Overview
Earning a Diploma of Project Management represents a significant investment of time, requiring 1-2 years of study, and can cost several thousand dollars. Is it worthwhile for the career boost it offers, when combined with industry experience and a talent for managing projects?
The major advantages of the course include its comprehensive coverage, practical focus, and affordability compared to university programs. These benefits need to be weighed against the drawbacks, including its long duration, non-tertiary status, and significant risks of non-completion.
What Does the Qualification Do?
A Diploma of Project Management provides transferable knowledge and skills with which to lead projects confidently. Graduates have well-rounded project manager expertise. The core units in the program explore managing project scope, time, quality, cost, human resources, information and communication, risk, and project integration.
The purpose of the course is to provide practical training and a recognised qualification for professionals who aspire to be project managers. It is suitable for individuals already working on projects, whether small or large, or those with experience in project administration.
Graduates have a strong understanding of how to manage projects in a structured, well-organised fashion. The course fills in knowledge gaps, reduces the likelihood of mistakes, and improves one's ability to communicate and work with other project professionals. It also qualifies you for jobs requiring certification or credentials in this discipline.
Related: How to Become a Project Manager in Australia
How Does a Diploma Compare?
Compared to other project management qualifications, a diploma is a relatively long course. However, it is vocational and has minimal entry requirements, making it highly affordable. Online students are generally required to pace themselves, studying solo rather than as part of a virtual class.
Project management course comparison
| Qualification | AQF level | Subjects | Duration (P/T) | Average cost | Online study mode |
|---|---|---|---|---|---|
| Certificate IV | 4 | 9 | 12 months | $4,106 | Self-paced |
| Diploma | 5 | 12 | 18 months | $5,743 | Self-paced |
| Graduate Certificate | 8 | 4 | 8 months | $15,000 | Virtual classes |
| Graduate Diploma | 8 | 8 | 16 months | $30,000 | Virtual classes |
| Masters | 9 | 12 | 24 months | $45,000 | Virtual classes |
Sources: Australian Qualifications Framework; Project Management Course Cost Comparison
Advantages
1. Good employment area
Project management is a lucrative and in-demand occupational field. Project managers earns around $140k annually, with IT project managers averaging $145k. Australia's skilled occupation list for migration identifies Construction Project Manager, ICT Project Manager, Program or Project Administrator, and Project Builder among the roles where there is unmet demand.
2. Highly affordable
For a long course that qualifies professionals for many high-paying roles, a Diploma of Project Management is relatively cheap. It has an average cost of just $5,743, even before deducting state subsidies available to many students. By comparison, higher-level qualifications such as a Graduate Certificate, Graduate Diploma, and Master's Degree cost significantly more, averaging $15k, $30k, and $45k respectively.
3. Comprehensive program of study
The program thoroughly covers the key dimensions of managing projects. Each course contains 8 core subjects and 4 electives. Every graduate has gained skills to manage human resources, mitigate risks, facilitate information and communication, controll costs, ensure quality, integrate project components, define project scope, and handle timelines.
4. Well recognised qualification
Vocational education and training (VET) courses are a very popular alternative to university in Australia. Employers understand diplomas as accredited qualifications earned after completing a significant program of study with a practical focus.
5. Low academic requirements
On the training.gov.au website, an initiative of the Australian state and territory governments, the entry requirements for BSB50820 - Diploma of Project Management are described as "Nil." The course is open to anyone. By contrast, admission requirements for university courses include a bachelor's degree or, in some cases, extensive professional experience. In the Australian Qualifications Framework, a diploma is at Level 5, whereas postgraduate courses start at Level 8.
Disadvantages
1. Duration of 1-2 years
The guideline for diplomas in Australia is that they take around 1-2 years of full-time study to complete. We estimate that an online PM diploma done on a part-time basis will normally take 18 months. The 12-subject course represents a substantial commitment of time, requiring an extended period not working or an even longer timeframe balancing work with part-time study.
2. Limited achievement
While employers may value the commitment of project management diploma graduates to their learning, the qualification itself does not signal academic excellence. Courses are accessible to anyone and can be completed with consistent effort, almost regardless of academic ability. Some employers specifically ask for tertiary qualifications in project management, which excludes diplomas.
3. Risk of non-completion
Diploma courses tend to be affordable because they are self-paced. The low cost and nature of this form of study contribute to high dropout rates. Without a significant financial investment, there is minimal penalty, and therefore little deterrence, from dropping out at a low point in the long learning journey. Furthermore, students are given materials to work through independently, which requires discipline.
By contrast, virtual classes that characterise online university courses are associated with higher motivation. Students adhere to a common weekly schedule and have more online interaction with instructors and classmates, offering a greater sense of shared experience.
Related: Characteristics of Successful Online Learners
Study Online
An online diploma in project management builds a solid foundation of knowledge to complement experience gained from working on or leading projects. You can complete this kind of course while still being able to manage other responsibilities.
Studying online is a time-efficient way to boost your career. Online learners often continue to work while they study, allowing newfound knowledge to be rapidly applied in a practical setting.
Project management is well-suited to an online format as the subject matter, including conceptual frameworks, strategies, and communication skills, can be easily learned through online coursework. Additionally, the abstract and high-level aspects of being a project manager are readily learned via an online program.
Related: Project Management Courses Online in Australia
Is It Worth It?
A Diploma of Project Management is a good course if you have been working on projects in some capacity and want to improve your project manager job prospects with training and a specialist qualification. It is designed to provide a well-rounded education for aspiring project managers.
The main question may be whether there are better options. If you just want exposure to professional methods and gain a qualification, a Certificate IV in Project Management Practice may be preferable. It is cheaper and, with just 9 subjects, is a shorter course. Some project manager job postings mention this as a minimum requirement.
To gain a tertiary qualification, the easiest option is a Graduate Certificate in Project Management. This consists of just four subjects and can be completed in 8 months of part-time study online. A previous university degree is not normally required to start. To deepen your education, you could continue studying for a Graduate Diploma (8 subjects) or even a Master's (12 subjects).
The diploma may be the best option if you can see yourself quickly working through the usually self-paced course. With minimal stress and at relatively low cost, you could earn a solid qualification to help you access more project manager roles.
Project Manager Degree
Did you know most project managers choose university-level study to advance their careers? Options range from shorter graduate certificate courses to graduate diplomas and master's degrees. These postgraduate courses are accessible to many experienced professionals, even those without a bachelor degree.
A project management degree is a robust way to boost management and communication skills. It covers crucial principles and practices for complex projects, broadening your expertise and fortifying weaker areas. Such courses can also fulfil educational requirements for professional certifications.