Blue Zoo has been awarded a significant contract to automate risk management capability maturity self-assessment’s across whole-of-government in Victoria.
The Victorian Managed Insurance Authority’s (VMIA’s) role is to monitor risk management undertaken by Victoria Government departments and agencies. VMIA currently performs risk maturity assessments face to face. The risk maturity assessment is a lengthy process which requires significant resourcing and client interaction in order to perform the appropriate level of analysis, due diligence and quality in evaluating their risk maturity.
Blue Zoo has been awarded a multi-year contract to implement an online risk scorecard solution to automate the risk management maturity self assessment process. The solution will adopt our international award winning software platform (Governance Manager). The objectives of the project are to:
- Broaden participation in risk maturity assessments across the public sector (4500 clients with $173 billion in insured assets)
- Provide agencies with support and guidance to improve their risk maturity
- Collect data in a consistent and standardised form to support analytics, reporting and benchmarking
- Increase Victorian Government line of sight for risk management.
About the VMIA
As a Victorian statutory authority reporting to the Minister for Finance, VMIA’s core business is service delivery on our statutory charter in four key result areas:
- Prevention – helping the state prepare for, prevent or reduce the impact of harm
- Recovery – helping our clients restore services and recover quickly
- Assurance – helping improve risk governance and management
- Financial sustainability – operating effectively and efficiently.
At a whole-of-government level VMIA works to:
- provide risk management advice to the state
- monitor public sector risk management
- provide insurance or indemnities to public officers
The Risk Scorecard Project
The Risk Scorecard led by Blue Zoo, will deliver an automated and easy to use online risk self-assessment tool. The tool will be made available to VMIA’s 4500 clients during a staged roll out. The Risk Scorecard will inform:
- Agencies’ risk maturity improvement plans and understanding of requirements of the Victorian Government’s Risk Management Framework (VGRMF)
- whole-of-government risk management reporting
- VMIA’s service delivery offering to agencies
The services delivered by Blue Zoo include:
- ‘implementation services’ for the design, development, build and testing of the online application
- consultancy support for the risk maturity framework content and scoring model
- ongoing ‘maintenance and support services