a
>> Overvie
June 2008
A Guide to Risk Management
July 2011 Page 9 of 55
Risk management within the l Management Framework Queensland public sector
w Diagram Section 61 of the Act requires agencies to establish and maintain appropriate risk
management systems. There are many benefits of establishing robust risk management
systems to enable threats and opportunities that face an agency to be appropriately
managed.
Risk is an ever present element of public policy and government service delivery. Effective
risk management enables agencies to have increased confidence that they can deliver the
required services, manage risks and threats to an acceptable degree, and make informed
decisions about opportunities and challenges they face.
In the context of this Guide, risk management applies to the process of identifying, treating
and managing risks across the entire Queensland public sector. Risks that need to be
identified and managed include:
agency strategic and operational risks which are managed by individual agencies, but
which may become risks for the State, due to their size or significance
cross-agency risks, where a risk relates to more than one agency (for example,
collaborative projects) and requires treatment by multiple agencies to be effective, and
whole-of-Government risks which are beyond the boundaries of any one agency due to
their magnitude and/or impact on service delivery, and which call for a response across
agencies, would require a co-ordinated approach by a central agency or by a lead
agency.1
As whole-of-Government approaches to project management are becoming more common,
there is an increased awareness of the need to manage risks at this level. All agencies need
to be aware of and understand potential significant risks at the whole-of-Government level.
Identifying, treating and monitoring these risks are a shared responsibility.
a>> OvervieJune 2008A Guide to Risk ManagementJuly 2011 Page 9 of 55Risk management within the l Management Framework Queensland public sectorw Diagram Section 61 of the Act requires agencies to establish and maintain appropriate riskmanagement systems. There are many benefits of establishing robust risk managementsystems to enable threats and opportunities that face an agency to be appropriatelymanaged.Risk is an ever present element of public policy and government service delivery. Effectiverisk management enables agencies to have increased confidence that they can deliver therequired services, manage risks and threats to an acceptable degree, and make informeddecisions about opportunities and challenges they face.In the context of this Guide, risk management applies to the process of identifying, treatingand managing risks across the entire Queensland public sector. Risks that need to beidentified and managed include: agency strategic and operational risks which are managed by individual agencies, butwhich may become risks for the State, due to their size or significance cross-agency risks, where a risk relates to more than one agency (for example,collaborative projects) and requires treatment by multiple agencies to be effective, and whole-of-Government risks which are beyond the boundaries of any one agency due totheir magnitude and/or impact on service delivery, and which call for a response acrossagencies, would require a co-ordinated approach by a central agency or by a leadagency.1As whole-of-Government approaches to project management are becoming more common,there is an increased awareness of the need to manage risks at this level. All agencies needto be aware of and understand potential significant risks at the whole-of-Government level.Identifying, treating and monitoring these risks are a shared responsibility.
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