Author: Government recordkeeping
The Value and Risk Policy, was formally issued by the Keeper of Public Records on 1 March 2022.
PROV developed this policy to address the need for agencies to manage the growing number of records and increased complexity of the systems and environments that records exist within. It is recognised that resources are limited, and that prioritisation is necessary.
Prioritising high value, high risk records when making records management decisions, including when designing systems and processes, enables the best use of limited resources while ensuring key records are managed appropriately.
The new policy is located on our Recordkeeping Policies Topic Page, here: https://prov.vic.gov.au/recordkeeping-government/a-z-topics/policies
Please see PROS 19/03 Strategic Management Standard and the associated Strategic Management Guideline for information on how to implement a value-risk based approach: https://prov.vic.gov.au/recordkeeping-government/standards-framework.
Please also note that Retention and Disposal Authorities consider value and risk when setting retention periods for records. For more information on setting retention periods see our disposal topic page here: https://prov.vic.gov.au/recordkeeping-government/how-long-should-records-be-kept