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A Risk Maturity Model (RMM) outlines key indicators and activities that comprise a sustainable, repeatable and mature enterprise risk management (ERM) programme.
The benefits of a Risk Maturity Model (RMM) are that it:
- Allows you to identify current strengths and weaknesses against common parameters
- Allows you to make comparisons across different areas of your organisation for consistency in risk management;
- Provides goal-oriented indicators of performance to feed into the planning process and enable you to focus resources on less mature areas of your organisation or programme
- Helps drive continuous improvement and allows you to measure performance
- Can be used to benchmark your capabilities
To take advantage of our free RMM assessment, visit our download centre to obtain your free ‘no-strings attached’ self-assessment questionnaire and contact us today to learn how you can customise it to your own industry and processes..
As part of our Standard Package we provide an online version with customised weighting to a customer’s industry and processes. However we our providing a simplified version free to introduce the concept to those unfamiliar with the concept of Risk Maturity Model (RMM).
Once completed in your own time, the assessment provides a personalized assessment of your scores against the following parameters:
- Process: Use of Standards tools and techniques
- Adoption: Knowledge of risk management discipline
- Culture: Risk management activities undertaken
- Visibility & Control: Awareness of benefits and value
This RMM helps you identify and prioritize gaps, as well as develop an action plan advance your risk management program. The RMM provides guidance to organisations and individual programmes wishing to develop or improve their approach to risk management, allowing them to assess their current level of maturity, identify realistic targets for improvement and develop action plans for increasing their risk capability.
The assessment requires no prior experience. The questionnaire can be completed either at the programme level or enterprise level; by a single individual completing the assessment on behalf of the ERM program (someone central to the risk management program and practices); or several individuals across the organisation or programme to then aggregate their scores.
At Dada we have used the RMM as part of our P3M3 consulting tool set suite to design real organisations’ organisational structure, processes, cost control and fee schedule and planning systems.
Remember to visit our download centre to obtain free tools to manage your projects on a no-fee basis for unfamiliar Project Leaders to explore these concepts.