Project Management MSc 2021/22 entry

Course code:

FBLT040

Study options:

1 year full-time
2 years part-time

How to Apply
Location:

Coventry University

Starting:

September 2021

 

Fees:

2021/22 fees TBC*
2020/21 fees - £12,600

Find out more

Faculty:

Get in touch

For questions regarding study and admissions please contact us:

+44 (0) 24 7765 4321
Request information

Course code:

FBLT040

Study options:

1 year full-time
2 years part-time

Location:

Coventry University

Starting:

September 2021

 

Fees:

2021/22 fees TBC*
2020/21 fees - £12,600

Find out more

Faculty:

Get in touch

For questions regarding study and admissions please contact us:

+44 (0) 24 7765 4321
Request information

Course code:

FBLT040

Study options:

1 year full-time
2 years part-time

How to Apply
Location:

Coventry University

Starting:

September 2021

 

Fees:

2021/22 fees TBC*
2020/21 fees - £16,600

Find out more

Faculty:

Get in touch

For questions regarding study and admissions please contact us:

+44 (0) 24 7765 4321
Request information

Overview

The globalisation of the business world, coupled with heightened competition, increasing customer expectations and rapid technological advances, has fuelled the demand for projects of all types across almost every industry.

Organisations are looking for professional project managers with the knowledge, skills and expertise to drive forward new ways of working and implement change successfully. Throughout the course, you will have the opportunity to address a range of complex project management issues using different international and organisational examples, with the aim of equipping you to lead projects across different geographical boundaries.

This Master’s course aims to prepare you, upon successful completion, to become a successful leader in the field of project management, and currently holds academic accreditation from the Association for Project Management, the chartered body for the project management profession. Please see the Accreditation and Professional Recognition section for further details. This accreditation aims to provide you with the ability to operate at a level that meets the standards of the project management profession and the expertise required in the field.

The course also offers you the opportunity to study a module accredited by the Chartered Management Institute, meaning you can develop leadership skills alongside specialising in the key skills needed to be an effective project manager. Please see the Accreditation and Professional Recognition section for further details.

Rated ‘excellent’ by Eduniversal, a ranking of business schools in over 150 countries, in 2019, Coventry Business School has been educating business professionals for over 50 years. Through a combination of taught modules, the usage of case studies and internship opportunities (subject to availability, a competitive application process, meeting any applicable visa requirement and additional fees may apply), you will have the opportunity to acquire both the technical and people skills required to become an effective project manager.

Why Coventry University?

An award-winning university, we are committed to providing our students with the best possible experience. We continue to invest in both our facilities and our innovative approach to education. Our students benefit from industry-relevant teaching, and resources and support designed to help them succeed. These range from our modern library and computing facilities to dedicated careers advice and our impressive Students’ Union activities.

To ensure an optimised and continual student experience, the university may deliver certain contact hours and assessments via emerging online technologies and methods across all courses.

Global ready

An international outlook, with global opportunities

Employability

Career-ready graduates, with the skills to succeed

Student experience

All the support you need, in a top student city

Accreditation and Professional Recognition

This course is accredited and recognised by the following bodies:

Association of Project Management (APM)

Association of Project Management (APM)

This course currently holds academic accreditation from the Association for Project Management (APM), the chartered body for the project management profession. This ensures that the course has attained a level that meets the standards of the project management profession, and means that successful graduates will graduate from a course recognised by a leading project management institution.

*This course is accredited by APM or the 2021/22 intake. If the accreditation of this course changes, we would seek to notify applicants and students as soon as possible.


Chartered Management Institute (CMI)

Chartered Management Institute (CMI)

The course also currently includes the Chartered Management Institute (CMI)** accredited module, Global Professional Development - Consultancy. Students who successfully complete the CMI module and meet the CMI evidence requirements will also gain a Level 7 Certificate in Strategic Leadership and Management and a Level 7 Award in Professional Consulting. This will enable you to apply for Chartered Manager status via the qualified route, once all CMI entry criteria have been met (please visit the CMI website for full details on the criteria to qualify as a Chartered Manager and applicable fees).

Coventry University’s accreditation with CMI is currently ongoing for the relevant modules, but is frequently reviewed and monitored by the CMI through their quality systems. If any changes occur with respect to our accreditation related to these modules, we will seek to notify applicants and students as soon as possible.

European Foundation for Management Development (EFMD)

European Foundation for Management Development (EFMD)

Coventry Business School is currently an active member of the European Foundation for Management Development, a global membership organisation dedicated to management development, covering over 900 members across 91 countries. Coventry Business School is recognised by the above membership for the 2021/22 intake. There is currently no intention for this membership to lapse however if this membership were not to be renewed we would notify applicants and students as soon as possible.


Chartered Association of Business Schools (CABS)

Chartered Association of Business Schools (CABS)

Coventry Business School is currently an active member of the Chartered Association of Business Schools, which has a membership of over 120 business schools and higher education providers, and supports its members in maintaining high standards of teaching and research. There is currently no intention for this membership to lapse however if this membership were not to be renewed we would notify applicants and students as soon as possible.

What our students say...

“MSc Project Management has prepared me to be successful in the field of project management. I have obtained relevant knowledge and skills in taught courses as well as a number of workshops, events, and field trips. I applied what I have learned to my internship at Aston Martin as part of my MSc course, handled the inevitable hurdles, and delivered a successful project for my employer. The university provides great support and resource to students, which help me from improving my coursework to exploring the competitive skills to succeed in my career.”

Yu-Ching (Sharon) Chen, MSc Project Management, 2019 Alumni, currently working at Aston Martin Lagonda Ltd, quoted 2020

Course information

The MSc in Project Management course provides an opportunity to develop a strategic and global outlook when managing projects in a wide variety of organisations. It is aimed at students who have previously studied business and management at undergraduate level or have an equivalent level of professional experience. Please see the Entry Requirements Tab for further details.

Whilst you will specialise in project management, the characteristics of the course will also provide a focus on the interdisciplinary nature of the subject and how project management is integrated within organisations.  

The activities that change business processes and practices – the launch of new products and services or the integration of new processes – involve multiple stakeholders and considerable resources, often across many teams and functional units, increasing the inherent risk associated with any organisational change. As a project manager, you can add significant value to your employer or future employer by ensuring that these risks are kept to a minimum.

As well as developing your knowledge and experience of the key project management tools and methodologies, including PRINCE2, PMBOK, APM BoK, and Agile approaches, our strong business focus aims to provide a thorough grounding in strategic thinking, commercial acumen, organisational structures and cultures in order to lead and manage change more effectively.

We will examine the impact of contextual and strategic influences on the management of projects, including investment analysis, governance, legislation, ethical matters, environmental concerns and social and technology changes. We will study contemporary practices, such as sustainability, developing your appreciation of ethical project governance and its role in delivering successful projects in a repeatable way.

Drawing on real-life case studies, such as London Heathrow Terminals, Centenary Square in Birmingham or Olympics, we will consider the global context in which projects often operate, how they are managed, the people and stakeholders who work with and influence project success and the effect of policies, processes and culture.

In your final semester, you can choose to spend time on a company internship, typically lasting eight to 12 weeks (subject to competitive application, availability, meeting any applicable visa requirements and additional fees may apply). In the past, we have supported previous students to take on business and product development roles in companies in the UK, such as Aston Martin or Jaguar Land Rover to mention a few.

This course can be offered on a part-time basis, with study over two years. Whilst we would like to give you all the information about our part-time offering here, it is tailored for each course each year depending on the number of part-time applicants. Therefore, the part-time teaching arrangements vary. Please contact us using our enquiry forms, for UK and EU/International students, for more information about studying this course part-time.

Course Specification
Download PDF

Modules

Overview

During the course, through a variety of modules, we will not only examine the methodologies of project management, but also the impact of contextual and strategic influences on the management of projects, including investment analysis, governance, risk management, culture and ethical matters and environmental concerns. We will study contemporary practices, such as sustainability and responsible management, with the aim of developing your appreciation of ethical project governance and its role in delivering successful projects in a repeatable way.

All modules below are mandatory, and the semester breakdown below is subject to change.

This course includes the Chartered Management Institute (CMI) accredited module, Global Professional Development – Creativity, Change and Innovation. Students who successfully complete this module and meet the CMI evidence requirements will gain a Level 7 Certificate in Strategic Leadership and Management and a Level 7 Award in Professional Consulting. This will enable you to apply for Chartered Manager status via the qualified route, once all CMI entry criteria have been met. Please see the Accreditation and Professional Recognition section for further details.

Modules

  • Business Process Integration

  • Project Management in Practice

  • Strategic Portfolio and Programme Management

  • Project Organisation and Culture

  • Risk Management

  • International Leadership and Management

  • Project Management Methodologies

  • Project Governance and Responsible Management

  • Professional Management Development – Creativity, Change and Innovation

  • Postgraduate Business Project

We regularly review our course content, to make it relevant and current for the benefit of our students. For these reasons, course modules may be updated.

In more detail...

  • Innovative, interactive teaching features educational games and software providing the opportunity to gain practical insights into project management.
  • Opportunity to be part of business simulations (subject to availability). For example, previously, a full day business simulation event with Prendo Ltd. was organised exclusively for MSc Project Management students.
  • Opportunity to be part of a Collaborative Online International Learning Project (COIL), which involves a cross – border collaboration or interaction with students from different backgrounds and cultures (subject to availability)
  • Coventry Business School was rated ‘excellent’ in 2019 by Eduniversal, a ranking of business schools in over 150 countries.
  • Study a course currently accredited by the Association for Project Management (APM), which evidences the course’s focus and aiming to help you to meet the skill level required of professional project managers. Please see the Accreditation and Professional Recognition section for further details.
  • Opportunity to gain hands-on experience of market-leading software packages including: MS Project, Xsol software and SAP, the world’s leading enterprise resource planning (ERP) software provider.
  • Opportunity to attend field trips to multinational organisations within a range of sectors and industries Previous visits have included a visit to Jaguar Land Rover, Coca-Cola European Partners and Manchester United in the UK as well as visits to New York in the United States and Brussels in Belgium. Please note that we are unable to guarantee any field trips or visits including industry visits in the UK or abroad and that any such opportunities referred to on this webpage may be subject to additional costs (e.g. travel, visas and accommodation etc.), competitive application, availability and/or meeting any applicable visa requirements.
  • Access to the Talent Team, a dedicated service for those students seeking placements and employment, with employability staff with knowledge of the project management profession and associated careers.

Your main study themes on this course are:

  • Project management: Aims to prepare you to deliver strategic change and transformation through the management of projects, you will have the opportunity to learn how to effectively plan and execute a project. You will also have the opportunity to develop a sound understanding of the stages, tools and techniques required for project initiation, planning, execution, control and termination. We will also examine the wider context of project management and how inter-related projects and portfolios of multiple projects contribute towards achieving strategic business objectives. 
  • Project organisation and culture: Aims to develop a higher level of understanding of the differing organisational types and the role that organisational structure and its relationship with culture plays in the effective management of projects. We cover a variety of topics, including: organisational structures, roles and responsibilities; strategies for stakeholder management; contingency theory and the environment; and the human elements of project management, such as teamwork, multidisciplinary working, stakeholder communication and engagement.
  • Risk Management: Examine the techniques used to identify, analyse, respond to and monitor risk at various stages of the project life cycle, comparing their applicability and trade-offs. We will cover topic of change and how to manage changes when working on projects.
  • International Leadership and Management: We will introduce you to the key issues, theories and debates in international leadership and management and consider the role of ethics in organisational leadership. Subjects studied will include trait theory, situational leadership, followership, transactional and transformational leadership. As well as viewing the positives of leadership and management, the dark side of leadership will also be considered, including destructive leadership and how leaders and managers can break trust in organisations.

his course can be studied full-time over one year and may also be taken part-time over two years. Whilst we would like to give you all the information about our part-time offering here, it is tailored for each course each year depending on the number of part-time applicants. Therefore, the part-time teaching arrangements vary. If you are interested in part-time study, please contact us using our enquiry forms, for UK and EU/International students.

You will have the opportunity to attend lectures and participate in seminars, using a wide range of technologies to designed to enhance your digital fluency, including Microsoft Project, Microsoft Word, Excel, PowerPoint, social media, lecture based interactive quizzes and databases used to identify and analyse different data sources. These sessions may be delivered through a combination of face-to-face teaching and online classes and tutorials

You will attend lectures and participate in seminars, using a wide range of technologies to enhance your digital fluency, including Microsoft Project, Microsoft Word, Excel, PowerPoint, social media, lecture based interactive quizzes and databases used to identify and analyse different data sources.

