MBA Project Management

MBA Project Management

Why Study MBA Project Management?

Project managers help turn plans into tangible business results. An MBA in Project Management equips graduates with the skills and experience needed for advanced management roles and functions. The top reasons to choose MBA Project Management are:

MBA Project Management Admission Process

Admission to the course mainly depends on the scores obtained in the entrance exams such as CAT, MAT, XAT, SNAP, NMAT, ATMA, etc. Students who have a keen interest in MBA project management can apply to universities such as the Pune Institute of Business Management, Parul University, NIMS Institute of Management and Commerce, Sikkim Manipal Institute of Technology, and Institute of Business Management and Research.

Admission to the MBA Project Management course is based on a merit list or entrance exam followed by a personal interview. Most of the colleges conduct counseling and select students based on the marks obtained in their Bachelor’s degree or merit list prepared by the universities. Some reputed colleges conduct entrance exams and personal interviews for course admissions.

The stages for the MBA Project Management Admission (Admission Silo) course are discussed below:

MBA Project Management Eligibility Criteria

There is a list of educational qualifications that an aspirant needs to qualify for securing admission to the MBA Project Management course. A few of those criteria are discussed below:

(i). At least a minimum of 50%-60% marks in a BBA degree or any other relevant degree from a recognized university.
(ii). You need to clear any one of the following entrance exams
(iii). There is no age limit for securing admission to this course.
(iv). There is a margin rate of 5% for candidates in the reserved category.

Skills Required for MBA Project Management

To pursue a career as a Project Manager one must possess leadership qualities and good communication skills. Along with leadership qualities, one must also know how to negotiate and read body language. Applicants wishing to take project management training should possess the following skills:

MBA Project Management Entrance Exam

There are some very reputed entrance exams, for which a candidate can appear for gaining admission to the MBA Project Management course. A few of those examinations are discussed below for the candidate’s support:

MBA Project Management Fee Structure

The average MBA in Project Management fee is INR 4 -10 Lakhs. Colleges that are offering MBA in Project Management courses full-time are listed below:

MBA Project Management Selection Criteria

After clearing the entrance exam students, the selected students need to go through aptitude tests, group discussions, and personal interviews. Once you have cleared all the rounds according to college/university, the students can avail of their admit card.

Types of MBA Project Management Courses

One can select the type and mode of MBA project management according to his needs. There are provisional ones for full-time students and working professionals. As the program is rooted to create visionary individuals, colleges have started providing various modes to pursue the course. Let’s look at the different types of MBA Project Management below:

(1). online MBA Project Management

Working professionals can benefit immensely from online MBA Project Management courses, an option that many universities are providing to candidates. They can work and study at the same time, allowing them to take the course without a career break. This way the course becomes much easier to follow than a traditional MBA.

(2). Distance MBA Project Management

The two to three-year online project management MBA program is now complete. An MBA in project management distance education is the best choice after receiving a bachelor's degree but lacks the time to attend conventional classes.

(3). Part-Time MBA Project Management

A part-time MBA Project Management course requires students to dedicate at least two to three years of study. They can pursue their jobs if any while studying the course. The course makes you suitable to work for small start-ups to big companies as project management skills are critical for both budget and time.

(4). Full-Time MBA Project Management

It is a full-time two-year program involving classroom teaching and learning and is designed typically for students who can dedicate time to the course. In addition, candidates will be able to acquire business leadership development skills and competencies. Complex theories and practices are unpacked in the classroom for students to better understand and ensure graduate success in a corporate environment.

(5). Executive MBA Project Management

An executive MBA should be applied for by professionals who are looking for a transition in their career and advancement in their career trajectory. The course may take anywhere between 24 and 27 months. A minimum of two years of work experience along with graduation is mandatory for this type of MBA Project Management.

MBA Other Specialization

The MBA program aims to give students experience in a range of industries. It is typically divided into two sections, the first of which concentrates on specialization and the second of which concentrates on general management or business administration. Students often have the option of choosing between core and elective programs in their first and second years.

Course Comparison

The MBA in Project Management program covers a variety of subjects, including operations, administration, analytical work, and project management. The table that follows compares other courses to the MBA in Project Management program.

MBA in Project Management v/s MS Project Management

Below is a comparison between MBA in Project Management and MS in Project Management:

MBA Project Management Top Colleges in India

There are plenty of colleges that are offering this MBA Project Management course full-time. Given below are the college names, locations, and the average structure of the fees which will be taken by the college for this course.

Top College of MBA in Project Management by NIRF

Here is the list of MBA in Project Management Colleges in India mentioned below as per NIRF Ranking:

Top MBA in Project Management Government & Private Colleges

Government colleges that offer MBAs are affordable and cater to the economically backward and financially discouraged part of society.

Numerous prestigious universities in private universities offer a range of MBA programs. Many famous schools and universities are located across the country.

Here is a table of government & private colleges offering MBA in Project Management:

MBA Project Management Jobs

Project managers are the entities that oversee and control diverse initiatives in corporations belonging to diverse backgrounds, including engineering, IT, marketing, construction, etc. The fundamental activity of Project Managers includes arising with an answer plan to paint around a positive idea/intention inside the distinctive project. After developing a fundamental framework, they then provoke the project, plan the processes, and designate roles and duties to humans on the team. They additionally screen the paintings and overall performance of all members, agenda conferences, and observe activities.

