What is an MBA in Project Management?
An MBA in Project Management is a graduate business degree. The program features core business courses, plus concentration courses on leading and managing projects.
MBA programs often overlap with MS in Project Management programs. But, an MBA usually focuses on how project management fits into a big-picture business strategy. An MS could delve more into project management functions, plus techniques for leading successful projects. In other words, an MBA looks at project management on the macro level, while an MS takes the micro approach.
What Jobs Can You Get with A Master’s in Project Management?
Project Managers who hold an MS or MBA in Project Management could work in industries ranging from Engineering to IT. For example, IT Project Managers often earn an MBA.
Though PMs work in different fields, they may use similar techniques to orchestrate projects. They plan project scope and needs, plus manage workers to get the job done. They also handle vendors and make sure the project stays under budget.
Master’s in Project Management Salary
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Occupation
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Average Salary
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Employment
|
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General and Operations Managers
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$123,460
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2,212,200
|
|
Computer and Information Systems Managers (IT Project Managers)
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$149,730
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365,690
|
|
Construction Managers
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$101,000
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263,480
|
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Marketing Managers
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$145,620
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218,970
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(Source: https://www.bls.gov)
Top States for Employment with a Master in Project Management
The following employment information is for General and Operations Managers. Data will vary for other project management career paths.
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State
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Employment
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Annual Mean Wage
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California
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255,210
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$136,080
|
|
Texas
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165,360
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$135,510
|
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New York
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160,760
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$151,920
|
|
Illinois
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118,820
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$124,190
|
|
Florida
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97,630
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$117,820
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(Source: https://www.bls.gov/oes/2017/may/oes111021.htm)
Top Salary Metro Areas in the United States: General and Operations Managers| Metro Area | Annual Mean Salary | Employment |
|---|
| Bridgeport-Stamford-Norwalk, CT | $169,580 | 9,050 |
| Trenton, NJ | $150,910 | 2,420 |
| New York-Newark-Jersey City, NY-NJ-PA | $141,460 | 150,300 |
| Midland, TX | $140,720 | 1,970 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $138,160 | 70,000 |
Bureau of Labor Statistics
Project management professionals work in many industries. These include IT, Healthcare, Engineering, Construction, and more. For example, industries that employ the most General and Operations Managers include:
- Management of Companies and Enterprises
- Management, Scientific, and Technical Consulting Services
- Computer Systems Design and Related Services
- Local Government
Top Masters Degrees in Project Management
Project Management degrees are reported by the National Center for Education Statistics under the category of Business, management, marketing, and personal and culinary services.
The most recent data (2013) shows there were 726 Project Management degrees awarded to U.S. graduate students. The majority (99.5%) of these graduate programs were at the Master’s level.
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Master’s in Project Management vs MBA in Project Management?
Depending on your intended career path, either an MBA or MS in Project Management could help you prepare.
An MBA with a concentration in Project Management tends to consider PM as part of a larger business strategy. You may take more core business courses than PM courses. And, you may focus more on PM theory than functions and techniques.
An MS in Project Management also covers business strategy. But, this program may focus more on how to carry out that strategy at the project level. You may look more closely at how to manage scope, timeline, budget, and quality. You may also take some general business courses, but the focus will be on PM.
Master’s in Project Management vs MBA in Project Management?
Depending on your intended career path, either an MBA or MS in Project Management could help you prepare.
An MBA with a concentration in Project Management tends to consider PM as part of a larger business strategy. You may take more core business courses than PM courses. And, you may focus more on PM theory than functions and techniques.
An MS in Project Management also covers business strategy. But, this program may focus more on how to carry out that strategy at the project level. You may look more closely at how to manage scope, timeline, budget, and quality. You may also take some general business courses, but the focus will be on PM.
Master's in Project Management
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MBA in Project Management
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Master of Science in Project Management
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Master of Business Administration in Project Management
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Length of Program: 12-24 months, 36 credits
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Length of Program: 24 months, 45 credits
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This program takes an outcomes-focused approach to the study of Project Management. Designed for working professionals, the curriculum could help you prepare for certifications like PMI.
