We consider risk in our planning and decision making to ensure we understand and manage the threats to and opportunities in the delivery of our strategic directions and initiatives to achieve our vision.
There are many types of risks that the department faces. 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 has a risk management policy to ensure the implementation of an effective risk management framework that supports the department achieving its outcomes. In doing so, the department follows accepted standards and guidelines for managing risk, particularly those used by public sector agencies and departments.
We apply a three-tier approach to managing risks:
- strategic risks (tier 1) – these risks align with the department’s strategic plan and affect whole-of-department outcomes
- divisional risks (tier 2) – these risks affect an entire division or the achievement of key divisional objectives
- project risks (tier 3) – these risks relate to the delivery of government objectives or initiatives, budget initiatives and strategic priority projects.
The department also supports, either as the lead or as a contributary agency, the management of risks in relation to state-significant risks that may significantly affect the community, the government and the private sector.
The department recognises the important connection between strategy, risk and performance. By having clarity of vision and strategic directions and an effective risk management framework, we can focus on the things that matter and deliver better health outcomes for Victorians and Victorian communities. We continually monitor our performance to check whether we are on track to achieve our objectives and desired outcomes.
Reviewed 31 August 2023