Operations Management Degrees

Overview

The business definition for operations management is the maintenance, control, and improvement of organizational activities that are required to produce commodities or provide services to consumers. It is generally associated with the manufacturing sector and at times is used in the service sector. The measurement of operations is done through a method called business appraisal and is monitored by quality management techniques like ISO 9001 quality systems. The job of an operations manager is to plan, coordinate, and direct the day to day operations of the company or organization. There are many activities involved in the positions, so training must include a diverse set of classes and instructions.

The curriculum of an operations management degree includes operation strategy, product design, process selection, quality management, statistical process control, service delivery and quality, and global supply chain management. They also include subjects like information systems, administrative theory, supply chain management, microeconomics and human resources management. You may also have to learn finance, managerial accounting, policy, project management, and management science.The duration of the operations management degree may range anywhere between two and five years, depending on the school or the program you choose.

Benefits

The earning potential of operations managers and the scope for growth, even as you start out at an entry-level position, is the major advantage of obtaining this degree. The median salary for operations managers in United States may vary between $50,000 and $90,000 per year. The salary increases as you gain experience in the field. Operations managers have vast job titles such as chief operating officer (COO), associate director, vice president (VP), general manager, and operations supervisor.

Costs

The cost of pursuing the operations management degree varies depending on the college or the program you have chosen to study. The average cost for earning a bachelor's degree is $15,862 for 17 credits. A master's degree in operations management might cost $23,706 for a year, while for a PhD degree you can spend up to $13,000.

Schools

There are many colleges and schools in the United States which offer operational management degrees. Georgia Technical College, Texas A&M University, and the University of Maryland are some of the colleges that are offering bachelor's degree in operations management.

Testing & Preparation

If you wish to pursue bachelor's degree in operations management, you must have completed high school with a minimum grade point average (GPA) score of 3.3. You may also have to take the Graduate Management Admission Test (GMAT), Graduate Record Examination (GRE), and Test of English as a Foreign Language (TOEFL), completing them with a reasonable score, depending on the level of degree you wish to pursue. For pursuing the master's degree, you must have completed bachelor's degree from an accredited college and are also required to take up the above mentioned tests.

The three qualities that are of great importance for an operations manager are analytical and quick thinking, people skills, and leadership.

Financial Aid

Students who pursue operations management degrees from accredited technical schools, colleges, or universities are eligible for financial aid. The financial aid is usually available in the form of a scholarship, grant, or loan. You can contact the schools, as many colleges provide concession in fees for in-state students; however, they also provide financial aid for other students too. The Project Management Institute Educational Foundations provide financial aid and scholarships for deserving students.