As the business landscape becomes more complex, the need for skilled project managers is increasing. For recent college graduates exploring career options, a career in project management offers a unique blend of leadership, organization and strategic thinking. Bringing projects to successful conclusions is key to gaining a competitive advantage. Asana, however, estimates one in 10 corporate initiatives fail, resulting in cost overruns, missed opportunities and wasted time and personnel resources.
Organizations, therefore, place a premium on hiring qualified project managers. The U.S. Bureau of Labor Statistics (BLS) predicts career opportunities will increase faster than those for all other occupations with an estimated median compensation of $99,000. Graduates of the Southern Illinois University Edwardsville (SIUE) online Master of Science (M.S.) in Management Information Systems (MIS) with a Specialization in Project Management program are prepared to utilize project management expertise in a number of career paths.
What Is a Project Manager?
To understand how to become a project manager (PM), it’s crucial to first grasp what a project manager does. Career Explorer’s overall job description is that of a professional who oversees the planning, execution and closure of a project. More specifically, this is a project involving the deployment of software in an organization, according to IT Service Management. A PM does the following:
- Sets clear objectives
- Engages stakeholders
- Manages risk
- Allocates resources
- Monitors and controls progress
- Assures quality performance throughout the project life cycle
- Implements processes to adapt to changes to the initial scope of work
“Changes are inevitable in any project,” according to IT Service Management. It notes that a competent PM can effectively manage them to minimize disruptions and bring the project to a successful conclusion.
How Do Professionals Get Into Project Management?
The foundation of a successful candidate’s resume for a project management position describes a professional with mastery of the profession’s principles and methodologies. Programs like the Southern Illinois University Edwardsville online Master of Science in Management Information Systems with a Specialization in Project Management provide the essential skills needed to excel. It equips graduates with in-depth knowledge of critical project management skills through a curriculum that includes studies in:
- Project planning: Creating a detailed project plan that outlines the scope, schedule and resources needed
- Risk management and mitigation: Identifying potential risks and developing strategies to minimize their impact
- Staff management: Leading and motivating a team towards the same goal
- Technical communication: Effectively conveying complex technical information to both technical and non-technical stakeholders
The hands-on, accredited program prepares graduates for the Project Management Professional (PMP) exam. Ranked as the top PM certification in North America, PMP holders report 33% higher median salaries than those with the credential.
What Is “Scope” in Project Management?
Scope refers to the boundaries of a project, defined by parameters like time, budget and effort. “Defining the project scope effectively anchors the success of any project,” according to Bonsai Technologies. A detailed project scope is a project road map that, among other things, sets boundaries, outlines and specifies benchmarks and sets timelines and descriptions of deliverables. A poorly defined scope of work can doom the project for failure.
Scope creep is a typical result of the failure to set adequate boundaries, according to Forbes. “When a project’s requirements go beyond those included in the original plans without authorization or control measures, the project enters into scope creep,” it warns.
Forbes cites the government initiative to create an automatic baggage handling system at Denver International Airport (DIA) as an example of scope creep gone wild. An analysis after the project’s completion 16 months late and $569 million over budget found the lack of project structure from the outset allowed for more than 2,000 design changes. The DIA failure was minor compared to Boston’s Big Dig: Nine years late and $12 billion over budget.
Businesses do not have the luxury of raising taxes to pay for scope creep, so they are driving demand for competent PMs. Other notable failed government projects include the Alaskan Bridge to Nowhere (scrapped after a decade at a cost of $223 million) and the California Bullet Train, which the New York Times describes as “a multi-billion dollar nightmare.”
A component of a project scope of work is the Work Breakdown Structure (WBS). The WBS subdivides the overall project into tasks and timelines. This helps project managers organize teams, keep them on task, allocate resources and track progress. “In other words, a work breakdown structure serves as your map through complicated projects,” according to Project Manager.
How to Be a Good Project Manager: The Role of Education and Training
SIUE’s program offers a comprehensive curriculum that prepared students for project management roles. The program includes specialization courses — like Agile Project Management Standard Processes — that cover “processes for managing scope, time, quality, cost, human resources, communications, risk, and procurement.”
SIUE’s online M.S. in MIS with a Specialization in Project Management program offers a structured path to advanced industry roles that require a solid background in skills that include risk analysis, resource allocation and contract administration. Investing in this specialized education can open doors to achieving your career goals.
Learn more about Southern Illinois University Edwardsville’s online Master of Science in Management Information Systems with a Specialization in Project Management program.
