If you want to make a career in project management and are at crossroads not knowing how to proceed, you must understand the Prince2 exam cost and how it will help you steer your career. Let us explore the cost, benefits, and prospects of Prince2 certification.
What is Prince2 Foundation Certification?
Since you are interested in a project management career, Prince2 Foundation and Practitioner Certification are important. Prince2 foundation exam is a much sought-after credential in project management. Who is behind this certification? What is its value? Axelos is the organization that advocated Prince2 foundation certification. Therefore, if you are interested in this certification, you need to be aware of the cost and what it entails.
Learn more in our Free Prince2 Training.
Who is Axelos and how is it the body that is responsible for the Prince2 exam? Prince2 started in the United Kingdom way back in 1975. Axelos is a joint venture between Capita Plc and the Cabinet Office of the United Kingdom Government. To have an unbiased, progressive method for project management, these two bodies felt an independent organization was essential. Therefore, Axelos came into existence to take care of the development, management, and continuous improvement of project management best practices.
Now that you know that Axelos manages the certification, let us analyze what is the exam cost and what are the components in the total certification cost.
What are the components of Prince2 cost?
When we discuss the Prince2 exam cost, the components involved are the exam cost, training cost, and renewal cost. Among the components in the cost of the exam, which are non-negotiable, and which are the ones having flexibility in terms of cost? Each one of us wants to save cost wherever possible while not compromising on quality and content.
Prince2 Cost components
Cost of Prince2 Foundation Exam
The critical portion of the cost is the exam fee for the Prince2 foundation. How much is this? Who determines the exam cost? You may say Axelos! But, Axelos to make the administration decentralized has enabled a few organizations to conduct the exams on its behalf. Therefore, Axelos has Accredited Training Organizations (ATOs) who are empowered by Axelos to define the fee for the exam and training.
Accredited Training Organizations are enabled through the Strategic Partner Scheme of Axelos. So, when you are choosing a training provider, look for an ATO who provides you the best combination of resources at the most competitive price. While the average price of the Prince2 foundation course range from $ 250- $ 350, you may also get an online Prince2 course at under $200 too with access for one complete year.
|Prince2 Foundation exam cost
|£ 300 upwards for online and £ 800 for classroom
|Au. Dollar 700 upward while classroom sessions are Au.Dollar 1500 and above
|₹ 25000 upwards
What to look out for?
When you are analyzing the cost, watch out for the hidden costs. Some project management training providers offer you a complete prince2 foundation bundle that includes training, sample papers, study material/videos (if online Prince2 course), and exam cost.
Check our Prince2 Foundation Training Video
Taxes and Duties
You also need to look out for the extra taxes and duties that you may have to pay. This can add up to quite a lot.
Since the ATOs are authorized by Axelos to conduct the exam, some of the training providers include the exam cost in the total cost while some say the price specified is only for the training and other resources.
Prince2 course online/ Prince2 Training
If you opt for a Prince2 course online, you save a substantial amount on the cost. While the Prince2 course Online for the Foundation level may cost you €450 upwards, the classroom session may cost €1000 upwards. Therefore, by choosing the right course, you can save close to €500. Based on the ATO and type of Prince2 training, you can expect some cost-saving.
Sample Exam Papers Cost
While there are some free practice tests available, you also need to look at the accuracy and alignment of these papers. If you are going for paid practice papers, you can get them anywhere between $50-$75. But, if you carefully review the training providers’ offerings, you may have the sample exams included in the cost you pay them.
Cost of Prince2 Membership
By becoming a member of Axelos, you get a multitude of benefits in maintaining your Prince2 certification and gaining it as well. There are many resources that are a great asset when managing Prince2 projects that you have access to as a member. Now the key question- how much is the cost of membership? You need to pay £ 50 or about $70 every year for being a member.
Cost of Prince2 Study Guide
Prince2 Study Guide is another component of the cost that you should consider for the overall cost. While a Kindle version or soft copy may cost lower, a paperback edition could cost you around £ 20. The cost varies from country to country as well. Therefore, when you want to cut down on the overall cost, think of the less expensive options. Better still, go for a Prince2 training online that has all these plus cheat sheets, flashcards, support, etc.
|Prince2 Study Guide
Now our next step is understanding the benefits and the steps involved in gaining the Prince2 foundation credential.
Benefits of Prince2 Foundation Exam and Certification
- The first and foremost plus is you are going to have a global certification in project management
- This definitely means better career prospects. What are the possible positions that you can aim for?
- Project Manager, Project Administrator, Project Director, Product Manager, etc.
- What salary can you expect? If you compare the cost with the benefits, your salary could range from £ 25000 to £ 70000 depending on the position. While you may start with the coordinator or the administrator role, you can rise up to a director position with Prince certifications
- Payscale statistics state that you can aspire for jobs in HSBC, The National Health Service, Price Waterhouse Coopers, etc. to name a few with salaries ranging from £24,399 to £68,014
- You also become adept at handling project delivery successfully becoming an invaluable asset to the organization as well.
- Peers and organizations recognize your expertise in project management and you will be sought after
- Knowledge of the Prince2 framework gives you the means to control your resources on the project effectively. On top of this, you will be able to effectively address risks and hence aid businesses more
- Axelos’s survey revealed that individuals feel that Prince2 Foundation & Practitioner Certification is an invaluable asset for them irrespective of their position.
- The survey also established that those with Prince2 Foundation Certification are better geared up for the fast-changing business environment.
