Master’s in Project Management Online

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

While most online Project Management Programs take between 18 and 24 months to complete, some programs require only about nine months to do so, provided they are taken full-time. A 1 year Project Management degree is excellent for students who wish to complete two or more courses quickly. Here are some examples of universities offering a 1-year online master’s in project management:

University of Southern California³

12 Months

Lasell University⁴

12 Months

An MBA (Master of Business Administration in Project Management) is a comprehensive business-focused degree covering various management aspects, including finance, marketing, and strategy. A Master’s in Project Management, on the other hand, is specialized, concentrating solely on project planning, execution, and leadership. While an MBA provides a broader skill set suitable for various managerial roles, a Master’s in Project Management hones specific skills needed for successful project initiation, execution, and closure, making it ideal for those seeking specialized careers in project management.

Like most other Master’s Programs, online Master’s in Project Management programs have comparable admission requirements. Apart from the completed application form with an application fee, students must submit their Academic Transcripts and references, a Résumé or Statement of Purpose, and perhaps even an Essay or Personal Statement. Applicants must typically have a bachelor’s degree and should have maintained a Grade Point Average of 3.0 or higher. Some colleges may call for a GMAT or GRE score, especially if the candidate’s Grade Point Average is inadequate. Here is a ready reckoner for admission requirements to a Master’s in Project Management Program:

• Completed Application Form & Application Fee
• Academic Transcripts
• Professional of Academic Letters of Recommendation
• Bachelor’s degree, preferably in a field related to Human Resources or Business Administration.
• A Résumé or Statement of Purpose
• An Essay or Personal Statement that describes the applicant’s relevant work experience and ultimate career goals
• GPA of 3.0 or higher
• GMAT or GRE score, if sought

Note: It is not uncommon for colleges to demand work experience (in a relevant field of business) of at least three years or more.

A quick search on the internet will easily yield a result of a free online Master’s Degree in Project Management, albeit with certain caveats. These claimed free courses are not entire Master’s Degrees; their certificates tend to be considered participation certificates rather than actual accredited degrees. However, signing up for free online courses is a good way to broaden one’s awareness and insight into specialized topics in Project Management. Here are a few to explore:

Rising tuition fees are always an obstacle for students. Online Master’s in Project Management programs are especially expensive to enroll in and require students to explore various funding options. Here are some means to alleviate the cost of advanced education:

Scholarships

The most popular form of college funding is Scholarships. A scholarship is available for almost every Master’s Degree, and an online Master’s in Project Management is no exception. Scholarships can save students hundreds and thousands of dollars, so locating one that is seemly is always advisable. The few Scholarships listed below are only from the many available across the country:

PMI Educational Foundation Scholarships¹⁴

The PMI Educational Foundation offers scholarships to support students pursuing degrees in project management or related fields. These scholarships aim to empower the next generation of project management professionals by providing financial assistance to students dedicated to excellence in the field. Applicants can access various scholarship opportunities to aid their educational journey in project management.

Award Amount: $5000

Application Deadline: TBA for 2024

Dr. Harold Kerzner Scholarships¹⁵

The Dr. Harold Kerzner Scholarships are prestigious awards for supporting students pursuing project management education. These scholarships, named after the renowned project management expert Dr. Harold Kerzner, provide financial assistance to outstanding individuals seeking to advance their knowledge and careers in this field, fostering excellence in project management education.

Award Amount: $7500

Application Deadline: TBA for 2024

Matthew H. Parry Memorial Scholarship¹⁶

The Matthew H. Parry Memorial Scholarship is a tribute to the memory of Matthew H. Parry and his dedication to project management. This scholarship aims to assist promising students pursuing project management degrees and honor the numerous contributions made by Mr. Parry to PMI and the project management profession by providing financial support for their education and fostering the growth of future project management professionals.

Award Amount: $2000

Application Deadline: TBA for 2024

(Note: To prevent being defrauded online, read about Scholarship Scams.)

Program Funding

Typically, colleges offering online Master’s in Project Management programs provide flexible payment options for tuition fees, allowing students to pay in equalized, incremental, or deferred installments. This financial flexibility helps students manage their educational expenses more effectively while pursuing their degree.

