Students can find Master of Business Administration (MBA) programs that offer a specialization in project management. This MBA track prepares individuals for project-related responsibilities in industries and organizations and can lead to managerial roles within business-related careers. Candidates for these programs require a bachelor's degree and may need to meet additional requirements for admission. Some programs offer online courses.
Coursework in a Master of Business Administration in Project Management program teaches students to use technology to achieve cost-effective results. Programs commonly cover timelines and business environments, and students learn to plan, monitor and adapt projects. By completing projects, individuals may also gain skills in motivating others, problem solving, directing projects and budgeting. Course topics often include:
- Cultural communication
- Corporate leadership
- Business law
- Marketing strategies
- International business
Popular Career Options
Graduates from an MBA program in project management are prepared for business-related careers, such as those in construction, information technology development or consulting. Individuals may find positions as:
- Program managers
- Project cost estimators
- Project procurement managers
- Project risk managers
- Project quality managers
Salary and Job Outlook
PayScale.com listed a median annual salary of $83,487 for program project managers in 2019. During the same month, the site reported a median yearly salary of $81,546 for procurement managers and stated that quality managers earned a median wage of $79,160 per year. The U.S. Bureau of Labor Statistics (BLS) reported in 2018 that cost estimators received a median income of $64,040 annually at that time, while financial managers, which includes risk managers, earned a median annual wage of $127,990.
The BLS projects that job opportunities for financial managers should increase by 16% from 2018-2028; during the same period, growth for cost estimators is expected to be 9%, due in part to continued expansion in the construction industry.
Individuals who want to continue their education in an area of business administration have two primary options. The first option is to pursue a Doctor of Business Administration (DBA) in an area of the field. DBA programs are designed to prepare individuals as business executives in the field while equipping them with research tools. The second option - a Ph.D. in Business Administration - is designed to prepare students for careers in academia and research.
An MBA with a specialization in project management can lead to numerous careers in management, procurement, cost estimation and finance. Students in these programs will learn essential information about the legal, financial and strategic aspects of project management.