The course is highly practical and you will have the opportunity to be exposed to real-life case studies, focusing on projects such as London Heathrow Terminals, Centenary Square in Birmingham or the Olympics. Where possible, you will have the opportunity to work on projects using real-life business scenarios and simulations. For example, you will be required to build a risk management toolkit and uncover methods to implement risk management programmes successfully. 

Many of our current teaching staff are research active and will disseminate up-to-date developments in their fields, which among others include the topics of success and failure of project management, strategy in project management, unexpected events and risk management. Research topics for the project module are chosen in discussion with academic staff and a wide range of potential areas within project management are available – students can examine various project management topics from such themes as stakeholder management, change management, risk management, strategic management in projects, leadership in projects, and international project management to mention but a few.

You will have the opportunity to participate in a range of field trips and industry visits*, at home and abroad, with previous excursions to Manchester United, Jaguar Land Rover, and Coca-Cola European Partners in the UK (subject to availability, additional costs, and where applicable, meeting relevant visa requirements).

*Please note that we are unable to guarantee any placement opportunities, field trips or visits including industry visits in the UK or abroad or overseas study opportunities and that any such opportunities referred to on this webpage may be subject to additional costs (e.g. travel, visas and accommodation etc.), competitive application, availability and/or meeting any applicable visa requirements.

This course will be assessed using a variety of methods which will vary depending upon the module. Assessment methods include the Postgraduate Business Project, reports, presentations, formal examinations, practical coursework and face tests.

The Coventry University Group assessment strategy ensures that our courses are fairly assessed and allows us to monitor student progression towards the achieving the intended learning outcomes. Assessments may include exams, individual assignments or group work elements.

On successful completion, you will be able to:

  • Understand and critically evaluate the role of project management in different organisations at a strategic level in an evolving global environment.
  • Demonstrate a systematic understanding of the current concepts, principles and methodologies available in planning and managing a wide variety of projects from a global perspective.
  • Critically analyse a range of different issues and challenges in the implementation and management of projects, to include people, processes and culture, developing reasoned recommendations and solutions.
  • Communicate effectively with internal and external stakeholders involved in a variety of international projects to include developing written plans, reports and delivering professional oral presentations.
  • Develop transferable professional and practical skills that will demonstrate a responsible, ethical and sustainable approach to managing projects both individually and as part of a team.
  • Systematically analyse and critically evaluate sources of data and information to synthesise business research.

We set out below the typical teaching contact hours that you will receive on this course. In addition to the contact hours below, we offer the opportunity to attend additional optional sessions, such as guest lectures (subject to availability), or to meet with staff during their advice and feedback hours.

As an innovative and enterprising institution, the University may seek to utilise emerging technologies within the student experience. For all courses (whether on-campus, blended, or distance learning), the University may deliver certain contact hours and assessments via online technologies and methods.

Within your first and second semester, you should have around 13 contact hours of teaching a week. The contact hours may be made up of a combination of face-to-face teaching, individual and group tutorials, and online classes and tutorials.

A strong emphasis is placed on the Postgraduate Business Project module in your final semester and therefore total teaching contact hours may be reduced.

In addition, you will be expected to undertake a significant amount of self-directed studying and revising in your own time each week, including some guided study using handouts, online activities etc.

In addition, you will be expected to undertake a significant amount of self-directed studying and revising in your own time each week, including some guided study using handouts, online activities etc.

Coventry Business School organises a number of national and international field visits, which have previously included trips to Paris, Brussels, South Korea, India, and New York, to mention but a few, to visit such institutions as UNESCO and other multinational enterprises to tour their facilities and learn about their operations (subject to availability, additional costs, and meeting relevant visa requirements).

YYou will also have the chance to collaborate with students from other international universities on online international learning projects. We use international case studies and examples throughout the programme; you will have the opportunity to learn direct from international business leaders from across the world, who are invited as guest lecturers on modules to share their knowledge and experience (subject to availability). Furthermore, the international experience of the current course team means you can benefit from the experience of lecturers who have worked within project management and business operations across Europe, North America, and the Middle East.

*Please note that we are unable to guarantee any overseas opportunities and that any such opportunities referred to on this webpage may be subject to additional costs (e.g. travel, visas and accommodation etc.), competitive application, availability and/or meeting any applicable visa requirements. To ensure that you fully understand the requirements in this regard, please contact the International Office for further details if you are an EU or International student.

