Victoria's Emergency Management Commissioner has urged the public to remain vigilant around water, following the state's fifth drowning in less than a week.

Key points: Mother drowned while attempting to rescue her child

Mother drowned while attempting to rescue her child Her death brings Victoria's number of drownings to seven this month

Her death brings Victoria's number of drownings to seven this month State's Emergency Management Commissioner urged swimmers to make "good decisions" before getting into the water

In the latest incident, a 34-year-old woman drowned while attempting to save her child, who was swimming in Lake Victoria, near Bairnsdale on Saturday afternoon.

Police said a group of children were swimming in Lake Victoria when one began to struggle.

The woman rushed into the water to save her child, but got into trouble herself.

Sergeant John Hodder said she was pulled out by family and friends, but was unable to be revived and died at the scene.

"The children raised the alarm and had to seek help from further up the property," he said.

"The husband has attended sometime later and unfortunately has retrieved the wife from the water, who was unable to respond to any assistance."

Police said the children all managed to get safely ashore.

Emergency Management Commissioner, Andrew Crisp said the incident emphasises how important it is that people are cautious when in and around the water this summer.

"If we are going to take anything away from these deaths, and we should take something away from them, it's just have them in them back of your mind, whether you are going to the beach, going to inland waterways, just think about the people that have died," he said.

"Hopefully it might help you make a good decision."

Commissioner Crips called for swimmers take caution before hopping into the water. ( ABC News )

This weekend the Victorian State Government announced that a $1 million plan to train surfers to save lives in the water was on track to be delivered in time for the next summer season.

The State Minister for Police and Emergency Services Lisa Neville made the announcement while opening a new observation tower for lifesavers at Ocean Grove on the Bellarine Peninsula.

However, Commissioner Crisp said while authorities were working hard to prevent drownings, swimmers' actions play a large part of ensuring water safety.

"The government's provided funding, lifesaving Victoria's doing some great stuff, [and] Victoria police, with their patrols, a whole range of different organisations, but ultimately it comes back to individuals making decisions," he said.

The death near Bairnsdale brings the number of drownings in Victoria this month to seven.