% experienced a pay increase as a result of earning their Microsoft professional official recognition.

During 2008 the Consultative Committee for Professional Management Organisations (CCPMO) inspected its 50,000 members. They found that individuals who have skilled professional qualifications and memberships boost the chances of becoming employed by 9%.
Evaluating life-long take-home pay, folks who hold skilled professional certifications attain 37% more on average than their fellow workers who are not qualified.

There are advantages from certification to employers likewise.
Individuals are usually more productive plus work to unfailing standards

- A commonly used vocabulary plus method aids teamwork within and between organisations
- There is an independent standard of skills that can be aimed to organisational skills frameworks.

There is visibly motivation both for people and also companies to embrace skilled qualifications.

A current Gartner report stated “over the next 3 years project management will become one of the top five major strategic issues that most managers will have to address to be successful”. The onward goal of PRINCE2 and various other professional qualifications appears to be set up to continue strongly throughout the next ten years.

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