Master of Science in Enterprise Risk Management
Offered on campus, online, and in a blended format, the Master of Science in Enterprise Risk Management (MSERM) at Boston University’s Metropolitan College provides the tools and concepts necessary to plan for, prevent, and—when needed—successfully respond to disruptions in business operations. The Enterprise Risk Management graduate program integrates cutting-edge intellectual content from the academic world with sophisticated management practices of leading global corporations.
The imperative of the 21st century business environment, Enterprise Risk Management is a holistic management construct for identifying potential threats, risks, and vulnerabilities in an organization and its business enterprise. It concerns ongoing, never-ending strategies to evaluate and mitigate potential disruptions, and encompasses resiliency planning, prevention, crisis management, business continuity management, and recovery. As such, the ability to contribute to enterprise risk planning and execution is an important skill for many business leaders.
The primary objective of the Enterprise Risk Management master’s program is to develop sophisticated professionals who can take on enterprise risk challenges in today’s turbulent business world, enhancing business value by providing solutions that mitigate risk across entire business enterprises.
Students who complete the master’s degree in Enterprise Risk Management will be able to demonstrate:
- Proficiency in designing and evaluating exposures and the available response options, and developing appropriate plans for widely used enterprise risk management, business continuity planning, and disaster recovery frameworks and processes.
- Skills in the use of quantitative and qualitative data to estimate the likelihood and severity of individual exposures.
- The skills and abilities necessary to undertake management and leadership roles in the profession of enterprise continuity, with an appreciation of the broad issues of continuity, security, and risk management.
- A broad understanding of the different aspects of business continuity as it impacts the continued operations of the firm, from supply-chain management through higher-level strategy development involving markets and industry sustainability.
Available on campus and in the following format:
- Blended: By combining the convenience of online study and the dynamic of face-to-face learning, the blended format provides added flexibility and new avenues of opportunity for those with demanding schedules.
Dual Degree Option
In appreciation of the converging nature of management skills and technology, the Administrative Sciences department collaborates with Metropolitan College’s departments of Actuarial Science and Computer Science. Degree candidates in either program may apply 8 credits from one degree toward a second degree in one of these disciplines, thereby reducing their work by two courses. Students must be accepted by both departments, but they may request that application materials such as references and transcripts be forwarded from the first program to the second.
The department reviews each student’s prior academic background in relation to their current professional standing to determine suitability. Candidates for admission to the degree program are selected on the basis of academic transcripts, academic and professional references, and often interviews. Degree candidates have six years to complete the program from the date of their first course.
Part-time students who hold a bachelor’s degree but have not applied as degree candidates may enroll in the department’s classes on a space-available basis for a maximum of two courses prior to obtaining acceptance to the program. Students should consult prerequisite requirements for the program to determine what courses would be appropriate in this situation. It is important to note that a maximum of one course (four credit hours) with a grade of B+ or better completed prior to acceptance, not used toward another degree, and taken no more than four years prior to matriculation, may be credited toward degree requirements with department approval. A written request on the appropriate department form must accompany the student’s application. Students requesting full-time admission are expected to have completed a minimum of one year of work experience.
Applicants who require an I-20 visa from Boston University must submit an International Student Data Form (ISDF), along with financial and other documentation as required by the International Students & Scholars Office (ISSO). Since financial aid is not available to foreign students, each international applicant will be asked to provide a financial declaration showing adequate funding for both tuition and living expenses for the duration of the program. All credentials must be submitted in English. International students must submit copies of current or recently issued visa or I-20 documentation. Boston University will not issue an I-20 without this information. Additional information may be obtained at bu.edu/isso.
International students must demonstrate an understanding of English, including the ability to read and write with proficiency. Students whose native language is not English must submit results from the following:
- The Test of English as a Foreign Language (TOEFL) Internet-Based Test (iBT), with a minimum total score of 84, and minimum scores in each section as follows: Reading—21; Listening—18; Speaking—23; and Writing—22
- The International English Language Testing System (IELTS), with a minimum total score of 6.5, and minimum scores of 6.5 in each section
For TOEFL, the institutional code for Metropolitan College graduate programs is 3087. There is no institutional code required for the IELTS.
Applicants are exempt from language testing if they:
- Completed a four-year undergraduate degree at an accredited college or university in a country where English is the standard language: Australia, The Bahamas, Bermuda, British Virgin Islands, Canada (except Province of Québec), Ireland, New Zealand, and the United Kingdom.
Students who do not meet the minimum TOEFL requirement may wish to contact Boston University’s Center for English Language & Orientation Programs (CELOP) for further information.
All application materials must be submitted in English. A copy of the original document must accompany translations of academic records and other materials. Records of university study should show courses, grades, type of degree received, and exact or approximate rank in class.
Transfer of Credits
A maximum of two graduate-level courses (8 credits), completed with a grade of B+ or better and not used toward another degree, may be transferred from an accredited university with approval from the Administrative Sciences department. The courses must have been completed no more than two years prior to matriculation. To request transfer of credits to the MSERM, students must fill out a transfer of credit form and attach all pertinent information.
