Question 1

What is an MBA in Project Management?

Accepted Answer

An MBA in Project Management is a degree that prepares students for careers in project management. It gives students the relevant skills, concepts, and knowledge for leading and managing projects effectively.

Question 2

What are the benefits of an MBA in Project Management?

Accepted Answer

An MBA in Project Management can offer students many benefits, including leading and managing projects effectively and a better understanding of business.

Question 3

What are the requirements for an MBA in Project Management?

Accepted Answer

To be eligible for an MBA in Project Management, students must have a bachelor's degree from an accredited institution.

Question 4

What are the courses in an MBA in Project Management?

Accepted Answer

Courses in an MBA in Project Management program typically cover topics such as project management principles, project planning and execution, risk management, and finance.

Question 5

What is the job outlook for graduates of an MBA in Project Management?

Accepted Answer

The job outlook for graduates of an MBA in Project Management is positive. Project managers are in high demand, and the skills learned in an MBA program can lead to successful careers in this field.

Question 6

How much do project managers earn?

Accepted Answer

In India, the salary of an entry-level project manager can range anywhere from INR 5.0 lakhs to INR 26 lakhs. Therefore, the average salary is near about INR 15 lakhs per annum. However, in foreign countries, the average salary of a project manager may stand at $124,138 per year.

Question 7

Do project managers have to have MBA?

Accepted Answer

In order to have the capabilities that are required to justify an executive-level job, such as a project manager, most companies may want the candidate to have an MBA degree along with prior work experience. However, it is not a mandatory degree to judge a candidate's capabilities if they have significant experience and a proven history of consistently good performance.

Question 8

What is the syllabus of an MBA in project management?

Accepted Answer

An average syllabus of an MBA in project management includes subjects like Organisational behaviour, accountancy for managers, statistics for managers, business law, HRM, operations management, financial management, marketing management, strategic management, computer integrated manufacturing, and management information system, project planning and execution. Project exports, supply chain management, disaster management, project preparation, etc., may vary with different business schools.

Question 9

Is work experience needed to do MBA in project management?

Accepted Answer

Most business schools require the candidate to have an experience of at latest two to three years. This requirement may vary with the country or the business school. However, some prestigious universities, such as Stanford University, do not require a full-time MBA applicant to have work experience.

Question 10

What are the responsibilities of a project manager?

Accepted Answer

The primary responsibilities of a project manager include but is not restricted to planning and developing project idea, creating and leading a team, monitoring the progress of the project and setting deadlines for the project, solving any issue that may arise during the project, creating and managing the budget of the project, looking after the stakeholder satisfaction, evaluating the project performance.

Question 11

What job can one get after an MBA in project management?

Accepted Answer

An MBA in project management graduate can get a job as a quality consultant, analyst, service manager, project leader, business developer, operations manager or supply chain manager.

Question 12

Which companies hire project management graduates?

Accepted Answer

Most medium-to-big size firms that deal with frequent and multiple projects hire candidates for project management. They can either be hired as a project manager or equivalent roles or as a part of the project management office. Some big companies that actively hire project management candidates include IBM, Deloitte, AT&T, Verizon, Accenture, Kaiser Permanente, JPMorgan etc.

Question 13

Offline vs online MBA in project management, which one to choose?

Accepted Answer

Online MBA in project management is considered to be better than the offline one due to multiple reasons. The first reason is the flexibility that it provides. The second reason is affordability. Online courses help save money in multiple ways. One can pursue an online MBA from a foreign university without spending a dime on travelling and other expenses. Additionally, online MBA courses are way cheaper than online ones.

Question 14

MBA vs PGDM in project management, which one is better?

Accepted Answer

The value of both courses may vary with the interest of the applicant. MBA is a degree course, whereas PGDM is a diploma course. However, there are certain differences between the two. MBA is granted by the UGC body whereas the PGDM is granted by the AICTE body. The colleges offering have a lower autonomy to change their curriculum as compared to the colleges offering PGDM. The colleges offering MBA can hire the faculty through the traditional channel, whereas, the colleges providing PGDM can invite experts and professors to keep the pedagogy industry relevant. Therefore, based on the applicant's requirements, they should opt for either PGDM or MBA.

Question 15

What is the difference between a project manager and a project management officer (PMO)?

Accepted Answer

Project managers are the individuals who are responsible for managing various aspects of a business, such as planning, organising, and following through with the compilation of certain projects so that the projects are delivered on time while keeping the quality on point. On the other hand, project management officers are a team of people working under the project management office of an organisation. PMOs are mostly hired in big firms where there are multiple cross-functional projects, and the projects are difficult to manage by a single project manager.

Question 16

What are some online project management tools for independent project managers?

Accepted Answer

A variety of online project management tools can come in handy for independent project managers. The list of such tools and software would include ProofHub to take charge of all kinds of projects and tasks, Scoro for bringing structure to work, Workzone for team activities, Proprofs to bring all projects under one roof, HubSpot, Zoho Projects, GranttPRO, nTask, Chanty, RedBooth, Celoxis, Proworkflow, Mavenlink etc.

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