Our three-year strategy

In line with our reporting framework, we’ve set ourselves goals and targets from 2019 to 2022. Here’s how we aim to improve customer outcomes in Victoria over the next three years.

Our goals

We will be a strong and fair regulator who is trusted to deliver what is in best interests of consumers.

We will ensure that we are meeting government and public expectations as a strong but fair regulator across all of our functions. We will hold regulated businesses to account, promote behaviours that are in the best interest of consumers, and deter behaviour that is not consistent with the rules we administer.
We will be an innovative regulator that solves real problems.

We will continue to respond effectively to the changing technological environment and ensure we are well placed to:
assess what is happening
think about how to advise on and redesign our regulatory processes and reform our codes.
Regulated businesses deliver value for customers.

We will continue to ensure that our regulatory systems and requirements are designed to create effective relationships between those who deliver essential services and their customers. This includes creating incentives for regulated businesses and markets to respond to and engage effectively with customers about the value that they provide.
We will deliver regulatory services effectively and efficiently.

Everything we do needs to deliver value to Victoria consumers. We will prioritise effectively to ensure that resources are delivered in the areas that deliver the most value. We are innovative in our delivery of projects and effectively use all of the skills we have. We have a clear understanding of the effectiveness of what we do and we will ensure that we have sufficient resources to deliver on our statutory obligations.

Our supporting goals and processes

Our supporting goals focus on improving our stakeholder relationships, data management, staff development and workplace systems. We will achieve these supporting goals by following these processes:

Be a safe and skilled workforce.
Measure our own performance.
Manage financial resources.
Design and improve processes.
Capture and leverage knowledge.
Govern and plan the organisation.
Provide enabling information technology support.

Action plan

Here’s how we will transform our core business processes to meet our goals.

This timeline table shows commission led reforms from 2014-15 to future reforms in 2019-20.

Year	Transformational priorities	What will success look like?
2019–21 Years 1 & 2	Build and transform our enforcement capability The Victorian Government has committed to significantly increasing our enforcement powers. The public expects that, as a regulator, we continue to ensure businesses comply with regulatory requirements.	By the end of 2020 we will have a fully established enforcement capability that has significantly increased our ability to deliver appropriate enforcement action in a timely way. We will see a significant shift in perceptions by our stakeholders in our enforcement role over time.
2020–21 year 2	Modernise our advice and inquiry processes Work in an environment where technology is disrupting markets and supply chains, and customer segmentation is becoming more pronounced. We need to ensure that our analysis and advice is agile and fit for purpose.	We will have a clearer pipeline of new work and enhanced reputation for new work and advice. We will deliver innovative approaches to identifying and assessing regulatory problems and opportunities.
2020–21 year 2	Measure our performance We need to be clear about how we measure success. Our performance is critical to demonstrating that we deliver our services effectively and efficiently.	Performance measurement will drive planning within the commission and be core to our strategic thinking and operational improvement. Performance measures will also support our accountability to ministers, parliament and the Department of Treasury and Finance.
2021–22 year 3	Reform our market monitoring processes Reforming our market monitoring processes is critical to ensuring that we know whether we are achieving our goal of ensuring that regulated businesses and markets deliver value to customers.	By year three of this strategy, we aim to report on market and supplier performance in a more timely, innovative and influential way.

Annual Report 2018-19