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This program focuses on leadership and foundational business courses, plus key project management principles. You’ll study all aspects of carrying out a project, from managing a team to evaluating results.
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- Principles in Project Management
- Risk Management
- Change Agency & Management
- Operations Strategy
- Strategic Information Management
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- Managerial Finance
- Strategic Marketing Management
- Contemporary Issues in Human Resource Management
- Global Project Management
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Program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP)
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Program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP)
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You could also find graduate Project Management programs at the doctoral level. For instance, a PhD in Project Management program involves scholarly research and writing, along with applied theory. Expect to take courses on qualitative research methods, along with PM and business courses.
Online PhD in Project Management programs focus more on research than Master’s programs do. While PM Master’s programs could wrap up with a capstone, in a PhD you’ll need to research and write a dissertation. If you’re interested in going beyond management skill areas to devise original solutions, earning a PhD could be ideal. Otherwise, a Master’s program may cover what you need to know.
Master’s in Project Management Curriculum
In a Master’s in Project Management program, coursework tends to span all phases of a project. You may learn about human resources, risk management, and the technology you need for the job. You could also learn how to evaluate and report on project outcomes.
Courses you could take include:
- Planning and Resource Management
- Business Analyses
- Professional Communications
- Operations Strategy
- Project, Program, and Portfolio Management
- Cost Estimation and Forecasting
- Schedule Management
- Quality and Process Improvement
Project Management programs could also offer concentrations in a particular industry or skill area. So, you may be able to take courses specific to your career goals. Possible concentrations include Construction Management, Enterprise Architecture, Supply Chain Management, and more.
Finally, many programs include a capstone. This project brings the chance to put together everything you’ve learned in the program, plus conduct research in an area of interest.
What Requirements Are Needed?
Admissions requirements for Master’s in Project Management programs may include:
- Application
- Official transcripts of previous education
- Minimum GPA
- Resume
- Letters of recommendation
- Personal statement or essay
- Prerequisite business courses
- GMAT or GRE scores
Requirements vary by institution. For instance, many programs do not require GMAT or GRE scores.
Graduation requirements for earning your Master’s in Project Management also vary. Most programs call for 30 to 45 credits of coursework. You may need to earn a minimum GPA in your courses. You’ll often need to complete and present a capstone project. And, some programs require an internship.
Accredited Project Management Programs
The Global Accreditation Center (GAC) of the Project Management Institute (PMI) accredits programs at the following levels:
- Bachelor’s
- Postgraduate
- Doctoral
Project, program, and portfolio management programs are eligible. The GAC accreditation confirms that programs meet global quality standards. It also ensures the institution and its faculty are committed to ongoing evaluation and improvement.
If you’re interested in earning PMP certification, graduating from an accredited program could be a good start. That said, it’s not a requirement.
The Accreditation Council for Business Schools and Programs (ACBSP) also accredits Project Management programs. ACBSP focuses on teaching excellence, student outcomes, and continuous improvement.
Unaccredited programs may still offer a quality education. But, add accreditation to your list of factors to consider as you research PM programs.
How Long Does It Take to Earn a Master’s or MBA in Project Management?
A Master’s or MBA in Project Management usually takes one to two years to earn. Most programs are 30 to 45 credits.
How Much Does a Master’s in Project Management Cost?
The average cost of earning a graduate degree from a public institution is $11,617 per year. You could find programs both more affordable and more expensive than the average.
Below, we’ve included the graduate tuition costs of 4 institutions with Project Management Graduate Programs as reported by the NCES. We compared those costs to the typically most affordable and most expensive college options, also reported by NCES.
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Instate/Out Of State Tuition
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School
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$11,617 Average Public Institution University Tuition
$14,784 Average Private For Profit Institution Tuition
$26,551 Average Private Nonprofit Institution Tuition
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What are the Costs per Credit for a Master’s Degree in Project Management?
Cost per credit depends on the school and program. Remember that state universities may charge in-state costs vs. out-of-state costs. Below are a few examples of cost per credit as reported by institutions offering graduate Project Management programs.
Find 38 Top Project Management Graduate Programs Here:
