According to a report by the Confederation of Indian Industry (CII), the construction industry in India is expected to reach a market size of US$ 1 trillion by 2030 (CII, 2021). The report also notes that the industry will require a skilled workforce with expertise in business management and technology, especially for qualified project managers. Architects and civil engineers who are looking to advance their careers in this sector can benefit greatly from pursuing an MBA in construction project management (MBA-CPM).
An MBA-CPM program provides students with the knowledge and skills they need to effectively manage complex construction projects. This includes skills in project planning, scheduling, cost estimation, risk management, quality management, contract management, leadership, and teamwork. In addition to theoretical knowledge, MBA-CPM programs also provide students with hands-on experience through case studies, simulations, and industry internships. This experience helps students to develop the practical and technological skills they need to manage construction projects successfully.
There are several benefits to pursuing an MBA-CPM for architects and civil engineers in the Indian construction industry.
1. MBA-CPM graduates are in high demand by construction companies, developers, and government agencies. They can expect to earn significantly higher salaries than those without an MBA degree.
2. An MBA-CPM degree can open up new career opportunities for architects and civil engineers. MBA-CPM graduates can move into senior management positions, such as project director, construction manager, and head of operations. They can also start their own construction project management companies.
3. An MBA-CPM program provides architects and civil engineers with the knowledge and skills they need to become more effective project managers. This includes skills that are essential for success in the evolving Indian construction industry, such as the ability to manage complex projects on time and within budget, mitigate risks, and ensure quality workmanship.
4. An MBA degree helps students develop critical interpersonal skills such as leadership, communication, teamwork, and cultural intelligence. In the Indian construction industry, effective communication and teamwork are essential for managing complex construction projects involving various stakeholders, viz. clients, regulatory authorities, contractors, consultants, etc. The construction industry in India is also diverse and involves working with people from various cultural backgrounds, making cultural intelligence an important skill for future leaders to possess.
By providing students with opportunities to work in teams, interact with peers from diverse backgrounds, and learn about different cultures, the MBA-CPM program equips graduates with the necessary tools to work effectively in the Indian construction industry.
5. An MBA-CPM degree from a reputable institution is recognized by employers around the world. This gives MBA-CPM graduates the flexibility to work in any country, especially if the programs are accredited by internationally renowned organisations like the Project Management Institute (PMI), USA, or the Royal Institution of Chartered Surveyors (RICS), UK.
If you are an architect or civil engineer who is looking to upskill yourself and advance your career in the Indian construction industry, an MBA-CPM program is a valuable investment to consider.
Here are a few tips for choosing an MBA-CPM program in India:
By following these tips, you can choose an MBA-CPM program that will help you achieve your career goals and make a significant contribution to the Indian construction industry.
The article is authored by Triveni Prasad Nanda, Assistant Professor, RICS School of Built Environment, Amity University, Noida.