Why is Operations Management necessary for every business?

Operations Management is a process that is a part and parcel of every business because operations are involved in every organization. It is the task of an operation manager to ensure that all the processes are performed as intended.

However, apart from operation managers, other officials should also learn the concepts of OM as it is requisite in every organization. These are: planning, recruiting, monitoring and controlling.

Operations management leaves a great influence on every business functions. The importance of operation management in different domains is as follows:

1.     Engineering

Engineers are considered to be great in quantitative analysis. However, the analysis of operations management involves both quantitative as well as insightful measures. Engineers can execute the task of operations managers only if they have the knowledge and relevant skills.

Without proper management of operations, they may waste hefty sum of money. If an engineering firm seeks maximum benefits in operations, then every individual should analyze individual processes in terms of the whole system, which is a part of Ops management.

2.     Economic or finance sector

Operation management can save a large sum of money. Generally, the task of finance professionals is to control the budget. Along with finance, if they have an idea of Ops Management, then they can make wiser and better decisions. Sometimes, if they are aware of various operations, they can take corrective measures to combat the malfunctioning instead of changing the plant. This saves a lot of capital.

3.     IT sector (Information Technology)

Operation Management is even an imperative part of IT companies. Most of the IT firms deal with automating operations. So, if they have the know-how of the core principles of Ops management, then they can make wiser decisions. IT professionals tend to focus only on automating the existing processes with embedded inefficiencies. With knowledge of operations, they can automate the system in an effective manner by enhancing the productivity of the plant.  

4.     Marketing

When the marketing individuals wish to launch a new product and come up with a new technology, they need to discuss its utility with the operations managers to find out whether the product will bring them profit or not. Furthermore, if marketers have know-how about operations, then they can come up with better ideas that bring profits to the organization.

Thus, operation management plays a vital role in every business organization. Knowledge in the field of operation management can make you successful in almost any industry. If you wish to gain knowledge and develop requisite skills in this omnipresent sector, then you can pursue a PGD in Operations Management. MIT School of Distance Education offers this value-added course through online/distance mode.

The course material is prepared by industry experts and it even incorporates the latest trends so that the candidates can apply the technics once they are absorbed in the industry. Since it is a distance learning course, so anyone can pursue the course as per their convenience. Fresh graduates can pursue this course to enhance their market value while the working professionals can take up this course to witness a hike in salary and to pave way for promotion.

7 pillars of marketing management

7-pillars-marketing-management

Marketing management refers to the process of planning effective marketing strategies, advertising and promoting the products and services, and managing the sales to reach the customers so that the company gains immense profits. The companies thus seek for adept candidates who can serve as marketing managers and take the organizations to the zenith of success. The managers can ensure effectual marketing management by paying heed to these 7 parameters that serve as pillars of marketing: 

1.     Branding

Establishing a brand is what makes any business unique. The products and services offered by the brand should be made catering to the needs of the people. Extensive research should be carried out to understand the needs of the customers and robust strategies should be developed to make the brand for the people.

2.     Visibility of brand

One of the best strategies for marketing is to spend on promotions. Visibility of the products and services is imperative to reach the intended customers.  Promoting the brand both offline and online with oodles of advertisements is the key to reach millions of target customers. The increase of visibility can be ensured by posting online advertisements, social media activities or by banners etc.

3.      Authority

Businesses that have authority win the trust of the consumers faster. It shows the authenticity of the business and the value it can provide to the customers. An authority cannot be set up overnight but can be built gradually. For building an authority, the companies should have their website and blogs.

4.     Social presence

This is the modern way of marketing. Being active on social networking sites and updating about company’s new projects, products or brands can spread awareness and lead to growth in the business. Advertising the products on social networking sites can garner a drastic increase in the business. It improves the visibility of the brand.

5.     Campaigning

Educating the customers about the offerings of the brand can drastically increase the sales. Convincing the buyers that the product will suffice their needs is the best way to enhance sales. Campaigns should be carried out from time to time to advertise the products and services.

