Comcover risk management benchmarking program

The introduction of the Public Governance Performance and Accountability Act 2013 and the release of the Commonwealth Risk Management Policy (the Policy) in 2014 provided a catalyst for risk management reform in the Commonwealth. The Policy outlined requirements for entities to adopt a systematic approach to developing risk frameworks to better understand and manage risks they face in achieving their objectives.

The benchmarking program is a key element of Comcover’s risk management services. The benchmarking survey assesses the maturity of an entity’s risk framework against the nine elements of the Policy, using a risk maturity model. Findings from the survey can be used to inform how successfully risk management has been integrated into business operations and to assist in identifying areas for improvement and prioritising risk management activities.

Since 2014, the benchmarking data has shown an increase in the average overall risk capability of the Commonwealth. The benchmarking results indicate that entities are good at the foundational aspects of risk management but continue to struggle with the more complex elements of the Policy, such as shared risk, risk culture and maintaining risk management capability.

Entities are able to access prior years benchmarking survey results through the Comcover Launchpad.

The executive report is available in the Comcover Gateway and the Benchmarking Interactive Reporting Tool (BIRT) is available through the Business Intelligence Reporting Portal.

At the end of each year a key findings report is created and published. Access to the 2017 Key Findings Report is here.

2018 benchmarking survey

This is the fourth year of the current iteration of the benchmarking program.

The 2018 benchmarking program will commence with the release of the survey from Monday, 5 February to Friday, 16 March 2018 on the Comcover Launchpad. Entities should remember that the survey is a self-assessment of their current state of risk management maturity. Benchmarking your risk management framework and capability provides the opportunity to review and measure how successfully risk management has been integrated into business operations and also, to assist in identifying areas for improvement and prioritising risk management activities. 

To assist entities, survey questions have been made available to entities in December 2017.

Further information

Please contact Comcover for further information on the benchmarking program.
Phone: 1800 651 540 (Option 4)
Email: comcover@comcover.com.au
Website: www.comcover.gov.au

Last updated: 12 February 2018