Online Master of Science in Enterprise Risk Management Degree
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Available online and on campus, the Master of Science in Enterprise Risk Management (MSERM) program at Boston University’s Metropolitan College 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 technology 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 MSERM 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.
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.
Awards & Accreditations
Accredited member of AACSB International―The Association to Advance Collegiate Schools of Business
Why Choose BU’s Master of Science in Enterprise Risk Management?
- In 2023, Metropolitan College’s online master’s degrees in management were ranked #9 among the Best Online Master's in Business Programs (Excluding MBA) by U.S. News & World Report.
- Boston University is an accredited member of AACSB International―The Association to Advance Collegiate Schools of Business.
- MET’s MS in Enterprise Risk Management is one of the few programs to immerse students in all aspects of risk management and organizational continuity.
14% increase in jobs through 2026
$82,450 median annual pay in 2017
Operations Research Analysts
27% increase in jobs through 2026
$81,390 median annual pay in 2017
Business Continuity Planners
5–9% increase in jobs through 2026
$70,010 median annual pay in 2017
Emergency Management Directors
8% increase in jobs through 2026
$72,760 median annual pay in 2017
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2017-18 Edition
Boston University Metropolitan College (MET) offers competitive tuition rates that meet the needs of part-time students seeking an affordable education. These rates are substantially lower than those of the traditional, full-time residential programs yet provide access to the same high-quality BU education. To learn more about current tuition rates, visit the MET website.
Comprehensive financial assistance services are available at MET, including scholarships, graduate loans, and payment plans. There is no cost to apply for financial assistance, and you may qualify for a student loan regardless of your income. Learn more.
The Boston University Metropolitan College Master of Science in Enterprise Risk Management consists of 10 required courses (40 credits).* Students who already hold the Graduate Certificate in Enterprise Risk Management may waive the four specialization courses.
With appropriate advanced planning, you can use degree electives from your Master of Science in Enterprise Risk Management to satisfy up to two required courses in an Administrative Sciences graduate certificate program—leaving only two additional courses to be completed in order to receive a graduate-level certificate.
*Degree requirements may vary for those students transferring credits from previous coursework at Boston University or receiving course waivers due to professional designations.
Students must complete the degree core courses, the specialization requirements, and electives, as indicated.
Degree Core Courses
(Four courses/16 credits)
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
The purpose of this course is to help improve business problem solving and managerial decision-making through the use of quantitative and qualitative decision-making tools and techniques. This course will provide the student with an overview of how decisions are made to solve management problems in the business environment. It introduces the fundamental concepts and methodologies of the decision-making process, problem-solving, decision analysis, data collection, probability distribution, evaluation, and prediction methods. Students will learn how to apply different quantitative and qualitative analytical tools commonly used in business to provide a depth of understanding and support to various decision-making activities within each subject area of management. Through the use of case studies of decisions made by managers in various production and service industries and a business simulation package specifically prepared for this course, the scope and breadth of decision-making in business will be described. [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]
(Four courses/16 credits)
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]
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]
Plus two of the following:
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]
METAD805 Capstone Project in Enterprise Risk Management
A directed study course consisting of an applied research project that concerns a special topic of interest to an Enterprise Risk Management (ERM) student. The course is especially designed for working professionals who have special ERM- related interests that are not covered in existing courses. The project generally culminates with a written paper and oral presentation. Research is conducted under intensive faculty supervision. Requires department approval and project supervisor from full-time or part-time faculty. [4 credits]
(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.
