Online MBA in Project Management 2021

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Project managers plan and oversee the timely completion of business projects. They prepare budgets, allocate resources, and monitor the project from start to finish. These managers begin their careers with a bachelor’s degree in business, project management, or a related field. Many pursue an MBA in project management degree to enhance their career prospects or enter the job market with advanced skills.

An MBA in project management produces experts knowledgeable about business operations. Alumni possess specialized project management skills employers need to optimize business processes. Graduates enter a job market with good employment prospects. Project management specialists earn a $77,420 median wage, according to the Bureau of Labor Statistics (BLS).

This guide provides a ranking of the top online MBA in project management degrees. It also explores required coursework, job and salary outlook, certifications, and scholarship opportunities for students.

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Top 10 Online MBA in Project Management Programs

MBA Students FAQs About Project Management

  • Why is project management relevant for an MBA?

    An MBA prepares business managers with expertise in areas such as accounting and finance. Project managers blend this experience with project management skills to efficiently produce goods and services.

  • What jobs can I get with an MBA in project management?

    Graduates assume roles such as project manager, program manager, and project management specialist. Job titles may also reflect various project management niches.

  • What do project managers do?

    Project managers define the steps and resources necessary to initiate and complete a project. They develop a schedule, monitor staff and costs, and provide updates to stakeholders.

  • What is covered in an MBA in project management?

    Students learn advanced business administration concepts as well as project management technical expertise. These skills include budgeting, managing teams, overseeing contracts, and using project management software.

Why Get an MBA in Project Management?

Companies need project managers for various initiatives. The Project Management Institute (PMI) notes that over the next three years, organizations and industries plan to launch major projects in fields including healthcare, online education, and logistics. An MBA in project management enhances managers’ employability and competitiveness in the job market.

Online MBA in project management degree-seekers acquire theoretical and practical skills applicable across many sectors, giving employees great flexibility. Students build a network of professional connections that can lead to job opportunities after graduation. Many of the nation’s top business schools offer MBAs online, letting workers earn a degree while continuing to work. Learners must consider a number of factors as they explore schools, including the price of tuition.

How Much Does an MBA in Project Management Cost?

Tuition costs depend on several factors such as school, location, and learning format. Based on a sampling of schools, learners may pay $550-$1,716 per credit for an online MBA in project management degree. Online programs cost significantly less than the $140,000 average for full-time programs at brick-and-mortar institutions.

Online degree-seekers avoid many traditional MBA expenses such as room, board, and transportation. In-state tuition costs less than out-of-state tuition, but many programs charge an affordable flat rate tuition for e-learners. Private institutions typically charge higher tuition than public schools.

Bachelor’s in business degree-holders may receive a waiver for foundational coursework, saving time and money. Colleges with generous financial aid packages help make an MBA in project management degree more affordable.

Calculating the Cost of a College Degree

The affordability calculator helps students determine how much they can afford for an online MBA in project management. Users input income, tuition, financial aid, and expected expenses to receive an estimate.

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How Much Do MBA in Project Management Majors Make?

Project management specialists make a $77,420 median salary, according to the BLS. Pay depends on various factors such as role, location, and industry. An entry-level project manager earns $56,370 on average, according to April 2021 PayScale data. Those with 1-4 years of experience average $64,840, and the most experienced earn a $91,150 average. Project managers with enough experience can assume roles such as senior project manager of operations. March 2021 PayScale data reports these professionals averaging $99,960.

Project managers with in-demand skills such as Cisco networking, Oracle, and development operations, enhance their salaries by 40-47%. Certifications also enhance earnings and job prospects. Project managers with Project Management Professional (PMP) certification earn 22% higher wages than those without it, according to the PMI.

Courses in MBA in Project Management Programs

An MBA in project management examines a company’s key operational areas. Students learn the best practices and tools project managers use to oversee projects and teams. Enrollees complete 30-48 credits in 12-24 months. The curriculum may begin with foundation courses such as accounting, marketing, and economics. An MBA core develops managerial skills in financial, operations, and strategic management.

MBA students advance to a concentration in project management or use elective credits to complete the specialization. Coursework emphasizes collaboration, creativity, and teamwork through various projects. Internship opportunities give degree-seekers hands-on experience with managers at a real company. The degree culminates in a capstone project integrating lessons learned. The following lists three courses commonly found in an online MBA in project management.

This course gives an overview of how businesses use managerial accounting to make and evaluate business decisions. Participants explore the relevance of accounting information in areas such as production management, product pricing, and marketing.

This course explores fundamental concepts and best practices in project management. Students learn how to initiate and execute a project to develop a product or service. Class topics include project definition, budgeting, resource allocation, and quality control.

Learners study how to build high-performing teams for projects and other initiatives. The course explores group dynamics and obstacles to effective teamwork and innovation. Participants learn how to diagnose issues, manage complexities, and implement interventions.

Certifications and Licensure for MBA in Project Management Students

Project managers pursue certifications to prove advanced skills and move their careers forward. Several organizations offer generalist and specialized certifications. Students qualify for these credentials based on their education and work experience. The following list outlines three key certifications for project managers.

Project Management Professional

PMI offers the PMP designation, the leading project management credential. Candidates need a bachelor’s degree and 36 months of experience leading projects to take the PMP exam.

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Program Management Professional

PMI awards the PgMP designation to managers who coordinate and oversee multiple related projects. Applicants qualify to sit for the PgMP exam with a bachelor’s and 48 months of project/program management experience.

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Professional in Business Analysis

Project managers who manage product development and work with project teams can earn the PMI-PBA. Eligibility criteria include a bachelor’s degree, 36 months of business analysis experience, and 35 s of business analysis education.

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Scholarships for Project Management MBA Students

Scholarships provide funding for online MBA in project management degree-seekers. Students do not need to repay ships, making this a great form of financial aid. Funding organizations establish eligibility requirements for each ship. The following lists three ship opportunities.

  • Dr. Harold Kerzner Scholarships

    Who Can Apply: The Project Management Institute Educational Foundation awards this ship to undergraduate and graduate students pursuing project management or related degrees. Candidates submit school transcripts and an application.

    Amount: Up to $7,500

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  • ARES PRISM Project Management Scholarship

    Who Can Apply: ARES PRISM offers this ship to students pursuing degrees in project management or related fields. Candidates need a minimum 2.75 GPA and must submit an essay and school transcripts.

    Amount: $1,000

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  • Forté MBA Fellowships

    Who Can Apply: Forté offers a prestigious fellowship to advance women in business. Female candidates apply to an MBA program in the Forté partnership of schools. Once admitted, they receive varying ship amounts and Forté benefits.

    Amount: Scholarships and extensive benefits

    Explore Here

Online MBA in Project Management Programs 2021

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