Project management is fast emerging as a niche discipline reserved for highly trained, certified professionals with corporate managements becoming aware of the vital importance of efficient and time-bound project execution
In this age of narrowing specialisations, new career options are becoming plentiful for Indian youth. Among them is project management, a portfolio hitherto assigned by most corporates to generalist MBAs or engineers. Project management is now emerging as a niche discipline reserved for highly trained, certified professionals with corporate managements becoming aware of the vital importance of efficient and time-bound project execution.
With demand for duly qualified professional managers strong and rising countrywide, several universities have begun offering postgraduate study programmes in project management. Bharati Vidyapeeth, Pune — one of India’s oldest universities — launched its full-time postgraduate diploma in business and project management in 2009, targeting industry professionals with two years plus work experience. Students who successfully complete the 24-month programme are awarded PMI (Project Management Institute) certification.
The Mumbai-based National Institute of Construction Management (NICMAR) has also launched a full-time two-year postgrad course in project engineering and management. Its focus is on devel-opment of managerial skills specific to the construction and related industries. With affiliated campuses in Pune, Goa and Hyderabad, NICMAR also offers a two-year distance postgrad programme in project management through its School of Distance Education.
Yet another new entrant in the training market is the Adani Institute of Infrastructure Management (AIIM), promoted by the Adani Group — one of India’s major infrastructure construction companies which employs over 5,000 personnel in its business verticals. AIIM offers a 12-month full-time residential postgraduate programme in infrastructure project management.
Among the distance education study programmes available to postgraduates in this discipline are: IGNOU’s certificate course in project management; University of Hyderabad’s 12-month programme; Alagappa University’s (Tamil Nadu) 24-month advanced diploma in project management; the National Institute of Business Management, Chennai’s one-year study programme; and Himachal Pradesh University’s one-year course.
The most popular project management training and development programmes are short-term executive development courses conducted by industry associations, business schools and specialist training institutions including the IITs and IIMs. Certification courses are also offered by two global international certification bodies — the Project Management Institute and the International Project Management Association (IPMA), both of whom are active in India. A minimum three years of industry experience is required to qualify for project management certification.
With the emergence of a cadre of specialised professionals, the revenue of the project management education and training business is expected to rise to Rs.169 crore by 2015 at constant prices, with over 71,000 individuals signing up for training and certification.
“The demand for skilled project managers is at an all-time high in India, with a growing number of corporates and government bodies scouting for certified professionals. Currently, there are approximately 30,000 certified project managers in the country against an estimated requirement of over 500,000,” says Raj Kalady, managing director of PMI (India), whose parent body has 353,326 members across 185 countries.
With demand outstripping supply, qualified project managers are highly valued. Starting remuneration packages according to surveys conducted by Glassdoor.com and Salary.com, range from $74,500-103,000 (Rs.33.5-46 lakh) per year rising to $120,000 (Rs.54 lakh) at the senior level.
A business management (marketing) postgrad of Kochi’s School of Management Studies, affiliated with the University of Science & Technology, Kalady has acquired 26 years of national and global experience in project management working with Central and state governments in India, academia and large national and international clients. Prior to taking charge as managing director of PMI in 2005, Kalady worked with Manipal University and Aptech Ltd. Currently, his objectives are designing, developing and implem-enting the strategic and business plans of PMI in India.
Not surprisingly, the jobs outlook for project managers is bright, with demand for them having “grown extraordinarily” in the past decade in particular. Recent studies indicate that the world is moving towards a projectised economy placing a high premium on and necessi-tating over 20 million project managers in the next few years, especially in the fast track economies of Asia.
Recommending this career choice to young aspirants, Kalady comments: “Project management skills are applicable across all industries. IT companies were quick to embrace it and have reaped huge benefits. Soon other industries will follow. Qualified project managers have a brighter tomorrow than a single-skill engineer.”
Indra Gidwani (Mumbai)