Power Management

Power Management is a division of management that deals with the efficient utilization of energy for greater value creation for an organization. Presently, we need power to run our homes, offices and all other small things. As world inhabitants are increasing and machines are taking place of men at work, we need heavy amount of energy to perform day to day tasks. Energy can be obtained from any source like petroleum, water, wind and coal. A program in power management trains candidates in the field of designing planar magnetic, layout considerations, operation management, construction or power supply, power control and designing digital telecom rectifier. The aim of a course in power management is to empower candidates with unique skills which are required to administer as well as control the regular power supply and computer requirements. List of Courses: -

Master of Business Administration in Power Management Master of Business Administration in Petroleum & Power Management Post Graduate Diploma in Power Management

Basic Eligibility
UG: For admission in a bachelors degree, the candidate must have passed the higher secondary school certificate (10+2) examination. The duration for this course is 3 years.

PG: The eligibility criteria for pursuing a masters degree are holding a bachelor's degree. Students will have to attend an entrance exam such as MAT/CAT/XAT or ATMA to get admitted into this course. The duration for this course is 2 years.

Specializations
Some of its specialized fields are: -

Financial Derivatives Global Power Business Power station management Hydro power resources management Organization change and development Strategic cost management and control

Job Prospects
There are a lots of career opportunities in this field. Students after completion of their course in this field can have various jobs as business development manager, energy dealer, price analyst and director of operations. Professionals can also seek employment in both government and private organizations such as NTPC, Power Finance Corporation, Damodar Valley Corporation, and Power Grid Corporation of India Limited. Some public sector organizations are also employing the candidates from institutes through campus interviews. In the starting, selected candidates have to work on probation for 1-2 years and on the

successful completion of probation period they are taken in regular pay scale. Skilled professionals in this career can also opt for teaching jobs in universities and colleges. Some job profiles: -

Consultant Professor Vice presidents Surveyor Plant Manager Product Manager Assistant Manager Operations managers -

Remuneration:

The remuneration of a professional mainly depends on the factors such as the company, job profile, qualification, skills and work experience. Students after completion of their course in power management can expect income around Rs. 15, 000 to Rs. 25,000 every month in the beginning stage. After gaining experience it can go up to more than 30,000 per month. Graduates working in teaching profession can earn handsome salary. Graduates from this field can make his/her career in any of the following fields: -

Power Trading Power Planning Carbon Financing Market Power Resource Management Power Sector Laws and Regulations Clean Energy Development Mechanism Power Project Planning and Financing Power Generation, Transmission and Distribution Economics of Power Demand and Supply and Policy Aspects

Power is the one of the most vital inputs to the socio-economic development of the country. The projected growth of Indian economy largely depends upon the performance and growth of the power sector. As estimated, India needs to augment power production to 8 lakh mega watts from the current 1.6 lakh mega watts to sustain present economic growth in next 25 years. In post reform era, Indian power sector has witnessed radical changes in terms of restructuring of the erstwhile State Electricity Boards (SEBs). Today, along with government companies, large numbers of private players have taken over a significant portion of Indian power sector particularly in generation and distribution sides and the sector is all set to see large number of private players in the years to come. The rapidly expanding power sector tenders abundant opportunities for the qualified, talented, capable and young graduates and post graduates with diversified backgrounds like engineering, commerce, finance, accounts, human resource, law and logistics etc. Since the purview of power sector is very wide-ranging and it includes large number of activities therefore, it seems too difficult to cover all available career opportunities in the sector in this single article. This article is confined to discuss the available job prospects only for graduates and Post Graduates in power management