The following are some of the elective courses allowed with advisor approval:
METAD612 COO-Public Emergency Management
This course examines emergency management from national, state, local, and family perspectives of prevention, preparedness, response, and recovery. The course encompasses knowledge of the specific agencies, organizations, and individual behaviors in emergency management as well as the interlinking partnerships between/among these groups. Areas of discussion include: responsibilities at federal, state, community and individual levels; guidelines and procedures for operations and compliance such as the National response Plan; Incident Command Systems (ICS); exercises; plan development, command, and control; communication; partnership development and maintenance; leadership; and numerous other elements related to effective emergency management. The unique and critical roles of private and public partnerships are reviewed and particular attention is paid to the interplay and interdependency among national, state, community, business (public and private), and the individual. 4cr. [4 credits]
METAD618 Technology Risk Management
METAD605 Operations Management: Business Process Fundamentals
This course will provide students with the analytical tools to analyze, manage, and improve manufacturing, service, and business processes. Coverage includes various options to lower operational costs and improve responsiveness to customers' needs, including operating system design, product & service design, capacity analysis & buffering, waiting line optimization, and process quality analysis using statistical approaches. Quantitative methods include application of stochastic simulation, analysis of random outcomes, statistical analysis routines (confidence intervals, hypothesis testing, machine learning), system reliability analysis, and statistical process control. The Deming philosophy of management, Lean operations principles, and Six Sigma process improvement methodologies form the underlying foundation of the course coverage. [4 credits]
METAD680 Global Supply Chains
This course covers the quantitative analysis tools to support operations management for a supply chain that is geographically dispersed and culturally diverse. The tools necessary to assure that the products/services are delivered/provided in the quality and timely manner include demand forecasting, inventory and capacity buffer optimization, delayed differentiation, statistical risk pooling, and stochastic inventory optimization. These tools are applied to decisions such as offshoring, multi-country outsourcing, push-pull, reverse supply chains, and risk mitigation. Particular attention is given to sustainability, information technology and digitalization, and creating resiliency. [4 credits]
METAD734 Quality Management
Course participants will be exposed to the fundamental principles involved in the analysis and management of quality for enterprises and their supply chain. Quality is defined in the broadest sense, encompassing all performance components that drive customer satisfaction. The course focuses on management principles, statistical modeling and analysis, and their application in a variety of industrial, service, healthcare, and educational environments. Topics include the Deming philosophy of management, Six Sigma and the DMAIC project framework, quality certification systems, statistical data analysis & presentation, statistical modeling using control charts, and statistical analysis of process capability. Students will earn a Six Sigma Green Belt based on satisfactory performance on the final examination. [4 credits]
Marketing & Global Business:
The course provides a detailed examination of the history of e-commerce, along with important concepts related to the ways that businesses can successfully use Internet and Web technology. Students are introduced to the concepts and problems associated with electronic commerce. Topics include comparison of e-commerce procedures, payment mechanisms, applications in different industry sectors, security, the challenges of starting and maintaining an electronic business site, as well as a comparison with traditional business practices. The development of a WordPress-themed website is a minor feature of the course. 4cr. [4 credits]
METAD655 International Business, Economics, and Cultures
This course considers macroeconomic factors of relevance to the firm: aggregate economic activity, cyclical movements, and fiscal and monetary policies. The course reviews the problems of decision-making relating to demand, production, costs, market structure, and price, and provides an analysis of the interplay between governments, economic systems, labor, and multinational corporations (MNCs). Topics include: the basis for the existence, organization, and growth of MNCs; a comparison of major economic and government systems; areas include the impact on the firm's business transactions and trade due to taxation, regulation, legal environments and labor influences. This course additionally investigates the relationship between the interaction of national culture and development. Topics range from developing nations' rain forest and species management to pollution generated by developed nations. Culture, policy, and development are also discussed in relation to the impact of the business interactions (agriculture, fishing, technology transfer, etc.) among developing and developed nations. [4 credits]
METAD678 Financial Regulation and Ethics
Financial Regulation and Ethics is a course designed to thoroughly review the important topics of financial regulations, policies, and ethics. The course will explore an overview of the financial systems, their history, problems, and issues for the purpose of understanding the enactment of regulations as a method to protect the financial systems and investors. Also, regulators and their authority will be identified, both domestically and internationally.
