PM&C manages risk in a dynamic and responsive manner. Accordingly, we have a Risk Management Policy and Framework that reflects our uniquely complex and fast-paced operating environment. Our centralised risk management function works closely with the business planning, performance and audit functions. This helps integrate risk management into all departmental governance functions.
Implementation of the Risk Management Policy and Framework continues in 2021, with extensive engagement across the Department. Risk is reported regularly to the Executive Board, Audit and Risk Committee, and the Chief Risk Officer. All staff are required to complete and refresh basic risk and fraud training modules, and are encouraged to undertake Comcover risk training.
PM&C has identified three key strategic risks:
| Key risk | Mitigation strategies |
|---|---|
| The risk that the welfare of our people is not managed well. | The wellbeing of our people is our priority as we seek to improve on and deliver our outcomes. In 2020–21 we implemented the Flexible Work Policy, the PM&C Wellbeing Strategy, had an active Wellbeing network and SES champion and a range of related initiatives to support our people to feel safe and bring their full selves to work. In 2021–22 we will continue to monitor and review this risk. |
| The risk that we fail to deliver on the priorities of the Prime Minister and the Government, or on the critical enablers of government for which we are responsible. | We continually engage in practical environmental scanning to anticipate emerging risk and issues in our operating environment and ensure that we have the capacity and agility to respond to shifting and urgent priorities in collaboration with partner agencies, business, NGOs and other key stakeholders. We proactively anticipate issues and manage risk to our work and collaborate with partnering agencies to monitor delivery of Government priorities including through our support to the Cabinet Policy Implementation Committee. Our internal policy and processes help us to effectively manage risk including appropriate delegations, escalation processes and instructions to support consistent decision-making. Our workforce strategy enhances our ability to undertake practical workforce planning which, in turn supports getting the right people in the right role at the right time through targeted recruitment and capability development activities. |
| The risk that our advice to the Prime Minister and the Government is not of high quality or not delivered on time |