Grants

Grants are financial awards governments, institutions, or organizations provide to support various projects, initiatives, or educational pursuits. Unlike loans, grants do not require repayment, making them valuable resources for students, researchers, non-profits, and businesses. 

Employer Sponsorship

Working professionals, especially those already handling some business functions in a large company, may have access to sponsorships for advanced education. Employers usually prefer internal career advancement, especially when an upcoming project requires a new manager.

FAFSA or Federal Loans

FAFSA is another viable choice for funding an online Master’s in Project Management program. Students can access federal grants, loans, work-study programs, and state and institutional aid by submitting the FAFSA. It is a key step in making college more affordable.

All these options and more are better explained in the best financial guide. 

Compared to graduates of most other Master’s Programs, students who have completed their online Master’s in Project Management are better placed to find good jobs and carve high-potential careers for themselves. Almost all sectors need Project Managers in some form or another who can plan, strategize, and guide businesses through major transitions, growth, and upgrades in process and technology. There is a long list of careers one could choose from, but here are a few Sectors that show an increasing demand for Project Management Professionals:

• Construction
• Engineering
• Information Technology
• Utilities, Oil and Gas
• Marketing
• Finance and Insurance
• Management & Professional Services

Project Management Professionals commonly carry Job Titles such as – Administrator, Consultant, Director, Program Lead, Program Manager, Project Manager, and Project Scheduler, among others.
As for remuneration, Project Managers are paid a fair bit more than most managerial roles. Pay ranges from an annual median of $61,330 that a Community Service Manager would earn¹⁷to an annual median of $146,244 an Architectural Project Manager would earn¹⁸.

Certifications are a novel and viable way of giving a Project Management Degree a leg up. They convey the specific nature of the candidate’s expertise, skill, and knowledge to the employer, making it potentially easy to land a niche job within the larger Project Management sector. Licenses to practice Project Management are generally not required, although some sensitive government projects may demand one. Here are a few Certifications of heft and repute:

Certified Project Manager²²

This globally recognized certification remains valid for a lifetime, eliminating the need for costly and time-intensive recertification. Designed to be accessible worldwide, the certification is entirely online, allowing individuals to prepare at their own pace. It verifies proficiency in both the technical and interpersonal aspects of project management, showcasing the ability to manage projects not only from a technical standpoint but also with strong interpersonal skills.

Project Management Professional²³

The PMP certification recognizes individuals adept at overseeing the people, processes, and business priorities of professional projects. Developed by PMI, the global authority on project management, PMP acknowledges project managers who demonstrate leadership experience and expertise in various approaches to project execution.

Six Sigma Certification²⁴

6Sigma.us offers global business classes, extending training and certification opportunities beyond traditional work settings. Obtaining certifications like Six Sigma Yellow Belt, Six Sigma Green Belt, Six Sigma Black Belt, Six Sigma White Belt, or Six Sigma Master Black Belt significantly boosts qualifications, making a standout candidate during crucial job interviews. Employers recognize 6Sigma.us training and certification as valuable assets for potential job positions within the company.

Certified Associate in Project Management (CAPM)²⁵

The CAPM® demonstrates possession of foundational knowledge and skills sought by project teams. It signifies readiness to undertake various projects, employing predictive project management, agile principles, and business analysis. Earning CAPM equips individuals with everything needed to initiate a career in project management.

Be it students or working professionals, one cannot ignore the importance of learning from outside the book and expanding the scope and scale of one’s knowledge. In particular, students of online Master’s in Project Management should connect with Project Managers – both novices and veterans – and learn how to solve complex problems, face difficult situations, plan better, strategize efficiently, and do much more than what books teach. The few resources below are excellent options to get started:

1. Association for Project Managers²⁶
   Association for Project Managers is a source of information on the latest industry project management trends, compensation and benefits, and educational opportunities. Its mission is “to promote project management excellence in the design and construction industry through knowledge sharing, education, and quality management.”
2. International Association of Project Managers²⁷
   The International Association of Project Managers (IAPM) is a global association that promotes quality and knowledge in project management. The organization’s main goal is to provide optimal support to project managers in their work.
3. Project Management Institute²⁸
   Project Management Institute (PMI) is a culmination of free online resources, virtual events, guides, and so much more. Membership in PMI can connect working professionals with 600,000 other members and help build skills through a global community.