A Bachelors of Arts Degree in Management of Technology - Essay Example

? Sustainability Management Letter of Transmittal (Address April 13, (Address 2) Dear Mr. (Sur Choosing a career is the first real form of adult responsibility that most students undertake. Our mission at Trapeze solutions is to aid you with material required for you to make this momentous decision. After our meeting, we reviewed the information provided by you to us and have come up with a career vector that best fits your needs. This report contains information that will aid you in taking your strides into your dream career. We collected, and included, data and information in relation to you request on certifications that will make you more competitive. This report will cover several areas of vital importance related to the two career paths that we have proposed to you. These are: Work Responsibilities Education requirements Salary and benefits Working conditions Job outlook At Trapeze solutions, we would like to extend our gratitude for choosing to consult with us on your career choice. Should you need to make the next move as you follow the trajectory of your career, please know that we will be here for any service needed, regarding the furthering of your career. We wish you all the best in your goals and endeavors. Sincerely, (Signature) (Name) Career consultancy Manager TABLE OF CONTENTS Page Executive summary……………………………………………………………...…. 4 Introduction ………………………………………………………………………. 5 Project Consultant……………………………………………………………….…. 7 Education Requirements……………………………………………….….. 7 Work Responsibilities…………………………………………………..…. 8 Salary and Benefits……………………………………………………..….. 8 Working Conditions……………………………………………………..…. 9 Job Outlook………………………………………………………………… 9 Project Manager………………………………………………………………….….10 Education Requirements………………………………………………..…. 10 Work Responsibilities..........................................................................….…. 11 Salary and Benefits……………………………………………………...…. 11 Working Conditions……………………………………………………...… 11 Job Outlook……………………………………………………………….. 11 Conclusion and Recommendations……………………………………………..…. 12 Appendices of References……………………………………………………….…. 13 Executive Summary In the present day environment of business the project related field in most sectors is growing at a steady pace. This report is developed to give you a better understanding of two fields in this sector, which are project consultancy and project management. The report will compare the two and recommend the best career choice for you. The reviews include: Academic Requirements Education requirements for project consultancy and project management are both consistent. For either, most companies and institutions will require a bachelor’s degree in Business administration and related fields. The trend also points to preference being given to master’s students in the same field. Certifications are becoming a major standard in both fields. This report gives information about the vital certifications required. Work Responsibilities The project manager directs all activities relating to the project. He manages materials, staff, costs, appliances and machines, and motivates his staff. His role is to manage the everyday activities of the project from initiation to conclusion. The project consultant is involved in the implementation of projects via offering expertise technically, and preparing, communicating and reporting CMS directives. Salary and Benefits The major difference between the remuneration of project managers and project consultants is that the reported average salary of a project manager is $97,000 at the start while that of a project consultant is $85,000. Both positions have benefits that include dental care, vision, long and short-term disability, health insurance, paid holidays and vacations and life insurance. Should the project consultant’s position require them to be on call support there is provision of cell phones or laptops. Working Conditions The two fields have identical working conditions. Both fields involve a lot of office work with some fieldwork. They also involve computer use, with 35-45 working hours sometimes requiring them to work during off hours or weekends. Job Outlook Project management and consultancy have continued to grow over the last decade and are projected to continue growing, especially with the initiation of numerous projects via the stimuli packages given by most governments. These fields are expected to grow by a combined rate of 15% over the next decade, providing numerous opportunities for career graduates. Introduction Business administration and management as a sector has become an irreplaceable cog in the efficient running of most businesses and organizations (Markham, 2004). The rate, at which business dynamics are changing, given the emergence of new opportunities at every turn, should ensure that expertise in this field remains in high demand. The rate of growth being witnessed in many new fields like clean energy technology, among others, should ensure the growth security of this sector. The discussion we had during our interview gave us insight on your interest in the business world; especially your affinity for piloting projects and provides solutions for roadblocks faced in the completion of these projects. After making us aware that you were pursuing a bachelors of Arts degree in Management of technology, in business, we agreed that the best options this gave you was either project consultancy, or project management. Project management involves the planning and facilitation of projects with a goal to complete the job within budget, on time and to manage the ever-changing requirements and needs of projects (Schmidt, 2009). As a project consultant, you would be required to provide information to project teams of cross-functional nature on how to implement company directives, while also offering management and leadership services during their implementation (Wysocki, 2011). Purpose, Scope and Limitations of the Report This report delves into the striking divergence and convergence of responsibilities and duties associated with project management and consultancy while also providing you with recommendations