Global ready

Did you know we help more students travel internationally than any other UK university according to data from the experts in higher education data and analysis, HESA?

In 2018/19, we were able to provide a total of 5,469 experiences abroad that lasted at least five days.

Much of this travel is made possible through our Global Leaders Programme, which enables students to prepare for the challenges of the global employment market, as well as strengthening and developing their broader personal and professional skills.

Explore our international experiences

1st for

international experiences

Sending more students overseas than any other UK uni 2016/17


5,469

Student experiences

The number of student trips abroad for at least 5 days in 2018/19


12,000

and counting

The number of students we’ve helped travel internationally since 2016

12

global programmes

As well as trips, we offer other opportunities like language courses


What our students say...

“Overall, I am glad I am undertaking this course. It has a lot to offer to prepare students to become successful project managers. The modules were connected and helped to understand the whole picture of project management. The practical examples in the lectures were nice as well as the activities”

Kristýna Zumrová, MSc Project Management, Alumni 2020, quoted 2020

Entry Requirements

Applicants should hold an honours degree 2.2 or above in a relevant academic discipline, such as business management, or project management.

Applications from candidates who can demonstrate experience at an appropriate professional level but who do not have formal academic entry qualifications may also be admitted on an individual basis. Please contact us to discuss any relevant experience through our enquiry form.

Applicants should hold an honours degree 2.2 or above in a relevant academic discipline, such as business management, or project management.

Applications from candidates who can demonstrate experience at an appropriate professional level but who do not have formal academic entry qualifications may also be admitted on an individual basis. Please contact us to discuss any relevant experience through our enquiry form.

 

English as a Foreign Language: This course requires IELTS of 6.5 overall, with no component lower than 5.5. Pre-sessional English is available if required.

Our International Student Hub offers information on entry requirements for your country, as well as contact details for agents and representatives should you need more advice.

More detail

Applicants should hold an honours degree 2.2 or above in a relevant academic discipline, such as business management, or project management.

Applications from candidates who can demonstrate experience at an appropriate professional level but who do not have formal academic entry qualifications may also be admitted on an individual basis. Please contact us to discuss any relevant experience through our enquiry form through our enquiry form.

English as a Foreign Language: This course requires IELTS of 6.5 overall, with no component lower than 5.5. Pre-sessional English is available if required.

Our International Student Hub offers information on entry requirements for your country, as well as contact details for agents and representatives should you need more advice.

More detail

What our students say...

At Coventry University, the study environment is fascinating, with a lot of cultural diversity, which I found very interesting. The MSc in Project Management had a practical environment and the teaching team could not be more helpful and supportive, which in my opinion has a great impact for those who are getting into the working world for the first time. There are also great teams that help the students networking with incredible companies for future jobs, and later, advising and preparing the students for the interviews and selection processes. Summing up, doing my Master Degree at Coventry University was one of the best decisions I made in my life.   

Rafaela Neves, MSc Project Management Alumni 2019, quoted 2020

Tuition Fees

We pride ourselves on offering competitive tuition fees which we review on an annual basis and offer a wide range of scholarships to support students with their studies. Course fees are calculated on the basis of what it costs to teach each course and we aim for total financial transparency.

Starts

Fee


September 2021

2021/22 fees TBC*
2020/21 fees - £12,600 (per year)


Scholarships

If you're a truly outstanding undergraduate candidate we may be able to offer you a Coventry University Scholarship. Coventry University Scholarships are awarded to recognise truly exceptional sports achievement and academic excellence.

Starts

Fee


September 2021

2021/22 fees TBC*
2020/21 fees - £12,600 (per year)


Scholarships

If you're a truly exceptional candidate we may be able to offer you a Coventry University Scholarship. Coventry University Scholarships are awarded to recognise truly exceptional achievement and academic excellence.

Starts

Fee


September 2021

2021/22 fees TBC*
2020/21 fees - £16,600 (per year)


Scholarships

If you're a truly exceptional candidate we may be able to offer you a Coventry University Scholarship. Coventry University Scholarships are awarded to recognise truly exceptional achievement and academic excellence.

EU student fees

EU nationals and their family members starting in the 2019/20 academic year remain eligible for the same fees as home students and the same financial support. Financial support comes from Student Finance England, and covers undergraduate and postgraduate study for the duration of their course, providing they meet the residency requirement.

