Project Management Institute (PMI) defines project and project management as follows:
A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. The development of software for an improved business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market all are projects.
Project management, then, is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
Will scope of work after distance MBA in project management grow?
As the definition suggests, from building a bridge to expansion of sale, any critical initiative which has business or social outcome is a project. What promises to make such endeavors successful is the project management discipline. Project management discipline has large and ever increasing scope in various industry sectors. Especially construction, engineering, production, information technology and so on.
This project management is not limited only to the execution of core activities. Organization take up many strategic initiatives. Pilot project for innovation, studying customer behavior, trying a new technology implementation on-ground or even a research project are some examples. All such initiatives need a strong process to deliver the outcomes. Project Management process is one which holds such promise.
It helps steer the projects through hurdles and difficult times. Hence, it is not a surprise that demand for project management professionals is and would be ever increasing! Distance mba is one of the ways to grab such growing scope of work.
Why you would be in demand after distance mba Project Management?
There are many factors which fuel the demand for project management professionals.
Technological Change is rapid and difficult to manage
Globally, economic environment is changing very rapidly. Disruptive technologies like social, mobile, cloud, internet of things, block chain etc. etc. are moving at an unprecedented speed. Managing technological change is being pursued as one of the big risk. In such situations, to get return on investments, projects are to be executed with skilled management and required discipline. Skilled Project managers are required to manage such technological change.
Newer Sectors embracing Project management
The global economy has itself become kind of more project-oriented than ever. Project management practices are now being followed in the industries like healthcare, professional services, publishing etc. which are traditionally known for their less project-oriented approach.
According to the PMI talent gap report 2017, In USA alone project management jobs in Heathcare sector grew by 17%.
It would not be difficult for one to extrapolate and extend the same logic to Indian Healthcare.
Project Manager is becoming key between strategy- actions
Many high impact strategic initiatives fail. Primary reason cited is the loss of synchronization between the strategy and actions on ground. Many organizations are trying to plug this hole from strategy to execution. One of the key controller who can do this and join the dots effectively is a project manager. Hence more and more strategic initiatives are run as projects under able project managers. These project managers are able can deliver the promised business benefits in real sense.
Project Manager Salary
Salary of a Project manager depends upon his experience level, sector, location etc. However Project manager gets on an average 12 Lacs per anum based on the data at Payscale.com.
Career Growth and distance MBA in project management
As we are aware, project managers are required in each sector of industry. They are referred to with different designations in different industries. Sometimes project managers are called as planning mangers, engineering project manager etc. However, the core role remains the same. After successful completion of the distance MBA, you will get many opportunities. Typical growth path for a project manager career is shown below.
Leveraging opportunities in Project management with distance MBA
There are many ways in which one can become a project manager. Many a times, one ends up doing many tasks which are like project manager under the role name of project-coordinator or similar. Without formal education or training, one may be able to manage the project somehow. However, it is advisable to get formal training in project management processes and tools. In this way, you will be able to know the global best practices. You would be trained in advanced tools used in project management. With case studies you will be able to see how these learnings can be applied for real projects. Otherwise you may end up using the same tools and processes in suboptimal way. Project management may soon turn into nightmare with its increasing complexity. Education and training would minimize such risk and make your tasks easier to handle.
One of the good option to acquire skills in project management without leaving your existing job is to pursue distance mba in project management. Here you may continue to work and hone your skills on the ground by executing the project. At the same time, knowledge of practices in project management which you would learn in the formal training can be applied to make the project execution more efficient and effective.