Project management, or the process of completing a scope of work promptly, is a critical function for nearly every industry. Florida Institute of Technology’s online Master of Business Administration (MBA) in Project Management program equips students with specialized skills to effectively manage a project’s scope, timeline, budget and quality, preparing them to lead complex initiatives with confidence and precision.
This career path offers a unique blend of professional fulfillment, job stability and strong earning potential. Data from the U.S. Bureau of Labor Statistics showcases a median salary of $100,750 and projected job growth of 6% annually, outpacing the national average.
Career paths that offer both job security and earning potential are almost always highly competitive, and project management is no exception. Rising graduates interested in entering this field can stand out in the job market by pursuing an advanced degree that specializes in project management.
Pursuing a Career in Project Management
Project management is the application of specific knowledge, skills and techniques to achieve defined, measurable project objectives. In other words, project managers make sure that projects are completed on time, within budget and with satisfactory quality. A career as a project manager requires strong communication, leadership and collaboration skills, along with a solid understanding of core business principles. According to Forbes, project managers are typically responsible for overseeing six dimensions of a project:
- Cost Control: Managing a project’s budget and implementing strategies to ensure everything operates efficiently.
- Resource Management: Ensuring that both people and equipment are available, functional and well utilized throughout the project.
- Quality Management: Ensuring deliverables meet stakeholder expectations and maintain high quality at every stage.
- Planning and Scheduling: Creating timelines, assigning tasks and setting milestones to deliver the project on time.
- Collaboration and Communication: Serving as the main point of contact for teams, stakeholders and clients, ensuring that information flows smoothly.
- Risk Planning: Anticipating potential disruptions and navigating them successfully to keep pushing the project forward.
To help develop these skills prior to entering the workforce, many young professionals choose to pursue an advanced project management degree after completing their undergraduate studies. Obtaining an MBA in project management typically broadens career prospects by demonstrating to employers that you possess both advanced project leadership skills as well as a strong foundation in core business disciplines. Having this degree on your resume can help you stand out in the crowded job market and fast-track you for leadership positions.
Obtaining a Master‘s in Project Management Online
The two most significant drawbacks of obtaining an MBA are typically the time commitment and cost. However, online programs, like the one offered by Florida Tech, mitigate these roadblocks by providing flexible remote schedules and a reduced timeline to graduation. Florida Tech’s online program offers three significant advantages to students when compared to traditional MBA programs:
- Flexibility: The remote, online structure enables young professionals to advance their education without interrupting their current career path or personal schedule.
- Timeline: Students can complete this program in as few as 15 months, allowing them to reap the benefits much faster than a traditional MBA program, which typically lasts a full two years.
- Versatility: Upon graduation, students will be prepared to pursue many different career paths, including project management consultant/specialist, quality assurance manager or senior program manager. They’ll also be eligible to sit for the Project Management Professional (PMP) certification, a crucial certification that can help you secure an even higher salary.
However, the online nature of this program does not compromise its quality. In addition to foundational business coursework, Florida Tech’s online MBA in Project Management program offers plenty of specialized courses, such as:
- Mastering Project Management: Students learn the generally accepted project management practices in industries like construction, software and engineering. This includes the nine knowledge areas of project management.
- Project Tools and Techniques: Students learn tools and techniques used to plan and control projects and accomplish business objectives, as well as which tool or method to apply during different phases of the project life cycle.
- Cases in Applied Project Management: Students apply learned concepts to practice planning and managing a project from initiation to completion, gaining hands-on experience.
Learn more about Florida Institute of Technology‘s online Master of Business Administration (MBA) in Project Management program.
