DEVELOPING A PROACTIVE RISK MANAGEMENT SYSTEM BASED ON THE COSO ERM 2017 FRAMEWORK FOR SUPPORTING UNIT OF CHIANGRAI CAMPUS, UNIVERSITY OF PHAYAO

Abstract

This research aimed to: (1) examine the current state of proactive risk management, (2) develop a proactive risk management system integrated with organizational strategy and culture, and (3) evaluate system’s effectiveness from a stakeholder perspective. A quantitative research methodology was employed. The sample consisted of 130 participants, selected through purposive sampling. The research instrument was a validated questionnaire, and data were analyzed using the mean and standard deviation.

            The findings revealed that the overall current state of risk management was at a high level. The strategy and objective-setting dimension yielded the highest mean score, while the information, communication, and reporting dimension recorded the lowest. The developed system emphasized the integration of risk with operational plans and the establishment of an easily accessible risk register, resulting in risk response effectiveness rated at the highest level. Stakeholders evaluated the overall system at the highest level, reflecting that risks could be concretely reduced.