6.     Customer services

Highly-responsive customer service will create a good impression of your brand on the customers. A skilled marketing manager knows the importance of customers’ service for their company. A sound customer service tells the customers that why they should buy the same product or other products of the company again. Customer services can be carried forward through E-mails, telephone or by interacting personally with the customers.

7.     Gauging the effectiveness of all the strategies

This is the last pillar of effectual marketing management. In this step, it is determined whether the business is going on the right track or not. If the sales are not great or the business is not witnessing any growth, then the areas where the marketing strategies lack should be identified. The marketing managers should analyze the effectiveness of the marketing strategies and give proper feedback to the team to make improvements in the major areas.

These seven pillars of marketing management guarantee success and huge profits for every organization. The candidates who aspire to enter the industry must be accustomed to all these parameters. Our PGD in Marketing Management is a course that prepares the aspirants to enter this sphere and become successful in their career.

7 Vital principles of Supply Chain Management

supply chain management

Supply chain management refers to the process of efficaciously managing the operations, production and the flow of goods and services from their point of origin to their point of consumption. It involves inventory management, procurement, ensuring effective distribution system, maintenance of resources, finance management, and marketing. In several companies, there is a dire need for those candidates that can manage the production cycle efficiently in such a way that operations are optimized to maximize the speed as well as accuracy.  To achieve this, there are 7 vital principles of supply chain management that needs to be followed.

These are described as follows:

1.     To adjust the Supply Chain catering to the needs of the customers

The major goal of any supply chain manager should be to focus on the needs of the customers.  In order to understand the needs of the customers, different customers can be divided into different groups and this process is termed as ‘segmentation’. The people can be divided on the basis of trade, sales volume, profitability, and supply channel. A supply chain manager should have the skills to even predict customer’s need.

2.     Customize the network of logistics

When the customers are divided into groups or segments on the basis of the service needs, the network of logistics should also be customized accordingly. The design of the entire network of logistics totally depends on the customers.

3.     Align demand planning with market trends

The supply chain practitioners are trained to share their demand data with the partners whom they are trading with so that no unnecessary stocking of products is found. The demand forecast can be made by gathering data from different retailers and analyzing previous sale data. To ensure optimal resource allocation, the demand planning should align with the market signals.

4.     Differentiate products that are closer to the customers

Assembling goods and making them available at the places where their demand is more is germane.  It is also essential to offer variety to the customers. It can be brought by packaging the goods in attractive coverings or changing some features of the products. Standardization is also vital. It helps to reduce the cost of the product as it is interrelated with the economy of scale. Hence, standardization should also be considered along with differentiating products.

5.     Outsourcing strategically

Outsourcing is a principle that saves time. However, outsourcing should be done properly to witness the desired results. The best strategy of outsourcing is that always outsource those jobs for which you or your team members have less competency. Never outsource the job related to your niche.

6.     Develop a supply chain-wide technology strategy

Automation is the need of the hour, and software like ERP can streamline the supply chain processes. Technology can be used in supply chain management to achieve optimal efficiency and ensure top-notch quality. It is essential to understand the deficiencies in the processes in order to determine the right kind of technology needed for the organization.

7.     Adopting Financial Metrics and Service

The collective success in reaching end-users should be measured with respect to some financial metrics.  Usually, ABC concept or aka activity-based costing is imposed to detect customer’s profitability. These measures can be used to drive appropriate improvements.

These 7 vital principles of supply chain management ensure that every process is managed effectively. A PGDBA in Supply Chain Management is equivalent to an MBA degree. The course is offered in online mode by one of India’s top distance education institute, MIT School of Distance Education. The course accentuates all these vital principles so that the candidates can have a blooming career in the sector.

PGDBA vs MBA in Materials Management – Which one is better?

