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Value of Master of Science in Project Management
Anonymous
I'm interested in starting a MS in Project Management and was wondering how much value the business world, by business world I mean project management business world, places on this type of degree. I haven't seen too many jobs that require it but a recent information session for the program was packed so obviously people do think there is some value to it. I'm actually in the program because I wanted an even more in depth look at PM than what I was able to attain from the PMP but it would be nice to know that there are financial benefits to my $30,000 plus investment.
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See http://www.pmforum.org/library/papers05/esccerteval/toc.html for a Benefit:Cost Analysis of the 4 most popular or well know credentials relating to Project Management- PMI’s PMP, AACE’s CCC/E, AIPM’s RegPM and IPMA’s Level C. This comparison was done from the perspective of a typical graduate student.
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Dear Anonymous, your comments and observations regarding getting a MS in Project Management are right on target. I doubt that you will find many jobs in the business sector that would require a Master's Degree in Project Management. And, in the business sector, I doubt that you will ever work for anyone that has a MS in Project Management. In terms of return on investment, for the business community it is not the "degree" rather the "know how" obtained through the program that will result in a ROI for your investment. For those coming right out of school, a MS in Project Management might very well be viewed as "further schooling" and nothing much more. For those going through a Master's program who have already had more than a few years of work experience, PMP certification, and specific large or complex project management experiences, the MS in Project Management will likely have far more meaning to employers and ROI to you - not just financial ROI, but the ability to get the most out of curriculum. For any path you chose, project management or otherwise, it is wise to have a life long education plan. A Master's in Project Management would be an excellent addition to the journey. As a side note, many CIOs and PMO Managers struggle with the fact that many project managers, though very strong in project management, have less skills in the business/industry and less technical skills. For example, if you are the CIO of a bank, what would you value more; a PMP who is getting a Masters in Project Management, or a PMP who is who is embarking upon business/industry professional education to better understand industry drivers, core business needs, and how to best align business strategy to project initiatives. Again, there are plenty of opportunities for life long education. Cheers. -- Mark Perry, VP of Customer Care, BOT International
Anonymous
Thanks Mark for your input. I gave serious consideration to obtaining the MBA instead of doing The MSc. PM but in the end felt the subject of project management was one I wanted to explore more thoroughly. I come from an IT background and really enjoy working on various IT projects so naturally I felt the PM degree had more to offer me personally then the MBA. I currently have no aspirations to become a CEO....A Sr. Progam Manager is something that I had in mind. Thanks again.
Anonymous
I'm also a PMP, but want to further my education and have gone back and forth about getting a Masters in Project Management. I decided not to expend the energy or time pursuing a masters and am going to stick with professional development courses that provide more knowledge and gather the PDU's to re-certify every 3 years. I'm 54 now and if I decide to go for another degree, I'd rather take classes in a subject I can relax into (like art or film)and take into retirement. At this stage of my life, I don't want to have to work so hard to learn.

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