Project management refers to the strategic process of allocating organizational resources and developing a plan to achieve a specific objective. The broad scope of project management allows leaders across nearly every industry to apply project management methodologies and successfully accomplish their goals. By earning a master's degree in project management, you can develop the advanced skills required to pursue many different project management career paths.
Why Pursue a Master’s in Project Management?
An online Master's in Project Management is a graduate degree program that focuses specifically on advanced project management skills, such as agile project management and project control. Students develop the core competencies required to take a project from infancy through fruition, all while managing the scope, schedule, and budget limitations of the project. The skills-based nature of this comprehensive curriculum prepares students for project management careers, allowing them to develop a foundation that they can build upon in the years to come.
Top Project Management Career Paths
So, what can you do with a project management degree? The short answer: quite a bit.
Some of the industries that work closely with project managers include construction, engineering, and technology. However, an increasing number of industries are becoming dependent on project management methodologies that allow professionals to build on conceptual ideas and execute the full scope of any project.
These are some of the top project management career paths to consider:
Project Manager
Project managers are professionals who work to coordinate all details of a project and put together a comprehensive plan to bring the project to fruition. According to the Bureau of Labor Statistics (BLS), project managers work to create a budget, allocate resources, determine staffing needs, and create a project schedule.
Program Manager
A program manager takes on a leadership role in an organization, often overseeing a team of project managers or working to coordinate several projects within one department or program. They may be responsible for establishing long-term goals and developing an organizational strategy to achieve those goals.
Portfolio Manager
A portfolio manager is a financial professional overseeing investment portfolios for individual clients. Some portfolio managers work directly with individuals or families, while others specialize in corporate portfolio management.
PMO Director (Project Management Office Director)
Project management office directors, often called PMO directors, oversee the project management office within an organization. PMO directors create and establish project management standards and develop guidelines for project managers to use.
IT Project Manager
Information technology project managers are project management specialists who work on IT projects, often planning and coordinating projects to bring new software or computer systems to the market. The IT industry is becoming increasingly reliant on project management professionals, particularly as the demand for new and advanced technology continues to rise.
Construction Project Manager
Construction project managers are responsible for overseeing large-scale construction projects. In addition to creating a budget, allocating resources, and determining a project timeline, construction project managers often have to collaborate with third-party contractors to keep projects on time and under budget.
Healthcare Project Manager
A healthcare project manager is a project management specialist who works in the healthcare industry. Healthcare project managers typically oversee projects related to medical facility upgrades, often working to maximize resources to streamline operations at hospitals and clinics.
Engineering Project Manager
Engineering project managers work closely with both engineers and project stakeholders to oversee engineering projects from start to finish. Budgeting and cost analysis play an important role in engineering project management, requiring professionals to have a comprehensive understanding of project control.
Operations Manager
Operations managers are high-level project managers who work to coordinate operations at organizations in all industries. The Bureau of Labor Statistics notes that operations managers often oversee multiple departments, requiring them to have significant project management experience as well as advanced leadership skills.
Risk Manager
Risk managers identify and assess potential risks within an organization. In addition, they are responsible for developing a risk management strategy that prevents and mitigates potential risks. They often work closely with project management specialists.
Agile Project Manager / Scrum Master
Agile project managers and scrum masters work to facilitate the agile project management approach into organizational strategy. Agile project management is a specialized approach that breaks projects into smaller cycles to streamline the process.
Change Management Specialist
Change management specialists are project managers who specialize in organizational change and corporate transitions. They develop strategies to guide organizations through major changes, such as restructuring or leadership transitions.
Product Manager
Product management is the process of creating a strategic plan for market research, product development, launch, and optimization for an individual product. Product managers often oversee the product lifecycle for a particular product, often specializing in niche areas throughout their careers.
Business Analyst / Project Analyst
A business analyst is a skilled professional who collects and analyzes data to provide organizational leaders with actionable insights on steps they can take to improve business processes and products. Business analysts often serve as liaisons between IT professionals and organizational leaders.
Consultant (Project Management)
Project management consultants work closely with business leaders to offer guidance and insight on how they can improve their project management processes and methodologies. Project management consultants often enjoy a flexible career that allows them to specialize in niche areas.
Industries Hiring Project Management Professionals
Project management professionals are in high demand in many industries, but per notes from Investopedia, some of the industries that are actively hiring project managers include:
- Healthcare
- Information Technology
- Construction
- Engineering
Earning Potential and Job Outlook
The salary for project managers varies based on individual position, but according to BLS data, the median annual salary for project management specialists is approximately $100,000 per year. Employment levels for project managers are projected to increase by approximately 7 percent between 2023 and 2033.
How to Advance in a Project Management Career
Regardless of the project management role that you pursue, you will find that you need to invest in ongoing training and continuing education to advance your career.
Earn Certifications
Project management certifications enable project managers to acquire the credentials necessary to pursue specialized positions in the field. For example, the Project Management Institute offers the Certified Associate in Project Management (CAPM) certification, which equips professionals with the advanced project management skills required to pursue positions in a wide range of industries.
Develop Leadership Skills
While many project management professionals focus on advancing their budgeting, scheduling, and project control skills, it is also essential to prioritize the core competencies required for long-term success in this field. Communication and leadership skills are necessary in the field of project management.
Gain Industry Experience
Pursuing project management in fields that interest you will empower you to gain specialized experience to build upon throughout your career.
Build a Portfolio
As you gain professional experience and earn credentials, you will want to create a project management portfolio that showcases the work you have done and the impact you have had on organizational success.
Stay Current
The ever-evolving global economy requires project management professionals to stay aware of emerging trends that are changing the business landscape. Participating in webinars, attending conferences, or pursuing a master's degree in project management can enable you to stay current in your field.
Final Thoughts
In the modern business landscape, project management is essential for organizations to deliver on their promises. Intuitive, insightful, and qualified project management professionals will have the opportunity to pursue specialized roles across a wide range of industries.
What Can You Do With a Project Management Degree? Find Out at Champlain College Online
Strategic planning and project management are crucial to the success of any organization, which has increased the demand for skilled project managers across all industries. The online master's in project management degree at Champlain College Online equips modern learners with the advanced skills required to pursue a wide range of project management career paths. The comprehensive curriculum for this graduate degree program emphasizes the development of leadership skills while enabling students to become proficient in agile project management, project control, and stakeholder engagement.
Contact admissions today and find out if this is the right graduate degree program for you.
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