Material management is a discipline that deals with planning, organizing, monitoring, and controlling the flow of materials from their place of purchase to the destination. It involves supplying the appropriate quality of deliverables at the right place, time and cost. Pursuing a course in the discipline gives you access to an array of job opportunities. You may get posted as a materials manager, store manager, stock and inventory manager, ERP developer, and vendor manager. When it comes to opting a course in the domain, you have the options of PGDBA in Materials Management or MBA in Materials Management. Both the course have their own significance, but the candidates should make the right choice if they wish to have the right career.

Here are a few points that may help you in making a choice:

1.     Syllabus of the course

The syllabus or course material is the deciding factor that aids in making your choice. The syllabus of MBA in Material management is the same for several years. Students who passed out 10 years back acquired the same knowledge as the ones who passed out recently. But, the market witnesses change in trends from time to time so the course material should be designed aligning to the ongoing trends. This is exactly what is done in case of PGDBA course in Material Management. The syllabus is updated on yearly basis incorporating the workable concepts and latest trends. So, the knowledge that you’ll gain in this course will be relevant to the present scenario and give you an edge over others. The course thus prepares the students for the present and the future.

2.     Type of Knowledge and Industrial Exposure

A traditional course of MBA in Material Management imparts theoretical knowledge. The students gain bookish knowledge and there is the absence of practical or workable knowledge. The knowledge that they gain through this course has less relevance in the practical context. On the contrary, PGDBA in Material Management deals with workable concepts and imparts practical knowledge. The students can access the study materials prepared by industry experts. The materials are cited with case studies and presentations for a better understanding. It is thus an industry-centric program that prepares the students to get immediately absorbed in the industry.

3.     Value of the course from career’s perspective

We go for value-added courses because we yearn to have a lucrative career. Obviously, we would choose a course that would promise a better career out of the two. MBA courses are offered by universities while the PGDBA courses are offered by autonomous institutes. Both the certifications have equal value in the eyes of the employers. However, if we look from career’s perspective, then a PG Diploma in Materials Management (PGDBA) is better.

The curriculum of MBA in Material management lays emphasis on theoretical knowledge and gives entry-level training. The candidates get employed in the industries immediately but it takes longer duration for the professional growth. On the other hand, the curriculum of PG Diploma in Material Management (PGDBA) includes practical and industry-specific knowledge and aligns with the modern-day trends. It provides a high-level training whereby the successful candidates land with high-paying jobs. Those seeking promotions, witness early professional growth and hike in salaries.

Conclusion

From the above factors, it can be concluded that a Post Graduate Diploma in Materials Management is better than an MBA in Materials Management.

Why Should You Aim for a Specialization in Risk and Insurance Management?

Specialization in Risk and Insurance Management

Risks are inevitable in every aspect of our lives – be it in the form of a health hazard that threatens our survival and well-being or an imminent danger that could lead to the loss or damage of our wealth and property. Risks can occur due to a variety of reasons. They can result from the uncertainty that shrouds the financial markets because of the rapid and dynamic changes in the regulatory, social, political, economic and environmental climate of the world. They can appear in the form of a natural calamity or a man-made disaster. They can also be triggered by unforeseen personal or professional setbacks, such as accidents or failure of a critical project or business deal. Even acts of terrorism, legal liabilities or credit-related pitfalls can be their other forms of manifestation. Considering that risks are pervasive and ingrained in our lives, it becomes imperative to manage them effectively and to have adequate measures in place to mitigate their occurrences and severity. The field of risk and insurance management attempts to detect, evaluate, interpret and prioritize risks and also focuses on the management of their adverse consequences through risk funding instruments, such as insurance.

A post graduate diploma in risk and insurance management is essential for those who are looking to steer their careers in this fast-evolving field and desire to learn the specific skills that are needed to succeed in this technical and knowledge-driven industry.

Reasons for Choosing a Career in Risk and Insurance Management

Among the several reasons that warrant an entry into this field, a prominent one is the inherent stability of the insurance industry that is almost immune to the ebbs and flows of economy. This is because irrespective of economic upturns and downturns, the need for insurance continues to prevail – both for individuals and for businesses. Thus, if you are desirous of a stable career, then this field has the potential to offer you career stability.

