Project managers are continuously in demand: regardless of the trade. The role of project managers is extremely vital to the success of a project. A project manager is accountable to handle the project from initiation to completion. A lot of typically than not, individuals value more highly to add a field that provides stability and growth. Project management provides many alternative advantages and maybe a necessary position for various kinds of industries.
No surprise why project management is one of the highest career selections for the millennial. We can clearly point out how today you can make a roaring career in project management, project management career path, career scopes & job prospects, and project management career salaries.
However, PMP certification training alone doesn’t give you a wide selection of skills necessary to manage advanced come or more and more various groups. Instead, a master’s degree in project management is the key to advancing your career, because it focuses on building the crucial project management skills you would like to thrive during this trade. These skills will embrace developing cultural awareness, managing social conflict, and leading remote groups, among others.
Why consider MS in Project Management?
1. You’ll learn project management skills in an exceedingly real-world setting.
A high-quality master of project management program can provide students multiple opportunities for experiential learning—such as co-ops or internships—which enable them to achieve real, active expertise and place their education to use.
Through these experiences, students acquire information and skills through observation and experimentation in an exceedingly skilled setting. This is often achieved by providing students the possibility to support organizations that will otherwise lack the resources to perform crucial tasks, together with price estimating, scheduling, and quality assurance.
Experiential learning additionally permits students to make their communication skills, particularly with executives and project sponsors who authorize a project to maneuver forward. This alone might build a master’s in project management worthwhile to some, as a PMP certification won’t address the nuances of social communication within the same manner.
2. You’ll establish key project management trends.
Today’s rising project management trends mirror the ever-changing nature of however organizations outline and organize groups. Teams might not be composed of ancient resources.
This digitization of the workforce needs new competencies among project managers, as well. As military science and repeatable processes resembling routine price estimation are machine-controlled, these professionals can have to be compelled to more and more use their soft skills to facilitate a team’s work. This needs developing a singular variety of skills, together with psychological feature flexibility, analytical savvy, and managing resource potency.
Leading a digitized workforce additionally need paying nearer attention to cultural dynamics. Project groups, just like the firms that use them, are more and more international, with staff primarily based in disparate locations and representing a range of cultural backgrounds.
3. You’ll be ready for a senior project management role.
A master’s degree in project management isn’t continuously needed for a job as a project manager; however, the necessity is changing into more and more common. Per a recent report from Burning Glass Labor Insight, 34% of project management job postings like or need a graduate degree additionally to requiring PMP certification.
What’s a lot of, a master’s degree will prepare you to require further project management responsibility at intervals in your organization and increase your earnings as a project manager. Parenthetically, with a graduate degree, you’ll get the chance to:
Take a job as a senior project manager. per a recent PMI survey of project management professionals, promotion to a lot of senior projects management roles is commonly amid an increase of a minimum of 10%. As an example, moving from a Project Manager II role to a Project Manager III role generally comes with a 13% raise.
Manage a bigger team. Project managers’ earnings increase as they combat the supplementary responsibility of managing larger project groups. A project manager who oversees a team of twenty or a lot of individuals earns approximately 8% over a project manager with a team of ten to fourteen people, per the PMI.
Manage a bigger project. the budget of a project will impact the earnings of the project manager overseeing that project. Larger homes tend to own larger groups and tend to be the next priority for a company. per the PMI, a project manager overseeing a project with a budget of over $10 million will expect to earn regarding 18% more than somebody overseeing a project with a budget of under $1 million, and 40% over somebody overseeing a project with a budget of under $100,000.
4. You’ll steel oneself against a project management role in an exceedingly specific field.
While several of the guiding principles of project management are applied to employment in any trade, there are bound business processes, laws, and best practices that apply to specific industries. As an example, construction and energy have specific laws concerning geographical point safety, care has strict protections in situ for the utilization of non-public health data, and data technology typically moves and changes direction at a far quicker pace than alternative industries.
One issue that produces a master’s degree in project management worthy is the ability to pick out a level within the field that you simply presently add or would love to transition into.
In masters in project management degree, as an example, students can select from a variety of concentrations to search out the choice that most closely fits their career interests and goals. These include:
- Agile Project Management
- Construction Management
- Organizational Communication
- Project Business Analysis
- Leading and Managing Technical comes
5. You’ll learn skills with sway on the far side project management.
Even if your career path eventually takes you in an exceedingly different direction, the abilities that you simply will learn throughout the pursuit of a master’s in project management can assist you in no matter the new role you’re taking. The key characteristics of an efficient project manager—which embrace organization, discipline, time management, and communication—are well-suited for any job in today’s changing world.