Students in Master of Project Management programs study the financial aspects of project management, such as cost calculation and estimating a project's value. Additionally, they learn about the human relations elements, like delegating tasks, motivating employees, and maintaining timelines. Over the course of these programs, students are expected to complete individual and group projects that demonstrate their knowledge.
It is important to note that project management can also be an area of concentration within a business program, such as a Master of Business Administration or a Master of Science in Management. To apply to any of these programs, students must have a bachelor's degree in business or a related field and submit a resume and letters of recommendation. In most cases, students must also submit GRE or GMAT scores, but this requirement may be waived if the applicant already possesses a master's degree.
Master's Degree in Project Management
Curricula may highlight various legal, logistical, and personnel obstacles that could arise during a project. Students often apply project management tools and resources to actual or simulated projects to determine their effectiveness. Possible course topics may include:
- Fundamentals of project management
- Resource management
- Strategic project approaches
- Electronic management tools
- Team leadership
- Logistics organization
Popular Career Options
Because project management is an essential skill in many industries, from construction to computers, graduates can find a variety of jobs. Often, individuals need experience in those industries before they may become project managers. Possible career options include:
- Project manager
- Information systems manager
- Quality analyst
- Sales manager
- Project management consultant
- Industrial production manager
- Chief scheduler
Employment Outlook and Salary Info
While specific salary and career outlook information is not readily available for all of the above jobs, the U.S. Bureau of Labor Statistics (BLS) indicates that computer and information systems managers saw a median income of $142,530 per year in 2018. The BLS also lists a median yearly wage for sales managers of $124,220 at that time.
PayScale.com stated in September 2019 that project management consultants earned median annual salaries of $83,735. The BLS lists job growth projections of 11% for computer and information systems managers and 5% for sales managers between the years 2018 and 2028.
Graduates may consider earning professional certifications through the Project Management Institute (PMI). This organization offers several certifications that include risk management and scheduling concentrations. To be eligible for the PMI certifications, individual must meet experience and education requirements. These requirements vary by certification level (www.pmi.org).
By earning a Master of Project Management or a related master's degree, students build the advanced organizational and problem-solving skills that are necessary to oversee the efficient completion of business projects. They can apply this training to management careers in any field.