Difference between ITIL and PRINCE2

1. Information Technology Infrastructure Library (ITIL) :

ITIL stands for Information Technology Infrastructure Library. It is a structure which are designed for systematizing the processing, strategy, continuity, organizing, distribution whatever the factors that are responsible in an IT sector in relating for a good business. ITIL process was introduced in the year 1980s the government of UK, Central Computer and Telecommunications Agency (CCTA) they decided to design this framework for developing IT sector standard. It was later modified during the different time period. 

• In 1989 the ITIL version1 was released by the organization named Government Information Technology Infrastructure Management (GTIM). Further in the year 2001, the CCTA was combined with Office of Government Commerce (OGC) and version2 was updated in 2006.
• After that Version3 was introduced in 2007 in which it acquires 26 processes and functions in a group of 5 volumes structured according to the Service lifecycle framework and it was renamed as ITIL 2007 Edition.
• Afterwards the OGC was detached with CCTC and then the final Edition4 of ITIL was introduced in February 18, 2019.

Pros of ITIL :

• Well-built partnership between Business and IT sector.
• Modified service provided with delivery and customer needs.
• Minimizes its amount by implementing better components.
• Better administration of business possibilities and service in success or failure.
• Further constant service era to support continuous business interchange.

Cons of ITIL :

• ITIL framework are in more demand throughout the business and IT sector due to which excessive use may lead to pay higher in costs.
• As Version2 only concentrates only in production and support for regular processing which are easily understandable, whereas Version3 focuses on the entire processes and those are difficult to understand.
• The ITIL guide books are more expensive which are not convenient for the uncommercial end user.
• ITIL requires proper technique of understanding the whole process for implementation.
• The rollouts consume more time and money as per expected.

2. Projects In Controlled Environments (PRINCE2) :

Prince2 stands for Projects In Controlled Environments, it is a project management process and an interpreter approval program. Prince2 was initiated in the year 1989 by CCTA and Prince2 is the adopted version of PROMPT II, the UK government changed the previous name PROMT II and then it was named as PRINCE during Civil service competition. At first it was PRINCE then it was modified and named as PRINCE II as an upgraded version which was released in the year 1996 as a collective project management process.  

Pros of Prince2 :

• The whole structure of PRINCE2 is very resilient so that it can work with any type of projects.
• For advance transmissions and liability in a project, PRINCE2 is more recommended.
• It concentrates more on the outcomes and proceeds for further progress and keep targets on getting the achievements.
• It provides a clear method for customizing all the projects by giving a clear scenario of the structure.
• PRINCE2 helps in increasing the product quality.

Cons of Prince2 :

• The changed projects are quite not easy to cooperate.
• Sometimes it consumes more time.
• It faces lots of difficulties in modern type projects.
• For lots of documentations part PRINCE2 is not recommended.
• In every stage it requires to maintain each and every document and also required to be updated.

Difference between  ITIL and PRINCE2 :

S.NO	ITIL	PRINCE2
01.	ITIL stands for Information Technology Infrastructure library.	It stands for Projects In a Control Environment.
02.	This infrastructure is based on service management process.	This infrastructure is based on project management process.
03.	ITIL is a long-term based service.	PRINCE2 is always in public demand for business purpose and most recommendable.
04.	It focuses on supporting and maintenance area.	It doesn’t concentrate on support area it only focuses on the final outcome.
05.	ITIL doesn’t require any training to avail the projects.	PRINCE2 requires lots of training to avail the projects.
06.	The tools used are ServiceNow, BMC Remedy, Cherwell, Spiceworks, Symantec etc.	The tools used are Flowchart, Force Field Analysis, Gantt Chart, Matrix Diagram, PDCA, PDPC, etc.