Check our Prince2 Practitioner Training Video
Prince2 Foundation Level Certification Exam 2017
Recently Axelos has revamped the Prince2 foundation exam from the 2009 version which is called the Prince2 Foundation Level Certification Exam 2017. This exam is aligned with the revised ‘Managing Successful Projects with PRINCE2 publication’, 2017 edition.
- Time allotted: 1 hour
- The number of questions in the exam has: 60
- What is the score for passing? 55 (you need a minimum of 33 questions to be correct out of the 60 questions given in the exam)
- You can expect varied question types, and you will be given options for all questions from which you select the right one
- While you gain marks for a correct answer, your marks will not be cut if you answer wrongly. In a nutshell, no negative marking.
- You can refer to the Managing Successful Projects with the PRINCE2 publication, 2017 edition for the Prince2 Foundation Certification. Since the exam is not an open book, you cannot use it in the exam
- The various type of Questions that you can expect in the Prince2 Foundation & Prince2 practitioner exam are:
- The ‘Classic’ question has 4 answer options
- You may have to fill in a missing word
- You will be asked to pick the 2 correct statements from a given list of 4 statements.
You would also want to know the prerequisites for the Prince2 Foundation Certification exam when you have a complete picture of the cost. Are there any predefined Prince2 certification requirements? So, here are your answers!
Prince2 Certification Requirements for Foundation level
Typically, most exams specify the education and experience requirements. So what does Pricne2 Foundation level certification exam need you to have? The good news is there are no specific prerequisites for the Foundation level certification. As long as you have the zeal to make a career in project management, you can attempt this exam.
- In terms of Prince2 Certification Requirements, while nothing is mandatory, it is good to have a fair knowledge of managing projects. Hence, training is a component of the cost
How to gear up for your Prince2 Foundation Certification Exam?
Since you are equipped with information on the exam, cost, and benefits, your next step is to start working towards your goal of Prince2 Foundation Certification.
Let us look at the 5 steps to your Prince2 Foundation Credential:
- You begin by deciding on a Prince2 Foundation Certification training provider. How to do it? Let us discuss that in a while
- For the Prince2 Foundation Certification exams, Axelos authorizes the training providers to conduct the exam as well. So, when choosing, look out for that provision too so that you have a one-stop solution and manage the Prince2 exam cost-effectively.
- Next, you need to attend the Prince2 foundation course before you prepare for the exam.
- You need to have a comprehensive study plan that is like a beacon for your preparation
- Prepare for the exam. Go through the Prince2 Foundation Study Guide
- Ensure it has the examples which help you answer the practical application questions in the exam
- If you do not choose well, your cost will go up
- Do the sample tests, Practice
- The more practice tests you take, the closer you are to reaching your goal. You will be able to make all the corrections needed and appear for the exam more confidently.
- Now, you understand the gravity of the practice tests and hence it is part of the prince2 cost.
- Appear for the Prince2 Foundation Certification exam
- Your preparation, training, and the money that you spent will be paid off today, so preparation is the key to realizing your goal.
|Steps to Prince2 Foundation Certification exam
|1. Identify a Training Provider
|2. Attend the Prince2 course
|3. Prepare for the Prince2 Foundation Certification exam
|4. Take Practice Tests
|5. Take the Prince2 Foundation Certification exam
Selecting a good Prince2 Certification training provider
We have seen above that the primary component of the Prince2 exam cost is the training. Therefore, it is imperative that you make the right choice. What factors help in making the choice correct?
- Flexibility: Having a flexible course is a great advantage with the job responsibilities that an average professional has in project management.
- Expertise: Analyze the depth of knowledge that the trainer has. Know about the real-world experience he/she has on projects and Prince2.
- Resources: What does your training provider give you as part of the course material? Lectures? study guide, practice tests, and other tools? IF you do not get these, you know that these add to the cost
- Exam Cost: Is the cost of the Prince 2 Foundation level exam included in the training? Some include while a few others don’t. So look for the hidden costs that you may incur as part of the overall cost
- Content: Check whether the Prince2 training courses they offer are aligned as per the latest syllabus and revisions made by Axelos
Syllabus covered in Prince2 Foundation Exam
While attending training is not mandatory, it makes your preparation easier. We have seen what should be the characteristics of a good training provider. If you need to ensure that the cost is within budget, you have to also verify the content is in line with the requirements. What are the topics you need to know for the exam? What is the Prince2 syllabus?
For the Foundation exam you need to familiarize yourself with:
- The various roles, 7 principles, 7 themes, and the 7 Processes
- Understand the inputs and outputs of the 7 processes
- Insight into results of the 7 processes: management products. In addition to this, you need to know their interrelation in the overall framework
- Be aware of the processes, deliverables, roles, and management underlying the project framework and the intertwined nature of these
The syllabus should cover:
|Starting up a project
|Initialization of a project
|Roles and responsibilities
|The direction of a Project
|Learn from experience
|Controlling a stage
|Manage by exceptions
|Management of product delivery
|Manage by stages
|Management of stage boundaries
|Tailor to suit the environment
|Closure of a Project
|Focus on product
In summarizing, for understanding the Prince2 certification cost, we have explored the various components involved in it. Moreover, we have seen how the Prince2 exam cost can be reduced by opting for a course that is flexible, comprehensive, and gives you the best value for money.
Sunanda Gundavajhala, B.Tech, M.B.A, PMP has over 25 years of project management. She is a consultant, and trainer on project management for different sectors and is the recipient of the “Recognition of Excellence” award from PMI, USA, and the Woman Volunteer award from Hyderabad, India Chapter of PMI. Sunanda has contributed to the “Practice Standard on Scheduling, PMI”. She has worked as the Liaison officer for PMIEF (Education Foundation) for the Hyderabad, India Chapter of PMI.