PMP vs MBA

PMP (Project Management Professional) and MBA (Master of Business Administration) are two different designations for the individual who has studied in detail how to organize and run a business. This article will examine PMP vs MBA in detail. Generally speaking, an MBA is for somebody who wants to go into business management in general, whereas a PMP certification is for more specialized work in managing projects.

MBA

Study programs

There are seven basic types of MBA study programs offered by universities. They are:

two years — The student entering this program generally has a certain amount of previous work experience. This is also called a “full time” program.

the accelerated MBA program — This is more intense than the two-year program, in terms of both the course load and the exam schedule, and there is no summer break, although there may be a seven- to ten-day vacation between the semesters.

part time — Most of the students in this program are working professionals. Part-time study is normally carried out over a three-year period or longer and is classes are held on weekends as well as on weekdays and after working hours.

executive — This is a program for the full-time worker to pursue without dropping his or her job, and can be completed in less than two years. The students who take the EMBA generally have more work experience than those who take the others.

distance learning — Many schools offer such versions of some or all of their courses. Study material can be mailed to the student or the course can take the form of a teleconference, a video conference, a broadcast video or an online course.

blended learning — A program of this type consists of both online and real-world elements.

dual MBA — A dual program allows a student to reduce course costs by pursuing two degrees simultaneously. It is even possible, at some universities, to also pursue a bachelor’s degree in business and complete both in only four years.

What the courses cover

When studying for an MBA degree, the student takes courses that cover accounting, economics, human resource management, entrepreneurship, investment management and other financial matters, risk management and strategy, and other areas. Some curricula also include such topics as business ethics.

Career choices

Careers for the person with an MBA degree are all over the place and in a variety of areas. An MBA can find work as an accountant — in a government agency or in public or private company. He or she can also go into business management, finance, information technology, marketing, international business, consulting and entrepreneurship. The first is a particularly popular choice, since the MBA has studied virtually every area of management.

PMP

As mentioned above, the PMP certification is a more specialized path. It is offered by the Project Management Institute, a nonprofit professional organization founded in 1969 for the project management profession.

What is project management?

A clear definition of the word project should be given here. A project — unlike a job — is meant to be undertaken only once. It has definite beginning and end points. The function of the project manager is to plan and organize the processes involved in the undertaking and to motivate those responsible for carrying it out.

Taking the PMP exam

The PMP exam consists of 200 multiple choice questions that relate to the five performance domains defined by the PMI — initiating, planning, executing, monitoring and exiting the project. These processes are “mapped” to nine knowledge areas, including management of the project’s integration, quality, time, cost and human resources.

PMP or MBA?

In the end, whether an individual chooses to pursue the MBA or PMP path depends on his particular career ambitions. The MBA does offer more options, so if the demand for one job is low another might be in higher demand. On the other hand, the specialization entailed by the PMP path allows the student to focus his or her attentions more strongly in one area and thus become better at it.