Moreover, the advent and spread of globalisation has led to a greater impact of the global community’s changes on the nation’s financial sector. As Indian regulators strive to remain on top of the most up-to-date compliance requirements that are implemented worldwide, a natural need arises for qualified and certified risk and insurance management professionals who are updated with the latest international trends and regulatory changes along with an in-depth understanding of the underlying thinking that drives these changes.

Another key reason that makes this discipline a lucrative career option is the considerable maturity of the insurance industry’s workforce that will catalyse the creation of a high number of vacancies in the upcoming years as the matured workforce gears up for retirement. This is also corroborated by a McKinsey & Co. study, according to which the insurance industry will face a 25% talent loss in 2018 because of the retirement of its tenured professionals.

Lastly, a career in this multifaceted field can opens the doors to exclusive career opportunities, including job roles as diverse as risk managers, underwriters, risk analysts, insurance consultants/agents, financial analysts or the highly paid actuarial profession – rated as the most desirable profession in the U.S., based on a study conducted by CareerCast.com in 2013. It is also worth nothing that a specialization in risk and insurance management incorporates comprehensive insights into various aspects of a business, thus preparing you for career prospects that are not limited to the risk and insurance industry alone but extend to a broad range of industries and business sectors that come under the purview of a regular business degree.

Options to Pursue a Post Graduate Diploma in Risk and Insurance Management Remotely

Gone are the days when a full-time MBA was the only recourse when it came to one’s need to obtain business-specific specialisations. These days, one can easily acquire new industry skills and sharpen their knowledge of multifarious domains and functions with industry-specific, short-term courses that can be pursued from the comfort of one’s home or office, without any limitations of time or location.

Situated in Pune, MIT School of Distance Education (MITSDE) is a reputed name in the realm of online post graduate diploma education. The distance learning campus of the prestigious MIT Group of Institutions, MITSDE is renowned for this vast repertoire of career-oriented courses that include its one-year Post Graduate Diploma Course in Risk and Insurance Management.

The exhaustive course curriculum of this 100% online programme is at par with that of a distance MBA and integrates the key fundamentals of different areas that are relevant to this field. After completing the course, you will gain proficiency in multiple risk and insurance management-related concepts, including Principles and Practice of Life & General Insurance, Life Insurance, Risk Management, Liability/Fire/Marine Insurance, Motor Insurance & Agricultural & Mis. Insurance, Investment Planning & Management and Marketing of Financial Services. The programme’s case study-based learning approach will help you acclimatise yourself with the real-world problems of this industry and will stimulate you to explore their known and unknown solutions, thereby empowering you suitably to survive and succeed in this challenging yet rewarding domain.

Top 5 project management concepts you must learn in your Project Management Course Certification

Post graduate diploma in Project Management

 

Project Management is a discipline that involves planning, controlling, securing and managing of resources to achieve specified goals. The project requirements are met by applying knowledge, skills, tools, and techniques. The Project Management Course imparts this relevant knowledge and skills. It enables the candidates to ensure successful execution of the project within the deadline and proposed budget. Doing such courses accelerates your chances of getting hold of a high-flying job while the working professionals witness promotion and hike in salaries. However, the certification is beneficial for career and  valuable only if you have the know-how of all vital terminologies and concepts. Here are 5 essential concepts that ought to be learned during your course:

1.      Decision making

Initiation is the primary phase of any project. It involves analyzing the scope of the project and finding out whether the project is worth your efforts. It involves the formulation of strategies to achieve end goals. The process deals with addressing two important questions- what are you going to do and in what way you’ll perform the operations to meet the objectives. This phase requires effectual decision making, so it is essential to learn this concept during your course.

2.      Project Scheduling

Once the project has received thumbs up for execution, the next step involves digging into project details. Project scheduling involves defining the tasks, calculating the budget, identifying the resources required, defining acceptance criteria for testing and devising time frames for the execution of the project. A well-planned schedule facilitates the project manager to manage the resources, capital and operations efficaciously.

