A Master’s in Project Management is a great degree for students who seek to graduate with diverse career options. It is currently a popular area of study and a growing field, so there are many degree programs to choose from and jobs to apply for once the degree is completed. These are the main types of coursework that future project management students can look forward to learning about at the master’s level.

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Budgeting

Project managers are in charge of the budget for a project. Courses in this area teach students how to set an appropriately sized budget based on the nature of the project, how many employees are working on the project, the projected duration of the project, and the expected revenue gained from the completed project. These courses will involve a balanced combination of critical thinking and mathematics, including statistics.

Operations Management

Project managers must know best practices for managing all operations. Managing operations refers to managing all employees involved in the project, all relations with third parties, and all materials needed for the project. Managing employees requires efficient allocation of roles and tasks, as well as maintaining motivation. Maintaining positive working relationships with third parties involves high interpersonal skills, organization of time, and attention to detail. Managing material ordering and tracking their usage requires high attention to detail, strong time management, and excellent critical thinking. This is the essence of the project manager role.

Planning and Administering Project Contracts

Project managers prepare employment contracts with individual employees working on the project, freelance contracts with third parties involved in the project, deadline contracts, and budget contracts. They must accurately draft and uphold these contracts. This takes a great deal of strategic planning and an ability to adjust the project flow as unforeseen circumstances arise. This involves critical thinking skills and confident, quick decision-making. Students in these courses will do a lot of hands on work with practice scenarios.

Sustainability

Project managers aim for sustainability of best practices, sustainability of employee productivity, financial sustainability, and environmental sustainability. Students in these courses will learn about and practice economic efficiency, searching for the most environmentally friendly course of action for various projects, and social equity.

Project Management is an increasingly important role, as many organizations move towards more team and project-based methods of completing work, according to the Bureau of Labor Statistics. Project management coursework involves review of the current literature, as well as opportunities for practical application, making it both dynamic and highly applicable. A Master’s in Project Management is a great option for students with a thirst for business and a tendency towards leadership and organization.