Comcare’s business planning framework is underpinned by strategic and operational risk assessments. Ongoing risk management is the responsibility of all Comcare Executive members as part of their normal operations. The Audit Committee reviews the risk-management framework annually.
A comprehensive update of Comcare’s risk-management framework was conducted during the year to ensure consistency with contemporary risk management standards, and to reflect organisational responsibilities inherent in Comcare’s current structure. This resulted in the issue of enhanced risk-management guidance and tools for use by managers and staff.
Comcare’s key strategic risks are:
Comcare relies on a range of strategies to address these risks. These include management of stakeholder relationships, sound project management and contract management practices and building capability in the workforce.
Comcare participated in Comcover’s Risk Management Benchmarking Survey for 2011 and received an overall performance rating of 5.5. The average score for agencies with similar risk drivers was 5.9, indicating that Comcare’s risk management maturity is consistent with its peers.