Risk Management Model of Private Vocational Colleges in the South of Thailand

Abstract

At present, private vocational colleges in the southern region still have problems with risk management. They still need a suitable risk management model.  This research aims to 1) Study the current condition a risk management model  and create a risk management model 2) Study how to apply the model to fit college context at private vocational college in Southern of Thailand. The study is designed into three parts: 1) studying the current situations of risk management using the questionnaires to gather data from 81 samples- executives and risk takers of Southern vocational college. 2) creating a risk management using Delphi method with 17 experts for two rounds. 3) studying the risk management implementation from a group conversation with 16 senior experts.  The results showed that 1) The assessment of Southern private vocational college was good, the objectives of risk management were clear, the use of principle of business education was effective, and the requirement of risk management model was obvious. 2)  SIAOMCAM Model- a risk management model, was created which was stand for eight issues: “S” stands for situations, “I” stands for Identification, “A” stands for analysis, “O” stands for objective, “M” stands for methods, “C” stands for controlling, “A” stands for audition, and “M” stands for monitoring. 3) Risk management implementation which was suggested by the senior experts was appropriate to apply without changing in any process, however, SIAOMCAM Model should be adjusted to each vocational college appropriately.