Risk Management in Higher education institution: A study of Mehran UET jamhoro

Nowadays, the risk management is attracting a lot of attention in academia, business, management and other corporate world. The idea, basically, is to address potential hazards in an orderly, systematic fashion, and to devise mitigation strategies for dealing with these unfortunate events - well before they actually occur. Risk management conducted in order to reduce the impact of potential hazards within Mehran University to an acceptable level. This paper first introduces the concepts of risk management and then presents some of the more apparent internal and external issues\ risks associated with the processes needed to create and implement a system of quality management based on the ISO 9001:2015 standards within Mehran University of Engineering and Technology Jamshoro, Sindh. The questionnaire has been developed in accordance to ISO 9001: 2015 parameter and consulted by (QEC) of Mehran University of Engineering & Technology, Jamshoro Sindh. For qualitative approach, total 17 questionnaires have been distributed each among Academic as well as Non-Academic department of Mehran University Jamshoro. Further, data was then analyzed through manifest content analysis to investigate the findings. The study identified several internal and external issues related to academic and non-academic institutes of Mehran University Jamshoro. According to the results, several risk factors have been identified such as shortage of employees, need of career development, faculty training, lack of machineries and equipment, courses delivery online, lack of skilled lab staff and lack of communication between academic and industries. Nevertheless, results portrays a clear picture of university departments where availability of resources were lacked in and requires early response strategy. Internal issues such as Machineries and Equipment is on extreme level risk that is catastrophic and infrastructure is a major risk factor identified in the research study. In conclusion, (HEIs) Higher Education Institutes should envisage comprehensive plans to address risk management issues in universities. This research will help in assessing the risk functioning in parallel with the implementation of system through effective mechanism to ensure better quality performance regarding quality management and standard activities in university arena