Companies of all sizes and industries require capable, effective project management. When planning, organizing and executing tasks that turn ideas into tangibles, project management makes the job more efficient and helps ensure a successful outcome. Whatever the goal, it will require scheduling, planning, assigning, executing and evaluating, all of which are essential skills for a project manager to master.
Business professionals seeking leadership opportunities and advancement in the project management field can distinguish themselves with an MBA in project management. The University of Northern Colorado (UNC) offers a fully online MBA Project Management program that allows students to continue working while earning this advanced degree.
Advantages of an MBa in Project Management
To gain an edge when pursuing leadership roles in project management, an MBA can help set you apart from the competition. You will be able to lead complex projects and manage teams to achieve project goals. According to the U.S. Bureau of Labor Statistics, the job outlook for project management professionals is positive. They are projecting 7% growth in this field, or 77,000 openings each year, which is faster than average. And the median pay is $98,580. Those with an advanced degree earn even more.
An MBA in project management offers the value of a traditional MBA with a focus on project initiation, planning, process improvement and capability development. This can prepare you to seek certification as a Project Management Professional (PMP) or Certified Associate in Project Management (CAPM) and the Six Sigma Green Belt (CSSGB) certification.
The Role of Six Sigma in Project Management
Six Sigma is a methodology that focuses on process improvement and quality management. In project management, Six Sigma is a statistical term that refers to reducing the probability of errors or defects in business processes.
The goal in Six Sigma is to limit defects to one in 3.4 million opportunities or being defect-free 99.9997% of the time. The five key principles of Six Sigma to foster a culture of continuous improvement are:
- Customer Focus: Understanding the needs and expectations of your customers helps you tailor your processes to meet those expectations.
- Data-Driven Decisions: Relying on data and statistical analysis ensures that decisions are fact-based.
- Process Improvement: Six Sigma encourages teams to look for ways to improve processes, eliminate waste and increase efficiency.
- Employee Involvement: Active participation from all levels of an organization encourages buy-in and engagement.
- Proactive Management: Identifying potential issues before they become major roadblocks is the proactive approach.
There are two primary methodologies in Six Sigma: DMAIC, which stands for Define, Measure, Analyze, Improve and Control, and is the most widely used process in project management, and DMADV, which stands for Define, Measure, Analyze, Design, and Verify. When improving an existing process in your project, the DMAIC approach is the best option.
In the definition phase, the goals and deliverables are identified and the scope and objectives are defined. In the measuring phase, you will establish a baseline of the current performance level by setting key metrics and collecting relevant data. In the analysis phase, you dig into the data to discover root causes of defects or inefficiencies to understand why the process isn’t meeting the desired standards. In the improve phase, you will develop and implement solutions that address root causes and test various strategies. In the control phase, the improved process is continuously tracked to ensure changes are effective and sustainable.
How Six Sigma Certification Enhances Your Project Management Career
In the project management field, Six Sigma certification is highly respected and helps validate your expertise in project management. In addition to increasing job prospects and earning potential, Six Sigma demonstrates that you have developed the skills necessary to analyze processes, identify root causes, reduce variability and enhance performance.
This certification is offered through the American Society for Quality (ASQ) and the Six Sigma designation shows that you possess the capabilities and vision to optimize operational performance across any industry. It demonstrates that you are committed to continuous improvement, and you adhere to ASQ’s code of ethics.
Earning Your MBA in Project Management
Working professionals typically can’t take time away from work and personal obligations to attend an in-person MBA program. Additionally, many of these programs are expensive and require a significant amount of time to complete. The fully online MBA Project Management program offered by the University of Northern Colorado is affordable and can be completed in 12 months. It is accredited by the Association to Advance Collegiate Schools of Business (AACSB), which sets the standard of excellence for business programs.
The UNC program provides you with business management fundamentals, solution-driven problem-solving skills, global enterprise management essentials, principles of ethical leadership and much more to promote organizational growth. Their Six Sigma course provides you with the knowledge and hands-on experience to take a certification exam and earn the Certified Six Sigma Green Belt designation.
Learn more about the University of Northern Colorado’s online MBA in Project Management program.
