The rising demand for project management professionals is related to an increased number of jobs available in industries such as financial services, construction, professional services and publishing. These fields that prioritize projects also have many people likely to retire in the coming years. According to the 2021 Talent Gap report from the Project Management Institute (PMI), “globally, a gap between the demand for project management skills and the availability of talent continues to persist,” and “the global economy needs 25 million new project professionals by 2030. To close the talent gap, 2.3 million people will need to enter PMOE (project management-oriented employment) every year just to keep up with demand.”
The online Master of Business Administration (MBA) with a Concentration in Program and Project Management program from the University of Wisconsin-Parkside (UW-Parkside) can teach students how to manage projects, budgets, programs and resources more effectively and help organizations across diverse industries to achieve greater efficiencies. In addition, this online MBA in Program and Project Management program can help prepare graduates for leadership roles to fill the demand for these positions.
Why This Is an Ideal Time to Focus on Program and Project Management
Project management involves directing and leading a team to achieve goals. This complex job requires knowledge and skills regarding resource management, risk mitigation, finance, supply chains and inventory, personnel management and scheduling. It also necessitates working with representatives from sales, marketing, municipal governments, vendor partners and client companies.
An effective project manager needs precise attention to customer service, organization, research and development, delegation, leadership and time management. A successful project manager ensures that a company sticks to a budget and stays on track regarding schedules, spending and resources. The project management process involves helping an organization streamline and organize projects by sourcing materials, hiring employees or subcontractors, obtaining permits, adhering to regulatory standards and communicating effectively.
Project management is essential for businesses incorporating advanced technology into their day-to-day business activities. Technology such as machine learning or artificial intelligence can boost productivity and effectiveness. This trend increases the demand for project managers familiar with and experienced in using these technological supports.
The shortage of project managers in the workforce is a concern for businesses that have become more reliant on technology to remain globally competitive. Project managers with in-demand soft skills, such as communication, critical thinking and emotional intelligence, can change and adapt to new focuses regarding customer feedback and collaboration. The desire of businesses to improve their project management processes drives the demand for leaders in this position. This is an ideal time for those interested in project management to earn an advanced degree.
About the UW-Parkside’s Online MBA in Program and Project Management Program
This AACSB-accredited online program enables students to earn an MBA in project management quickly. The curriculum utilizes case studies and Agile and Waterfall processes to deepen the understanding of project leadership, change management, resource management, team building and more. Students will learn the construction and implementation of project phases and assignment of human resources within the context of portfolio management, effective team communication and management, budget preparation, risk mitigation, performance tracking and cash flow management.