Is the word prazo the same in Brazilian and European Portuguese?

Yes.

The word "prazo" is semantically, grammatically, and orthographically identical in both Brazilian and Continental Portuguese. It refers to a deadline, a period of time, or a fixed term. The only distinction between the two variants is pronunciation, specifically regarding vowel reduction and stress patterns characteristic of each region.

Brazilian Portuguese Examples

1. O prazo de entrega é muito curto. (The delivery deadline is very short.)
2. Você pode me dar um prazo maior? (Can you give me a longer deadline?)
3. O prazo de validade acabou ontem. (The expiration date ended yesterday.)
4. Não perca o prazo de inscrição. (Don't miss the registration deadline.)
5. O pagamento deve ser feito no prazo. (The payment must be made within the deadline.)

Continental Portuguese Examples

1. O prazo de entrega é muito curto. (The delivery deadline is very short.)
2. Poderia dar-me um prazo mais alargado? (Could you give me a more extended deadline?)
3. O prazo de validade expirou. (The expiration date has expired.)
4. Não se esqueça do prazo de inscrição. (Do not forget the registration deadline.)
5. O pagamento deve ser efetuado dentro do prazo. (The payment must be made within the deadline.)