3.      Resource Planning and Management

The resource of a project includes available materials, people, equipment, time and knowledge. Usually, the organizations have limited resources and it is the task of a project manager to effectively plan and manage the resources so that the end goals are met. A resource allocation plan is also extremely important to manage the scarce resources. A well-defined plan leads to effective resource management. The project manager should also be ready for adverse situations and the resource plan should be flexible to changes. The Project Management courses teach the art of managing the resources and devising useful strategies to achieve the objectives.

4.      Risk Management

Risks are likely to occur in the course of the project but what lies behind the success of any project is effective risk management. It is about anticipating the risk and having a plan to tackle it efficiently whenever it arises. Risk management includes identification of risk, analysis of risk, and the monitoring and controlling of risk by adopting effective strategies. It is a vital skill that saves time, money and efforts of your entire team thereby increasing the possibility of positive events.  

5.     Quality Management

The quality of deliverables is of utmost importance for the success of the project. Lack of proper quality control; leads to defects in the deliverables, which in turn, leads to wastage of time and money that is spent on rework. Quality Management is a process whereby the standards or requirements of a project are established catering to the customers’ perspective. It is then ensured that the operations are going in accordance with the established standards. It is the task of a project manager to define the acceptance quality, and the quality of deliverables is then measured with respect to that.

Though there are a plethora of institutes that offer management courses, but pursuing course from reputed institute like MIT School of Distance Education enhances the value of your resume. The institute facilitates you to upgrade your skills via online mode so that you can learn at your own convenience. A PG Diploma Course in Project Management offered by the institute incorporates all the aforementioned concepts.

Career scope for Post Graduate Diploma in Wealth Management

Wealth Management

 

Earning money is one thing and dealing with money or managing finances is another. Wealth Management is a branch that lays emphasis on effective management of finances so as to cut off the operational cost and maximize the profits. Strategic savings can lead to tremendous growth and it also aids the organization to achieve its enduring goals. Wealth management is an art that purely depends on three verticals- time, money and risk. One needs to have requisite skills in order to devise apposite strategies that effectively manage the wealth of any organization. A PG Diploma in Wealth Management is one such course that teaches the crucial management concepts and makes candidates industry-ready for immediate absorption in a host of industries.

Need of Wealth Management

In the past few decades, the Indian economy has been booming, stocks are augmenting, real estate prices are rising, globalization is storming, and the salaries of the middle-class individuals have gone up considerably. This has led to an ever-rising demand for effectual wealth management services.  Apart from blooming economy, there are times of recession and crisis in the market and under such circumstances, the companies seek for financial experts who can maximize the profits and curb the costs. As a consequence, wealth management has emerged as a high-flying career option for a legion of Indian graduates.

The task of wealth managers

Wealth managers provide an effective layout for any organization to manage the funds appropriately so as to seek long-term gains and reach organizational goals. Their wealth management services include tax advisory, succession planning, real estate management, investment advisory, investment under assets like insurance, mutual funds, equity, and debt. To get a job as a wealth manager, you need to go for a course that teaches management concepts.

A PG Diploma in Wealth Management is one such course that facilitates the candidates to gain appropriate wealth management skills. Credible and top-notch quality educational institute like MIT School of Distance Education offers the program through online mode. It gives you access to course material formulated by experts so that you can learn the concepts while continuing with your ongoing job.