For tuition fee loans

EU nationals must have resided in the European Economic Area (EEA) or Switzerland for the three years prior to the start of their course. The purpose of that three year residency should not have been mainly for the purpose of receiving full time education.

For maintenance loans

EU nationals must have resided in the UK and Islands for the five years prior to the start of their course. The purpose of that five year residency should not have been mainly for the purpose of receiving full time education.

What our students say...

“At Coventry University, the study environment is fascinating, with a lot of cultural diversity, which I found very interesting. The MSc in Project Management had a practical environment and the teaching team could not be more helpful and supportive, which in my opinion has a great impact for those who are getting into the working world for the first time. There are also great teams that help the students networking with incredible companies for future jobs, and later, advising and preparing the students for the interviews and selection processes. Summing up, doing my Master Degree at Coventry University was one of the best decisions I made in my life.”

Rafaela Neves, MSc Project Management Alumni 2019, quoted 2020

Career prospects

Graduate Immigration Route visa

Based on current information from the UK Government, international students whose study extends beyond summer 2021 may be eligible for a visa under the UK Government’s Graduate Immigration Route, which will enable students to stay and work, or look for work, in the UK at any skill level for up to two (2) years. Check the most up to date guidance available to check your eligibility and any updates from the UK Government before making an application or enrolment decision.

The course aims to help prepare you for a variety of project management career options, upon successful completion, by exploring how to be an effective leader in the field of project management, and how to address the complex issues currently facing project managers in a variety of organisational settings, whether in the public, private or voluntary sector.

Upon successful completion, you should develop advanced capabilities in strategic thinking, effective communication and research, all directly relevant to employers and of great value when seeking future employment. Upon the successful completion and meeting CMI requirements on the Global Professional development module, you will gain a Level 7 Certificate in Strategic Leadership and Management and a Level 7 Award in Professional Consulting, which are highly regarded by employers. Please see the Accreditation and Professional Recognition section for further details.

We recognise the importance of preparing students for the working environment and have invested heavily in providing the support and opportunities for our students to help to enhance their graduate employment prospects. Every student within the Faculty has access to an Employment Personal Tutor (EPT), aligned to their area of study, to work with them throughout their course. Many of our EPTs have previously worked in industry and have experience of the recruitment process, so they understand the labour market, the skills employers look for and the processes used by employers to select candidates.

Global Leaders Programme

To prepare students for the challenges of the global employment market and to give them the opportunity to strengthen and develop their broader personal and professional skills Coventry University has developed a Global Leaders Programme.

The objectives of the programme, in which postgraduate and eligible undergraduate students can participate, is to provide practical career workshops and enable participants to experience different business cultures.

The Global Leaders Programme is subject to application and additional fees.

 

What our students say...

I gained practical experiences and meaningful knowledge from the teaching team. Moreover, excellent academic support also provided and allowed me and my fellow students to achieve great outcomes. I believe that I have been prepared to confidently enter the workforce with a competitive set of skills, and professional attitude from Coventry University.

Le Hua Xuan Quynh, MSc Project Management Alumni 2018, currently at SAIGONTECH Saigon Institute of Technology, quoted 2018
Disclaimer

By accepting your offer of a place and enrolling with us, a Student Contract will be formed between you and the university. A copy of the 2020/21 Contract can be found here. The Contract details your rights and the obligations you will be bound by during your time as a student and contains the obligations that the university will owe to you. You should read the Contract before you accept an offer of a place and before you enrol at the university.

The tuition fee for the course that is stated on the course webpage and in the prospectus for the first year of study will apply. We will review our tuition fees each year. For UK and EU students, if Parliament permit an increase in tuition fees, we may increase fees for each subsequent year of study in line with any such changes. Note that any increase is expected to be in line with inflation. Following the UK’s exit from the European Union, EU students should be aware that there may be a change to UK laws following the UK’s exit, this may change their student status, their eligibility to study part time, and/or their eligibility for student finance. We will act in accordance with the UK’s laws in force in relation to student tuition fees and finance from time to time.

For International students the tuition fee that is stated on the course webpage and in the prospectus for the first year of study will apply. We will review our tuition fees each year. For international students, we may increase fees for each subsequent year of study but such increases will be no more than 5% above inflation.