Risk Management in Higher Education: Navigating the New Normal
Risk Management in Higher Education: Navigating the New Normal B y Wannarasmi Chanthakut Risk is an uncertain future event that may or may not occur, with a certain probability or likelihood . If it does occur, it will have a negative impact that causes loss, damage, and failure to achieve objectives and goals. Risk = Chance of occurrence (Probability/Likelihood) X Impact (Impact/Consequence) ( Knowledge Network Institute of Thailand, 2020 ) In the past, higher education institutions primarily focused on traditional risk factors such as policy/strategic, operational, financial, and compliance risks. However, with the advent of digital disruption, universitie...