by If you’ve been considering a specialized business degree for your future, you may have come across the MBA Project Management program. This is an intense degree program that can lead to a rewarding career in business.
But before signing up, it’s important to do your research and make sure that this program is the right one for you.
In this post, we’ll go over what MBA Project Management entails and what it could mean for your future career and will also go over some of the skills and knowledge you will take away from this degree.
What is MBA Project Management?
An MBA Project Management degree is an advanced business degree that focuses on managing projects.
Instead of learning about a certain aspect of business, such as marketing or finance, students will learn how to apply their learning to real-world situations.
This could mean helping a company with IT or marketing projects. It could mean leading a team to complete multiple projects in any area.
If you’ve ever dreamed of being the person who oversees the launch of an entire product or project line, this would be the perfect program for you.
And this degree could also become quite lucrative once you graduate. A Masters’s in Project Management can lead to many high-paying job openings.
What does an MBA Project Management degree involve?
Because of the focus on project management, students will learn a wide variety of skills to help them in their jobs after graduation. Specifically, they will learn:
Critical thinking skills: Students will apply and learn how to use logic and reason to analyze problems and make decisions.
They’ll also practice coming up with solutions for real-world problems. This is a key skill that MBA-PM graduates often find themselves using throughout their careers.
They’ll also practice coming up with solutions for real-world problems. This is a key skill that MBA-PM graduates often find themselves using throughout their careers.
Communication skills: In addition to more advanced writing skills, students will learn how to lead meetings and communicate with anyone at various levels of an organization. They’ll also learn how to create presentations, give speeches, and pitch ideas effectively.
Students will also learn leadership, persuasion, and public speaking skills to help them lead meetings with ease. They will also be able to create presentations, give speeches effectively in front of large crowds if needed for bigger projects or pitches on ideas they want the company’s approval on.
Planning skills are vital because having that ability is key when it comes time for their final exam.
MBA-PM (Masters Business Administration Project Management)
MBA PM graduates will also learn how to plan and take care of their time and manage budgets. They’ll practice using the Scrum methodology (more on that below) and need to demonstrate their ability to delegate tasks to others.
– MBA PM graduates will also learn how to plan and take care of their time as well as how to manage budgets. They’ll practice using the Scrum methodology and need to demonstrate their ability to delegate tasks to others.
People management skills –
Since this program requires special teamwork skills, students will hone those skills by learning how communication leads people toward solutions.
Managing personalities is one of the most important skills to have in any career.
With this skill, one can complete projects and be successful at their current job and after graduation into another field or life experience outside work.
The latest research has shown that personality types significantly impact how people cope with stress levels while working and achieve desired results during project completion timeframes for different tasks assigned to them by management. (who gave jobs based on personable traits within specific tasks teams/groups)
The students lead alongside others who specialize in certain areas, such as finance management versus creative arts-related roles. Differences are vital if team members hope to succeed without feeling like failures when deadlines come due.
Since this program requires special teamwork skills, students will hone those skills by learning how communication leads people toward solutions.
Working collaboratively with people of different personalities is a skill that can be useful for future careers.
A lot of jobs require teams to work together, so effectively communicating and collaborating will make you very marketable as an employee down the line.
Your personality may not align perfectly with everyone else on your team, which has its challenges; however, there are ways to compromise or work out differences in opinion respectfully.
This is a valuable skill that will help students succeed after they graduate.
Project Management Leadership Skills
Another vital skill is the ability to lead and direct others in the workplace. The classes cover group dynamics, including conflict resolution, as well as leadership styles and behavior. All this knowledge comes together when they can manage people and teams effectively.
What does an MBA Project Management degree look like?
The requirements for a project management online program vary depending on the school you choose to attend.
You’ll likely have to take classes specific to project management in addition to more general courses, such as business and marketing. Most schools offer a combination of classes.
What you’ll learn: Basics on project management such as defining roles, environments, and teams, problem definition, creating solutions, financial management. Basics on planning, budgeting, and scheduling.
Basics in project governance such as stakeholder management,
project requirements, risk management, communication,
change management and quality management.
What Is The Curriculum Like?
As mentioned above, different schools will require different courses for their students to complete.
Before signing up for an MBA- PM program, it’s best to look at a school’s website to find out the specific courses which they offer. Here are some common areas of focus:
Management skills: Many programs focus on the fundamentals of business by teaching students how to present ideas effectively and how to make decisions in a business setting.
