PMI standard vs. PRINCE2 Method
The basic approach to project management: standard vs. method
When it comes to managing projects effectively, two prominent names often arise: PMI (Project Management Institute) and PRINCE2 (Projects IN Controlled Environments, version 2). While PMI’s standards provide a comprehensive framework defining what should be done in project management, PRINCE2 offers a detailed, step-by-step methodology explaining how to implement those practices. Both approaches are based on industry best practices, and understanding their similarities and differences can help organizations and project managers choose the most suitable method—or even combine elements of both.
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PMI: A Recognized global standard
PMI’s standards—most notably A Guide to the Project Management Body of Knowledge (PMBOK® Guide)—are recognized worldwide. Many standardization bodies have adopted PMI’s guides as their official project management standards. Even ISO 21500 owes part of its content (particularly Chapter 3 and its Glossary) to contributions from PMI.
Ten knowledge areas and 49 processes
PMI outlines ten knowledge areas and 49 processes, which are grouped into five process groups. While these are often referred to as “phases,” they represent logical groupings of project activities rather than strictly linear stages:
1. Initiating
2. Planning
3. Executing
4. Monitoring and Controlling
5. Closing
The ten knowledge areas within PMI’s framework are:
1. Project Integration Management
2. Project Scope Management
3. Project Schedule Management
4. Project Cost Management
5. Project Quality Management
6. Project Resource Management
7. Project Communications Management
8. Project Risk Management
9. Project Procurement Management
10. Project Stakeholder Management
In essence, PMI details what elements need to be managed throughout the project lifecycle—scope, schedule, cost, risk, etc.—and what key processes must be considered at each step.
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PRINCE2: A detailed methodology
While PMI focuses on what you need to accomplish in a project, PRINCE2 complements this by offering precise guidance on how to execute each step. Often regarded as a fully structured methodology, PRINCE2 provides templates, detailed role descriptions, and step-by-step processes, making it easier for project managers to implement.
Seven processes in PRINCE2
PRINCE2 defines seven processes, each further broken down into activities:
1. Starting up a project
2. Directing a project
3. Initiating a project
4. Controlling a stage
5. Managing product delivery
6. Managing a stage boundary
7. Closing a project
PRINCE2 themes
Alongside these processes, PRINCE2 employs seven themes that address key areas of project management. These themes remain relevant throughout all processes:
1. Business Case
2. Organization
3. Plans
4. Risk
5. Quality
6. Change
7. Progress
These themes ensure that every PRINCE2 project maintains a clear focus on why the project is necessary (Business Case), how work will be allocated (Organization), how plans are developed (Plans), how risks are managed (Risk), how quality is maintained (Quality), how changes are controlled (Change), and how progress is monitored (Progress).
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Aligning PMI and PRINCE2
Since both PMI and PRINCE2 derive from extensive global best practices, they share many common principles. Here are a few examples of how the process groups in PMI align with PRINCE2 processes:
• Initiating (PMI)
Starting up a project (PRINCE2) and part of Initiating a project (PRINCE2).
• Planning (PMI)
Reflected in PRINCE2 by parts of Initiating a project, Managing a stage boundary, and covered within the Plans theme.
• Executing (PMI)
Equivalent to Controlling a stage and Managing product delivery in PRINCE2.
• Monitoring and Controlling (PMI)
Largely correlates with Directing a project in PRINCE2, where monitoring and decision-making happen at a higher level.
• Closing (PMI)
Mirrors PRINCE2’s Closing a project process.
The same applies to the knowledge areas. For instance, Project Risk Management (PMI) aligns with PRINCE2’s Risk theme (and its Risk Management Approach), while Project Quality Management (PMI) aligns with PRINCE2’s Quality theme and Quality Management Approach.
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Making the choice—or combining approaches
Whether you choose PMI, PRINCE2, or integrate elements from both often depends on factors such as organizational requirements, regulatory environments, and the nature of the projects you manage. Some organizations find PMI’s knowledge areas and process groups offer enough flexibility to adapt to various project types. Others appreciate PRINCE2’s structured, detailed methodology and built-in templates. In many cases, combining the PMI standard with PRINCE2 methods creates a powerful, comprehensive framework—giving you both the strategic “what” and the tactical “how.”