Project Management
Implementing relevant skills, knowledge, and tools to achieve a project's goal is project management. The five main phases of project management are initiating, planning, executing, monitoring performance, and concluding the project. Project management is becoming more and more in demand as the number of industries, and national and multinational projects increases.
Aspirants who want to become leaders can learn project management skills like setting objectives and following through on them. These courses are known worldwide, and there are job opportunities in many different industries and fields.
Project management can be studied in a number of different ways. They include a Bachelor of Science in Business Administration with Programme and Project Management (BSc) and a Bachelor of Management Studies (BMS). Master's degrees in management are available after basic bachelor's degrees like the BMS.
Eligibility Criteria (UG & PG) of Project Management
For BBA and BMS admissions at the undergraduate level, colleges set specific eligibility requirements that applicants must meet before applying to the course. Qualification models set can be different for various schools.
• A minimum of 10+2 years of education from a recognized board is required of applicants.
• For the 12th grade, the minimum score should be between 50 and 60 percent.
• must be between 17 and 25 years old.
The following are typically the eligibility requirements for PG levels:
• Candidates must have completed 10+2 years of education from a recognized board, with at least 50% of those years spent in the 12th board.
• A Bachelor's degree in any field, including architecture, engineering, technology, or planning is required.
• A diploma in the same fields may also be held by the applicant.
• A Master's degree in the same field from a reputable college is required for a Ph.D. in management.
Entrance Exams for Project Management
At UG levels, certain specific colleges conduct their university-level entrance exams for courses such as those of Project Management. Some of these entrance exams are as follows:
DU JAT– The Delhi University Joint Admission Test is the national-level entrance for admissions to BMS and other courses related to Management Studies, in colleges under DU
AIMA UGAT– This is conducted by the All India Management Association (AIMA) as a screening process for BMS, BBA and a few other courses.
MUCMET– This is the Mumbai University Common Management Entrance Test. It is used as an entrance exam to screen students for the BMS+MBA course.
SET General– This is conducted by Symbiosis University for a variety of students, including those looking to get into the courses of Management studies at SCMS, i.e. Symbiosis Centre for Management Studies.
At PG levels, for the two-year MBA course in project management, the following entrance exams are conducted:
• CAT – The Common Admission Test is a test conducted by the IIMs as a prerequisite for admission to MBA.
• MAT – This test is a general Management Aptitude Test. It is a screening process for MBA aspirants.
• XAT– The Xavier’s Aptitude Test is conducted by Xavier’s School of Management in Jamshedpur.
• ATMA– AIMS Test for Management Admissions. This is conducted as a screening process for admissions to MBA, MMS, and PGDM.
• MAH-CET
• Symbiosis National Aptitude Test (SNAP)
• Common Management Aptitude Test (CMAT)
Scope of Project Management in India and Abroad
The need for project management is growing as a result of the rapidly expanding industries in almost all areas and sectors. Construction, engineering, marketing, pharmaceutical companies, information technology, and other industries all have a growing need for project managers.
Project management has a huge reach and scope. Project managers will have more work opportunities as a result of the increasing number of expanding businesses investing in projects both inside and outside the country. As a result, there will be an increasing demand for individuals capable of managing these projects.
Course Subjects
For BBA in Project Management
The subject taught mainly in the course BBA, divided over 6 semesters, are as follows:
The core subjects are Business Organization, Business Mathematics, Fundamentals of Accounting, Marketing Management, and Business Communication.
The subjects taught other than and under these core subjects are:
• Management Concepts and Practices
• Business Economics
• Organizational Behavior
• Project Management
• Leadership and Ethics
• Business Law
• Retail Management
• Public Relations Management
• Human Resources Management
• Strategy, and various others.
Careers in Project Management
Individuals get a few choices and open doors in the project board field. They might get the chance to work under Project Managers and help them with tasks like overseeing and delegating. They might be of assistance in project planning, organization, and monitoring. This gives you more time to learn and gives you experience working with senior professionals. Managers are needed every time a company develops a new product or product line to oversee the processes that result in the final product.
