What Are the Goals of a Project Management Degree?
Natural leaders thrive as project managers, who execute and oversee an idea from its inception to completion. Highly organized individuals with strong interpersonal communication skills also excel as project managers, who supervise teams in hospitality, civil engineering, healthcare, and human resources.
Online master's programs in project management introduce students to methodologies and skills such as quality assurance, risk management, human resources, and team leadership. Online master's programs also provide hands-on experience through capstone projects in which students assess operations in local organizations.
Many learners enter project management programs with military or career experience that can often count as college credit. According to the Bureau of Labor Statistics (BLS), project managers earned a median annual salary of $73,570 in 2019.
Read on to learn more about the courses offered in an online master's in project management degree and the scholarships available.
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FAQ on Project Management Degrees
What does a project manager do?
Project managers supervise teams of employees, prioritize tasks, manage budgets, and conduct risk management. Project managers serve as a liaison between staff and management.
What project management software is there?
Project management software such as Trello, Asana, and Monday.com allows all members of a team to easily share information, track project developments, and manage assets.
What industries need project managers?
Project managers have the tools and educational background that appeal to employers across different industries. Employers in construction, finance and insurance, and healthcare rely on project managers.
Accreditation for an Online Project Management Degree
Accreditation provides students with evidence of a school or university's credibility. Under the guidance of the U.S. Department of Education, third-party agencies oversee the national and regional accreditation process. Employers often prefer candidates who earn a degree from a school with regional accreditation, a designation considered more prestigious than national accreditation.
Accreditation matters for practical reasons. Students pursuing online graduate programs cannot receive federal financial aid from schools that do not hold nationally recognized accreditation.
Online programs also receive accreditation. The Distance Education Accrediting Commission assesses online programs to ensure that they meet quality standards and policies. To receive accreditation, distance learning programs must undergo a voluntary examination and meet academic criteria.
Learn more about why accreditation matters.
Project Management Masters Degree
The best online master's in project management degrees offer students a flexible and well-rounded curriculum with competitive tuition rates. The online master's programs listed below serve students through concentrations, specialized courses, and comprehensive capstone projects.
See our rankings methodology page.
Career and Salary Outlook for Project Managers
Experience, educational level, and location all impact a project manager's salary. Salaries also vary depending on the industry. For example, project managers working in information technology make an average annual salary of $87,895, according to PayScale. In construction, project managers make an average salary of $74,036 per year. On the lower end of the pay scale, project managers in marketing make an average of $61,497 annually.
Project managers with additional credentials or continuing education credits can further boost their earning potential. Earnings may also differ depending on bonuses and commission. The PayScale salary averages listed below represent estimates.
No matter the industry, management positions should increase in the coming years. The BLS projects all management jobs to grow by 7% between 2018 and 2028.
| General/Unspecified Industry | Construction | IT |
|---|---|---|
| $73,901 | $74,036 | $87,895 |
Source:PayScale
Certifications and Licensure for Project Managers
Certifications and licenses provide project managers with specialized project management training to enhance their resumes. Employers often prefer candidates with specialized skill sets and mastery of industry software or methodologies. Students can obtain certifications during an online master's program. Professional organizations also offer post-graduate certifications, including the three options listed below.
Certified Associate in Project Management
The CAPM certification appeals to professionals who manage large-scale projects. Administered by the Project Management Institute, the three-hour test consists of 150 questions. Candidates must complete 23 hours of project management continuing education before applying. This certification prepares project managers to take the project management professional exam.
Certified ScrumMaster
This certification appeals to project managers across all industries who want to strengthen their understanding of Scrum methodology and frameworks. Project managers who pursue this certification generally work in software development. The certification consists of an online or in-person session with a certified Agile coach. To earn the certification, applicants must complete a 50-question test, which takes about 60 minutes.
Project Management Professional
This certification is the next stepping stone in professional development for individuals who took the CAPM. Candidates need a four-year degree with three years of career experience and 35 hours of continuing education experience in project management. Otherwise, applicants need a current CAPM certification or five years of work experience and an associate degree.
Courses in Project Management Programs
Earning an online master's in project management provides students with a foundation in current industry standards and methodologies. Graduates leave these programs with an understanding of risk management and how to maximize team performance and perform a cost analysis. The practical skills students learn through hands-on assignments teach them how to prioritize, plan, and schedule projects. They also become adept at using industry tools and software.
However, each online master's degree differs in focus. For example, a master's in business administration degree with a concentration in project management features more business-focused courses than an online master's in project management.
The following examples are common courses featured in an online master's in project management.
Agile Fundamentals
This course teaches students how to implement incremental management practices as outlined in the Agile Manifesto. Developed to manage software development projects, Agile now applies to many industries.Project Risk Management
This course teaches students how to mitigate and respond to risks. Students learn about the internal and external risks involved in project management and how to conduct qualitative and quantitative project risk analysis. The tools and skills that students learn in this course can apply to construction, finance, and healthcare.Project Planning and Scheduling
This course teaches students how to implement frameworks to proactively manage project schedules and work under time and financial constraints. Coursework covers topics like linear resource leveling, chain scheduling, and program evaluation review techniques. Students also learn about the legal responsibilities associated with contracts.Introduction to Project Management
Students taking this course learn the principles and skills needed to become project managers. Topics include resource allocation, risk assessment, progress monitoring, and recruitment. Instructors often use case studies to demonstrate how project managers can implement industry tools and methods.Capstone Project
At the end of a master's program, students must typically complete a capstone project that allows them to integrate what they have learned. Students often work at a local organization to assess and analyze management operations for a final capstone project.
Scholarships for Project Managers
Students earning a master's in project management can explore the five scholarships below.
Dr. Harold Kerzner Project Management Scholarships
Who Can Apply: Undergraduate and graduate learners studying project management at an accredited college can apply for this scholarship. Applicants must submit a resume, transcripts, two references, and an essay.Amount: $7,500
Jane M. Klausman Women in Business Scholarship
Who Can Apply: Undergraduate and graduate women pursuing business-related majors can apply for this scholarship. Applicants must be in their final year of a master's program. Applicants must submit an essay to their local Zonta club.Amount: $1,000-$7,000
PMTI's Annual $500 Scholarship
Who Can Apply: The Project Management Training Institute offers a $500 scholarship to aspiring project managers. Applicants must be enrolled full time in an accredited college.Amount: $500
SILA Post Secondary College Scholarship
Who Can Apply: The Securities and Insurance Licensing Association Foundation offers this scholarship to college learners studying business administration, education, finance or accounting. Students pursuing information technology, insurance studies, marketing, or math may also apply. Candidates need a minimum of a 3.0 GPA and U.S. citizenship.Amount: $2,500
Bishop/Kloch Memorial Scholarship
Who Can Apply: Established to honor the founders of the Baltimore chapter of the Project Management Institute, this scholarship benefits undergraduate and graduate students enrolled in a project management program in Baltimore, Maryland.Amount: $2,500
