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Legislative Assembly for the ACT: 2000 Week 8 Hansard (31 August) . . Page.. 2849 ..


Options for treating risk are to:

� accept it;

� avoid it;

� reduce it; or

� transfer it.

Keep in mind that the costs of managing risks need to be commensurate with the risk exposure.

Specifying Quality Assurance is one way of managing risk eg to avoid late delivery, or goods or services not to specification. However, there may be many other risk treatments required throughout the entire process to reduce all the identified risks to an acceptable level. Specifying QA is one risk treatment that can be an integral part of the overall risk management plan.

Monitor and Review

This is a continual activity throughout the risk management process. It is necessary to note changing circumstances of the purchase, new risks and whether the impact on the risk management plan is effective and be prepared to change the plan.

For higher priority risks, you should regularly liaise with stakeholders to ensure that procedures are in place to address the identified risks and that these procedures are adequate. It is preferable that the whole process be documented for audit purposes.

Determine whether the final outcome of the purchase has met agency objectives.

4. USEFUL CONTACTS

4.1 ACT Purchasing Policy

ACT Contracts & Purchasing

Department of Urban Services

Level 4, Macarthur House

LYNEHAM ACT 2602

Telephone: (02) 6207 7377

Facsimile: (02) 6207 7366

Home Page: www.basis.act.gov.au

4.2 Ethics and Accountability

Ethics and Accountability

Office of Strategy and Public Administration

Chief Minister's Department

Canberra Nara Centre

CANBERRA ACT 2601

Telephone: (02) 6207 6136

Facsimile: (02) 6207 6200


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