Premier Daniel Andrews along with the Victorian Chief Health Officer will finalise details today and tomorrow for a plan to reopen.
Mr Andrews said that plan would include thresholds of how many cases the state can tolerate when reopening.
The plan will be announced Wednesday.
"If we can't achieve zero, despite our best efforts, how many cases can we tolerate? It will need to be a low number. It cannot be in the hundreds because it won't be in the hundreds for long, it will race and get away from us," Mr Andrews said.
"I want to be very clear with the people of Victoria, this will not be freedom day, it will not be an opening up type day.
"It will be modest changes that hopefully can be meaningful in peoples' lives, as much economic activity as is possible but they will be very modest changes because there is no middle ground here.
"It is either very low numbers or very, very high numbers, until we get people vaccinated."
Premier Daniel Andrews has confirmed 36 of today's 76 new COVID-19 cases were in isolation throughout their infectious period.
There are 52 in hospital, 16 of those are in intensive care and 15 are on a ventilator.
Mr Andrews said "very few" of those in hospital have had their first or second dose of the COVID-19 vaccine.
He said those on ventilators are aged between 38 to 72 years old, 49 was the median age of Victorians in hospital.
The 15 people on ventilators are aged between 38 and 72.
At least six people from Shepparton have been transferred to hospital in Melbourne.
VICTORIA recorded 76 new cases of COVID-19 overnight from over 50,800 tests.
Of the locally acquired cases, 45 have been linked to known cases and outbreaks.
Another 32,162 people were vaccinated for the virus taking the state's vaccination total to 2,413,606.
Victorian health authorities are hopeful the state's COVID-19 outbreak has stabilised, as the number of patients in hospital rises.
There were 49 coronavirus cases in Victorian hospitals on Monday - up five from the previous day - with 15 in intensive care and 11 on ventilators but the Shepparton outbreak had been fully traced.
It comes as Victorian Chief Health Officer Brett Sutton has said introducing different COVID-19 restrictions for different local government areas in the state was not off the table.
"Clearly we're doing pretty well in Shepparton; that gives options for regional Victoria," he told reporters in Melbourne yesterday," he said.
"At the moment, metropolitan Melbourne has exposure sites right across the metro area.
"I don't want to be in a situation where you drive people to leave certain LGAs to go to other LGAs ...
"So we have to bear that in mind, how human behavior responds to restrictions being in place or not being in place.
"But to the extent that we can apply things differentially - we've always tried to do that."
There are now more than 970 exposure sites across the state, including a ward at Dandenong Hospital, a school in Melbourne's north and a Shepparton hairdresser.
A decision on how long the state's sixth lockdown will be extended is set to be announced in coming days.
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