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Is Online MBA In Project Management Worth It? Get All Your Answers Here

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Jagpreet

24 June, 2024

Is Online MBA In Project Management Worth It? Get All Your Answers Here

“Every project is an opportunity to learn, to figure out problems and challenges, to invent and reinvent.” – David Rockwell

Introduction To MBA Project Management Online

What is the first thing that comes to mind when you think about a project? Creativity, research and innovation? If you are close to these adjectives, you have the right essence for a project management role. Most projects require planning, setting deadlines, and being executed well. These are the basic requirements to complete and implement a project. If you have execution skills, perfect time framing, and problem-solving skills, you are the ideal match to work as a project manager for any industry, sector, or company you desire. An online MBA in project management is the perfect place to start your dream salary package and desired organisation . An online MBA in project management could be achieved while you work full-time, and you know what? That’s not the only benefit; there’s more in the bag of an online MBA in project management. Come along with us on the journey of innovations, excitement and hustle. Here is your go-to guide for an online MBA in project management.

Also Read: Thriving Career after Project Management

What Is Project Management?

According to Alan S. Gutterman (2023), Project management encompasses all the skills and tools necessary to work effectively. Project management is a tool for conducting and completing unique, one-of-a-kind projects or functions necessary for the execution of the strategy of a company without disrupting what would otherwise be the normal workflow embedded in the formal organisational structure.  In general, project management creates and imposes a temporary management system over the normal organisational structure in order to accomplish a specific task or activity.

Sounds complicated? Let us break it down into a simple and fun example:

Imagine you and your friends decide to build the ultimate treehouse—a multi-level hideaway complete with a rope bridge, a lookout tower, and even a zip line! This ambitious project will require some great project management skills to ensure that the treehouse is completed on time, follows a certain budget that you had, and meets your and others’ expectations. These executions are completed simultaneously by constantly implementing successful planning, skills, and execution. You would learn more about the right skills, planning, categories, strategies and more through an online MBA in Project management, making you an expert in managing projects like a pro!

Objectives Of Project Management

Project management focuses on four key objectives:

  • Scope: Defines what the project will deliver. Construction includes tasks like excavation, foundation, and brickwork based on blueprints.
  • Performance: Ensures the project meets the required standards and client expectations.
  • Time: Completing the project within the planned schedule is crucial for controlling costs.
  • Cost: Managed by balancing scope, performance, and time effectively.

Why Online MBA In Project Management?

Are you wondering why you should go for online MBA course in project management rather than a full-time MBA? If you are a working professional who wants to upgrade your job role, increase your payscale in 2 folds and discover the world, that is the ideal deal for you. But we are here to tell you more and better deals that an online MBA in project management holds. Here are more reasons to go for an online MBA in project management: the more, the merrier, right?

  • Flex Your Schedule: Take charge of when and where you study—it’s all about your rhythm and style!
  • Fresh Grad? No Problem!: Dive straight into mastering project management without needing any prior work experience.
  • Smart Savings: The online MBA in project management won’t break the bank! Plus, it unlocks scholarships for even more value.
  • Skills Galore: Master Time and Cost Management, Strategic Thinking, and Risk Management—the toolkit for project success.
  • Learn from the Pros: You get inspired by industry experts with engaging video lectures and hands-on simulations.
  • Connect and Conquer: Assemble Avengers! in virtual forums and group projects—build your network and skills simultaneously!

What Are The Eligibility Criteria For An MBA In Project Management (Online)?

Well, now that we have covered the basics of online MBA project management, from definition to benefits. It is time to test whether you are chosen for the online MBA projects. Don’t worry, this isn’t a test. Let’s look at the common eligibility for an MBA in project management (online). Please note this may vary based on each college/university’s preference for admission.

  • You must have completed a Bachelor’s degree in Project Management or a related field from a recognised institution.

  • Your undergraduate degree requires a minimum aggregate score of 50% (45% for reserved categories).

Skills Required For Online MBA In Project Management

Here are the essential skills required to be an excellent project manager at any high-end organisation or to be hired by top global organisations. Here are the top skills you need for an MBA in project management (online).

Communication Effective leadership skills
Project management Goal setting
Risk management Managerial effectiveness and ethics
Leadership Method
Quality management People skills
Analytical skills Problem-solving
Data analysis Automated planning and scheduling
Effective leadership skills Strategic planning

What Is The Course Fee For An MBA In Project Management (Online)?

We understand that not all of us can afford to break the bank for courses with fees beyond 101-5 lakhs. This is where an online MBA plays an important role. An online MBA in project management will be lighter on your pockets.

