Should Your Project Manager Have A Masters Degree?
Good To Have A Masters Degree In BIM
Most construction business owners face a dilemma in assessing the values of paying for their employee’s masters degree education. It’s logical to reduce the overhead expenses in eliminating or reducing the benefits of education especially when the profit margins are slimming. Though this cost-cutting effort might seem reasonable on the surface, the magnitude of having an employee stagnant in their learning may turn the costs of saving that could expand as the business grows. As the competition increases, projects grow in complexity as there are upcoming complexities of software systems in the construction landscape there are chances of increased demand for masters degree employees.
With the present expectation that the entry levels for the construction professional earn a management in construction undergraduate degree, the notion of continued learning is currently turning towards a graduate level of education. There is a full anticipation that the incoming professional with a master’s degree possesses more managerial focus other than the trade-savvy of the organization.
Masters Degree Can Be Future Demand
A master’s degree is valuable for the better success in the construction world based on an increased use of technology and data. From the Building Information Management (BIM) to the many advances in project management and surveying, many can prove to the fact that the necessity for amaster’s education is desirable and or even necessary. The expectations of the competency of the employees are rapidly increasing, and will further increase in the long term and near future, as this is evident in most sectors of the economy.
Undergraduate education in the construction management has done a fair and legitimate work at teaching the managerial and technical aspects of the project management. A master’s education in construction management, on the other hand, handles a much broader area based on understanding the areas of productivity assessments, keeping up and management of the technology cutting edges and the overall administration of the portfolios of projects.
Many owners of various construction companies concede that they learned through the hard-knock schools when they developed and created their businesses. The experience they gained from their failures and successes had a significant cost in their lives just like getting a formal education. Some argue that the losses incurred would have been better mitigated by a formal education.
An executive manager of a construction company can turn his or her company’s annual losses to great annual profit gains after completing their master’s degree. In master’s education, they are being taught on how to put their business together, in such a way that they can make it financially successful.
In the survey and study of the graduate degrees predictive analysis, the U.S. Bureau of Statistics and Labor, predicts that there is likely 24% increase in the demands for professionals with management and analysis skills in the next decade. There is an argument that this trend has been fueled by the growth in the use of analytics of business by various companies so that they can easily understand the detonation of data which significantly adds value to the firm through assessments.
A study carried out by Jagger and Connor on the trends of employment indicates that the employment of postgraduates has considerably grown. There is an expectation shortly that the supply of Masters degree holders would increase especially in the construction sector.
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