Comcover Awards for Excellence in Risk Management

2018 Information Kit

Classification

Comcover

An Invitation

Entities are invited to submit a nomination for the Comcover Awards for Excellence2018.

Entities can nominate in either of the following two categories:

Enterprise-Wide Risk Management Category
Risk Initiative Category

Awards for Excellence Overview

The Comcover Awards for Excellence in Risk Management (the Awards) recognise Australian Government entities that have demonstrated leadership and excellence in risk management practice.

The Awards acknowledge entities that have contributed to Government reform and the successful implementation of Government policy through the effective use of risk management.

Benefits

The benefits of participating in the Awards program include:

the opportunity for an entity to showcase their approach to managing risk;
peer recognition of the entity’s commitment to managing risk;
the opportunity to receive valuable feedback from our expert risk management judging panel; and
the sharing of best practice approaches to risk management, for the broader benefit of the APS.

Key Dates

18 June 2018 Nominations open

17 August 2018Nominations close

12-13 September 2018Short-listed entities present to judging panel

Award Categories and Criteria

1Enterprise-Wide Risk Management

The Enterprise-Wide risk management category assesses excellence in implementing risk management frameworks, practices and processes across the entity.

Entities are to demonstrate how the nineelements of the Commonwealth Risk Management Policy underpin theirrisk management framework and contribute to the strategic planning, management and decision making processes of the entity.

Criterion 1 - Planning and Implementation

The Planning and Implementation criteria provide the foundation for an entity’s framework and culture, driving how the officers within the entity engage with risk in the daily operations of the agency.Entities should demonstrate how the following nineelements of the Commonwealth Risk Management Policy underpin theirrisk management framework and contribute to the strategic planning, management and decision making processes of the entity.

Establishing a risk management policy
Establishing a risk management framework
Defining responsibility for managing risk
Embedding systematic risk management into business processes
Developing a positive risk culture
Communicating and consulting about risk
Understanding and managing shared risk
Maintaining risk management capability
Review and continuously improving the management of risk

In addressing this criteria, consideration should be given to providing evidence and discussion of:

How the entity has embedded their risk management framework across the entity to develop a culture that engages positively with risk;

Evidence that risk management is a high priority for the entity, resulting in a comprehensive framework being established that identifies, assesses and manages risk at all levels;
How the entity has developed its risk appetite to be dynamic and fully embedded into both operational and management activities;
How the entity identified adequate staffing required to undertake the work, including identifying the experience, knowledge, skills and behaviours of staff that were expected to support the achievement of successful outcomes;
How the entity ensured a comprehensive stakeholder analysis;
How the entity has developed strategies to communicate risk;
Training and education of risk management is a strong priority for the entity;
How the entity has trained staff in the management of risk ;
The culture of the entity is one that recognises both the positive and negative dimensions of risk;
What actions, or post event analysis, is undertaken to ensure the entity’s risk management plan remains relevant;

How the recommendations from regular reviews are reported to key stakeholders, including senior management, on a regular basis;

Discussion of how strong leadership displayed from senior management or executive, through their active support for the development of risk management and the implementation of the entity’s risk management policy and plan (championing by senior management);and
How any innovations or initiatives were implemented, including pilots/trials and enhancements for ensuing stages.

Criterion 2 - Demonstrable Results

Criteria 2 assesses results and outcomes achieved by the entities’ efforts in managing risk and enhanced risk management processes. In addressing these elements, consideration should be given to providing discussion and evidence of:

A description of the entity’s risk management framework;
How the framework is clearly defined and linked the entity’s management of risk with its overarching governance framework and operational processes;
What the entity’s appetite is for risk and the level of resourcing committed to risk management;
How the entity’s culture is one where understanding, accepting and managing appropriate risk is part of everyday decision making processes;
Benefits and results the entity has achieved to date, or the future benefits likely to emerge from the effective implementation of the entity’s risk framework;
Relevant data such as the overall reduction of incidents, as well as comparative evidence of the costs compared with the value of the results or benefits achieved;
How any challenges encountered were overcome;
How the results were compared with other peer agencies such as through the Comcover Benchmarking and/or Communities of Practice;
How successes were measured including qualitative and quantitative assessments;
How successes were communicated to all stakeholders;
How improvements have been sustained and integrated into the entity’s operations as business-as-usual; and
Documentation and formalisation of any changes to leadership, planning and governance; change and people management and innovation practices.

2Risk Initiative

The risk initiative category considers excellence in risk management relating to a specific entity program or project. Entities should discuss how the project or program was planned, implemented and managed to achieve enhanced outcomes or innovation. The narrative should provide details on how the inputs and outcomes of the initiative aligns with the nine elements of the Commonwealth Risk Management Policy.

