Step2 Step3
Step 4 Step 5
Step 6
Continue to monitor and adjust initiatives as appropriate.
Measure each megatrend impact: • directly in terms of the:
– cost to government (i.e. revenue attrition or expense pressure) or
– opportunity for government (i.e. improving service delivery economy, efficiency or effectiveness).
• indirectly in terms of the whole nation and the key responsibilities of government:
– economic prosperity
– security
– social cohesion
– environmental sustainability.
Identify and assess the range of policy, regulatory and program shifts that can:
• slow or extend the timeframes over which megatrend impacts could be absorbed, accommodated or dispersed
• mitigate the magnitude of the megatrend impacts on both the direct cost to government or the indirect impacts to the broader nation, economy and society
• take most advantage of the opportunities provided by any megatrend consequences.
Prioritize efforts on the policy, regulatory and program shifts that deliver the highest, risk- adjusted return. This requires an assessment of the long-term costs to government under changed policy setting scenarios. It is also predicated on a view that early intervention and adjustment/adoption today will realize greater benefits (economy, efficiency, effectiveness) than delaying such changes to future years and future generations. This applies both to risk transference, treatment or mitigation actions as well as opportunity adoption actions.
Execute selected policy, regulatory and program shift options by appropriately resourcing the strategies, structures and skills (capability and capacity-building) needed to deliver them.