Get information about Master of Business Administration (M.B.A.) degree programs in Project Management and their educational requirements, coursework, career choices, job and wage outlook, and continuing education choices.
Master of Business Administration (M.B.A.) Programs in Project Management
Schools offer master’s degrees in project management in the Master of Business Administration (M.B.A.) format, which includes a project management specialization. Program graduates are trained to assume project-related responsibilities in organizations and industries and perform managerial roles within business-related careers.
Admission criteria typically require incoming students to hold a bachelor’s degree and be proficient in specific subjects. They may also be required to submit Graduate Record Exam (GRE) or Graduate Management Admission Test (GMAT) scores. In some schools, incoming students may have to submit a resume.
Coursework is typically devised to impart instruction on the use of technology to achieve cost-effective results. Business environments and timelines are in the courses to make students adept at planning, monitoring and adapting projects. Through the completion of projects, individuals may learn how to motivate others, solve problems, direct projects and budget. Core coursework may cover topic areas such as:
Program graduates can seek business-related careers, including those in consulting, information technology development or construction. They may aspire for popular job positions such as:
•Project procurement managers
•Project quality managers
•Project cost estimators
•Project risk managers
Job and Wage Outlook
Over the 2012 – 2022 decade, a job growth of 9% has been predicted for financial managers. Over the same time-period, cost estimators are expected to see a 26% growth that is mainly attributed to the continual growth in the construction industry (U.S. Bureau of Labor Statistics). In 2014, program project managers brought in an average annual wage of $79,551. During the same time-period, procurement managers and quality managers earned $78,654 and $72,366 per annum on average. In 2013, cost estimators brought in an average annual wage of $59,460. During the same period, financial managers, including risk managers, earned $112,700 (BLS).
Continuing Education Choices
Program graduates may seek continued education by pursuing either a Doctor of Business Administration (D.B.A.) in the field or a Ph.D. in Business Administration. The first, which would arm students with research tools, can lead to careers as business executives, while the second could lead to careers in research or academia.