The ARC has 5 strategic risks which are managed through its Risk Management Framework as outlined in Table 1.
TABLE 1: ARC Strategic Risks
Strategic Risk
Mitigation
The ARC is perceived to not be funding the best research
The ARC has a mature framework of policies and processes to support its grants administration and peer review systems. This includes a range of oversight, monitoring, and evaluation mechanisms to ensure this risk is being continually managed. The ARC has a range of policies and protocols in place to ensure the outcomes from ERA and EI meet the needs of the Government and its stakeholders. This includes extensive communication and consultation with stakeholders.
Outcomes from ERA and EI do not meet the needs of the Government and/or Stakeholders The ARC is not engaging effectively with its stakeholders (including across Government and with the research sector) The ARC fails to comply with its legislative requirements
The ARC has a number of communication and outreach policies in place, works closely across Government, and undertakes regular outreach with the research sector through a range of mechanisms and approaches.
The agency has well-established governance and financial processes for ensuring compliance with legislative requirements. The ARC also undertakes regular staff training, participates in cross-government groups and has a dedicated Legal Counsel. The ARC has responded to this emerging risk through reviewing related policies, clearly communicating conflict and compliance requirements with the research sector and works closely with other Government agencies.
ARC-funded research is compromised through foreign interference
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AUSTRALIAN RESEARCH COUNCIL Corporate Plan 2021–22
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