If you were to have a Master's degree to be a good project manger/business analyst, what would you choose?

If we are thinking from a system/software view, then a master in IT is the answer, if you are looking to understand the wider business from a functional level, you need to get a Master of Management or a Master in Business Administration.
However, there are specialised professional qualifications, such as ITIL, PMP, PRINCE2, CAPM, CBAP, and CCBA (to name a few) that may help you obtain the skills required

 MBA in Information Technology Management

 

http://www.floridatechonline.com/graduate-masters-information-technology-management/

 

Master's degree in management, preferably in marketing and finance, with engineering background.

Information technology

CBAP first then PMP

why, cause if u r the primary focal person in each project, u s

start from phase ONE

ur the one who provides fully documented deliverable of each project

u do the follow up for each phase in the project after passing the analysis to the project manager if ur not him, to be certain that everything is going as agreed upon.

MBA firstly to have a helicopter view of business

Business analyst / PMP

to have the master degree

He has to acquire many skills.
Project management can be one of these.
ISO certification will definitely help.
Human Resource and Business Management are very important.

Certifications like PMP/Prince2 will equip you with a broader idea of how to handle projects effeciently.