The differences between PMI and Axelos

PMI & Axelos Comparison demystified

This essay provides an overview of the PMI and Axelos, which examines the similarities and differences between them. There are two major project management certification bodies; these are Project Management Institute (PMI) with the Project Management Body of Knowledge (PMBOK), and Axelos owned by Office of Government Commerce (OGC), UK.

Definitions: Project

• According to PMI: A project is defined as temporary endeavor that has a defined beginning and end with defined scope and resources. It is unique in that is not a routine operation, but specified set of operations to achieve a singular goal. Projects are a means by which the strategy of the company is implemented.
• According to Axelos: A Project is a temporary for the organization that is created for the purpose of delivering one or more business products according to an agreed business case. Projects are means by which change management can be initiated whilst continuing business as usual.

Program

• According to PMI: Is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside scope of the discrete projects in the program.
• According to Axelos: A program is made up of specific set of related projects identified by an organization that together will deliver some defined objective, or set of objectives, for the organization to achieve outcomes and realize benefits of strategic importance to the business.

Portfolio

• According to PMI: A portfolio is all the projects for an organization created to meet their strategic business goals. This could be all the projects for an entire company or all the projects for a division or business in a large corporation. The portfolio level will handle, among other things, governance around the project life cycle, standards, a document repository, and a project portfolio tool.
• According to Axelos: A portfolio represents the totality of an organization’s investment or segment in the changes required to achieve its strategic objectives.

Project Management

• According to PMI: is the knowledge, skills, tools and techniques to wide range of activities in order to meet the requirements of certain project. PM are best described in 5 processes that includes Initiating, planning, executing, monitoring and controlling, and closing.
• According to Axelos: Project management encompasses quality management, control and organization of a project with consistency and review to align with project objectives. PM is best described in 4 processes which includes initiation, planning, execution and closure.

Program Management

• According to PMI: A group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside scope of the discrete projects in the program.
• According to Axelos: The action of carrying out the coordinated organization, direction and implementation of projects and transformation activities to achieve outcomes and realize benefits of strategic importance to the business.

Portfolio Management

• According to PMI: It refers to the centralized management of one or more project portfolios to achieve strategic objectives. To ensure that an organization can leverage its project selection and execution success.
• According to Axelos: It refers to a set of principles, techniques and practices to help organizations ensure their programs and projects contribute to strategic objectives and achieve maximum Return on investment (ROI).

AXELOS is a joint venture company, created in 2013 by the Cabinet Office on behalf of Her Majesty’s Government (HMG) in the United Kingdom and Capita plc, to manage, develop and grow the Global Best Practice portfolio. AXELOS is responsible for developing, enhancing and promoting a number of best practice methodologies in project, program and portfolio management, IT service management and cyber resilience.

Project Management Institute (PMI) is the world’s largest project management not for profit membership association, representing more than 600,000 practitioners in more than 185 countries. PMI advances the profession through its global standards and credentials, collaborative chapters, virtual communities, and academic research. PMI certification shows that you have the essential knowledge, experience and education to effectively contribute to project, strategic and organizational success.

Reasons to earn PMI and Axelos certifications

• Credibility: To provide fair and reliable way to validate your field of knowledge and professional experience.
• Transferability: PMI and Axelos certification can move and adapt with your career.
• Competitive advantage: To be more marketable to obtain salary increasing, recognition and career progress.
• Commitment: By earning PMI and Axelos certification, you continue to ensure your knowledge growth, skills and abilities.

PMI accreditation There are many training courses provided by Bakkah Inc. and certified by PMI that can be presented as the following:

1. CAPM®: Certified Associate in Project Management (CAPM®). The CAPM® training course recognizes a demonstrated understanding of the fundamental knowledge, processes and terminology as defined in the PMBOK® Guide that are needed for effective project management performance.
2. PMP®: Project Management Professional (PMP®) .The PMP® training course recognizes competence of an individual to perform in the role of a project manager, specifically experience in leading and directing projects.
3. PgMP®: Program Management Professional (PgMP®). The PgMP® training course recognizes demonstrated experience, skill and performance in the oversight of multiple, related projects that are aligned with organizational objectives.
4. PfMP®: Portfolio Management Professional (PfMP®). The PfMP® training course recognizes the advanced skill needed for the coordinated management of one or more portfolios of projects, programs, or operations to achieve organizational objectives.
5. PMI-ACP®: Project Management Institute Agile Certified Practitioner (PMI-ACP®) . the PMI-ACP® training course recognizes knowledge of agile principles, practices, and tools and techniques across agile methodologies, not simply limiting a practitioner to one agile approach.
6. PMI-RMP®: Risk Management Professional (RMP®). The training recognizes demonstrated knowledge and competency in the specialized area of assessing and identifying project risks along with plans to mitigate threats and capitalize on opportunities.
7. PMI-SP®: Scheduling Professional (PMI-SP®) The training recognizes demonstrated knowledge and competency in the specialized area of developing and maintaining the project schedule.

Axelos accreditation There are several training courses provided by Bakkah Inc. and certified by Axelos such as:

1. PRINCE2®: Projects IN Controlled Environments (PRINCE2®). It is structured process-based approach for effective project management It helps avoid project failure, reduce waste, increase productivity, boost efficiency, help you move into senior roles and complements other globally recognized approaches such as PMI and IPMA.
2. MSP®: Managing Successful Programs (MSP®) aims to help your organization design, plan and implement programs for projects that deliver outcomes and benefits to support change driven by corporate strategy.
3. P3O®: Portfolio, Program and Project Offices (P3O®) training course is to provide universally applicable guidance that will enable individuals and organizations to establish, develop and maintain appropriate business support structures.
4. PRINCE2®: provides further guidance on how to apply agile methods to the world’s most recognized project management method.
5. ITIL®: Information Technology Infrastructure Library (ITIL®). The course utilizes leading-edge IT capabilities to provide world-class services and maximize value. Employing IT service management best practices described in ITIL® to increase productivity, optimize costs and improve customer experience.
6. MoP®: Management of Portfolios (MoP®) provides senior executives and practitioners, who have responsibility for planning and implementing portfolios of change, with a set of principles, techniques and practices to introduce or re-energize portfolio management.
7. MoV®: Management of Value (MoV®). Is aimed at all those involved in directing, managing, supporting and delivering portfolios, programs and projects. It is about maximizing value in line with the program and project objectives and the key stakeholder requirements.Summary

PMI and Axelos do not compete but they complement each other and both are recognized internationally as a family of best practice that address all levels of organization needs. PMI provides what knowledge should you know and Axelos provides the how-to apply this knowledge. Both practices provide the foundation for doing projects right.

Choose your own path. Whatever you prefer to study, Bakkah Learning has the right course for you.

Register in one of the PMI or Axelos Courses organized by Bakkah

1. PMP Training
2. PRINCE2 Training