Differences and Similarities between PMBOK and PRINCE2

Running head: PROJECT MANAGEMENT
Project Management
Name of the Student
Name of the University
Author Note

Table of Contents
1. History:...................................................................................................................................2
2. PMBOK and PRINCE 2 differences:.....................................................................................2
3. Similarities:............................................................................................................................3
4. Methodology Chosen:............................................................................................................4
5. References:.............................................................................................................................5

1. History:
The origin of the PRINCE2 was in the year of 1975 and it was formalised by the
United Kingdom Government. This process of the project management was inspired by a
private sector framework. The PRINCE2 was actually derived from the PROMPT and this
was developed Simpact Systems Ltd (Matos and Lopes 2013). This PRINCE2 was officially
published in the year 1996 with about 150 European organizations. First major division of the
PMBOK was performed in 2009 following that second major revision was done in 2017.
In early versions the PMBOK guide was identified as the American National
Standards Institute or ANSI. The evolution of the PMBOK reflected in editions of the Guide.
Project management institute or the PMI first published this guide in 1996. Major changes in
the PMBOK was done in the third edition which was published in 2004 following that forth
edition published in 2008 and fifth edition published in 2013.
2. PMBOK and PRINCE 2 differences:
Some of the differences between the two methodologies are described in this context in
details:
PRINCE 2 PMBOK
PRINCE2 is best described as a
methodology framework
PMBOK is best described as a body of
knowledge with best practices for the
project management
PRINCE2 is more prescriptive than the
PMBOK
PMBOK is less prescriptive than the
PRINCE2
PRINCE2 is considered as process-oriented PMBOK is considered as knowledge-