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PGDM in Project Management vs. Risk Management: A Detailed Analysis

26 February 2024

The field of Business Studies has grown incredibly over the years. This also has led to the growth of newer courses of study with varied specialisations. These courses have been designed by professionals after understanding the global markets, needs and industrial opportunities. PGDM in Project Management is concerned with the research, study and implementation of strategies after understanding the project needs from ideation to development and functioning of the product. Whereas Risk Management is related to understanding and predicting the possible risky conditions and the effective management of the same. In this blog, let’s unravel the characteristics and features of both courses along with the list of available career opportunities.

PGDM Project Management vs Risk Management: Course Duration and Eligibility

PGDM courses for the specialisation streams of Project Management and Risk Management have been designed for 2 years. The syllabus is inclusive of theory papers, projects and internships.

The eligibility criteria for pursuing a PGDM in Project Management and Risk Management are having completed a bachelor’s degree with an overall aggregate accepted by the university. Having a prior background knowledge in the commerce field is a plus upon considering the course structure and syllabus.

PGDM Project Management vs Risk Management: Course Curriculum

The course curriculum for both streams has been designed extensively by effectively including theoretical and practical features that are essential while stepping into the job industry.

Subjects included in PGDM Project Management: Principles of Management, Indian Economy and Policy, Business Communication, Accounting for Managers, Marketing Management, Legal and Business Environment, Management Information System, Human Resource Management, Research Methodology, Strategic Management, Business Analytics, Financial Management, Project Management, Project Analysis and Integration Management, Project Execution Control and Closure, Supply Chain Analytics, Financial Analytics and Marketing Analytics.

Subjects included in PGDM Risk Management: Strategic Risk, Data Privacy, Financial Risk Management (FRM), Cyber Security Risk, IT Risk Management, Financial Reporting Risk, Enterprise Risk Management (ERM), Regulatory Compliance, Third-Party Risk Management, Environment, Social, Governance (ESG), Corporate Governance, Applied Data Analytics

PGDM Project Management vs Risk Management: Career Opportunities

Economic, educational and technological advancements directly resulted in a job increase in the market. Below are some of the job opportunities available for graduates of PGDM in Project Management and Risk Management.

Career Options for Students Opting for PGDM in Project Management

  1. Project Manager: Oversees the execution of projects closely and parallelly works on the budget and time constraints.
  2. Project Analyst: Engaged in gathering data and researching to produce appropriate interpretations for the effective building of strategies and execution.
  3. Director of Operations: Actively involved in budgeting, overviewing the functioning of the project and tackling limitations fruitfully.
  4. General Manager: Engaged in controlling the overall operations of the company and simultaneously works profitable revenue generation of the company.

Career Options for Students Opting for PGDM in Risk Management

  1. Senior Risk Analyst: Engaged in assessing the potential risk after cross-examining the data files and ensuring the risk policy and guidelines are followed without fail.
  2. Investment Risk Manager: Works as a reliable support for investment strategies and regulatory features of a company.
  3. Risk Management Analyst: Involved in researching, analysing and finding out the underlying potential risks involved in acquisitions and operations.
  4. Financial Risk Consultant: Helps the company to identify and effectively solve the financial risks involved with daily operations and other transactions.

In Short,

The present population are privileged by the numerous course specialisations and career opportunities they are exposed to. Educational advancements have bettered society and student life in every aspect. PGDM course streams of Project Management and Risk Management open the door to a dynamic world of career opportunities for students. The course design fosters skill enhancement and knowledge nourishment, which in turn helps them to face the working world with confidence. As we discussed, Project Management revolves around the overall functioning and insider details for achieving the targets. On the contrary, Risk Management is involved with assessing the potential risks and efficiently solving them.

For anyone to succeed in any career profile, it is important to choose the subjects wisely after much research, as a well-informed decision can bring you closer to a rewarding career.

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