CIMP was established (in 2008) as an autonomous institution under Societies Act, 1960 with active support and help from the Government of Bihar. The institute is expected to contribute meaningfully to the academic and developmental credentials of the state of Bihar.

CIMP offers a two year Post Graduate Diploma in Business Administration which is structured on the lines of leading management institutes of India.

The institute follows, to the extent possible, all practices, systems and processes of the Indian Institute of Management Ahmedabad (IIMA)-an institution of excellence with international reputation.

CIMP focusses on enriching the management education profile of Bihar through training, research and consulting activities. The institute has also initiated centres of research with special focus on the issues pertaining to the development sector of Bihar. The institute will thus contribute to the academic and developmental credentials of the state of Bihar and the whole of Eastern India.

The institute has a focus on activities and programmes that will enhance the quality of management education targeting different segments of beneficiaries through its management development programs. Every milestone that the institute covers shall have a unique propensity to achieve excellence.