Magister Scientiae (Msc)
120 ects
English
Internationally Recognised
Online application submission
Τhe programme is offered jointly by the Open University of Cyprus and the Hellenic Open University.
Risk Management is increasingly being recognized as the key for achieving and driving sustainable organizational performance, regardless if the organization is in the public sector or the private sector and industrial domains. This Master programme is designed to provide graduates with formal education on contemporary Risk Management and its natural extensions to Crisis and Emergency Management.
EUROPEAN CREDIT TRANSFER SYSTEM – ECTS: 120
TEACHING LANGUAGE: English
LEVEL: Masters
DEGREE AWARDED: Magister Scientiae (Msc)
The programme is evaluated and accredited by:
The Programme is likely to attract industry-sponsored individuals or groups, i.e. from organisations that are in the process of developing or strengthening their own risk management functions, and individuals who wish to modernize or to enhance qualifications in the area. It is also an ideal postgraduate Programme for candidates from all over the world since it focuses on all aspects of risk management in a generic format.
Employment 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.
The Open University of Cyprus (OUC), through its participation in the European project "Liaison Offices with the Labour Market", offers to students of all its programmes of study, the optional and free of charge Thematic Unit (i.e. Module) entitled "Industry Placement". This module provides students opportunities for a placement to gain professional experience in their particular field of study, and the hosting institution can be any public or private organisation operating in the Republic of Cyprus.
Each student has the right to participate in this offering once or twice during his / her studies, provided that s/he meets the required conditions.
Request more information by contacting the OUC Liaison Office here.
- 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. Further information can be found here.
The tuition fees for each Module (Thematic Unit) amount to €500, while for the Master Thesis amount to €2000.
The tuition fees for the completion of the Master programme in "Enterprise Risk Management " amount to €6,000.
As far as discounts and scholarships are concerned, the OUC related policy is in effect.
Applications can be submitted exclusively online:
Application dates for the spring semester of the Academic year 2024-2025 : September 16 - November 12, 2024.
Enterprise Risk Management - Previous Structure
To receive the joint Master's degree in "Enterprise Risk Management", students must successfully complete the academic requirements of eight (8) semester-long modules and successfully complete a Master's thesis.
| Programme Study Layout | |||||||||||||||
| Enterprise Risk Management (ERM) | |||||||||||||||
| Modules | Semester | Required / Elective |
Pre-requisite Modules | Co- requisite Modules | Workload | ||||||||||
| Hours | ECTS | ||||||||||||||
| ERM511 | Principles of Economics for Risk Management | 1 | Required | ERM512 | 250 – 300 | 10 | |||||||||
| ERM512 | Advanced Quantitative Methods for Risk Management | 1 | Required | 250 – 300 | 10 | ||||||||||
| ERM513 | Risk and Risk Management | 1 | Required | ERM512 | 250 – 300 | 10 | |||||||||
| ERM521 | Management Principles & Human Resources in an environment of Risk | 2 | Required | 250 – 300 | 10 | ||||||||||
| ERM522 | Predictive Analytics in Risk Management | 2 | Required | ERM512 | 250 – 300 | 10 | |||||||||
| ERM523 | Risk Management Standards and Techniques | 2 | Required | ERM513 | 250 – 300 | 10 | |||||||||
| ERM611 | Crisis Management | 3 | Required | ERM513 | 250 – 300 | 10 | |||||||||
| ERM612 | Business Continuity Planning | 3 | Required | ERM611 | 250 – 300 | 10 | |||||||||
| ERM701A | Master Thesis Ι | 3 | Required | ERM512 | 250 – 300 | 10 | |||||||||
| ERM701Β | Master Thesis ΙΙ | 4 | Required | ERM511, ERM512, ERM513, ERM521, ERM522, ERM523, ERM611, ERM612 |
ERM701Α | 750 – 900 | 30 | ||||||||
| Total | 3000-3600 | 120 | |||||||||||||
| Industry Placement | |||||||||||||||
| ERM695 | Industry Placement (1st placement) | Elective | ERM501, ERM502, ERM503 | 5 | |||||||||||
| ERM696 | Industry Placement (2nd placement) | Elective | ERM695 | 5 | |||||||||||
Each student can optionally enrol, once or twice, in the free of charge Thematic Module "Industry Placement", which awards five (5) ECTS. The module offers a structured placement, designed to offer students specific industry and professional experience in their particular field of study, and to allow them to build their skills in a real-world setting.
ERM695 - Industry Placement (1st placement)
ERM696 - Industry Placement (2nd placement)
Request more information by contacting the OUC Career and Liaison Office here
Programme Director: Christina Diakaki, Associate Professor,
For additional information, please contact Ms. Yianna Charalampous (
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