Project management
professionals direct business initiatives in a variety of fields, including engineering, information technology and other settings. Managers oversee four basic components of any project: resources, time, money and scope. In doing so, they work with a diverse range of employees to ensure that projects are completed on time and within budget. For the professional seeking to broaden his skills and knowledge, a master's degree in project management offers a variety of benefits.
Career Advancement
Research in economics and education has consistently demonstrated a correlation between education and earnings. A master's degree allows project management professionals to advance their careers and earn higher salaries. A master's degree also opens up a wider range of project management jobs within large industries. According to a 2006 survey by the Project Management Institute, cited by the U.S. Bureau of Labor Statistics, full-time project managers in the U.S. had median annual earnings of $96,000, which means that half of the project managers in the survey earned more than that amount (see References 1).
Expertise
A master's degree in project management demonstrates to prospective employers that you have developed expertise in your profession. Project management master's programs allow students to develop an understanding of the best practices in the profession. A master's program includes foundational courses, such as financial management, organizational leadership, statistical analysis and business ethics, as well as studies in quality management, contracts and procurement, cost and schedule control, plan development, and project implementation.
Hours Toward Certification
Completing a master's degree in project management from a program accredited by Global Accreditation Center (GAC) gives graduates a boost in obtaining project management credentials from the Project Management Institute, the certification agency for project managers. Graduates of a GAC-accredited program in project management can apply their education hours toward the experience requirements for the Project Management Professional certification examination.
Networking Opportunities
A master's program in project management offers networking opportunities, bringing students into contact with other business professionals and faculty members. This allows a student to expand her range of professional contacts within her respective industry.
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