Public Risk Management Implementation


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Melbourne Water, Australia

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Public Risk Management Implementation

  1. 1. Public Risk Management Implementation - Melbourne Water Context – Summarized from Melbourne Water Annual Report 2004 - 2005 Diane Christina SE,MM, CPRM Managing Director APB Group (Group of Consultant in Indonesia, Australia, Malaysia) Board Member Indonesia PRiMA (Professional in Risk Management Association) Lecturer in Catholic University of Parahyangan, Bandung [email_address]
  2. 2. Risk Management Implementation - Melbourne Water <ul><li>Melbourne Water is owned by the Victorian Government, with an independent Board of Directors responsible for governance. The responsible Minister is the Minister for Water. </li></ul><ul><li>Melbourne Water manages Melbourne's water supply catchments, removes and treats most of Melbourne's sewage, and manages rivers and creeks and major drainage systems in and around the city </li></ul>
  3. 3. Risk Management Implementation - Melbourne Water <ul><li>What is Risk Management approach that taken by them? </li></ul><ul><li>Melbourne Water recognises their commercial, social and environmental responsibilities by taking 'whole of their business' approach </li></ul><ul><li>Through considering risks in infrastructure and resource management, stakeholder relations, people, public health, environment, reputation and image, economic regulation, information management, commercial and corporate governance. </li></ul>
  4. 4. Risk Management Implementation - Melbourne Water <ul><li>How and When they conduct the risk assessment? </li></ul><ul><li>Risk assessments are conducted regularly to identify: </li></ul><ul><li>the likelihood or probability of a risk occurring, </li></ul><ul><li>the consequence of a risk occurring and </li></ul><ul><li>the existing level of business risk </li></ul><ul><li>Operational risks are managed on a daily basis. </li></ul>The capital prioritisation process uses risk assessment as a tool for investing
  5. 5. Risk Management Implementation - Melbourne Water To assist in strategic management, Melbourne Water has identified and assessed 12 key strategic risks ( the larger the representation, the greater the risk exposure to Melbourne Water )
  6. 6. Risk Management Implementation - Melbourne Water <ul><li>How Melbourne Water manage 12 key strategic risks that has been identified and assessed? </li></ul><ul><li>Their risks will continue to be managed through a robust risk management framework, including certified management systems, skilled people, strong contractual relationships, close working relationships with stakeholders and the community, sound operational procedures, capital and assets maintenance management programs, and a watching brief on changes in research and technology. </li></ul>
  7. 7. Risk Management Implementation - Melbourne Water <ul><li>How they deal with large-scale event? </li></ul><ul><li>Melbourne Water has an emergency and incident management framework and a comprehensive insurance portfolio, and has taken part in developing industry response plans and protocols to apply in the event of a large scale incident. </li></ul>
  8. 8. Risk Management Implementation - Melbourne Water <ul><li>How to measure MW Mitigating Strategies? </li></ul><ul><li>By assessing the effectiveness of their mitigating strategies, </li></ul><ul><li>MW strengthened their risk assessment </li></ul><ul><li>Risk management does not mean that Melbourne Water will avoid all risks. Rather, it allows us to understand our risks and manage them in a consistent manner. </li></ul><ul><li>Effective and efficient risk management is central to achieving sustainability. </li></ul>
  9. 9. Risk Management Implementation - Melbourne Water <ul><li>How MW apply the monitoring and review of their risk? </li></ul><ul><li>We reassess our risk profile through external reviews by the Victorian Auditor General, other specialists and internal audits, and undertake a risk self-assessment review every six months. </li></ul><ul><li>The results of all these reviews are presented to our Audit and Corporate Risk Committee </li></ul>
  10. 10. By. Diane Christina