Career scope

There is tremendous scope for those candidates that have requisite skills in the field of wealth management. The candidates can immediately get absorbed in any industry, finance firms and private banks including ICICI, HDFC, Citibank and much more. All the organization whether small or big seek for wealth managers that can devise strategies to capitalize on the profits. Other big employers include companies dealing with mutual funds, insurance companies, and those firms that provide an array of wealth management services to the population such as portfolio management, taxation advice, and asset management. Not just the industries but individuals also look out for finance experts who can provide useful advice related to investment and savings.
Some of the job opportunities that will knock your door post the course are as follows:

  1. Finance controller
  2. Insurance Manager
  3. Treasurer
  4. Finance Experts
  5. Director of Finance
  6. Finance Officer
  7. Chief Financial Officer
  8. Financial Consultants
  9. Credit and Cash Manager
  10. Risk Manager

 

Distance MBA in Project Management Vs Post Graduate Diploma in Project Management: 5 Differences that can help to decide between the two

Post graduate diploma in Project Management

In a world of increasing competition and opening of various career domains, one is always baffled about choosing the right course that would take one closer to one’s aspirations. More often than not, career decisions are informed. It’s either inspired from a friend, relative or close acquaintance or encouraged by the online platform where websites, reviews and blogs dominate the students’ mind.

Sad thing is neither of these ways actually helps a person to choose a career that’s perfectly cut out for them. Presently, people have lots of sources to gather information but hardly any sources to get clarity on the available options. Therefore, before jumping into any career decision, it’s important to take out some time and see how one option is different from the other.

Distance MBA in project management and Post graduate diploma in Project management seem to be the same. However, there’s hell and heaven difference between the duos.

  1. Universities Vs Autonomous Institutions

    Firstly, one has to understand the concept of universities and autonomous institutions. The former is a larger educational body giving affiliations to many institutions. All these institutions make their curriculum and syllabus as recommended by the universities. They are bound to follow the university norms in every sphere of education. Further, only universities have the right to provide MBA degrees and conduct MBA-related programs.

    On the contrary, the latter is an independent educational body that is not associated with any university. Autonomous institutions make their own curriculum according to industry requirements. As they are not universities, they cannot conduct MBA courses and therefore opens platform for Post graduate diploma in Project management in distance learning.

  2. Outdated syllabus Vs Modern growth-oriented syllabus

    Secondly, universities hardly take the time to review their curriculum structure which also includes the syllabus. As a result, students study the same thing years after years and remain confined within an obsolete educational environment.

    This however does not happen in the PGDM model. Here, institutions make lot of efforts to understand the changing dynamics of project management and thus shapes their syllabus accordingly. There’s more up gradation and revisions, all aiming at updating students with the current scenario.

  3. Theoretical Knowledge Vs Industry-centric focus

    Universities always have a tendency to emphasise on theoretical knowledge and bookish education. Distance MBA in project management and any other discipline mainly comprises books and theoretical study materials, with no practical exposure. Students only read, mug up notes and appear for exam. However, they are not steadily prepared to face the real world.

    Independent institutions on the other hand exercise an industry-oriented education. In Post graduate diploma in Project Management the primary focus is on the industrial requirements. It considers the skill-set demanded by the industries, recent developments in technology and the professional expertise that needs to be inculcated in every candidate, prior to entering jobs. It is therefore a more industry-specific course that enables students to learn through experiences, case studies and practical assignments. At the end, candidates stay advanced, far ahead than their competitors in the trail.

  4. Entry-level skills Vs Senior level professional expertise

    Another significant difference is that of an entry-level guidance and an advanced senior level guidance. Universities, with their theoretical outlook, prepare students for entry-level jobs. After passing out from universities with a distance MBA in project management, candidates go through a yearlong training procedure and falls into the conventional scale of promotion. Naturally, career growth, promotional incentives and other lucrative benefits follow a long route.

    Post graduate diploma in Project Management takes the students to a higher level of preparation by equipping them with all the necessities of their industrial job. Such a course makes candidates fit for senior-level positions that further calls for faster promotions, quicker incentives along with other lucrative benefits.

  5. Rigidity Vs Flexibility

    Lastly, it’s all about confinement and openness. Universities confine students within a 360° theoretical domain. It has stricture norms and follows a rigid pattern of education. In sharp contrast, independent institutions are more flexible and dynamic. They take a modern approach towards study and ensure long-term growth and success to every Post graduate diploma in Project Management  student.

