Risk Maturity Audit
All enterprises are subject to uncertainty, arising from a multitude of sources, including internal and external threats and opportunities from technical, management, project and commercial sources. The value of risk management is becoming increasingly recognised as the discipline develops and more organisations begin to reap the benefits of proactive management of uncertainty.
However organisations need an established benchmark for risk capability in order to know whether their risk processes are adequate, which will enable them to compare their management of risk with best practice.
The Risk Maturity Model (RMM) was developed to meet these needs, describing four levels of increasing risk capability, termed Naïve, Novice, Normalised, and Natural. The aim is to provide a structured route to excellence in risk management, with recognisable stages along the way which organisations can use to benchmark themselves against.