The work we do does not come without risk, whether those risks are to achieving our business objectives, risks in our day-to-day support work, or the risks in the delivery of our development and construction projects.
Risk is therefore a major consideration in everything we currently do and plan to do in the future.
And we manage these risks in an increasing regulatory environment that demands we achieve more with less through our Risk Management Framework, OH&S and Contractor Management systems and Emergency Management Planning, to ensure the safety of our staff, contractors, clients and tenants.
During 2012-2013, the Board Audit and Risk Committee met quarterly to monitor the high-level risks facing the organisation in achieving is strategic objectives. Major program and site specific risk management plans were also developed throughout the year for major activities including Back on Track in the Loddon Campaspe region and Wattlewood development in Carrum Downs.
The Board Audit and Risk Committee has approved a three-year Internal Audit program which will complement our risk management activities and existing assurance and review activities that are undertaken, as and when required. The current financial year sees this program being rolled out providing important assurance over key internal controls.
The Board also measures and monitors the business to ensure all reporting obligations to our funders and partners are fulfilled and internally the organisation routinely evaluates projects and operations against our agency business plan and key performance indicators.