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MBA in Project Management – Complete Guide 2024

mba in project management guide

In the 21st century, when one thinks of having a career with highly rewarding benefits, doing an MBA is one of the very first options that comes into mind. Master of Business Administration is one of the most pursued postgraduate degrees worldwide. With multiple specialisations that the programme offers, not only students but also working professionals like to be part of the programme to make their careers reach new heights.

Because the popularity of MBA has soared so much, online MBA has become as convenient and accessible as regular MBA. Whether for professionals working full-time or students not wanting to attend regular universities, an online MBA is the best option for a comprehensive management experience.

Project Management is one of the many specialisations that are offered in the two-year-long MBA programme. This is the perfect professional field for a person who likes to navigate through projects, set goals, and plan for achieving the goals and wants to gain expertise in the field.

MBA in Project Management: A Sea of Golden Chances

MBA in Project Management is not a thing of the future, rather it is a prosperous chance to build a career in the present times. Project Management is a growing field in the world today. Therefore, it is important for the management aspirants that they learn the skills and the knowledge to become a sought-after Project Management Professional.

An MBA in Project Management is a two-year postgraduate degree that focuses on teaching students about the skills of making detailed plans, leading projects, and accomplishing the goals and targets that a company prioritises the most.

For one who wishes to learn the nuances of handling projects, setting up goals, and learning skills and strategies to accomplish the set goals, MBA in Project Management is undoubtedly the best option for them.

Course Name MBA
Specialisation Project Management
Course Type Masters’ Programme
Eligibility – Graduate in any field with a minimum of 50% marks in aggregate from a recognised university (marks requirement may vary)
– Have qualified management entrance exams: XAT/CAT/CMAT/GMAT/GRE
– Have qualified institution’s personal entrance exam
Duration 2 Years

Project Management: A Versatile Working Field

As mentioned before, MBA in Project Management either through regular universities or online mode is very popular as it is a  highly demanded industry worldwide. Each organisation/industry undertakes several projects at the same time to achieve the goals and execute the plans in the particular business that is involved. This is exactly where the skills of project management come into play.

There are numerous fields that you can venture into after earning an MBA in Project Management. If pursued from a reputed university, there is no difference if you go for the regular mode or any online university. These are some of the fields that you can go for if you wish to make a career in Project Management, including:

  • Construction
  • Consulting
  • Financial service
  • Healthcare
  • Engineering
  • Marketing
  • Energy
  • Business Management
  • Information Technology

Standardised Curriculum for Project Management Learners

Semester I Semester II
Organisational Behaviour Human Resource Management
Statistics for Managers Financial Management
Management Theory and Practice Marketing Management
Accountancy for Managers Operations Management
Managerial Economics Research

 

Semester III Semester IV
Fundamentals of Project Management Quantitative Methods in Project Management
Project Planning and Scheduling Project Quality Management
Business laws and Regulations Generic Elective-II
Project Finance & Budgetary Control Project Work Report
Project Performance Measurement & Control
Generic Elective-I

Eligibility Criteria For MBA in Project Management

Most of the universities require the following eligibility criteria:

  • Graduate in any field with a minimum of 50% marks in aggregate from a recognised university
  • Valid score in any top MBA entrance exam such as CAT/MAT/GMAT/GRE/XAT or any other Management Aptitude Test

It is important to note here that the above-mentioned eligibility criteria is the general criteria that most universities follow. However, it may vary depending upon the university.

In addition to the above-mentioned conditions, some universities also require candidates to appear for a personal interview/group discussion/micro-presentation.

Entrance Exams for MBA in Project Management

Exam Name  Exam Date 
CAT 2023 26th November 2023
CMAT 2024 To be declared
XAT 2024 7th January 2024
MAT 2023 MAT PBT: 3 September 2023
MAT CBT: 17 September 2023
NMAT by GMAC 2023 To be declared
SNAP 2023 10 December 2023 – 22 December 2023

Programme Fee

The fee for the MBA Project Management programme ranges from INR 26,000 to INR 26,00,000. It varies depending upon multiple factors such as college, location, preferred mode of study, etc.

Average Pay Scale of Project Management Professionals in India

Professional Title Average Salary in  India
Project Manager

INR 9.4 lakhs

Project Scheduler

INR 6.8 lakhs

Cost Estimator

INR 5.1 lakhs

Quality Consultant

INR 7.4 lakhs

Project Director

INR 15 lakhs

Source: AmbitionBox

Doing MBA as Per Your Choice

The age of digitalisation has made it possible for people to pursue learning via an Internet connection and a screen. So there are different modes that an MBA aspirant can today choose from for getting their desired MBA degree.

  • Regular MBA:

    This is the old conventional style of doing an MBA. You will enrol in a university, attend the lectures and classes daily by attending the institution, and take exams offline, on campus.

  • Online MBA:

    A more flexible way of doing MBA. You can enrol, attend lectures, submit assignments and even take the exams through online mode. You do not need to go and attend the university. You can pursue the whole course from the comfort of your home.

  • Part-Time MBA:

    this mode of MBA is more suited for professionals who cannot devote much time to completing their MBA. In part-time MBA, classes are held either in the evenings or during the weekends so that professionals can find time to accommodate the requirements of completing the MBA. They can take 3 to 6 years to complete the degree, depending on how many classes they can take per semester.

How to Choose the Right MBA in Project Management College?

Finding the right college is one of the most important factors for ensuring success after your MBA in Project Management. Therefore, it is very important that you scrutinise all top colleges taking into consideration various parameters, such as:

  • Your Career Goals
  • Your Budget & Fee
  • Accreditations & Rankings of the College
  • Location of the University
  • Curriculum Offered
  • Placement Assistance Services Offered by the University
  • Networking Opportunities

Best Universities/Colleges to do MBA in Project Management

Top Institutes for a Full-time (regular) MBA

Sl# College/University Fees (INR)
1 BITM 10,62,000
2 Parul University 1,43,000
3 MIT-ADT Pune 5,23,000
4 PIBM, Pune 7,42,000
5 Praxis Business School 8,90,000

Top Institutes for an Online/Distance MBA

Sl# College/University Fees (INR)
1 DY Patil University 1,40,200
2 Chandigarh University 2,00,000
3 Jain University 1,70,000
4 Online Manipal 1,75,000
5 MIT Pune 70,000 (Indian Students)
$1800 (International Students)

FAQs

Q1. Is MBA in project management worth it?

Project Management is one of the most in-demand fields in the present time and an MBA degree is the best way to enter this field. The course will equip you with all the right knowledge and skills to succeed in this versatile field.

Q2. What is the scope of MBA in project management?

After an MBA in Project Management, you can work in different fields such as construction, energy, healthcare, etc. and take up diverse roles such as Project Manager, Project Director, etc.

Q3. What is the salary of MBA in project management?

After an MBA in Project Management, you can earn between INR 5 to 8 LPA. But this is an average figure. Your actual salary depends upon a number of factors such as your location, your overall experience, your skillset, your MBA college, etc.

Q4. Are there any specific prerequisite courses required for the program?

In order to pursue the course, you must fulfil the minimum eligibility conditions prescribed by the university which generally includes a graduation degree and qualifying management aptitude tests. For more information, you can refer to the eligibility section.

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