that pertain to your career choice. In order for you to make the most favorable career choice, which suits your talents and desires, this report will focus on offering you detailed information on the various dynamics involved in both career choices. Our focus will be on the academic requirements, duties and responsibilities of both careers, remuneration packages associated with the same careers, job outlook, and prevalent working conditions. Our research also revealed that academic qualifications and hard-earned experience are, but only a part of the requirements needed in today’s competitive business world, especially in your preferred field of project management and project consultancy (Ferraro, 2012). More individual specific factors weight on the minds of corporations and organizations when hiring in this field. Over the years, with experience and understanding of the industry, other certifications not covered in the bachelor’s degree curriculum are becoming vital and almost staple in the qualifications for consideration when hiring in this industry (Firm, 2004). This report will furnish you with the special and specific qualifications that will bring you on a level field with the rest of the field, while also maintaining your competitive edge in the field. We will also provide you with information on how to maintain your competitiveness once established in industry circles. When concluding this report, we will also give you our recommendations based on our advice and the information that you gave us during our discussion. We will recommend one career path, but please read the report before reading our recommendation. This report, however, does not deal with how project management and project consultant relate to other sections and departmental divisions in various companies. This is due to the fact that we might spend more time focusing on inter-departmental relations, rather than the dynamics of your career of choice. Since we could perceive during our earlier discussion that you were set on a career in the aforementioned fields, it was important to focus on them. However, if need be, we are willing to advice you on this otherwise very important dynamic. While it is possible to work as a project manager for one company and do independent consultancy work (Philadelphia: WetFeet, 2009), the scope of this report is to enable you make a choice between these two careers. We feel that combining them would remove us from our stated purpose. Sources and Methods To give you the most detailed and helpful information to help you in your decision, we used the best material on the topic that we could find. These materials included books, electronic sources, and discussions with professionals in this field. The professionals were especially of utter importance in such dynamics as an outlook and remuneration packages offered by several market leading organizations in your field. The books we used were availed to us by the department of Business management at the university of Business studies, which has dedicated itself to offering students solutions to business aspects during their studies. We used Practical Project management by Harvey Levine an industry-respected consultant who gave insight into the expected duties and expectations of a project consultant. Effective project Management by K. Wysocki was another book of great help, while Markham is the top consultant was crucial in deciding on different temperaments and how they are suited for either career. Other books were utilized too. We also used such trusted magazines as Business Weekly, the Manager Weekly and ADWEEK journal. In the report, you will also find nuggets of advice from the Toshiwaku Koizumi, the CEO of Deltaware Solutions, to help you visualize the dynamics of each career. Report Organization The report will cover various aspects of both careers. To ensure that you understand them in a helpful manner, we will organize the report into three major parts. The first section will deal with project consultancy, with the second covering project management. Under each of these fields, we will discus, academic requirements, responsibilities, remuneration and benefit packages, working conditions, and job outlook in that order. Our third section will compare and contrast these fields and make a recommendation based on the results of our comparison, and include the appendices. Project Consultant Project consultants are assigned specific tasks that follow a defined date of commencement and date of termination. In order for the project manager, to direct the project to completion, as well as contribute to its eventual success, he/ she must be highly skilled and organized in their area of subject. A project consultant’s job description varies broadly with concern to their specialty (Firm, 2004). A good example is a consultant who specializes in interior design, while another could help in designing a space shuttle. The two professionals are both project consultants with very varied educational backgrounds. However, disregarding specialty, project consultants have some striking similarities. Educational Requirements Project consultants are highly trained and educated professionals (Anonymous, 2009). A project consultant’s minimal academic requirement is a bachelor’s degree majoring in technical science or business administration. On-the-job training, advanced degrees, and problem solving experience and demonstrated management are vital for advancement. Some fields that employ consultancy services include: Sales and Marketing Business and Finance Computer consultant Publicity consultant Recruitment consultant Some employers also require a Masters in Business Administration, MBA (Philadelphia: WetFeet, 2009). These graduate school programs train a consultant to organize, generate solutions, and strategize while in the complex environment of global business. Course work may consist of ethics, business, negotiations, leadership, finance, management, and marketing exploration. The major requirements are: Bachelor’s degree in relevant field, for example, management science. Masters in Business Administration. Certification in that consultancy field. Some employers may also