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What Can You Do With a Project Management MBA?

Worldwide demand for project managers will mean 2.1 million new project management jobs in the United States between 2017 and 2027, according to the Project Management Institute. When you consider that poor project management is responsible for the wastage of $122 million out of every $1 billion invested nationwide, the need for qualified project management professionals becomes evident.

One way for working professionals to skill up for a career project management is by earning a specialized MBA. The University of Southern Indiana (USI) offers an online program that enables working professionals to earn an MBA with a concentration in Project Management without pausing their careers.

Opportunities Available in Many Industries

There is more good news. Project management jobs are available in many industries, according to The Balance Careers:

  • Large scale projects and the need to build housing and address infrastructure challenges make project managers indispensable in construction and engineering.
  • The drive to improve both the bottom line and customer satisfaction and retention has led to the growing importance of project managers in financial services.
  • Project managers are busy in the Information Technology (IT) field, from building artificial intelligence solutions to exploring better ways to manipulate big data.
  • Our healthcare system is under transformation, and project managers are involved in everything from building hospitals to streamlining health management processes.
  • Law is a relatively new area for the field, where project managers work with solicitors, lawyers and other specialists to make sure legal services are delivered efficiently and effectively.

Career Options Available

With high demand and jobs in many different industries, what project management jobs are available? PayScale lists several. Salary information is as of February 2020.

Project Managers plan projects, develop strategies, define goals and timelines, assign tasks, provide team direction and support, and manage the budget, timeline and resources for assigned projects. Average salary is $74k annually, with the low end at $48K and the high end at $112K.

Project Management Consultants work with clients to deliver business and technical solutions, analyze information and create reports. They troubleshoot projects and provide ideas and feedback to correct issues as well as create schedules for a project's completion. Average annual salary is $84K, with salaries on the low end at $53K and high of $134K.

Program Managers oversee big projects within a company. They train and manage staff, report on team progress, determine key milestones, and seek ways to improve their company's competitive position. Average salary is $82K annually, with a low reported of $51K and a high of $121K.

Senior Project Managers, Engineering oversee large-scale engineering projects, assess project deadlines, control expenditures, monitor productivity, quality and progress, and ensure project safety. They support and direct project managers, engineers and others in all phases of planning, scheduling, implementation of design and testing. Average annual salary is $114K, with a low reported of $84K and a high of $153K.

Project Management Directors lead the delivery team of project management professionals to ensure the project's scope, budget and schedules meet the organization's defined goals. They are held accountable for existing production and business performance. Average salary is $124K annually, with a low of $74K and a high of $170K.

With a total tuition cost of $12,900 for the entire program, the University of Southern Indiana online MBA with a concentration in Project Management offers an affordable solution for professionals seeking an advanced degree. Students take seven core courses and three concentration courses to complete the program in as few as 11 months.

Learn more about USI's online MBA program with a concentration in Project Management.


Sources:

ProjectManagement.net: What Jobs Can I Get With an MBA in Project Management?

Project Management Institute: The High Cost of Low Performance

Project Management Institute: Project Management: Job Growth and Talent Gap, 2017-2027

The Balance Careers: Top Industries Hiring Project Managers

PayScale: Project Manager

PayScale: Project Management Consultant

PayScale: Program Manager

PayScale: Project Management Director 

PayScale: Senior Project Manager, Engineering

PayScale: Project Management Director


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