Enterprise Risk Management (ERM) is considered an important management tool and part of good public sector governance in Australia. The Commonwealth of Australia and the states of Victoria and New South Wales have implemented ERM. In addition, the states of Tasmania and Western Australia have issued good governance frameworks which include risk management.  This piece will provide a historical overview of the risk management approach used by the Australian State of Victoria. It will then discuss the changes made in the 2020 revisions to its 2018 Victorian Government Risk Management Framework. Continue reading →