Risk Management Policy

In order that Payap University might have an efficient risk management system and be effective in controlling factors, activities and operational processes that might be causes of loss to the university, to keep the level of risk and the nature of the damage that might occur within levels that the university might be able to manage, to designate preventative measures through anticipation in advance, to present or reduce the chance of loss or mitigate the severity of  the problem together with an emergency response plan and the management of risks from many sides, therefore the following risk management policy is enacted:

1. A risk management committee shall be set up for the university, for faculties, and for units, by having the university’s risk management committee determine a policy, [to] present, follow-up and manage risks at all levels, including analysis of evaluations and making suggestions on risk management and reporting to the Board of Trustees annually.

2. The risk management system shall be at the same standard, having an analysis of the stipulation of risks and factors that might cause risks, together with evaluating the opportunities and consequences of risks, and prioritizing the risks according to the circumstances of each faculty or unit.

3. The university designates the levels of risk which might impact the risk management plan of the university on a scale of 10 and up.

4. The risk management plan shall have analyzable results that can be designated as high risks and very high risks, by having a system of mechanisms for controlling, overseeing and designating persons responsible for carrying out the plan systematically and assiduously.

5. There shall be an evaluation of risk management at every level, and reports made to the highest accountable administrator in the month of March every year, which will be used as material for every level to make a risk management plan for the following year.

6. Risk management shall be a normal part of operations.

Signed by the President

December 7, 2010