require voluntary certification to be gained by project consultants (Anonymous 2009). These include: Project Management Professional, (PMP). This requires a bachelor degree completion, and experience lasting three years. This is on top of successful completion an exam. Certified management Consultant, (CMC). This is offered at management, experienced, and basic levels. Each level demands a number of experience gaining years, and specific education, as well as successfully completing a written and oral certification test. Recertification must be done after every 3 years. Work Responsibility One important feature of a project consultant often neglected, or overlooked, is unconditional guarantee (Markham, 2004). Despite there being no tangible products for exchange, a consultant will stand by their intelligence and advice. These act as the warranty or guarantee. A project consultant has several roles in end-to-end implementation (Markham, 2004). These are: Implementation of projects via offering expertise technically, and preparing, communicating and reporting CMS directives Development of project plans to manage project resources and task completion Management and leadership of project teams, cross-functional in nature, in CMS directive implementation Organization of company-wide resolution meetings and cross-functional input Ensuring that post and pre-implementation requirements are satisfactory of timelines, compliance and standards Collection and documentation in order to support CMS directive task completion Legislative mandate compliance via data validation Making sure that the project is adherent to schedule, scope, and budget Gathering, summarizing, and analyzing the information and trends by drafting project reports Salary and Benefits A project consultant’s annual salary, on average, is $85,000 (Markham, 2004). For consultants at the nascent stage of their career, a $70,000 starting pay is expected. As in most other careers, ones pay rate would be expected to rise the longer one serve the company. Senior consultants make about $100,000 after spending some time gaining experience on the job. In short, a consultants salary increase’s with gained experience as is seen in most other careers. Yearly Project Consultant Pay Statistics Average Yearly Project Consultant Salary $68,000 - $102,000 Starting Yearly Project Consultant Salary $56,000 - $84,000 Top Yearly Project Consultant Salary $80,000 - $120,000 (Wysocki, 2012) Monthly Project Consultant Pay Statistics Average Monthly Project Consultant Salary $5,667 - $8,500 Starting Monthly Project Consultant Salary $4,667 - $7,000 Top Monthly Project Consultant Salary $6,667 - $10,000 (Wysocki, 2012) Hourly Project Consultant Pay Statistics Average Hourly Project Consultant Salary $30 - $46 Starting Hourly Project Consultant Salary $25 - $38 Top Hourly Project Consultant Salary $36 - $54 (Wysocki, 2012) The biggest difference between hourly and salary pay is that salary has no correlation with a number of hours worked. The consultant receives the same pay check whether he works 40 or 80 hours a week. However, the consultant does not have to be worried about docked salary if they take a sick leave (Markham, 2004). Project consultants have benefits that include dental care, vision, long and short term disability, health insurance, paid holidays and vacations and life insurance. In case they are required to be on call support, there is provision of cell phones or laptops. Working Conditions Project consultants are normally to be found working in offices or out in the field on the project if it consists of outdoor components. It is common for a project consultant to work remotely via telecommunication. A project consultant has a working week of approximately 30 to40hours, depending on the nature of the project. At times, their expertise may be required over the weekend or even outside the normal working hours if any issues arise concerning the project. Project consultancy demands detail oriented, highly organized, and self-motivated individuals. It is also necessary to have multi-tasking abilities since one may be handling more than one project in the same period, as the projects’ demands may overlap. The job also involves teamwork; thus, the consultant needs to be socially adept, as well as be able to maintain secrets about the company that has their contracts. Job Outlook Due to the recent global financial crisis, and the stimuli packages given to institutions, there are many projects that are underway with the view to improve economic growth. This has trickled down to the private sector. Thus, project consultancy is an in-demand service due to the need of properly managing the projects, especially budgeting (Markham, 2004). Project Manager A project manager works as a professional in the project management field. He is the person responsible for piloting a project through inception, planning, execution, human resource management, project scope, time, cost, and quality (Firm, 2004). He requires discipline in order to formulate attainable and clear objectives, as well as ride with them until the end. The project manager possesses all the responsibility to complete the project, as well as full authority. The position of project manager normally ends, with the completion of the set project. It might also be semi-permanent or until a point in the project schedule that is predetermined (Firm, 2004). Education Requirements The educational requirements for project managers assist the individual to gain ability, knowledge, and methods to construct small or large projects (Ferraro, 2012). Most employers prefer candidates who possess a bachelor’s degree in a program involving project management. Other companies may also prefer degrees from other academic fields like pharmaceuticals or construction. Other employers will also take accredited trade school certifications. Several courses count when one quests to become a project manager. These are: Estimation Accounting Plan reading Acquisitions Management Real estate law Bidding and scheduling Construction safety The skill set needs co-ordination ability, especially for the resources of the various departments and professionals in