Ethics, an extremely important aspect of finance will be discussed and explored. Ethics is a difficult topic to define and can be impacted by social norms. During the ethics portion of the course, students will study where ethics have failed and caused major issues for the financial marketplace and individual companies. [4 credits]
METAD737 Innovative Marketing Techniques
This course will provide you with the theoretical understanding of the Internet marketplace necessary to adapt to its many changes, while also equipping you with the skills you'll need to perform vital daily functions. The course includes discussions of both B2B and B2C and looks at marketing and communications from an integrated, business-wide perspective. The goal is to appreciate principles and practice of online marketing. Topics include integrated innovative marketing strategy, search engine marketing, email marketing, and social media. 4cr. [4 credits]
METAD643 Project Communications and Leadership
This course examines the increasing importance of leadership and communications in projects. Since project outcomes and the delivery of value are accomplished through teams of people, the course aims to improve the capability of a project manager to become a project leader and to excel at motivating and inspiring their teams. Students begin by gaining a better understanding of their own social, leadership, and communications styles. Self-awareness is key to the course. We investigate motivation, conflict management, negotiation skills, and the Agile principles of stewardship and servant leadership. Grounded in the use of tools, the course will provide students with templates to enhance team collaboration and communication. The course also addresses more contemporary issues in PM, including resolving ambiguity and complexity, the use of improvised working styles, sustainable PM, and issues around power and politics within the project. [4 credits]
METAD644 Project Risk and Cost Management
Prereq: MET PM100
This course introduces students to macro and micro approaches to project cost estimation. Case studies of both pre-project and in- process estimating examine some of the more common perils of human irrationality associated with project estimation to help develop more sensible, achievable project outcomes. Students learn how to manage both project cost and schedule objectives throughout their projects using the Earned Value and Earned Schedule Measurement Systems. Students then study risk management through an examination of both individual and overall project risk and apply their learnings using advanced risk management software in an actual case study. Students also study project quality management, procurement/contract management, and project ethics and professional conduct using case study scenarios. [4 credits]
METAD646 Portfolio and Program Management
Prereq PM 100, PM200
The course focuses on the relationship among portfolios, programs, and projects, and the important strategic objectives of each endeavor. The course is designed to assist students in developing a program management framework, policy, and organizational structure. Students will develop skills and techniques for chartering constituent projects, directing and managing program execution, and managing the program team and stakeholders. The global legal, economic, cultural, and political environments in which projects operate will be contrasted, and mechanisms for resolving conflicts will be addressed. [4 credits]
METAD647 Project and Program Governance
Prereq: MET AD642
This is a comprehensive course on project and program monitoring, evaluation, and governance. Students will also understand enterprise wide-project interdependencies and determine the optimal pacing for a program to enable appropriate planning, scheduling, executing, monitoring, and controlling of the projects within a program in the future. It covers governance and evaluation methods that will be useful at various levels of large projects, including government and nonprofit organizations. This course will help project and program managers, analysts, consultants, educators, and managers in government, nonprofit, and private institutions to assess program results and identify ways to improve program performance. Other topics include: evaluation for small nonprofit organizations; assessing and improving planning, implementation and effectiveness; governance methodology and models; using evaluation tools and applications to assess factors linking projects under one program and provide the best allotment of resources between those projects; monitor complex, multi-project programs, and drill into current project details; enable collaboration and stakeholder alignment throughout a project life-cycle. Other topics include: creating a transparent and accountable organization with well-defined roles and one that is based on transparency, resource allocation and decision making and enterprise project management. [4 credits]
