Enterprise Risk Management

About the ERM Program

In the 21st-century business environment, in a global arena fraught with turbulence, the future is full of unknowns. By all accounts, risk managers will be in high demand. According to recent research by Gartner, companies with clear risk management protocols were much more effective in implementing agile responses to the fast-emerging risks of the global coronavirus pandemic. Not just coronavirus but also geopolitical factors, financial networks, elaborate supply chains, and shifting economic priorities create myriad uncertainties to be assessed on the basis of risk management. Organizations need to be prepared for these types of generally categorized but specifically unforeseen developments and their potential costs. New insider threats to the enterprise are now becoming evident as organizations explore new ways to function. Enterprise Risk Management is an imperative and 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 technology recovery. As such, the ability to contribute to enterprise risk planning and execution is an important skill for many business leaders.

Fast Facts

Employers: Disney, Johnsonville LLC, Deutsche Bank

MS-ERM options: 12-months on campus or 24-months online, 10 courses, including 4 core courses, 4 specialization courses, and 2 elective courses

Certificate-ERM options: 8-months on campus or online, 4 specialization courses

Students can enroll every Spring, Summer, and Fall.

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Academics

Successful ERM candidates come from a variety of backgrounds and distinguish themselves by their strong interest in the integrated worldwide business environment. They possess a bachelor’s degree or the equivalent, and an upper-division GPA of 3.0 or higher. Candidates without the aforementioned academic background should be prepared for intense coursework in ERM and other courses. We welcome early- or mid-career professionals who want to advance up the job ladder, mid-career leaders who need better ERM skills to improve their decision-making, as well as applicants with no work experience.

Program Overview

The primary objective of the MS-ERM program is to develop sophisticated professionals who can take on enterprise risk challenges in today’s turbulent business world, enhancing business value by providing analytical and technological solutions that mitigate risk across entire business enterprises.

Curriculum

The MS program is a 40-Credit intensive program that can be completed in either 12 months or 20 months.  The curriculum is constantly updated to stay current to the Industry requirements with a focus on employability of the Graduates of the program.

Application Deadlines

To learn more on application deadlines click here.

Core Courses

METAD632 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. Effective Fall 2021, this course fulfills a single unit in each of the following BU Hub areas: Quantitative Reasoning II, Critical Thinking.

[4 credits]

METAD642 Project Management

The course explores modern project management by providing an enterprise- level, experiential view of the discipline focused on connecting projects to the organization's mission, vision, and values. The theme of the course is applying key project management tools and techniques, through case-based group work, which will help students identify, analyze, and develop practical proposals to real-world issues. Groups select, plan, report, and then present on their project's scope, schedule, cost, risk, quality, and communications elements using tools such as the WBS, network diagram, PERT estimate, Gantt chart (including the use of MS Project), risk register, and heat map. Students also gain familiarity with important new concepts in project management: Agile frameworks, actionable sustainability thinking, and Benefits Realization Management, all of which will be important for their success not only in other graduate courses, but as they lead projects for their organizations so as to provide lasting, triple-bottom-line value. The course is aligned with the latest PMBOK? Guide from the Project Management Institute.

[4 credits]

METAD715 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 credits]

METAD741 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 credits]

Specialization Courses

METAD610 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 operational and technological risk assessment and operational continuity using a project management framework and quantitative risk metrics. 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; information security; an overview of the system-wide structure; 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 credits]

METAD613 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. Engineering science is applied to security areas that include information technology, terrorism, and other organization disruptions. Students study proactive risk assessment through analytical 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]

METAD614 Disaster Management

This course takes concepts covered in MET AD617 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. The course will focus on disaster recovery, an absolutely essential but sometimes overlooked component of any successful corporate recovery program. Here, the emphasis is on technology recovery. This includes reviewing the key components of the IT infrastructure; how these components are accounted for in the response and recovery processes; and some best practices in technology recovery modelling. Several emerging technologies relative to cloud computing, information security, etc., are also examined. Prereq: MET AD617

[4 credits]

METAD617 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 technologies pertaining BCM in complex organizations and challenging environments. Technological innovations are used to involve a complex array of high-level developments that result in transitions and transformations of businesses. Finally, the environmental considerations center on connections between business and the natural law.

[4 credits]

 

Elective Courses

Class Schedule

To learn more about class schedule click here.

Academic Services

The Administrative Sciences department faculty and staff provides academic support and development opportunities to you throughout your career as a student in our program. The College offers a wide range of services that are focused on helping you to be successful in the classroom and prepare you for a career after college. You will have an opportunity to participate in:

  • Webinars that describe the program and your potential study plan
  • Orientation
  • Communication with your program advisor
  • Registering for classes at orientation
  • I-20 and Student Visa for international students

Registration Dates & Times

Learn more about registration

Academic Calendar

Boston University Official Academic Calendars

ERM Career Explorer

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