the organization (Ferraro, 2012). The main academic requirements are: Bachelor’s degree either in project management or another relevant field. Project management certification. Project management Institute (PMI) “Guide to Project Management Body of Knowledge”. Masters degree in project management. This is essential for furthering your career. Masters degree in Business Administration, which is also essential in the furthering of ones career. Work Responsibility A project manager manages the so called five M’s of a project. These are material, money, machine, motivation, and men (Schmidt, 2007). Their main responsibilities are: To deliver performance with increased rates of success. Keeping in touch with the project owners, either the company or outside clients, to keep them up to date with project’s status Lead, motivate and bring the best put of his team. Development of good communication and dialog with team members for the project’s success. Maintenance of confidentiality about the project. Establishment of effective communication between authorities and the employees under him. Solution of problems faced by his team in the incidence of an emergency Responsible for accomplishment of objectives of the project and the outcome. A project manager’s role varies with the project’s nature. However, the main role, whatever the project’s nature, is to motivate and give direction to the employees. This accelerates the project’s pace. Salary and Benefits Median salary expected for a typical project manager is $97,714 annually (Schmidt, 2007). The average hourly charges are $42.57. Salaries are based on the level of the projector manager, as well as the area of management of the project. Entry to so-called middle level projects by a manager will see them earn in the range of $75,500 to $85,000. Senior project managers earn between $86,000- $95,000. On attainment of certifications, a PMP may earn up to $120,000 (Schmidt, 2007). This is at the senior level. Qualifications in this field ensure substantial salary increase on promotion. Project managers have benefits that include dental care, vision, long and short term disability, health insurance, paid holidays and vacations and life insurance. Working Conditions The project manager works in the office and out in the project field. Their typical week consists of 40-50 hours, usually supervising their staff with no supervision themselves since they are in charge of the project. At times, they may be required to work on off hours or even weekends depending on the progress of the project or emergencies. Migraines and back discomfort are two problems that can affect project managers because of stress associated with approaching deadlines. These things also happen as a result of sitting for long period of time trying to work on the project on a computer. Project managers work with teams and interact with consultants, contractors, and the administration. Due to this, effective communication, effective interaction, and skills for equally effective presentation are required. It is mandatory that they be highly detail conscious and organized. Job Outlook As projects are initiated globally after the crippling financial melt down, there is a huge opportunity for talented and cost conscious project managers. This field has a bright outlook, especially in biotechnology and high technology fields. As there are signs of improving economies globally, and with governments stimulating these economies with projects to create jobs, demand for project managers is expected to go up. The labor statistics bureau is predicting excellent growth of jobs in this field, especially in construction through out the year to 2014. The increasing construction complexity is also driving demand up. The outlook is stronger for industries that exhibit huge potential for growth, examples being biotechnology and high technology. Therefore, it is advisable to study in these fields, even if just for certification. Conclusion and Recommendations After undertaking an intensive review of the information collected and documented in this report, as well as the information that you furnished us with, our recommendation is that you should pursue a career in Project consultancy. This career will satisfy your desire for a flexible job. While graduating with a bachelors of Arts degree in Management of technology, we advice that you pursue complementary certifications to prepare you for this demanding career. It is also imperative that you pursue a master’s degree as this will increase your opportunities and your prospects for vertical work advancement. It will be of the essence that you stay in pace with the constant advances in this field, especially as pertains to additional certifications. Being an evolving and dynamic field, there is a recommendation that you refer to us whenever you feel the need, since these certifications are vitally essential. This cannot be emphasized enough. We would be humbled to broaden our sincere gratitude for electing to consult with Trapeze Solutions. It is with confidence that we believe that our recommendations will be of much help as you chart your career path. Should you assert that we could be of further assistance, please be free to contact us. References Firm, V. (2009). The vault MBA career bible. New York: Vault. Retrieved from www.scribd.com/doc/41362457/MBA-Career-Bible Philadelphia: WetFeet (2009). The Boston Consulting Group. Retrieved from http://www.scribd.com/doc/70276816/Careers-in-It-Consulting Ferraro, J. (2012). Project management. New York: AMACOM. Retrieved from: http://amacombooks.wordpress.com/tag/project-management/ Markham, C. (2009). The top consultant: Developing your skills for greater effectiveness . London: Kogan Page. Retrieved from http://trove.nla.gov.au/work/8540838 Schmidt, T. (2009). Strategic project management made simple: Practical tools for leaders and teams. Hoboken: John Wiley & Sons. Retrieved from http://www.docin.com/p-139141097.html Wysocki, R. K. (2011). The business analyst/project manager: A new partnership for managing complexity and uncertainty. Hoboken: Wiley. Retrieved from http://www.insead.edu/facultyresearch/research/doc.cfm?did=46994 Read More