We aim to integrate risk management into our strategic and business planning, decision making processes and operations.
This integration means that, when it is necessary as part of our work, we take informed risks and make decisions that are consistent with our values, support the health and wellbeing of our people, and maintain integrity.
There are four main types of risk that we actively manage as part of our day-to-day operations:
- Branch / project risk — risk specific to projects or DPC branches;
- Enterprise risk — risk specific to the operation of DPC;
- Shared risk — risk shared by two or more agencies; and
- State-significant risk — risks where potential consequences or impacts on the community, the Victorian Government and the private sector are so large as to be of state significance.
Principles for making complex decisions
We apply the following principles against our risk categories when making complex decisions.
Strategic
Pursue innovation while accepting that some ideas and projects are more achievable than others.
Operational / service delivery
Accept that some policy options may cause short term disruption to the community, DPC or the VPS’s reputation in the pursuit of long-term benefits.
Reputational
Work collaboratively across the VPS at all levels, communicate with DPC executives, other departments and Ministerial offices to achieve department and government objectives.
Financial
Manage within budgets. Where competing priorities emerge, reallocate existing resources to align with shifting needs and government priorities of the day.
Compliance and legal
Comply with DPC’s legal and statutory obligations. Misbehaviour and intentional non-compliance are taken seriously at all levels.
People
Challenge and develop our people to ensure we effectively implement government policy and support a high-performing DPC. Ensuring behaviour aligns with the VPS values, Code of Conduct or supports employee health, safety and wellbeing.
State-wide and shared risk
Provide support, expertise and leadership across the Victorian Government as required to manage state-wide or shared risk.
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