MBA in Project Management
In this never – stopping – world, all we need is a degree in a practical subject in order to become successful, a course that can really help us to live in the real world. MBA in Project Management is all about this. This course teaches the students to deal strategically and decisively with real-world problems. Not only this, by pursuing an MBA in Project Management, one can invest without having a second thought in her / his bright future . World–class universities offer this course and one can get the best jobs from all over the world gradually. This article will give complete information about MBA in Project Management . Read the full page to know more .
What is Project Management ?
Project Management is a very vast course and very appropriate in today‘s times . It deals not just with theory but also with practical aspects of life . It teaches the students the application of knowledge . It gives the students methods and skills to accomplish project objectives. There is not just Management but many other factors that have to be seriously considered like timescale and budget. Thus only the best professionals with management and technical skills are able to impart their knowledge and experience to their students.
Why an MBA in Project Management ?
An MBA program in Project Management teaches the basics of planning and developing well structured projects in details . These are to be scheduled in business environment . The students are given ample amount of opportunities to test their set of skills and understanding. Students can apply their knowledge in various projects that they can choose for themselves . They can also review projects and understand the influence of the stakeholder . In today’s world , an MBA in Project Management is basically a top choice . Enlisted below are some benefits of choosing MBA in Project Management . We hope that this will help you to facilitate your decision .
- Project managers are in high demand in almost all industries .
- They are recruited for the development of new technology and resources .
- One can hone her / his Project Management skills every day .
- People with the degree of MBA in Project Management are also required in industries like IT .
Subjects Included
There are a number of things that are taught to the students of Project Management . Concepts like financial planning , project life cycle and risk analysis are covered in various projects assigned to the students . You also get an opportunity to learn about various cultural issues affecting various projects and the methods to tackle these issues . Industrial exposure and personal training will allow you to assess planning of an organization . You can also form suggestions for improvements . The basic subjects that are covered in this course are –
| Resources Considerations in Projects | Project Quality Management | Case Studies in Project Management |
| Project Identification and Selection | CPM and PERT | Project Risk Management |
| Organizational Structure and Issues | Value Engineering | Project Termination |
| Project Planning | Project Performance Measurement and Evaluation | Purchasing and Contracting for Projects |
| Basics of Project Management | Project Execution and Control | Project Management Information System |
Criteria for Eligibility
There are very few conditions that one must fulfill in order to pursue MBA in Project Management . These requirements are similar to all the other MBA courses . You may go through the following points for a better understanding –
- A 3 or more years undergraduate degree in any discipline from a recognized university or institution .
- Some universities may require a work experience of 2 or 3 years in the related field .
- English Proficiency test scores like IELTS , TOEFL, PTE , etc.
- 2 Letters of Recommendation ( LORs ) of academic or professional background
- GMAT or GRE scores
Fees
The total fees range from INR 6,00,000 – INR 15,00,000 depending on the type of college one takes admission in.
Best Universities for MBA in Project Management
There are multiple universities from around the world that offer the course of MBA in Project Management . These courses help the students to organize and manage people and projects in different parts of the world . Students may pursue online or distance learning courses , full – time or even part – time MBA programs . World class universities provide a huge range of options for the students to make their choice from . Thus you must keep all the important factors in your mind and choose the college that suits you the best . Here is a list of some universities offering this course –
- Dublin Business School
- IPAG Business School
- ESCP Europe Business School
- Limkokwing University of Creative Technology
- Salem International University
- Lincoln University of Business and Management
- Luxembourg School of Business
- Imperial School of Management
Salary
The candidates get an average salary of INR 3,00,000 – INR 20,00,000 per annum, depending on the previous work experience and skills of the candidate.
Job Opportunities
India, being on the path of development, offers various lucrative jobs in the field of project management. With constant infrastructural, agricultural, industrial and various other government projects being executed.
Project executives can bag packages of Rs. 4 lakh to Rs. 7.5 lakh per year right after completing their MBA in Project Management. However, job opportunities also vary on the internships pursued by the students as well as the institute from which the course has been pursued. Experienced candidates who are hired for profiles like Project Manager and Project Quality Managers can get salaries up to Rs. 20 lakh (varies from organization to organization).
Here is a list of career options that you may have access to after completing your degree in MBA in Project Management –
| Database Administrator | Engineering Director | Project Analyst |
| Manager of Software Engineers | Computer Scientist | General Manager |
| Consultant | Project Planner | Project Quality Manager |
| Senior Project Manager | Project Manager | Program Manager |
| Director of Project Management Office | Project Risk Manager | Project Portfolio Manager |
FAQs
Q.1 Is an MBA a good choice for project management?
- An MBA in Project Management is a good choice if you want to pursue a career in project management.
Q.2 Which is better – an MBA or project management?
- MBA is a better choice if you want to specialize in business related field .
Q.3 Does one need an MBA to become a project manager ?
- No , it is not necessary but an MBA in Project Management is certainly a valuable degree since it covers all crucial topics like basics of planning .
Q.4 What is the duration of the course ?
- It is generally 2 years long .
Q.5 What is the average fee for the course?
A. It depends on the university and country. It is generally from 2 – 30 lakh rupees