METAD649 Agile Project Management
Prereq: MET PM100
The course provides an understanding of how new Agile principles and practices are changing the landscape of project management. The course is designed to give project managers fresh new insight into how to successfully blend Agile and traditional project management principles and practices in the right proportions to fit any business and project situation. The course provides a deep understanding of Agile project management principles and practices in order to see them as complementary rather than competitive to traditional project management. Topics include: Agile fundamentals, principles, and practices; roots of Agile in TQM and Lean Manufacturing; adapting an Agile approach to fit a business environment; planning and managing an enterprise- level Agile transformation; scaling agile to an enterprise level using enterprise-level Agile frameworks and Agile Project Management tools. 4cr. [4 credits]
METAD571 Business Analytics Foundations
Prereq: AD100 Pre-Analytics Laboratory and ADR100 Introduction to R
This course presents fundamental knowledge and skills for applying business analytics to managerial decision-making in corporate environments. Topics include descriptive analytics (techniques for categorizing, characterizing, consolidating, and classifying data for conversion into useful information for the purposes of understanding and analyzing business performance), predictive analytics (techniques for detection of hidden patterns in large quantities of data to segment and group data into coherent sets in order to predict behavior and trends), prescriptive analytics (techniques for identification of best alternatives for maximizing or minimizing business objectives). Students will learn how to use data effectively to drive rapid, precise, and profitable analytics-based decisions. The framework of using interlinked data inputs, analytics models, and decision-support tools will be applied within a proprietary business analytics shell and demonstrated with examples from different functional areas of the enterprise. R, SQL, and Power BI software are used in this course. [4 credits]
METAD616 Enterprise Risk Analytics
The course offers an overview of the key current and emerging enterprise risk analytical approaches used by corporations and governmental institutions and is focused on understanding and implementing the enterprise risk management framework on how to leverage the opportunities around a firm to increase firm value. The major risk categories of the enterprise risk management such as financial risk, strategic risk, and operational risk will be discussed and risk analytics approaches for each of these risks will be covered. Students will learn how to use interlinked data inputs, analytics models, business statistics, optimization techniques, simulation, and decision-support tools. An integrated enterprise risk analytics approach will be demonstrated with examples from different functional areas of the enterprise. R, SQL, and Power BI software are used in this course. [4 credits]
METAD654 Marketing Analytics
Become familiar with the foundations of modern marketing analytics and develop your ability to select, apply, and interpret readily available data on customer purchase behavior, new customer acquisition, current customer retention, and marketing mix optimization. This course explores approaches and techniques to support the managerial decision-making process and skills in using state-of-the- art statistical and analytics tools. Students will have an opportunity to gain a basic understanding of how transaction and descriptive data are used to construct customer segmentation schemas, build and calibrate predictive models, and quantify the incremental impact of specific marketing actions. Python, R, SQL, and Power BI software are used in this course. [4 credits]
METAD688 Web Analytics for Business
Prereq AD100, ADR100, AD571
Explore web analytics, text mining, web mining, and practical application domains. The web analytics part of the course studies the metrics of websites, their content, user behavior, and reporting. The Google Analytics tool is used for the collection of website data and doing the analysis. The text mining module covers the analysis of text including content extraction, string matching, clustering, classification, and recommendation systems. The web mining module presents how web crawlers process and index the content of websites, how search works, and how results are ranked. Application areas mining the social web and game metrics will be extensively investigated. R, SQL, and Power BI software are used in this course. [4 credits]
METAD713 Derivative Securities and Markets
Prereq: MET AD630, MET AD731
Provides an overview of operation, mechanics, and structure of the derivative markets and covers in-depth quantitative valuation of derivative instruments, such as options, futures, and swaps. The course involves risk analysis including risk arbitrage, and risk management. Emphasizes the theory and practice of derivatives-based trading strategies including hedging opportunities for risk mitigation. [4 credits]
