The Risk Framework Quality Review (RFQR) assesses your organisation’s risk maturity against a seven element model, informed by the Victorian Government Risk Management Framework.
Seven risk management elements
- risk management culture
- governance and accountability
- resources and capability
- policy and plan
- risk management process
- validation and assurance
- inter-agency risk management
Benefits of RFQR
- Receive an independent assessment of the quality, comprehensiveness and maturity of risk management within your organisation.
- Gain a greater understanding of realistic opportunities to manage and anticipate risk.
- Integrate risk management practices into business planning and decision-making.
- Get advice to help strengthen governance through improved visibility, accountability and transparency.
- Develop or enhance your risk management approach.
VMIA works in partnership with you to undertake the four stages of the RFQR process.
Discuss your organisation’s requirements and confirm participation of staff, executives and board members.
Explore elements of your organisation’s risk management framework by reviewing relevant documents and meeting with representatives across the organisation. This information is used to identify your organisation’s current state of risk maturity against the seven element model.
The results of the review are discussed with management and reported to key stakeholders.
Following the review, the ongoing support and commitment are discussed and agreed. This may include: training, workshops and further consultations.
Each year, VMIA summarises the outcomes of the RFQR program, which includes an overview of participants, overall maturity assessment and trends.
The information assists in identifying emerging themes and key risks across the Victorian Public Sector, which informs future programs and services provided by VMIA.
View the results from the VMIA 2011-2012 RFQR Program [PDF, 622KB].
For more information about Risk Framework Quality Review, email email@example.com to contact our Risk Management Team.