Businesses face several dimensions of risk exposure and require proactive approaches to mitigate those risks. This business process is known as risk management (also referred to as Enterprise Risk Management – ERM), and it involves “identifying, assessing and controlling financial, legal, strategic and security risks to an organization’s capital and earnings.” In the energy industry, several risk components exist, including:  

  • Supply/demand related risks 
  • Exchange rate risks 
  • Economic uncertainty 
  • Portfolio diversification 
  • Technological innovation related risks 
  • Liability 
  • Natural/environmental concerns 
  • Government regulations 

Three Stages of Energy Risk Management  

Energy risk management requires a comprehensive process involving three main stages:  

  1. Determining all potential risks, large or small. 
  2. Prioritizing all risks by severity and urgency. 
  3. Taking appropriate steps toward decreasing or eliminating risks. 

Expand Your Energy Risk Management Expertise 

The University of Texas Permian Basin offers graduate-level online programs that can help you hone your expertise in energy management as you build broader skills and key credentials for a stronger career. 

Online Master of Science in Energy Business 

Developed specifically for energy business professionals, this 30-credit program leverages UT Permian Basin’s longstanding connection with the energy industry to provide a firm grounding in financial principles. 

Our MS in energy business includes courses that examine risk management, including: 

Online Master of Science in Finance 

This new 30-credit program caters to one of the most sought-after business concentrations. Tailored toward training current and future executive managers, the MS in finance program includes a balanced and intuitive approach to areas of financial management including corporate financial strategy, investments and electives such as real estate and financial planning. This program also gives the students the ability to select energy classes as electives. 

Our online Master of Science in Finance includes courses that explore risk management from corporate and energy perspectives: 

Online Master of Business Administration with a Concentration in Finance  

This 33- to 42-credit program explores financial management in depth to help you develop career-critical operational acumen and leadership skills. A highly marketable degree, this MBA provides a strong financial management emphasis while also exploring accounting and investments. 

Our online MBA in business administration with finance focus includes courses that explore risk management from energy industry and other perspectives: 

Online Master of Business Administration with Certificate in Energy Business 

This 36- to 45-credit program examines core business areas such as risk management, marketing, accounting, and finance analytics from general and energy industry viewpoints. Our MBA with Certificate in Energy Business boasts a stackable credential option, a unique advantage which enables you to simultaneously earn a Graduate Certificate in Energy Business. That’s two valuable graduate credentials you can complete in about the same amount of time it takes to finish the MBA on its own. 

This online program includes courses that examine risk management, including: 

Programs Recognized for Quality and Affordability 

We offer all these online programs through our AACSB-accredited College of Business, a highly esteemed designation that only 5% of business programs worldwide can claim. The AACSB puts business programs like ours through a stringent peer-review process to ensure they meet “the highest standards of excellence in teaching, research, curriculum, and learner success” before bestowing accreditation.  

High quality does not equate to high cost, however. U.S. News & World Report included our MBA program as one of the “10 Most Affordable Online MBA Programs” for 2022. Tuition rates for all our programs are among the most affordable of any regionally accredited university. 

Greater Earning and Employment Potential 

A master’s degree carries with it prestige that can make your resume stand out. By pursuing graduate studies, you demonstrate your desire to broaden your professional expertise—a quality employers admire and many even reward financially. As the U.S. Bureau of Labor Statistics reports, master’s degree holders enjoy about 18% higher median earnings than those who hold a bachelor’s degree alone. The same report shows that graduate degree holders have higher employment rates than undergraduate degree holders. 

Convenient Credentials in as Little as Four Semesters 

Our master’s degree programs are presented in an asynchronous 100% online format that gives you the flexibility to learn at your own pace from practically anywhere in the world. No campus visits are required. This is a tremendous advantage when you’re managing ongoing professional and personal obligations. You can begin your degree program in spring, summer, or fall and finish in as little as four semesters.  

Give your energy industry career a vital boost. Apply now to one of UT Permian Basin’s related master’s degree programs.