Model for investment allocation project

The biosecurity risk-based Model for Investment Allocation Project will critically examine the work currently undertaken across Biosecurity Queensland’s business programs: Animal Biosecurity and Welfare (AB&W), Plant Biosecurity and Product Integrity (PB&PI), and Invasive Plants and Animals (IP&A)) and determine where resources are invested and how that matches with known or expected risk profiles.

The project will be undertaken in two stages.  Successful completion of stage 1 will result in:

  • development of a Microsoft Excel based risk assessment model that examines AB&W, PB&PI and IP&A risks, risk treatments and investment profiles
  • a report detailing high level results from the model, including assumptions made in obtaining the results and limitations of the model, and high level guidance on how the model can be improved in the future
  • development of a framework for change management across the three business programs.

Successful completion of stage 2 will result in:

  • development of a decision making framework that will guide senior decision makers in investment allocation
  • full adoption and implementation of the model and decision making framework view a view to redirecting resources from areas of lower risk/return on investment to areas of higher risk/return on investment
  • transformation of the change management framework developed in stage 1 into a change management plan with subordinate plans, including a communications plan, engagement plan, training plan and investment and disinvestment plans (if necessary).

Following adoption, development and implementation, the project outputs will result in providing greater consistency and transparency to stakeholders, including Queensland Treasury, that public funds are being utilised in an appropriate manner, commensurate with risk.