B.4 Risk Management

Risk Management in CMTEDD supports the directorate to meet strategic and operational objectives and supports the ACT Government’s commitment to managing risk to meet its fiscal, social and environmental responsibilities.

The directorate’s approach to risk management is based on the Australian and New Zealand Risk Management Standard (AS/NZS ISO 31000:2009) (‘The Standard’). The CMTEDD Risk Management Framework and Policy Statement and the CMTEDD Risk Management Plan provide all staff with the foundation of risk management processes within the directorate to ensure a consistent, effective and efficient approach to the identification, treatment and management of risk.

Training across the directorate supported the effective application of the risk framework and plan. During the reporting period 350 staff participated in risk management training. The training offered included CMTEDD specific training at the introductory level and for the management of risk in projects; in addition to training accessed by staff provided by the ACT Insurance Authority.

The CMTEDD Audit and Risk Committee and Executive Management Group had oversight of risk management within the directorate. The ongoing monitoring and review of directorate risk registers ensures that the directorate’s risk profile retains its accuracy and currency. The CMTEDD Strategic Risk Register and divisional risk registers are reviewed regularly. Existing risks were monitored and reported on utilising risk treatment action plans while emerging risks were identified, reported and reviewed to determine if they should be included in the directorate Strategic Risk Register.

Business continuity management is a core component of good governance and supports the directorate’s commitment to undertaking the delivery of the directorate’s critical business functions where a business interruption risk has been realised. During the reporting period the CMTEDD Business Continuity and Disaster Recovery Framework and Policy was formally endorsed. The framework and policy will be reviewed every two years to ensure business continuity planning is effective and continues to support organisational resilience.

The process to comprehensively review and update the directorates business continuity plans (BCP’s) continued. Testing of the plans is undertaken utilising a combination of scenario exercises, walk though exercises and emergency simulations. Two tests, testing the response of four plans were undertaken during 2016-17 in accordance with the CMTEDD Testing Schedule.

Further information can be obtained from

Sue Hall
Executive Director
Corporate
+61 2 6207 0569
Sue.Hall@act.gov.au