Additionally, there is the option to collaborate with construction companies, architects, and builders, to ensure the smooth operation of the construction process. IT companies are one of the most popular occupations. Here project chiefs are expected to have a few degrees of explicit IT abilities. They are intended to follow the group's development and progress and guarantee that everything is moving along as planned. Additionally, there are Environmental Projects that work to alter our environment.
They typically have a wide range of responsibilities, including establishing the project's framework and coordinating roles and responsibilities. After accumulating sufficient experience, individuals may also select consulting.
Upcoming trends
Work in any field is subject to constant change and growth. This development may occasionally be sluggish or even temporarily inactive. However, a lot of the time, all of these changes happen quickly, causing a lot of new trends to emerge. The following are the upcoming developments, whether they are brand-new or enhanced improved versions of existing ones, that the field of project management will face in the near future:
• Technologies that are always changing:
Every business that employs Project Managers is always changing. In almost every aspect of their reach, they are constantly evolving and expanding, and they have also begun expanding themselves. As time goes on, these businesses are incorporating more advanced technologies. Technologies that make it easier to work more effectively, use fewer resources in unnecessary ways, and have higher success rates Additionally, it tests the Project Managers' capacity for change management and technological proficiency.
• Increase in Domestic and International Partnerships:
Given that businesses are constantly expanding, they will partner with other businesses to do so more effectively. Deals and partnerships are becoming more common as industries expand to reach more customers and markets. Companies see an increase in the number of projects as a result. Adding more Project managers is essential if you want to lead these projects. As a result, this profession now has more opportunities in a variety of fields. Additionally, a rise in the number of collaboration tools is a result of these deals.
• The gig economy, also known as the sharing economy, is rapidly expanding.
This is referring to a free market system in which no one position lasts forever. They are provided for a brief period of time. Instead of working together with another company to complete tasks, independent workers are hired. This gets more undertakings in a few distinct regions and fields for Venture Chiefs, and that implies more open doors and more experience, in working and learning.
Job Profiles
Column1 | Column2 |
Job Profile | Annual Average Salary |
IT Project Manager | Rs. 15.81 Lakhs p.a. (Approx.) |
Construction Project Manager | Rs. 10 Lakhs p.a. (Approx.) |
Engineering Project Manager | Rs. 12 Lakhs p.a. (Approx.) |
Project Coordinator | Rs. 5 Lakhs p.a. (Approx.) |
Operations Manager | Rs. 8 Lakhs p.a. (Approx.) |
Product Development Manager | Rs. 12 Lakhs p.a. (Approx.) |
Required Skillset for Project Management
We need a specific skill set for every aspect of our lives and every job we choose. Similarly, project management necessitates a set of abilities that will help an individual perform better in a variety of situations and projects.
Some of them are normal abilities, and some are specialized and well-defined for a project on the board.
• Skills in Communication: When working on a group project, it is critical to communicate effectively and professionally. By effectively conveying each person's roles, setting expectations, and other aspects, effective communication will maximize success and help keep the team and the project afloat.
• Leadership: Leadership abilities are essential for project management. The team and ongoing project will benefit from a good leader who keeps morale high, creates a motivating and encouraging environment, and shares a vision and common goal.
• Organization: Keeping a system that will run smoothly and assist in achieving the project's ultimate objective requires effectively organizing and assigning the tasks that each team member must complete. To stay up to date and ensure that everyone is on the right path, a good leader must hold regular meetings and conduct thorough follow-ups to maximize success rates.
• Risk Management: Any business needs to take care of its risks. It implies being ready for the surprising and awful. SWOT analysis is one method of effective risk management that can be used to identify and anticipate any potential threats and prepare for them or eliminate them. This is vital expertise that any task director ought to have, to run the undertaking without a hitch and to keep it on the ideal track.
• Negotiation is yet another very important skill that is required of the majority of people in all industries and businesses. It involves resolving disagreements within the group, between individuals or parties, or between any two heads. This can be used in a wide range of projects, businesses, and other organizations and is extremely beneficial.
Team management, time management, motivation, adaptability, and budget management are other essential skills for a successful project manager.