METAD717 Investment Analysis and Portfolio Management
Prereq AD 630, AD731
This course develops a framework for understanding the various types of financial decision making faced by financial managers and provides students with analytical tools for evaluating portfolio construction and management problems in a systematic manner. Includes analysis and determination of securities values. Problems of investment policy are approached through studies of portfolio selection methods and the valuation of special classes of securities. It offers quantitative strategies for portfolio diversification and risk management. [4 credits]
METAD719 Fixed Income Analysis
Prereq: MET AD 630, MET AD 731
This course covers the nature and analysis of fixed income securities and an in-depth examination of some of the particular features of some major classes of fixed income instruments, valuation, sensitivity to risks, and management of fixed income portfolios. [4 credits]
METAD731 Corporate Finance
Emphasizes issues of accounting, finance, and economics that are important in most management contexts. Stresses understanding financial statements, planning and control, cost and benefit evaluation, cash flow analysis, and capital budgeting. [4 credits]
METAD763 Multinational Finance and Trade
Prereqs: AD 630, AD731
Applies the concepts of corporate finance and risk mitigation to the problems of multinational financial management. Major topics include foreign exchange risk, and construction of hedging strategies using derivative instruments such as forwards, futures, and swaps to reduce multinational corporate risk. Addresses international financial flows and their impact on foreign exchange rates, capital flows, speculation, analysis of alternative foreign investments, analysis of sources and uses of corporate funds abroad, multinational tax and profit. [4 credits]
*Degree requirements may vary for those students transferring credits from previous coursework at Boston University or receiving course waivers due to professional designations.
MET prioritizes the review and admission of applications submitted earlier in the rolling admission process. You are encouraged to submit your application as soon as possible and no later than the priority application deadlines for each term.
Applicants must have an earned bachelor’s degree, in any field of study, from a regionally accredited college/university (or the international equivalent) prior to enrollment at Metropolitan College. The following materials are required for a complete application:
- Completed Application for Graduate Admission and application fee
- All college transcripts
- Personal statement
- Two letters of recommendation
- Official English proficiency exam results (International students)
Canan Gunes Corlu
Associate Professor, Administrative Sciences; Coordinator, Supply Chain Management
PhD, MS, Tepper School of Business at Carnegie Mellon University; BS, Koc University
Associate Professor of the Practice, Administrative Sciences; Coordinator, Enterprise Risk Management
PhD, MS, University of Massachusetts at Amherst, BA, East Stroudsburg State College
Associate Professor of the Practice and Director of Digital Learning, Administrative Sciences; Coordinator, Applied Business Analytics
PhD, MS, BS, Dresden University of Technology
Mark Carroll, FBCI, MBCP, PMP, CISSP, CISA, CGEIT, CPIM
Senior Vice President and Business Risk Officer, Income Research + Management (IR+M), Boston; Editorial Advisory Board, Continuity Insights
MBA, Babson College; BA, Boston College
David L. Rainey
PhD, MS, MS, Rensselaer Polytechnic Institute; MBA, Western New England College; BS, University of Connecticut
David Weidman, CBCP, CIA, CSP
Former Director (retired) of Business Continuity, Blue Cross Blue Shield of Massachusetts (BCBSMA)
MBA, Suffolk University; BA, Colgate University
Donald Byrne, CBCP, CDCE, ISO Lead Auditor, TIA 942 Lead Auditor
President and CEO, METRIX411; Host, Business IQ Radio Show (WBNH); Chair, TIA Committee on Edge Data Centers
MBA, Southern New Hampshire University; BA, St. John University
Michael Dolan, CBCP, CEM, EMT-B
Business Continuity Consultant, Blue Cross Blue Shield of Massachusetts
MS, Canisius College; BA, Salve Regina University
Michael Jennings, CBCP, CBCS, CICRA, CDCP, CCSFP, CIS LI, C GDPR P
Senior Director and Practice Leader, Resiliam; Editorial Advisory Board, Continuity Insights
MS, Boston University; BA, Norwich University
To learn more or to contact an enrollment advisor before you get started, request information using the button below and tell us a little about yourself. Someone will be in touch to answer any questions you may have about the program and detail the next steps in earning your degree. You can also start your application or register for a course at Metropolitan College.