(MBA-power graduates) as the growing size, diversities and complexities of the power sector pose challenges to the power managers to manage the enormous activities efficiently and effectively. Job Prospects for MBA-power graduates Though MBA degree has been quite popular in India since the opening of economy in mid 1990s, MBA in power management is a comparatively new course. Persons holding power management degree have ample employment opportunities in private as well as public sector. In these days of globalization and liberalization, it is likely to get further momentum as more power managers would be required to deal with the growing complications of rapidly expanding Indian power sector. There are many areas where MBA-power graduates are heavily required such as power resource management, environment impact assessment, power auditing, power efficient systems/technologies, power generation, transmission, distribution, power sector laws, power policies, power security, power pricing, power economics, power tariffs and power trading etc. Opportunities in Public Sector There are many governmental organizations such as National Thermal Power Corporation, Damodar Valley Corporation, Power Finance Corporation, Power Grid Corporation of India Limited, various state level power generation companies and power suppliers that are providing ample job opportunities to MBA-power graduates. These companies are advertising the vacancies in leading national/ local newspapers and posting the same on their websites. These companies usually ask for 60 percent or above in graduation and post graduation level. A person fulfilling the eligibility criteria can apply for the post after depositing the fee amount. Their recruitment process consists of mainly three stageswritten test, group discussion and personal interview. Sometimes, a technical interview may also be conducted. The final selection is based on the overall performance of the candidate. Reservation to SC/ST/OBC/Ex-serviceman/physically handi- capped candidates is extended as per government rules. A few public sector companies are also hiring the candidates from some elite B-schools through campus interviews. In the beginning, selected candidates have to work on probation for one or two years and on the successful completion of probation period they are absorbed in regular pay scale. Opportunities in Private Sector Private sector has a great role to play in Indian power sector. As already discussed, there are many big names that have registered their strong presence in the sector. At present, private sector accounts for 19 percent in the total installed capacity of nation and it is set to increase about 5 times in next 6 to 7 years. Moreover, in addition to power generation, now private players are extending financial and technical assistance to government in erecting power plants and other facilities, financing the ultra mega power projects, involved in power trading, evolving clean energy development mechanism, supplying the power and managing the energy resources etc. Thus, it goes without saying that huge job potential exists in rapidly growing private sector for MBA-power graduates. As far as their selection criterion is concerned, it varies from company to company. However, most of them are hiring on the basis of personal interview of eligible candidates. Private companies are also approaching top notch Bschools for campus selection. Power Consultancy MBA-power graduates can also work as an independent power consultant after obtaining adequate experience and expertise. Power consultants advise power producers and suppliers on different issues such as installation of power plant, efficiency of plant, optimum resource mix, quality and reliability of power, impact on environment, reducing emission of hazardous gases, curtailing transmission and distribution losses, power auditing, compliance with government norms and ensuring uninterrupted supply to end users etc. Besides, there are many other functional and operational areas where they may extend an expert advice. They also render their services to commercial and industrial establishments.

As a power consultant has to assess wide ranging, complex, technical and critical issues of power sector, one needs to gain adequate experience, skill and knowledge before beginning to work as a consultant. The power management graduates who have been blessed with inherent entrepreneur acumen may find it a fascinating career option. Teaching MBA-power graduates with good academic record, particularly holding Ph.D degree or published work of a high standard, can take up jobs in any university/institute offering power management courses to students. There is wide scope for visiting faculty as private universities are coming up in large number and they prefer such persons because of their eminence and acumen. Possessing prescribed passing score in UGC-NET examination is a desirable qualification for teaching profession. Remuneration Remuneration depends upon the field a MBA-power graduate chooses. If one prefers to work in a government department or in public sector or in a university or in any other organization where government rules are applicable he/she will be entitled to get emoluments as per pay scales prescribed by the government from time to time. The salary depends on the designation and nature of work. In private sector, national and multinational companies are hiring young MBA- power graduate on good annual packages depending on the standing of the company. However, power graduates who begin to work as power consultants may have to struggle in the early stage but their knowledge and steady efforts may help them to succeed at the end of day. The earnings of a well-settled consultant may see no boundary. Course Details & Eligibility Criteria MBA-power management course is designed with an objective of developing business acumen among the students and to equip them with the knowledge of the concepts, theories and managerial skills required for the effective management of power sector. It intends to develop efficient business leaders and decision-makers capable of running power sector effectively and efficiently. One can either pursue a two-year MBA course in power management after graduation in any branch of engineering or a five-year integrated course after twelfth standard examinations, leading to a B.E., MBA degree . However, some universities like University of Petroleum and Energy Studies requires only graduation with Physics, Chemistry and Mathematics as compulsory subjects. Most of the universities/ institutes ask for minimum first division on graduation level. The candidates must have appeared either in CAT or MAT examination. Though most of the universities conduct their own written test, however students who have scored minimum prescribed score in CAT and MAT examination are exempted from their written tests. They only need to go for group discussion and personal interview. The final selection is made on the basis of master merit list. The MBA-power management programme necessarily includes about eight weeks summer training project in a power or associated company after completion of first year. This is the compulsory requirement for the completion of the course. Other than MBA-power management degree, many universities also offer other BBA degree in power management that is a graduation level course. After completing MBA-power management, one with an appetite for research can also join Ph.D. course. Fields of Power Sector An MBA-power graduate can make his/her career in any of the following fieldsPower Resource Management Power Generation, Transmission and Distribution Carbon Financing Market Power Trading Power Project Planning and Financing

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Clean Energy Development Mechanism Power Sector Laws and Regulations Economics of Power Demand and Supply and Policy Aspects Power Planning