Project Management in Munich

Project Management textbooks tell us that every project is constrained by three dimensions: time, budget and scope.

Time

Every project has a target deadline. Project managers usually establish the project timeline based on how long each project task is estimated to take. They typically project milestones with the deliverables targeted to be released by using tools such as the Gantt chart.

Scope

The scope of a project determines what exactly is to be delivered. This determines the resource requirements that need to be met in order to complete the project.

Budget

An organisation can only spend so much on any given project. Understanding the target cost allocation and its limits are important to the success of any project. There are a lot of elements that can affect costs:

Staff salaries
Implementation of new technologies
Upstream suppliers increasing costs
Changes in scope that add on to the project deliverables
Balancing the project management triangle

These three dimensions – time, scope and budget, known as the project management triangle – are interrelated. Changes in one of the dimensions directly affect the others. An increased budget, for example, can have the effect of reducing the project’s time scale, or increasing the scope of the project.

Together, the three dimensions contribute to the quality of the final project output. So, cutting the budget without adjusting the project’s scope or time schedule will lead to lower quality outcomes.

Project Management Tools

Still popular with professionals, the Gantt chart has been around as a project management tool since the early 1900s – although it is now computerised and far more adaptable to the changes that often come up in project plans.

The chart shows what has to be done (activities) and when (schedule), allowing the project manager to see at a glance:

What the various activities are
When each activity begins and ends
Where activities overlap with other activities, and for how long
The start and end dates for the whole project

Today’s project scheduling can be enormously complex and uncertain, and although the Gantt chart cannot yet predict unforeseen events (we can only anticipate what AI has in store for us!), it does allow for quick and easy adjustments and anticipation of which project events must happen before others can occur.

You Get What You Pay For

An investment (budget) in time and effort (scope) will reap the rewards of rapid career advancement through the pathway of project management. Offered over three semesters/one year of full-time study at EU Business School’s Munich campus, the MBA (Project Management) offers a well-rounded course of study for senior managers leading innovation teams within their organizations.

Why Munich?

Studying an MBA in Munich allows students to expand their business knowledge in the economic powerhouse of Germany. The vibrant Bavarian capital is home to numerous major multinational company headquarters including BMW and Allianz, as well as a flourishing start-up scene. It is also actively pursuing initiatives to provide a greener, more sustainable living environment.

Munich may be famous for its annual Oktoberfest festival, but it has so much more to offer students wishing to study business. The city energetically promotes and supports innovative start-ups and tech companies, making it an ideal place for future entrepreneurs to gain knowledge, get involved and to set up new and forward-thinking ventures. Munich also offers students a superb array of sports, outdoor adventures, socialising and entertainment opportunities, ensuring a well-rounded student experience.

Global Focus

The diversity of the MBA student body at EU Business School, Munich, comprises more than 100 nationalities (95% international students), speaking an average 3.5 languages, from different cultures and backgrounds.

At EU’s Munich campus, students regularly go on company visits to the headquarters of global enterprises like BMW, Siemens, Paulaner, Coca-Cola, MAN Trucks, Audi and Porsche. These visits offer students an opportunity to gain unique insights into the way that successful businesses operate. Senior-level employees regularly visit the EU Munich campus to share their knowledge and provide case studies for students.

Globalisation refers to the integration of economies, cultures and societies across borders which has resulted in increased international trade, investment and the movement of people. With the rise of globalisation, businesses can reach customers worldwide, but they also face challenges such as cultural differences, language barriers and various legal frameworks.

A postgraduate degree in project management provides the key competencies to manage a global organisation efficiently and effectively, equipping the leader with the skills and knowledge to adapt to dynamic and complex environments. Courses include:

Global Issues for Management
Strategic Marketing Analysis
Dynamic Leadership Development

International Accreditation

The EU Business School MBA is offered in one of four pathways:

MBA
MBA (Project Management)
MBA (Cloud Computing)
MBA (Information Systems)

Offered in conjunction with Dublin Business School (DBS), the MBA is a state-recognized degree that is fully accredited by the Irish government through QQI, the Irish state body for quality assurance of all education and training services. On successful completion, students earn a state-recognized Dublin Business School Master of Business Administration (MBA) degree awarded by Quality & Qualifications Ireland (QQI).

Learn more

EU Munich will hold a webinar discussing all the details of the MBA in Project Management on April 4 at 14:00 CET. Join us to learn more about this dynamic and diverse program!

Register here

Learn more about EU Business School, Munich