The University of Alaska at Anchorage confers a cheap online Master's in Project Management that is a great fit for any professional. This is a 100 percent online degree that utilizes synchronous courses and can be completed in less than 18 months will full-time study. Students will find a comprehensive curriculum taught by renown industry insiders and scholars. With most of the courses leading to a project management portfolio, students will also enjoy a resume that includes a body of work that they have completed during their time with the University of Alaska. Students can expect to complete a minimum of 33 credit hours of coursework and a capstone project prior to graduation. Sample courses include Project Executing, Monitoring and Control, Application of Project Management Processes, and Operational Integration and Project Closure.
10 Most Affordable Master’s in Project Management Online in 2021
Earning an online Master’s in Project Management may not seem like an in-demand degree, but it is an increasingly preferred degree when it comes to candidates looking to fill positions as project managers. This is thought to be a result of the country’s economy growing, leading to more businesses to be established. Project managers are an important asset to any business, and so an educational background in the field is in high demand by employers in all industries, but particularly the engineering and IT industries.
Professionals who already work in the industry will know that earning a graduate degree in the field is necessary in order to advance to mid-level and senior-level positions. However, with so many of them working full-time, online options have become their best bet to complete their graduate education. As the need has grown for these programs to be conferred online, many schools have created programs that will suit the needs of professionals, which has resulted in this list.
Accredited Online College Programs
Most Affordable Online Master’s in Project Management in 2021
Our Methodology, Explained
Grad School Hub compiles rankings based on public data released from educational, commercial, and government databases. Sources such as the National Center for Education Statistics and the U.S. Bureau of Labor Statistics play a significant role in how we source our educational data. After collecting insight for each institution, we organize information into five weighted categories.
Metric Data Used Percentage Academic Quality Full-time faculty percentage, student-to-faculty ratio, student retention and graduation rates 30% Affordability Tuition rates, median student debt, and financial aid 10% Reputation Admission and enrollment rates 30% Program Offerings Number of program options 20% Online Enrollment Score Portion of learners taking at least one online course 10%
A more comprehensive evaluation of how each category is determined and scored is accessible on our Ranking Methodology page.
Frequently Asked Questions
What are the Career Options for an Online Master’s in Project Management Degree?
Project management is still a growing field; this career is slated to grow 12 percent to 2020 and very few in the industry have field-specific education or certification. However, it is important to note that at this moment, a graduate degree is considered a terminal degree in this field.
There are two general career options for professionals in this field: project managers and project directors. Project managers are those who oversee one or two projects for a particular organization and generally report to senior-level management. They are responsible for the creation, execution and analysis of a project, maintain the budget, and implement disaster recovery and risk assessment if required.
Project directors oversee all of the projects that an organization is undertaking. They are the supervisors that project managers report to and are responsible for reporting to C-level executives about the status of a project at any given time. This is an advanced position that generally comes after a few years of work experience and the successful completion of large-budget projects; this is the most sought-after position by professionals in this field. While challenging and stressful work, it can also be extremely rewarding.
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How Much Can You Earn in this Field?
Project managers can work both in the United States and abroad; this is a benefit to professionals who work in multinational companies and organizations. However, for the purposes of this question, salaries mentioned will only reflect American wages.
A project manager in America can expect to earn $89,000 in an entry-level position. For those with graduate degrees and some work experience, this can go as high as $100,000. Salaries are determined by region, work experience, and portfolio offerings.
It is important to note that because project managers work in a variety of industries that their salaries will reflect that. General project managers, such as those who work in the business or construction field, make around $125,000 as a median salary; project managers who work in IT make substantially more, with entry-level salaries clocking in at $104,000. Engineering project managers make the most in America, with their entry-level salaries starting at $134,000.
What are the Various Disciplines of Project Management?
Project management is a field that, like so many others, has different disciplines for different industries, However, these disciplines are secondary to the general disciplines found in the field. The most common disciplines are management, project planning, human resources, leadership, and business. Professionals who choose to pursue a career in a STEM field will find that their career will be affected by the industry they choose. For example, a project manager who works in IT must have a firm knowledge of IT, Big Data, information systems, computer science, and more. A project manager working in engineering must have an understanding of engineering, the subfield they work in, and more.
All project managers will have a strong understanding of the law, ethics, regulations, and policies that affect their industry. They will also have a comprehensive foundation in strong and soft skills that, while not strictly disciplines, does determine how effective they are in their careers.
What is PMI and is it Useful in this Field?
PMI stands for the Project Management Institute. It is a nonprofit professional organization that trains, develops, and certifies project management professionals. While it was established in Pennsylvania in 1969, it now is the global leader in this profession and includes its own accreditation on an international scale.
For project management professionals, PMI is a necessary part of building a career in the industry. Not only does the institute offer accreditation, it is also the leader for certifying project managers; the institute is also responsible for the Project Management Body of Knowledge guidelines, which many programs adhere to in order to prepare their students for certification. This makes it a necessity for any student who is interested in this field.
Most of the programs on this ranking are either recognized or accredited by PMI. It’s necessary to earn a degree from one of these programs because it lays out a pathway for certification by PMI right after graduation. It is also a highlight on any resume.
Students will notice that, once in the field, becoming a member of PMI is a great way to network as well. If a student has earned a degree from a school that adheres to the PMBOK guidelines and is certified as a Project Management Professional, admission to the institute is almost certainly guaranteed. Once a member, these professionals will be invited to take part in networking events, conferences, and professional development courses that can positively impact their career.
How Does an Online Degree Benefit Working Professionals?
An online degree can be a great advantage to working professionals because of the flexibility and freedom it provides them. With access to asynchronous courses, short-term schedules, and the ability to complete their degree as either a full-time or part-time program, professionals can complete their education with little to no disruption to their career responsibilities.
Online degrees, especially those that are accredited by PMI, enable students to have flexible schedules. Courses are generally delivered through the asynchronous format, which means that students can attend classes when it’s most convenient for them. It also enables them to focus on one course at a time instead of having to work on a full-time course load.
Virtual students also benefit from having access to a variety of different term schedules. Traditional degrees work on the 16-week academic term; online students often have a choice between 10-week and eight-week course terms. In some cases, courses are taught on a five-week term schedule or even as a one-week intensive, although the latter usually requires residency at the school.
Finally, professionals who work full-time cannot attend school full-time and in many cases, travel for work and cannot be expected to show up on campus for every single class. Online programs enable students to either take their degree as a part-time plan of study; some even offer programs in which just one course is delivered every five weeks. This makes it a great choice for working professionals.
Online degrees can be considered a working professional’s best friend. With so many options that make it convenient to continue their education, professionals are more likely to stick with an online program than a traditional degree. And since many schools do not differentiate between degree delivery methods, there’s no reason for a professional not to consider an online education.
Project management continues to play a major role in most industries; from business to education, government to healthcare, projects are always being designed and implemented to create better products and services to the public who require them. It comes as no surprise, then, that professionals with an educational background in this area are in demand all over the country. With the help of this ranking, students interested in earning an online Master’s in Project Management will be able to narrow down their choices and move forward with their career goals.
This concludes our ranking of the Top 10 Most Affordable Master’s in Project Management Online.
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