Project & Operations Management

Project management is the practice of preparing, directing, encouraging, and managing resources to achieve specific goals within an organization. A project manager is an educated and trained professional who monitors an organization’s project from conception to completion. Their responsibilities include delegating various tasks to different employees; encouraging associates; ensuring the project stays within budget; implementing effective conflict resolution strategies when issues arise between associates; interacting with other managers regarding issues or concerns with the project; monitoring the project’s progress; designing new project guidelines; leading employees in accomplishing certain project tasks; and negotiating the contract with managers and outside parties.

Students who are interested in pursuing a career as a project manager must complete some type of formal education such as a bachelor’s or master’s degree in business, economics, or finance...Read More

Upon completion of a graduate degree program in project management, students must then gain on-the-job experience before acquiring professional work as a project manager. In addition to the education and experience requirements, there are certain skills and personality traits which are essential for success in this industry. These include exceptional interpersonal, leadership, management, organizational, problem-solving, time-management, and technical skills.

Project managers work in settings such as business firms, law firms, accounting firms, industrial companies, manufacturing companies, construction companies, engineering companies, and departments within the government. The employment rate for project managers is anticipated to increase 9% by the year 2020 (according to the U.S. Bureau of Labor Statistics).

Project Management Degree Levels Available

Bachelor’s Degree in Business

A bachelor’s degree in business takes approximately four years to complete and upon graduation, students have acquired a solid groundwork of knowledge, sufficient for professional employment in the project management field or for continuing onto a master’s program in project management. Fundamentals of project management, cost control, resource management, strategic project approaches, team leadership, organizational behavior, logistics organization, and economics are just a few of the subject areas covered within these four years. Those who aspire to become a project manager must continue onto the master’s degree in business, specializing in project management.

Master’s Degree in Business (M.B.A.) -

specializing in Project Management

During the master’s degree program in project management, students are introduced to and begin conducting research in the project management field. This two-year program requires students to work closely with a faculty member on a thesis, based on original research conducted by the student. Alongside the thesis work, students must take courses in areas such as microeconomics, macroeconomics, business principles, human resources management, information and networking systems, professional communications, and project quality management and maintain a high GPA. Nearing the end of the second year, students defend their thesis and are able to enter the workforce. After a few years working in the business industry and gaining on-the-job experience, students may acquire professional employment as a project manager.

Admission Requirements

For most colleges and universities, the admission requirements for a bachelor’s degree program in project management include a high school diploma or its academic equivalent (i.e., GED), a transcript from the high school the student graduated from, SAT or ACT test scores, and an application form from the college or university the student wishes to attend along with the application fee.

The application process for a master’s degree program in project management can be quite substantial. Colleges and universities usually have a list of requirements which include (but are not limited to): a bachelor’s degree in project management or a closely related field, a GPA of about 3.25 (on a 4.0 scale), test scores from the GMAT (Graduate Management Admission Test) which should be at or above the 80th percentile, a statement of purpose, a curriculum vitae, two or three reference letters written by faculty members who can vouch for the student, and an application form along with the application fee.

Tuition and Accreditation

There are numerous factors which affect college and university tuition fees such as public versus private institutions, distance education, government funding, etc. However, below are the average ranges of tuition fees for the two degrees. A bachelor’s degree in project management may vary from $ 15,918 to $ 32,617 in tuition fees. A master’s degree in project management may vary from $ 8,763 to $ 20,368 in tuition fees. (Source: the U.S. Department of Education, National Center for Education Statistics)

It is extremely important for students to attend an accredited institution. This tells employers that the applicant graduated from a college or university which provides high-quality education and adheres to certain academic standards. Students who obtain a bachelor’s degree or a master’s degree in project management should enroll in a college or university accredited by the AACSB (Association to Advance Collegiate Schools of Business).

Average Annual Salary Range for Project Managers

The average annual salary range for project managers is $ 95,650 to $ 115,650 (according to the U.S. Bureau of Labor Statistics). However, keep in mind that there are various aspects which determine an individual’s salary such as their level of education, the extent of their experience, their field of specialization, and who they are employed by. As a result, salaries for those from the same profession may vary from person to person.

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