Risk management

We consider risk in our planning and decision making. This ensures we understand and manage threats and opportunities as we work towards our vision.

The department faces many types of risks. These range from healthcare consumer risk, workforce risk, financial risk, information and systems security and risks in being able to deliver the objectives of the government.

The department’s risk management policy supports us to achieve our outcomes. It follows accepted standards and guidelines for managing risk, particularly those used by public sector agencies and departments.

We apply a 3-tier approach to managing risks:

• strategic risks – risks that affect the achievement of the department’s strategic priorities
• operational risks – risks that affect our day-to-day operations
• project risks – risks that relate to activities linked to election commitments, budget initiatives, and priority programs and projects.

The department also helps to manage state-significant risks that may significantly affect the community, the government, and the private sector.

An effective risk management framework allows the department to focus on the things that matter for Victorians and Victorian communities.

We continually monitor our performance to check whether we are on track to achieve our objectives and desired outcomes.