Criterion 1 - Planning

Entities are required to show the approach taken to identify a particular risk initiative, including evidence of the planning undertaken to determine the strategies, processes, and resources required to achieve the goals and objectives of the specific risk initiative.

Entities would need to demonstrate excellence by providing strong evidence of:

The purpose and goals of a specific risk initiative, including evidence of initial planning, research and ongoing senior management approval;
Details of the strategies, plans and processes that guided successful implementation; and
The proposed approach in integrating the program/policy into the entity’s operating environment, and importantly, linking the risk management initiative with the entity’s overarching risk management framework.

Criterion 2 - Implementation

Entities should describe how the risk initiative was successfully implemented. It will be important to demonstrate the activities that were undertaken including the engagement of internal and external stakeholders, communication and reporting.

Excellence would be demonstrated by providing evidence of:

How the strategies and processes described in the approach were successfully implemented;
How risk management resources were monitored and deployed, including how staff were engaged and took ownership of new strategies or processes; and
How risk management was used to overcome implementation challenges to ensure the achievement of broader organisational goals.

Criterion 3 - Monitor and measure

Entities should articulate the outcomes achieved and the benefits to the entity from the particular risk initiative.This should include evidence of clear performance measures used to track the achievements of the risk initiative in the short term.

Excellence would be demonstrated by providing evidence of:

Clear performance measures in the short to medium term used to track the achievements of the risk initiative, including
Performance data that reflects a number of cycles, and
How consideration is given to outcomes and results achieved, in particular the comparison of performance prior to implementation and post implementation
How the entity’s culture has been enhanced by the initiative;
Benefits and results theinitiative has achieved to date, or the future benefits likely to emerge;
Relevant data such as the overall reduction of incidents, as well as comparative evidence of the costs compared with the value of the results or benefits achieved;
How the initiative benefits the entity, or the Government more broadly, over the long term, including:
how the risk initiative has contributed to achieving key outcomes for the entity; and
how the initiative has contributed to achieving the entity’s objectives or contributed to a whole of Government outcome – this could include the joint delivery of services or policy implementation across a number of portfolios
How any challenges encountered were overcome;
How successes were measured including qualitative and quantitative assessments;
How successes were communicated to all stakeholders;
How improvements have inspired other similar initiatives in management of risk across other business areas, or integrated into the entity’s operations as business-as-usual;
Documentation and formalisation of any changes to leadership, planning and governance; change and people management and innovation practices.

Criterion 4 - Sustain

In this criterion entities should articulate the longer term benefits for the entity, or the Government more broadly, arising out of the risk initiative.

Excellence would be demonstrated by providing evidence of:

How the risk initiative has contributed to achieving key outcomes for the entity; and
How the initiative has contributed to achieving the entity’s objectives or contributed to a whole of Government outcome – this could include the joint delivery of services or policy implementation across a number of portfolios.

Judging Process

All applications will be assessed against the criteria detailed above. Shortlisted entities will be invited to present their entity’s risk management initiative to the judging panel.

The judges reserve the right not to issue an award in any of the categories. All decisions of the judges are final.

Winners will receive recognition as the ‘Winner’, or receive a ‘Highly Commended’ or an ‘Honourable Mention’ in each of the two categories.

To Help You Complete Your Nomination

To present your application in the best possible way, please read the following tips, and keep them in mind when completing your nomination:

You can nominate for either or both of the Enterprise-Wide or Risk Initiative categories.
You will need to submit a nomination form, using the nomination templates, with your Awards application. The nomination templates are available from Comcover’s web page.
Applications should be limited to 10 pages (excluding cover pages and attachments).
Address each part of the selection criteria.
When addressing the selection criteria, provide a brief outline of the situation or setting, what action was undertaken and how this action achieved the desired outcomes.
Focus on results and describe the specificoutcomes and benefits that were achieved by your entity. Avoid the use of generic statements like, ‘the entity has really benefited from...’
Provide relevant examples to use as evidence of your entity’s achievements, including evidence of how those achievements were measured.
Only attach those documents that demonstrate and support your claims.
The Accountable Authority of your entity must endorse each application for the Awards.

How to Lodge a Nomination

The nomination templates can be found on the Comcover website at

Nominations are to be lodged electronically by COB 17 August 2018at

A confirmation email will be sent upon receipt of your nomination.

Information and Support

If you would like further information or clarification on the nomination process, you can contact Comcover on 1800 651 540, orsend an email to

Classification