Part-time students who hold a bachelor’s degree, but have not yet applied as degree candidates, may enroll in a maximum of two courses on a space-available basis. Before registering in any of our graduate courses (600 level or higher) you will need to provide the department with an undergraduate transcript confirming your degree from an accredited university. Please note that only two courses taken prior to acceptance into the MSERM program will be counted toward the degree.
Students accepted into the program who have already earned the Graduate Certificate in Enterprise Risk Management at MET have satisfied the specialization requirements of the MSERM and need only complete the Degree Core Courses and two electives to earn the master’s degree.
No grade lower than B– may be applied toward degree, certificate, or diploma requirements. Students with less than a 3.0 cumulative GPA will be placed on academic probation. Students on academic probation must make satisfactory progress toward achieving a minimum of 3.0 by the following semester, and must be in a position to graduate with a 3.0 or better within the remaining program courses. While grades of B or B– are normally considered passing, these grades will not assist in raising an unsatisfactory GPA to a satisfactory level. Therefore, students must obtain a minimum grade of B+ during a probation period.
Students who, in the determination of the department and based on past academic performance, are not in a position to raise their GPA to the necessary level to graduate within the remaining courses will be dismissed from the program. Students who have not removed themselves from academic probation after one semester for full-time status (three semesters for part-time status) will be dismissed from the program.
Online and Boston-based graduate students can participate in a variety of international study experiences through the Administrative Sciences department. These include obtaining a second degree from a foreign partner institution (dual-degree program); taking a partner institution’s online course (for our online students); participating in one of the department’s intensive courses abroad; or attending a foreign university. Dual-degree students (both campus-based and online) are able to earn a second degree from a foreign university with a reduction in that school’s graduation requirements; in most cases, a student can obtain an MS in Enterprise Risk Management from Metropolitan College and an MBA from a foreign institution in two years of full-time study (with classes in English).
The department strongly believes that international opportunities are a vital part of today’s business education, and strives to make opportunities available to our students whether part-time, full-time, or online. MET partner institutions are located in a variety of countries, including England, France, Germany, Mexico, and Taiwan. Information about a range of international opportunities is available from the department or, for online students, the online program coordinator.
A total of 40 credits is required.
All students must satisfy the degree core courses, specialization requirements, and electives as indicated. Waived courses from the core or specialization areas must be replaced by an elective course in order to meet the 40-credit-hour requirement.
Degree Core Courses
(Four courses/16 credits)
MET AD 632 Financial Concepts
Introduction to the concepts, methods and problems of accounting and financial analysis. Includes accounting principles, measurement and disclosure issues, financial statement analysis, time value of money, cash flow projection and analysis, capital budgeting and project evaluation, bond and equity valuation, cost of capital and capital structure. 4 cr. [ 4 cr. ]Sum1 2017
|SA1||IND||Mcgue||HAR 324||TR||6:00 pm – 9:30 pm|
|C1||IND||Mcgue||EPC 203||W||6:00 pm – 8:45 pm|
|D1||IND||Chee||SOC B63||R||6:00 pm – 8:45 pm|
|BCP||IND||Turner||S||8:30 am – 4:00 pm|
MET AD 642 Project Management
The course examines the concepts and applied techniques for cost effective management of both long-term development programs and projects. Project management principles and methodology are provided with special focus on planning, controlling, and coordinating individual and group efforts. Key topics of focus include overview of modern project management, organization strategy and project selection, defining a project and developing a project plan and scheduling resources, project risk analysis, work breakdown structures, and project networks. MS Project will be introduced in this course to provide hands-on practical skills with the above topics. Mastery of key tools and concepts introduced in this course provides a significant competitive advantage in the marketplace. [ 4 cr. ]Sum1 2017
|SA1||IND||Cipriano||EPC 204||MW||6:00 pm – 9:30 pm|
|SA2||IND||Keegan||FLR 121||MW||12:00 pm – 3:30 pm|
|A1||IND||Cipriano||SHA 202||M||6:00 pm – 8:45 pm|
|B1||IND||Staff||CAS 324||T||6:00 pm – 8:45 pm|
|C1||IND||Keegan||FLR 134||W||2:30 pm – 5:15 pm|
|D1||IND||Staff||CGS 515||R||6:00 pm – 8:45 pm|
|BCL||IND||Kieffer||S||8:30 am – 4:00 pm|
|BCP||IND||Kieffer||U||8:00 am – 3:30 pm|
MET AD 715 Quantitative and Qualitative Decision-Making
Explores decision making and policy formulation in organizations. Includes goal setting and the planning process, rational models of decision making, evaluation of alternatives, prediction of outcomes, cost-benefit analysis, decision trees, uncertainty and risk assessment, and procedures for evaluation of outcomes. [ 4 cr. ]Sum1 2017
|BNR||IND||Cleary||S||8:30 am – 4:00 pm|
|E1||IND||Zlatev||EPC 209||T||6:00 pm – 8:45 pm|
|BHA||IND||Cleary||U||8:30 am – 4:00 pm|
MET AD 741 The Innovation Process: Developing New Products and Services
