Project Analysis and Modeling in Economics

Profession

Every ship needs a captain and a navigator, without whom the ship would sail straight to nowhere. The world of projects is no different from a ship. Every project — from a new building being constructed next door to the most complex IT system — needs someone who can bring the ideas of those projects to life. In companies, the project manager is the captain, overseeing the progress of the project. Business analysts, on the other hand, are the navigator. They have to use specific tools and techniques to keep and develop the project in the right direction for the company. This makes the role of navigator extremely important, as the ship must follow the best and most sensible path to its destination.
Graduates of the specialty are professionals in the modern, in-demand occupations of business analysis, project management and investment activities — business analysts and project managers.
Business analysts, who know how to launch a new business or improve an existing one by identifying its problems and developing solutions to them, first of all analyse company and market data, structure business processes, find points of growth and calculate the economic efficiency of projects. They can draw up a financial model of a project, assess the size of a market niche, prepare different types of reports for top management and visualize the key figures of a business.
Project managers are specialists who solve problems with limited resources and can find unconventional approaches. They can launch a new product, organise an event, or implement internal corporate initiatives which the project manager handles independently. They can plan work, assess resources and risks, control deadlines, and build a good working relationship with the project team and clients.

Educational Process

The specialty courses are practice-oriented and provide students with the skills they would require in their later employment.
The benefits of the educational process are:
1. Lectures provide theoretical background, while seminars reinforce the theory in practice. The acquired knowledge incorporates the latest developments in science, technology and management. The core subjects include “Basics of Microsoft Project”, “Project Analysis”, “Business Valuation”, “Financial Modeling and Business Planning”, “Internet Project Development”, “Big Data”, etc. Elective courses include “Computer-based Business Intelligence Tools”, “Analysis of Mergers and Acquisition Projects”, “Project Risk Analysis”, “Business Intelligence in SAP”, “Data Analysis in R”, etc.
2. Exchange of practical knowledge. Modern information technologies are widely used within the framework of conducted courses such as Microsoft Project, Project Expert, Eviews, enterprise management system MySAP ERP, DBeaver, Anaconda Navigator, Power BI.
3. The curriculum is up-to-date. Courses include real-life examples and recent case studies. Course lecturers are representatives of business community and practitioners, who tell about methods and innovations applied in their projects.
After completion of this programme, graduates acquire the following skills:
— building financial models;
— assessing market volume and the competitive position of key players;
— preparation of reports for senior executives in various applications using big data visualisation tools;
— preparation of P&L and Cash Flow reports;
— project cost-effectiveness evaluation;
— data processing using Python;
— evaluation of project investment attractiveness;
— financial planning for new products;
— processing, analysis, systematisation of statistical data.

Practice

Lecturers of the major are constantly monitoring the current trends and tools of teaching. As part of the education, students participate in business simulation, as a result of which they practice management skills, set strategic goals, make tactical decisions, — they have an opportunity to solve problems faced by project managers and business analysts in a risk-free environment, learn how to work in teams.
Since 2020, the lecturers of the programme, with the participation of representatives of major companies and investment funds, have held an international student competition in project management called “Skyrocket Project”. Participation in the competition allows students not only to demonstrate their acquired skills and knowledge, but also to exchange experiences and ideas with teams from all over the world. All participants receive practical and expert feedback from the jury and mentors, allowing them to further develop their projects in real life.
Students of the specialty conduct active scientific and practical work, participate in student conferences and Olympiads, case championships and master classes, and publish scientific articles.
In the course of their studies, students undergo educationaland pre-graduation internships, as well as work placements.

Career

Graduates of the programme can hold positions as business analyst, project analyst, economist-analyst, project manager or project coordinator, etc.
Business analysts and project managers are in demand in the development of programmes and projects of federal ministries, in banking and finance, industry, construction, telecommunications and other sectors, so career development is not limited to anything.
The main internship bases are such companies and organisations as the Agency for Strategic Initiatives to Promote New Projects, the Russian Pension Fund, the Russian Technological Agency under the Russian Ministry of Industry and Trade, Gazprom, Getspartners and the Ministry of Economic Development.
Many students after completing their pre-graduation internship continue to build a career in these companies.
Graduates of the “Project Analysis and Modeling in Economics” programme have an advantage in admission to graduate programs of the Faculty of Economics at the RUDN University due to active participation in student and scientific life.