Career Opportunities after pursuing Post Graduation in Project Management

Distance MBA in project management

Project management is one such job that demands a multi-disciplinary approach in various professional responsibilities. From making client visits to coordinating among the inter-departmental teams, the project manager plays a crucial role in ensuring timely and successful completion of projects. In large MNCs, the viewpoints of the project managers are also considered for shaping future company policies. The position of a project manager is therefore of utmost significance and helps in all-round development of an organisation.

As a post graduate in project management, you can walk into any corporate sector of your choice. Today, there are many career opportunities that enable you to fulfil your dreams, achieve your ambitions and earn a lucrative professional life in the long-term. After finishing distance MBA in project management, you can aspire to be a:

  1. Project Manager
    The very first post that comes to you is that of a project manager. A company mainly runs by its projects. Each of its ventures requires a professional who will coordinate with clients, bridge the client-company gap and work in close collaboration with all the team members associated with the project. Punctuality, good discipline and perseverance are the key traits of a successful project manager. At the same time, good understanding of the client’s requirements and excellent communication skill are also essential for making a successful career in project management.
  2. Marketing Manager
    A company never happens to be a company until it propagates its goods and services. Marketing campaigns are consistent efforts driven by the company to bring more clients and end-users within its business circle. Here comes the role of a marketing manager where he/she is required to devise good marketing strategies and work in close collaboration with the management on 360° marketing of the business of an organisation. If you wish to become a marketing manager, all that you have learnt while pursuing distance learning MBA in project management, can be put into practice.
  3. Industrial Production Manager
    This is most suitable to the ones who come from technical backgrounds like Engineering, Supply Chain and other similar disciplines. A correspondence MBA in project management paves the way towards becoming a competent and efficient production manager for any industry. Here, the production managers are given the overall charge of looking after manufacturing, maintaining stocks and also ensuring that clients’ orders are produced and delivered on time. Production managers are often endowed with multiple projects requiring proper labour management, allocation of duties among the junior staff and maintain constant collaboration within the department.
  4. IT and Database Manager
    Ever dreamt of working in the IT industry and enjoying database? Well, Distance MBA in project management can make it happen. In present corporate world, IT and database managers are required to handle multiple projects simultaneously and mind you flawlessly. So, it calls for good project management skills and efficiency in handling project requirements. Presently, most of the project management candidates are making it big in the IT and database work culture.
  5. Team Leader
    Is any way a team leader less than a project manager? Surely not. The only difference is where project managers get into a bigger picture, team leaders are confined to their teams whatever be its size. It so happens that at the end of the day, team leaders have bigger projects to execute than their project managers. Thus, distance learning MBA in project management holds a plethora of scopes and opportunities as a team leader.

Besides these core opportunities, correspondence MBA in project management can make you a social media manager, project supervisor, associate project manager, associate marketing manager, etc.

Benefits of Project Management Course for Software Engineers

Project Management Course

As a Software Engineer, you will often find yourself surrounded by high-impact projects that come with stringent deadlines apart from the fact that they earn significant revenue for your company. More often than not these aggressive timelines are non-negotiable for your clients since a lot is at stake for them, depending upon the timely completion of these projects. The slightest of delay on your part could lead to an inevitable deadline miss or an extension which, in turn, could potentially incur massive financial losses for your clients, disrupt their planned roll-outs and even hinder the smooth functioning of their businesses. Not to forget the loss of face in front of the client and the resulting client dissatisfaction which could make him or her suspend the project midways or could cause your company to lose the client forever.

Hence, it becomes imperative for you, as a Software Engineer, to keep a close watch on the project toll gates while you are busy applying your engineering principles to design, develop, test and implement complex software systems for your customers. This is where a distance course in Project Management can be beneficial for you as it empowers you with formalized project management skills that are necessary for realizing project goals in a planned and systematic manner.

