Enterprise Risk Management is increasingly being recognized as the key to achieving and driving sustainable organizational performance, regardless whether the organization is active in the public sector or the private sector and industrial domains. This Master’s programme in Enterprise Risk Management is designed to provide formal education contemporary Risk Management and its natural extensions to Crisis and Emergency Management to graduates. This Master’s programme in Enterprise Risk Management is designed around four-year-long thematic units which capture the essential knowledge, and skills that are essential to a competent and contemporary Chief Risk Officer in any type of organization or enterprise. The programme is composed of 120 ECTS (European Credit Transfer System). The programme is offered jointly by the Open University of Cyprus and the Hellenic Open University.

Target Audience

The Master program in Enterprise Risk Management is likely to attract industry-sponsored applicants or even groups, i.e. from organizations that are in the process of developing or strengthening their own risk management functions. The tight focus of the program on all aspects of risk management but in a generic format makes it an ideal postgraduate course in Risk Management for candidates from all over the world to apply for the qualification.

Program Structure

For the successful completion of the Master programme, students must follow and successfully pass examinations in four (4) compulsory Modules (credited with 20 ECTS per module) and the Master’s Thesis (credited with 40 ECTS). Students are required to prepare four written assignments in each Module under the supervision and guidance of a tutor and if they gain the necessary grades they become eligible to participate in the final exams The University's academic year begins in mid-September and ends in June, with the final written exams at the end of the year in May. The selection of 60 ECTS per academic year is equivalent to full-time, whereas the selection of fewer than 60 ECTS per academic year is considered as part-time. Modules offered: Year 1

Students have to enroll for the modules in a specific order: ERM501, ERM502, ERM503. Year 2 The Master Thesis can be taken after the successful completion of the three Year 1 modules.Entry Requirements

  • Applicants must hold an undergraduate degree from a valid/recognized higher education institution.
  • All candidates must have a very good knowledge of the English language in order to be able to attend successfully the programme.

EmployabilityEmployment opportunities include the following:

  • Risk Officers and Chief Risk officers in any type of organization that implements, or is in the process of implementing an Integral Risk Management function.
  • Managers or Directors in any type of organization where they will be required to handle crises and emergencies, and to develop formal risk, crisis, or emergency management processes.

ApplicationsApplications are only filled in and submitted electronically, through the University's website. During the academic year 2017-2018, the application period is from 8th February 2017 until 28th April 2017, 11:00 a.m.Academic GovernanceThe Programme Director with the assistance of two academics, one from each university, forms a three-member Academic Committee for the Master Programme in ERM. The Academic Committee monitors the complete educational process of this Master programme

Code Module ECTS
ERM501 Organization and Management - The Environment of Risk Management 20 ECTS
ERM502 Advanced Quantitative Methods for Managers 20 ECTS
ERM503 Risk Management and Risk Management Standards 20 ECTS
Code Module ECTS
ERM601 Crisis Management and Business Continuity Planning 20 ECTS
ERM701 Master’s Thesis 40 ECTS
Program taught in:
  • English

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Last updated November 22, 2018
This course is Online
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6,000 EUR
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