The rapidly globalizing economy calls for professionals with skills and expertise to successfully design and implement efficient business plans in real-time. An MBA in Project Management prepares a student with knowledge and understanding of how to act strategically and decisively in real-world situations. Moreover, with a lot of top global universities and colleges offering high-quality education and training programs, an MBA with an emphasis on Project Management can be worth pursuing. Here is all the information on MBA in Project Management.
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What is Project Management?
Project Management deals with the application of knowledge, processes, methodologies, skills and experience to accomplish the project objectives within the acceptable parameters. Also, the final deliverables have to be achieved in a provided timescale and budget unlike just ‘Management’ which is an ongoing process. This calls for professionals with management and technical skills along with good business awareness.
Here are a few reasons for pursuing MBA after BSc for a shining career!
Why Pursue an MBA in Project Management?
An MBA program in Project Management deals with the basics of critical project planning and developing well-structured project schedules in a business environment. Moreover, students are allowed to select projects, review projects and fundamentals to understand the influence of the stakeholder. A career in Project Management is considered to be a top choice in today’s world.Let’s explore the benefits of pursuing an MBA program in Project Management:
- Professionals in Project Management are employed with a range of skills to work in a variety of industries like IT, consultant etc.
- The course offers an opportunity to polish Project Management skills every single day.
- There is a fast growth with a specialization in Project Management.
- An MBA program in Project Management opens the door for alluring career opportunities.
- Project managers are highly in demand for the development of new technology and resources.
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An MBA in Project Management covers interactive project planning concepts like financial planning, project life cycle and risk analysis. You will study cross-cultural management in order to understand the cultural issues affecting the projects and ways to deal with them. Moreover, industrial exposure and training will allow you to inspect the project planning of an organisation and make suggestions for improvements. Below is a list of basic subjects covered in Project Management course:
|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|
Basic Eligibility Requirements
Candidates need to meet a few conditions to pursue MBA in Project Management. These requirements are very similar to any other MBA course. Read the following points to understand it better:
- A 3 or 4 years undergraduate degree or equivalent in any discipline from a recognised or accredited university or institution.
- Some universities require minimum work experience of 2 or 3 years in the related field.
- TOEFL, IELTS, PTE, Cambridge English
- 2 recommendation letters of academic or professional background.
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Top Universities and Colleges for MBA in Project Management
Various universities and college all across the world cover masters courses in Project Management for students to develop organisational and leadership skills to manage projects and people. There is a wide range of learning options for an MBA program like online/distance learning courses, full-time or part-time MBA programs. Here is a list of universities and colleges offering MBA in Project Management:
- London School of Business & Finance
- Lincoln University of Business and Management
- Luxembourg School of Business
- Imperial School of Management
- Columbia Southern University
- Gdansk University of Technology
- Dublin Business School
- IPAG Business School
- ESCP Europe Business School
- Limkokwing University of Creative Technology
- Salem International University
- University of New York in Prague
- Barcelona Executive Business School
MBA in Project Management: Job Prospects
After earning an MBA in Project Management there are endless career opportunities available for students with the knowledge and expertise of essential tools and methods of project planning. Below is a list of career options available for those with an 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|
Also Read: MBA Career Options
An MBA Project Management degree is a good choice if you want to go towards a career in project management. The course covers all the core topics related to business and management that is necessary for having a successful career. Moreover, many companies prefer a candidate with an MBA degree for a position as a project manager.
While both degrees are excellent for working in high level managerial and executive job positions, MBA is obviously the better choice if you want to have a broad specialization in business related fields, with greater career options open. But if you are sure of specializing in a specific field of business, you could go for a master’s in project management.
While an MBA may not be absolutely necessary for being a project manager, an MBA Project Management degree is certainly valuable since it covers vital topics such as project planning basics, managing multiple projects etc., which is of immense use for a project manager.
It is worth it to get an MBA if you are a graduate who is planning to work in business related fields, such as management. A candidate with an MBA degree has more career paths open for them and can have a greater chance of landing high paying jobs.
Some of the top colleges for MBA-Project Management degree are:
Luxembourg School Of Business
London School of Business & Finance
Barcelona Executive Business School (BEBS)
Lincoln University Of Business & Management
University of New York in Prague (UNYP)
Columbia Southern University
The average fee for an MBA – Project Management can range between 2-30 lakh rupees depending on the university and country of study.
A course in MBA – Project Management is generally of a duration of 2 years.
So, if you’re someone who wants to focus deeply on the details of hands-on project execution, an MBA in Project Management is the most suited career option for you. You can reach out to the experts of Leverage Edu, who can help you in choosing the best university for your field of interest.