Though every project has its own unique challenges and goals, yet the overall framework of project plan, project charter, stakeholder management etc. remains broadly unchanged for all. Hence, picking up these basic skills at an early stage can go a long way in ensuring that you are able to successfully deliver a variety of projects in accordance with the specified timeline and budget that have been agreed upfront before the initiation of the project.

Importance of Project Management for a Software Engineer

Project Management is a specialized discipline that deals with the fundamentals of managing a project strategically from its initiation to its closure. The niche field teaches you the basics of how to initiate, plan, evaluate, estimate, organize, delegate, execute, direct and control a project effectively so that the project goals are fulfilled according to predefined objectives. This know-how is crucial for a Software Engineer who has to ensure that the project at hand is able to meet the specific success criteria that have been agreed with the client.

Moreover, a Software Engineer is often entrusted with large-scale projects that require the involvement of multiple team members, each of whom have their designated roles to play in the timely fruition of the project.  Along with the development of distinct technical skills that are elementary to the successful completion of the project within the given constraints of scope, time, quality and cost, a project management course endows one with the key management strategies that come handy while working on a collaborative enterprise or when tasked with the responsibility of leading a team of software professionals who are working on a challenging software assignment.

Optimal allocation, co-ordination and management of resources, both human and material, are integral to an effective project management strategy. A correspondence course in project management can impart Software Engineers with the knowledge of creating a deliverable oriented WBS or a Work Breakdown Structure that helps them chalk out the quantum of effort required to achieve the objectives of their projects. Through hierarchical and incremental decomposition of the project’s scope into manageable components like tasks, sub-tasks and work packages, one is able to organize their teams’ work better. Likewise, one develops a sound understanding of how to make use of the allotted budget in the most efficient manner so that the team is never short on the resources that are mandatory for the build and deployment of a desired product.

Communication is another irrefutable feature of any software-related project. Regular status updates are a given as one has to keep the internal and external stakeholders well-informed about the progress of the project in its various phases. A post graduate diploma in project management incorporates powerful tools like Gnatt charts and PERT charts that can aid a Software Engineer to illustrate a project schedule in a graphical manner by mapping the amount of work done in a certain period in time against the planned output for the scheduled time period. Such visual representations are far more impactful than ordinary emails and dashboards.

Since development of software is usually synonymous with the creation of a novel product or application, hence, traditional approaches that work well with defined scopes may not yield satisfactory results in an environment dotted with a high level of uncertainty and fast-changing technologies and requirements. Such dynamic projects may require exploratory models such as iterative, incremental and critical chain approaches – topics which form an integral part of a standard project management curriculum.

Lastly, a specialization in project management can help you pre-empt, assess and proactively address the underlying risks and ambiguities that are commonly associated with any large-scale or complex software-related project that encompasses organization-wide integration or impact.

How Can a Distance Project Management Course Benefit A Software Engineer?

If you are a Software Engineer who is already employed with a firm or a business, then it is less likely that you would have the time or the flexibility to pursue a fulltime course in project management. A distance MBA in project management can be the best possible alternative for you if you want to perfect your project management skills in tandem with your existing job. Equally important is the selection of a credible institute that offers you a flexible course curriculum that is not bound by location constraints and can be pursued at a suitable time according to your convenience.

A one-year unique Post Graduate Diploma Course in Project Management from a UGC-DEB recognised institute like MIT School of Distance Education (MITSDE) can be a wise choice for you if you want enhance your awareness and understanding of the various concepts, terminologies and methodologies that are typical of this ever-evolving field in a way that doesn’t interfere with your existing work schedule and commitments. The exhaustive course content includes topics like Project Planning Concepts, Project Execution, Project Assessment, Project Administration, Project Report, Management Information Systems and Enterprise Resource Planning that are frequently used for managing large-scale projects. Post course completion, veteran Software Engineers will find themselves better equipped to front complex and time bound software projects while MITSDE’s dedicated placement support will particularly benefit those who are about to kick-start their career or those who are planning mid-career switches to land rewarding job opportunities at top-notch MNCs and corporate houses.