Many programs focus on the fundamentals of business by teaching students how to present ideas effectively and how to make decisions in a business setting.
Project management and analysis: Project management is the foundation of project management, and students need to learn when they attend.
Some schools will focus just on project management, while others will also give lessons on analysis.
Some schools will focus just on project management, while others will also give lessons on analysis.
Financial management – Many courses teach students about financial planning, forecasting, decision analysis -budgeting, and more.
These classes teach students how to assess their daily decisions using a variety of techniques.
Where do you go for an online project management degree?
What you genuinely want out of your program will determine this. If you’re looking for an in-depth course with a professor attentive to each student’s needs, consider taking your course online.
However, if you’re looking for flexibility, choose a program that lets you take classes online or with a tutor to aid full-time working adults in keeping up with their studies.
What should I know about the cost?
Cost is an important factor to consider: what does it cost to get a degree in project management online?
A degree can cost upwards of $12,000 per year for most classes. However, schools offer a range of programs at different prices depending on where you live and which school/program it is.
Some charge more than others but we’ve found that the average tuition across all universities is around $12k annually.
Many colleges have their own unique setup for what they teach students to earn credits towards certain degrees or certificates; this includes whether class sizes are larger or smaller like 20-25 people versus just 5-10 people with an instructor (smaller).
With such variety from one college’s program offerings compared to anothers’, choosing your institution could be tricky because there isn’t any sort of universal ranking system between them.
The company is increasingly working with projects and teams worldwide in telecommunications, building, IT, entertainment, health, and defense. In order to manage complex projects for small to large firms, this online MBA concentrates on project management.
The curriculum focuses on best practices for project selection.The program is very hands-on and interactive, which will give you the opportunity to find out what it’s like in a real world project management environment.
You’ll get expert advice on how best practices come together for successful projects that are planned well from start to finish with great attention paid to risk assessment at every step of the way.
Examples-initiating, planning, implementing, and completing projects.
The students will study and learn practical applications of project management principles and team exercises with current industry software.
The online MBA Project Management program is designed to integrate the flexibility that professionals offer and is available to students around the clock.
This flexibility allows students to manage duties, meet family needs, maintain jobs and other external responsibilities, and access their classroom when they have more time.
The talent gap analysis commissioned by the PMI points to excellent opportunities for project managers in the eleven countries surveyed.
The employment labor statistics will grow by 8% between 2016 and 2026, equivalent to 807,000 new jobs. By 2027, the project management-oriented workforce in seven project-oriented sectors will grow by 3.3 percent or 2.2 million new jobs.
Job creation in project management has a positive growth rate, with the highest in the healthcare sector.
Bureau of Labor Statistics has found that enrollment in MBA programs is steep in incline, resulting in an expected increase in employment.
The Bureau Labor and Statistics (BLS) shows what many students know to be true: enrolling at top-tier institutions leads to higher job prospects post-graduation.
Based on these findings, there are plenty more opportunities for those considering studying abroad or pursuing their degree online through distance learning options.
The 2013 Hanover report salary profile shows that the average salary for project managers in Florida ranges from $88,000 to $101,000 in Georgia, well above the national average of $92,000.
A project manager’s responsibilities range from leading a team of experts to developing and implementing strategy. This person must take the initiative, make decisions quickly, operate in ambiguous environments while balancing multiple pressures.
A Project Manager can lead a program that trains people with quantitative skills.
Examples: Math or engineering and qualitative knowledge, such as understanding how things work together based on human behavior patterns, including finance, healthcare management/administration, among others.
These include project planning, risk management, time and cost management, contract and procurement, accounting, statistics, decision-making, and human resources.
Industries with different stakeholders require project managers to have sound basic knowledge and a considerable depth of skills and capabilities, which are developed through an MBA focusing on project management programs.
If you want to have a brighter future in terms of employment, then enrolling for an ACBSP accredited program is your best bet. These programs will equip and enable you with skills that can be applied across the board.
You want to be sure you’re paying for a program that will help you reach your goals. Make sure the tuition rates are considerations when looking at programs because it’s important to know how much they cost and whether they fit your career aspirations.
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Sources
Certificate in Project Management – UW Professional & Continuing Education
