I would say it's not very important in terms of being able to land a job. Since most every software company has their own processes and procedures for all levels of development, that's something they expect to train you on when you're a junior developer. What they're going to care about most is that you know what you're doing when it comes to programming.

That being said, it certainly couldn't hurt to have some knowledge of project management and proper software design and development processes. It might make you stand out a bit from other new developers that you compete with for a job, so I say take a course in it if you get the chance.