MBA Project Management Top Recruiters

There are several top recruiting companies both in India and abroad that are offering lucrative jobs to MBA Project Management graduates. A few of those companies are listed below where you can apply for after completing this course:

MBA Project Management Salary in India

MBA in Project Management careers have a large number of opportunities in the field of management. Students can work in organizations with different positions. The average salary for an MBA in Project Management in India is about INR 5 LPA. The pay may increase according to the working experience of a professional.

MBA Project Management Career and Scope

People get several options and opportunities in the project management field. They may have the ability to work under and assist project managers, supervise and delegate tasks, etc. They could help with the planning, organization, and monitoring of the project. This gives you plenty of time to learn more and also allows you to gain experience with seasoned professionals. Whenever a company launches a new product or a new line of products, it needs managers to oversee the processes that lead to building the final product.

There is also the choice of working with construction companies, in partnership with architects and builders, to ensure that the construction process runs smoothly. One of the most commonly chosen areas of work – is IT companies. Here project managers are required to have some level of specific IT skills. They are meant to track the growth and progress of the team and also to make sure everything is going well. There are also Environmental projects who work on bringing about a change in our environment.

Their jobs are usually very diverse and can range from creating the framework of the project to coordinating duties and roles. People can also choose to take advice after years of relevant experience.

Career options after MBA in Project Management

India, being on the path of development, offers various lucrative jobs in the field of project management. With constant infrastructural, agricultural, industrial, and various other government projects being executed, there are ample job opportunities after pursuing MBA in Project Management.  The areas of recruitment include construction, financial services, energy, engineering, healthcare, law, marketing, information technology, software development and etc.

Candidates who have pursued this course can take up jobs in different private and public organizations and seek the following profiles:

(i). Project Manager
(ii). Site Maintenance Manager
(iii). Project Executive Supervisor
(iv). Program Manager
(v). Project Risk Manager
(vi). Project Procurement Manager
(vii). Project Cost Estimators
(viii).Project Quality Managers

Project executives can pack packages ranging from INR 3 lakh to INR 8 lakh per year just after completing their MBA in Project Management. However, employment opportunities also vary depending on the internships students are pursuing and the institution from which the course was taken. Experienced candidates who are hired for profiles such as Project Manager and Project Quality Managers can get salaries of up to INR 20 lakh (varies from organization to organization).

Skills that make you the Best Project Manager

Project Managers are the project leaders who have all the responsibilities to fulfill or complete the project on time. If a Project Manager completes the project on time or within the time duration without any mistakes, he/she can be the best Project Manager.

(1). Critical Thinking

Project managers have to think about the techniques that can follow in a particular task. Critical thinking is merely being as objective as analyzing and evaluating an issue or situation and having to solve problems accordingly.

(2). Strong Leadership Skills

Strong Leadership skills are the strengths and abilities of individuals that demonstrate that they help and oversee processes and guide their employees toward achieving goals.

(3). Communication

Communication with leadership skills will help the Project Managers to work with an excellent team to work in, But you're not only going to be communicating with your team, but you also have clear communications with everyone associated with the project, from vendors and contractors to stakeholders and customers.

(7). FAQs

(1). What is project management?

(2). What is the salary of an MBA Project Management graduate?
Ans. The average salary an MBA Marketing graduate can expect is around INR 3-20 Lakhs per annum.

(3). What are the courses available for Project Management?
Ans. One can pursue a course in project management at the post-graduation level, diploma level, and certificate course.

(4). Is the MBA Project Management course expensive?
Ans. An MBA in Project Management course costs up to INR 10 Lakhs per annum.

(5). Why should I opt for a Project Management course?
Ans. A project management course is something that every individual must consider. The course can teach the employees to be efficient and productive in a business setup whilst boosting morale.

(6). What is the difference between MBA and PGDM?

(7). Who can do an MBA Project Management course?
Ans. MBA in Project Management course can be pursued by those aspirants who qualify the basic eligibility criteria of having a bachelor’s degree in any discipline with a score of national or university level entrance exams.

(8). What are the five stages of Project Management?
Ans. The five stages of project management include initiation, planning, execution, analysis or monitoring, and closure.

(9). What are the entrance tests for MBA Project Management?

(10). Are there maths in MBA Project Management?
Ans. No, there’s no maths in the MBA Project Management syllabus.

(11). When should one pursue MBA in Project Management?

(12). Can I study MBA Project Management without work experience?

(13). Which Universities Offer the Best Project Management Courses? 
Ans. The top colleges for BBA courses are as follows:
(i). IIM Indore
(ii). Shaheed Sukhdev College of Business Studies, Delhi University
(iii). Anil Surendra Modi School of Commerce, NMIMS University, Mumbai
(iv). Christ University, Bangalore
(v). Indian Institute of Management (IIM), Rohtak

(14). What skills can be learned from MBA Project Management?
Ans. The skills that can be learned from MBA Project Management are:
(i). Developing and evaluating project plans with the use of various technologies.
(ii). Ways to run a successful project.
(iii). Learn the foundations of Agile project management and scrum.
(iv). Learn skills related to people for the execution of the project.