Project Management Cost

The cost of launching a new career in project management will vary based on which path you choose to become a Project Manager. If you choose to pursue certification, you can expect to spend more than you would if you don’t. However, certifications in project management typically lead to a higher salary.

What is Project Management?

Project management describes the process of managing the successful completion of a project. A Project Manager guides a project through the different stages of what is known as “The Project LifeCycle,” which comprises five stages: initiation, planning, execution, monitoring, and closure. A Project Manager’s most important goal is ensuring that a project is completed on time and under budget.

A Project Manager is responsible for creating a project plan to establish project goals and deadlines, delegating tasks to team members, motivating team members to meet deadlines, risk management, communicating with upper management, and resource management. Experts in Project Management estimate that around 90% of a Project Manager’s time is spent communicating. Soft skills such as communication, leadership, time management, and budgeting are required in Project Management.

Project management as a field is defined by the Project Management Body of Knowledge (PMBOK) created by the Project Management Institute (PMI), which outlines best practices, methodologies, and processes for professional Project Managers. Aspiring Project Managers will want to seek out training in PMBOK as well as experience in managing real-world projects.

Project management is a hot career path that is expected to add over 22 million jobs by 2027. In addition to this booming job growth, Project Managers earn lucrative, six-figure salaries. The average salary for a Project Manager is around $115,000 annually. That’s more than double the national average across all occupations.

Read more about what project management is and why you should learn it.

What Can You Do with Project Management?

There are no limits on what can be done with project management skills. Project management is a versatile career path as Project Managers are needed in every industry and in various roles. You could continue to work in the same industry even after completing your training in Project Management.

Some Project Managers work for companies on specific projects or as part of a project team. Some Project Managers work as freelancers or consultants who assist clients on specific projects.

Project management is a very hot career path because the Project Management Institute (PMI) predicts that Project Management will increase by 33%, with 22 million new Project Manager jobs created by 2027. A significant number of Senior Project Managers are expected to retire, leading to even more job openings for those with training in Project Management.

Many of the essential skills in project management are soft skills, including communication, leadership, management ability, time management, delegation, conflict resolution, and multitasking. Project management experts estimate that around 90% of a Project Manager’s time is spent communicating. Aspiring Project Managers should have impeccable communication skills and well-developed leadership skills.

Project managers often specialize in a particular industry, such as IT, healthcare, or construction. Skills already acquired in these industries could be combined with project management training for a new career within your industry.

In-Depth Review of the Cost

Every path to becoming a Project Manager is slightly different, and costs will vary depending on your chosen path. Listed below are some of the potential costs of launching a new career as a Project Manager.

If you’re pursuing project management education, you’ll probably want to take a course. Noble Desktop offers live online project management courses. If you enroll in their Project Management Bootcamp, you’ll save 15% from enrolling in the courses separately. If you plan to seek the Certified Associate in Project Management, then you will need to take courses to fulfill the project management education requirements. For example, you can take Noble Desktop’s CAPM Certification Bootcamp for around $800.

Additionally, you will need to pay to take the CAPM exam. PMI offers a discount on the certification fee to PMI members who can take the exam for $225. Non-members must pay $300 to sit for the CAPM exam. Aspiring Project Managers are recommended to join PMI for education and networking opportunities. Annual membership is around $130. College students are eligible for a discounted membership rate.

Why Learn Project Management?

CNBC ranks project management in the top five most in-demand non-technical skills. Project management is a hot career path expected to increase by 33% over the next five years, with over 22 million new Project Manager jobs expected to be added by 2027. There is currently a significant talent gap within project management as the number of Project Manager jobs continues to outpace the number of people with the appropriate training.

Forbes has called project management “a great way to get a tech salary without tech training.”

It’s a very lucrative career path: Project Managers earn an average salary of around $116,000 annually. That’s more than double the average salary of $52,000 across all occupations. Project Managers who specialize in an industry, such as IT or Oil and Gas, can earn even higher salaries.

Project Management is a skills-based job in which experience and certification are prioritized over more traditional education. Regardless of your education level, you can become a professional Project Manager by training in project management. You can also become a specialized Project Manager within the industry where you already work. For example, if you’re in healthcare, you can train to become a Healthcare Project Manager, which may result in an even higher salary.

Read more about why you should learn project management.

Free Introductory Project Management Course Online

Suppose you’d like to dip your toes into project management but are not quite ready to commit to an entire course. In that case, Noble Desktop offers free live online seminars which provide a sneak peek of their highly-reviewed, hands-on approach to live online instruction. These seminars allow you to see if project management interests you without fully committing to the career.

Microsoft Office proficiency is the most-requested hard skill for entry-level Project Managers.

Noble Desktop offers a free online Top 10 Beginner Tricks for Microsoft Excel That You Need To Know, which is recommended for aspiring Project Managers. One of the most critical responsibilities of a Project Manager is making sure that projects are completed on budget. For aspiring Project Managers, sound financial planning skills and Microsoft Office proficiency are required.

Another option would be Udemy, which offers short, online project management courses for a fee. Some popular Project Management courses offered on Udemy include Project Management Fundamentals, Lean Project Management, and Project Management with MS Project. However, all of these courses have a fee, so you won’t be able to learn about project management for free.

Read about more free project management videos and online tutorials.

Learn Project Management with Hands-on Training at Noble Desktop

Noble Desktop is a coding, design, and business school based in NYC. They offer courses on various topics, including project management courses and bootcamps, both live online and at their state-of-the-art campus in Midtown Manhattan. All of their classes feature small class sizes and are taught by instructors who are experts in their industry. PMP-Certified professional Project Managers teach all their project management courses. Graduates can retake their course for up to one year for free to continue developing their knowledge and refresh their skills.

Noble Desktop’s Project Management Bootcamp provides hands-on instruction in the Project Management Body of Knowledge (PMBOK) theories and methodologies needed to get hired as an entry-level Project Manager. Students receive hands-on, project-based training in topics that include the five phases of project management, creating project proposals, and working with a project team. Graduates receive a verified digital certificate of completion to help them get hired as an entry-level Project Manager. This bootcamp is also recommended for those planning to pursue either a CAPM or a PMP Certification. Both certifications require formal project management education, which this bootcamp provides.

Graduates seeking professional certification should consider Noble Desktop’s CAPM Certification Bootcamp, which guides students through PMI’s entry-level Certified Associate in Project Management Certification Exam. This four-day bootcamp includes 35 hours of hands-on instruction, live project-based training, an exam preparation guide, a video curriculum, lessons taught by a PMP Certified Project Manager, and a digital certificate of completion.