Risk management: a case study in a KwaZulu-Natal technical and vocational education and training college.
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Date
2016
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Abstract
Technical and Vocational Education and Training [TVET] Colleges are expanded post-school
education and training institutions which are vital for the delivery of education and training,
and considered to be of strategic importance in and through the Department of Higher
Education and Training [DHET]. Colleges afford a form of education to advance skills and
expertise for industry, commerce and the country at large. This research study was located
within Elangeni Technical and Vocational Education and Training College. The College is
responsible for the provisioning of engineering and general studies programs on the National
Qualifications Framework [NQF] levels 2 to 4, and other programs up to the national diploma
level. According to the Continuing Education and Training Act 16 of 2006, Chapter 5 section
25(1)(c) regarding the financial records and statements, public Colleges need to implement
internal audit and risk management functions which are not of a sub-standard nature to the
requirements as set out in the Public Finance Management Act of 1999 (PFMA Act 1 of
1999 as amended). Based on the propositions of such legislation, TVET Colleges have to
implement effective risk management functions. The research objective was to determine
whether the College sustained “efficient, effective and clear” systems for risk management.
The benefits of a risk management strategy are that it provides assistance to the organization
as risks affecting business objectives are being managed, to ensure business continuity and to
minimise reputational risks. Risk management is a managerial role targeted at safeguarding
the organisation which includes its people and assets from physical and financial losses as a
consequence of risk. Risk management at the TVET Colleges has been theorised within the
paradigm of Public Administration and Governance. This study implemented the mixed
methods research design and the target population for the research was the Institutional
Management Team [IMT], staff and student class representatives. Qualitative data was
collected through semi-structured interviews whilst quantitative data was gathered through a
survey. The Statistical Package for Social Scientists (SPSS) was applied during data analysis
of the quantitative data collected. Centred on the critical outcomes of the referenced
legislation, the effectiveness of risk management has not been tested in the College. In
conclusion, the outcomes of the research findings could be used as an instrument to
contribute to ‘best’ practice in the College as well as other TVET Colleges, thereby
improving processes and systems leading to the successful achievement of College and
DHET objectives.
Description
Master of Commerce in Public Administration. University of KwaZulu-Natal, Durban 2016.
Keywords
Risk management - SA - KZN., Universities and colleges - Risk management - SA - KZN., Vocational Education.