Master 21st Century Project Management skills with distance MBA

Master 21st Century Project Management skills with distance MBA

We are living in the world of change. There is buzz about new disruptive technologies like social, cloud, mobile computing, internet of Things, Big Data, Analytics are and so on. All of these have challenged the existing way of doing business. Therefor 21st Century needs more innovative ways.

In 21st Century, companies have to invent new business models. Simply put a business model means way of generating revenue. Companies have to find new ways of doing business by making friends with these advanced technologies. They are affecting every sector starting from construction, healthcare, finance, banking, and the list is endless. Now management of these projects would demand a completely new set of skills. As a natural consequence, distance MBA in project management should focus on these skills sets.

Project Management and hence the distance MBA in Demand

Demand for project management professionals is increasing as there are no enough qualified and skilled project managers. Every career growth aspirant like you wants to capitalize on such opportunities. As a result of this demand for distance project management courses is growing.

The gap between demand and supply of project managers is growing and will continue to grow for coming years due to following reasons.

  • Number of jobs which require project management skills are on the rise
  • Attrition rates of project management professionals are high
  • In rapidly developing countries like India and China the demand for qualified project managers is increasing
  • Project management role has become more strategic
  • Projects are becoming more complex with multiple technologies
  • Innovation is becoming the key for the taking the business to the next level
  • Practice of project management is now expanding to sectors like healthcare, publishing etc.
  • Some specific sectors like manufacturing and construction, information services and publishing, Finance and insurance, Utilities etc. have more demand for project management professionals

On an annualized basis, employers will need to fill nearly 2.2 MILLION project-oriented roles each year through 2027 – according to PMI’s job growth and talent gap report.

Key Knowledge and Skills a distance MBA in Project Management should focus

Any project has four important phases namely project initiation, project planning, project execution and project closure. Let us understand what knowledge and skills are needed to be successful in each phase. Exactly these skills would be focus on any distance project management program.

Project Initiation

Project is defined at a broad level. Usually, there is a business case behind starting any project. Business case is document of justification stating various things like anticipated business benefits, estimation of costs of undertaking a project, the risks involved. Project Manager should be aware of the business case and what is the strategic importance of this project in the overall organization context.

 

Activities

 

Skills and Knowledge

· Doing stakeholder analysis.

· Creating project charter.

 

 

· Process of stake holder analysis

· Creating project charter which includes vision, mission, purpose, objectives, high level requirements etc.

Project Planning

In this phase project scope is finalized and based on it, a project plan is created. Project plan would include aspects like timeline, costs, resources required, risks involved and quality to be delivered.

Activities 

Skills and Knowledge

· Plan and define scope

· Create project plan

· Developing schedules and timelines

· Create resource plan

· Create finance plan: cost, budget etc.

· Create quality management plan

· Create risk management plan

· Create procurement plan

· Create supplier contracts

· Create plan for communication

 

· Planning and estimating

· Understanding of resource management

· Time estimation techniques

· Understanding of financial plans, costs and budgets

· Risk analysis, Risk management

· Liaising with Vendors

· Developing Effective communication plan

Project Execution

In this phase the deliverables are created. Project manager monitors the project based on the created project plan, timelines and budgets and costs.

Activities 

Skills and Knowledge

· Track project plan

· Track schedules and timelines

· Track resource plan

· Track finance plan: cost, budget etc.

· Control quality

· Track risk management plan

· Change Management

· Planning and estimating

· Creation of key parameters to review and track

· Understanding of resource management

· Time estimation techniques

· Understanding of financial plans, costs and budgets

· Risk analysis, Risk management

· Liaising with Vendors

· Developing Effective communication plan

Project Closure

This phase is done when execution is complete. Here post mortem of the project is done to learn what went well and what needs further improvement.

Activities 

Skills and Knowledge

· Assess project performance

· Document project best practices and lessons learned

 

 

 

· Postmortem of project performance

· Identifying best practices and areas of improvements

As seen from above phases, project manager needs to master multitude of skills. He is the one, who leads the project team and ensures that results are delivered.

Now-a-days, every project contains hundreds of cross-functional activities, fast changing and innovative technologies and impatient customers. It is only the Project manager who can tie objectives of all the stakeholders and lead the project to success irrespective of all odds.

Distance Project Management Program can create the Superman

A distance project Management program can create one of those ‘superman’ or ‘superwoman’ called Project Manager. He/she would take your ship to the other shore safely. Technologies and innovations are taking the businesses to new heights. Along with it, project management methodologies and techniques are also evolving. Mastering all these critical skills of project planning, risk management, resource planning, controlling project execution etc. are very vital to elevate oneself to a successful project management role.

If you are a fresh graduate or entrepreneur or an experienced working professional, distance project management program can be your next stepping stone to take your career to the next higher orbit.

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