Executing Our Strategy
Our strategy will be executed through a series of Annual Operating Plans (AOP) that allow us to define focus areas for each financial year.
These plans are created each year after consultation with key industry stakeholders to ensure our projects consider changing industry conditions and evolving needs of levy payers.
A new portfolio structure that provides an improved governance framework will form the basis of how we execute our strategy. These portfolios are centred around our strategic priorities. The key benefits of using a portfolio approach are:
- Ability to focus on outcomes while ensuring efficient execution of our strategy
- Strategic focus on the needs of the industry
- Ensuring collaboration among teams with a focus on levy payers.
Dairy Australia’s portfolios are governed through a ‘product and services lifecycle’. This provides a framework that guides how we can take an idea through to a fully delivered and evaluated project. We have already done substantial amount of work in embedding processes and ways of working across the organisation to enable the use of such a framework.
Example portfolio structure
|Portfolio 4 - Thrive in a changing environment|
|Projects||Greater ability to adapt to changes in the natural environment||Efficient and profitable use of land, water, carbon and energy resources which nurtures and sustains the natural environment||Proactive action to reduce global warming and greenhouse gas emissions|
Product and services lifecycle
Investment review and prioritisation
The ‘Investment Review Panel’ is comprised of senior managers at Dairy Australia and is responsible for:
- Reviewing project initiation requests and approving/ declining/deferring based on alignment with strategic priorities and the ability to deliver outcomes
- Assessing investment against projects
- Reviewing and approving/declining project change requests
- Identifying and allocating project sponsors and leaders
- Overseeing review of projects and approving their closure
- Reviewing Dairy Australia resource and skills requirements.
Role of Board of Directors
Dairy Australia’s Board of Directors continue to play a pivotal role in shaping our strategy and governing our execution framework. Key aspects of the Board’s involvement are:
- An active role to shape our strategy by providing their guidance and expertise on the key focus areas for Dairy Australia going forward
- Review and govern Dairy Australia’s key investments during the year – this is of most importance for the large investments which have been recommended by the Investment Review Panel
- Guiding Dairy Australia’s overall budget position each year as part of our Annual Operating Plan process.
Dairy Australia’s new strategy aims to be dynamic and responsive to the needs of the industry by maintaining engagement with levy payers and our stakeholders.
Over the period of five years, our goal is to continue evolving this strategy as feedback from levy payers shapes our priorities. These will be reflected in Dairy Australia’s Annual Operating Plan and in refreshed versions of our strategy which would be published periodically.