1.27 In its 2009-10 MPR Review, the ANAO noted the work being undertaken by the DMO to "…better understand and map the business and its controls in the context of enterprise risk management. This includes examining models, and approaches that can generate improvements in risk management behaviourʺ162. The ANAO also concluded its review assessment by noting that ʺ…considerable work remains to be undertaken before effective enterprise risk management is in placeʺ163.
1.28 The DMO acknowledges this assessment and in 2010-11 sought to address the identified weaknesses in the DMO risk management system through a structured program of: stakeholder engagement; more sophisticated risk awareness; identification and analysis; and, development and testing of key risk management controls and frameworks.
1.29 The process of establishing the strategic direction for the 'DMO Wide Risk Management Framework' and improving enterprise risk management behaviours has involved the following initiatives:
• maturing and socialising the 'DMO Wide Risk Management Framework', which links Strategic, Corporate, Divisional and Project level risks;
• identification of key control frameworks that assist the management of the risks; and
• an assessment of the maturity of key control frameworks.
1.30 These initiatives will be further developed in 2011-12 to better integrate risk management discipline across all DMO activities.