Addresses the specifics of new product and service development and fostering innovation and technology to increase performance. Topics include generating and screening initial ideas; assessing user needs and interests; forecasting results; launching, and improving products and programs; bringing innovation to commercial reality. [ 4 cr. ]
|C1||IND||Unger||SHA 206||W||6:00 pm – 8:45 pm|
|D1||IND||Unger||EPC 208||R||12:30 pm – 3:15 pm|
(Four courses/16 credits)
MET AD 610 Enterprise Risk Management
This overview course examines the management issues involved with assessing the security and risk environments in both the private and public sectors in order to assure continuous system-wide operations. The course studies the elements of risk assessment and operational continuity using the project management framework of planning, organizing, and control. Students are exposed to the role of the firm in crisis response and management as well as the terms, systems, and interactions necessary to assure continuous operations. Topics include: the role and need for comprehensive assurance strategy and planning; the security aspects of the firm; an overview of the system-wide structure?as well as the organizations within that structure?designed to plan for and respond to local or national crisis; the social and emotional impact on the workforce as well as its effect on productivity; and the organizational infrastructure relating to national, regional, and international compliance. 4 cr [ 4 cr. ]
|C1||IND||Carroll||CAS 233||W||6:00 pm – 8:45 pm|
MET AD 617 Business Continuity Management
The course presents, assesses, and discusses the contemporary theories, methods and practices related to business continuity (BC), business continuity management (BCM) and resiliency planning. The course incorporates the underpinnings of enterprise-wide risk management (ERM); however, it is designed to focus on broad-based threats, vulnerabilities, unexpected events, emergencies, and crises that may impacts organizations and their leaders and professionals. The course focuses on the design, development and applications of resilience, emergency planning, crisis management, BC, and disaster recovery used by organizations in the private sector. It presents a comprehensive, cutting-edge framework pertaining BCM in complex organizations and challenging environments.
The course elements are divided into two parts. Part I addresses the fundamental concepts and constructs, including leadership, governance, policy, strategy, program management, the driving forces of change, taxonomy of threats, risks, and business impact analysis (BIA). BIA is an important technique used for identifying and developing strategies to take advantages of opportunities and to prevent, prepare for, and mitigate negative impacts. Part II provides descriptive and analytical perspectives pertaining to prevention, emergency preparedness, resiliency plans, crisis management, emergency responses, BC, and disaster recovery. Resiliency and emergency planning involve preparing for unplanned events that can cause significant harm to employees, stakeholders, customers, the community, and the public, especially ones that can disrupt systems, processes and operations, cause physical injuries, environmental damage, asset destruction, and threaten the finances and or public image of the company. Monitoring, auditing, and communications are special topics pertaining to the ongoing efforts to ensure that BCM is functioning properly. [ 4 cr. ]
|B1||IND||Rainey||KCB 104||T||6:00 pm – 8:45 pm|
And two of the following:
MET AD 613 Enterprise Risk Planning and Compliance
Prereq: MET AD610
Students are exposed to the important issues relating to corporate and organizational security and risk from both the perspective of systems designed to protect against disasters and aspects of emergency preparedness should systems fail. Security areas of study include information technology, terrorism, and other organization disruptions. Students study proactive risk assessment through management risk analysis techniques and simulations. Students will be able to design a company or agency global assurance plan, organize the strategy to make the plan operational, and implement control measures to assess the plan's degree of success. The course also provides explanations of legal/regulatory, auditing, and industry- specific requirements related to compliance, control, and reporting issue sin business risk management. The role of establishing and maintaining standards by local, national, and international agencies is discussed, as is the importance of these agencies in certifying operations. 4 credits [ 4 cr. ]
MET AD 614 Disaster Management
Prereq: MET AD610
This course takes concepts covered in MET AD610 and MET AD613 and applies them in more detail mainly to the corporate-private sector environment. During this course, we will first review the organization and processes necessary to effectively respond to and manage incidents, including the transition from emergency response and incident management to business recovery. Finally, the course will focus on disaster recovery, with an emphasis on technology recovery, an absolutely essential but sometimes overlooked component of any successful corporate recovery program. 4 credits [ 4 cr. ]
MET AD 805 Cpstn Proj Erm
[ 4 cr. ]
(Two courses/8 credits)
Select two additional Administrative Sciences graduate-level courses (8 credits) with advisor’s approval. Graduate-level courses may also be selected from other Metropolitan College departments or other Boston University schools and colleges, with an advisor’s approval.
View all Administrative Sciences graduate courses.
Associate Professor of the Practice of Administrative Sciences Andrew Banasiewicz speaks on calculating risk, and what it talks to be a predictive analytics professional. Read all about it »