Online MBA project management fees range from just INR 80,000 to INR 2,50,000, depending on various factors such as resources, placement, location, library, student support, application fees, etc. This range is for many top colleges with active placements for you, including Amity Online, Manipal Online, and Dy Patil Online.

You can expect the application fees to range from INR 2,000 to INR 3,000.

That’s not it, in an online MBA, you get many benefits like other full-time courses. You can get many offers to do the online MBA in project management under your preferred budget.

There are options for:

  • Private & government scholarships

  • Fee waivers

  • EMI Payment Options

Syllabus & Curriculum for Online MBA In Project Management

Here is a closer look at what subjects you will be covering during your coursework:

Semester 1 Semester 2
Principles & Practices of Management Management Information System
Financial Management Human Resource Management
Business Communication Operations Management
Organisational Behaviour Marketing Management
Managerial Economics Strategic Management & Business Policy
Research Methodology Entrepreneurship Development
Management Accounting Environment Awareness and Disaster Management

 

Semester 3 Semester 4
IT in Projects Project Quality Management
Project Finance & Budgetary Control Quantitative Methods in Project Management
Fundamentals of Project Management Project Work Report
Business laws and Regulations Generic Elective-II (Soft Skill/ Business Ethics and Corporate Governance)
Project Planning and Scheduling Project Performance Measurement & Control
Generic Elective-I (Digital Marketing/ Business English)

These tables present the syllabus for each semester of the MBA programme in Project Management. Please note that the curriculum and syllabus may vary based on preference at each college/university.

Top Colleges For Online MBA In Project Management

College Name Fees Range (INR)
Amity University Online INR 1,95,000
Manipal University Online INR 1,75,000
IGNOU (Indira Gandhi National Open University) INR 2, 12, 440
DY Patil Online INR 1,59,200
Jain Online INR 1,89,000
Lovely Professional University Online INR 1,24,100

Please note that fees vary based on the specific programme, duration, and other factors. It’s advisable to contact the universities directly for the most accurate and up-to-date fee information.

Career Prospects & Job Opportunities

The career after completing an online MBA in project management is fruitful. It has diversified options, multiple choices and unlimited doors for you to knock on and discover. Whether you want to become a team leader and complete a successful project or drive strategic initiatives, your skills will be highly sought after. Industries such as Technology, Healthcare, Finance, Retail, Hospitality, Media and Entertainment, Education, Automotive, Real Estate, and Consumer Goods seek professionals skilled in precise project management. From overseeing operations and resources to steering business strategies, you can carve a niche in roles like Project Manager, Operations Manager, Business Analyst, and even Executive positions. As you gain experience and specialise, you will lead projects and shape organisational success.

Job Roles with Salary (INR)

Once you complete the journey and degree of an online MBA in Project Management, you can aim for high-paying roles. For example, as a Senior Project Manager, you could earn an average salary of INR 23.8 LPA, leading teams to project success. Progress to roles like Project Management Director with an average salary of INR 43 LPA or Head of Project Management Office (PMO) earning around INR 33.2 LPA. Explore opportunities as a Program Manager (average salary INR 22.5 LPA), Agile Project Manager (average salary INR 22.5 LPA), or Risk Management Specialist (average salary INR 8.7 LPA). Whether you prefer stable industries or dynamic startups, your Project Management expertise promises a fulfilling career.

Logging Out

This is your cup of tea if you can manage problem-solving and time-framing skills. The online MBA in project management is the ultimate bridge for anyone who wants to execute projects perfectly and implement life-changing features for others. The online MBA in project management has the option to broaden your skills while you are working as a full-time employee. You can now upgrade your degree, skills, paycheck and job role all at once through an online MBA. Check your eligibility today!

FAQs

Q1. What is an Online MBA in Project Management?

It’s a postgraduate programme focused on managing projects effectively, covering planning, execution, and leadership.

Q2. Is an Online MBA in Project Management worth it?

It provides valuable skills and flexibility, enhancing career prospects across various industries.

Q3. What jobs can you get with an Online MBA in Project Management?

You can pursue roles such as Senior Project Manager, Program Manager, and Risk Management Specialist in the technology, healthcare, and finance sectors.

Q4. What are the career benefits of an Online MBA in Project Management?

It offers higher-paying jobs, increased job security, and better leadership opportunities.

Q5. What skills will I gain from an Online MBA in Project Management?

You’ll gain project planning, risk management, leadership, strategic thinking, and communication skills.

The plagiarised part has been used as a reference for the quote and definition of project manager, I have linked the links for all.


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