Difference between revisions of "Risk Maturity Model (RMM)"
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| − | '''Risk Maturity Models''' provide a generally accepted framework of | + | '''Risk Maturity Models''' provide a generally accepted framework of benchmarks useful in assessing the stage of [[Risk Management|risk management]] implementation. In an academic (theoretical) dimension, Risk Maturity Models are useful in understanding the degree of sophistication of the risk management process and practices, its reliability and effectiveness at each stage. M |
| − | Risk Maturity Models are useful for organizations that wish to develop or improve their current approach to risk management (Chapman 2006:115). Risk Maturity Models are also applicable for rating companies against key competitors or | + | Risk Maturity Models are useful for organizations that wish to develop or improve their current approach to risk management (Chapman 2006:115). Risk Maturity Models are also applicable for rating companies against key competitors or best practice. |
Typically, the Risk Maturity Model is structured as a matrix in which the levels of maturity are cross-referenced with the attributes reflecting the primary risk management practices. Each of the matrix’s field outlines the competences that indicate the attained or desired practices. | Typically, the Risk Maturity Model is structured as a matrix in which the levels of maturity are cross-referenced with the attributes reflecting the primary risk management practices. Each of the matrix’s field outlines the competences that indicate the attained or desired practices. | ||
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=== See Also === | === See Also === | ||
| − | [[Governance]] | + | *[[Governance]] |
| − | [[Corporate Governance]] | + | *[[Corporate Governance]] |
| − | [[IT Governance]] | + | *[[IT Governance]] |
| − | [[Risk Analysis]] | + | *[[Risk Analysis]] |
| − | [[Risk Assessment Framework (RAF)]] | + | *[[Risk Assessment Framework (RAF)]] |
| − | [[Risk Management]] | + | *[[Risk Management]] |
| − | [[Risk Management Framework (RMF)]] | + | *[[Risk Management Framework (RMF)]] |
| − | [[Information Technology Risk (IT Risk)]] | + | *[[Information Technology Risk (IT Risk)]] |
| − | [[Enterprise Risk Management (ERM)]] | + | *[[Enterprise Risk Management (ERM)]] |
| − | [[Risk IT Framework]] | + | *[[Risk IT Framework]] |
| − | [[Risk Assessment]] | + | *[[Risk Assessment]] |
| − | [[Risk-Adjusted Return]] | + | *[[Risk-Adjusted Return]] |
| − | [[Risk-Adjusted Return on Capital (RAROC)]] | + | *[[Risk-Adjusted Return on Capital (RAROC)]] |
| − | [[Risk Matrix]] | + | *[[Risk Matrix]] |
| − | [[Risk Based Testing]] | + | *[[Risk Based Testing]] |
| − | [[Risk Maturity]] | + | *[[Risk Maturity]] |
| − | [[Risk Mitigation]] | + | *[[Risk Mitigation]] |
| − | [[Operational Risk]] | + | *[[Operational Risk]] |
| − | [[Operational Risk Management (ORM)]] | + | *[[Operational Risk Management (ORM)]] |
| − | [[Architectural Risk]] | + | *[[Architectural Risk]] |
Latest revision as of 21:35, 12 December 2022
Risk Maturity Models provide a generally accepted framework of benchmarks useful in assessing the stage of risk management implementation. In an academic (theoretical) dimension, Risk Maturity Models are useful in understanding the degree of sophistication of the risk management process and practices, its reliability and effectiveness at each stage. M
Risk Maturity Models are useful for organizations that wish to develop or improve their current approach to risk management (Chapman 2006:115). Risk Maturity Models are also applicable for rating companies against key competitors or best practice.
Typically, the Risk Maturity Model is structured as a matrix in which the levels of maturity are cross-referenced with the attributes reflecting the primary risk management practices. Each of the matrix’s field outlines the competences that indicate the attained or desired practices.
See Also
- Governance
- Corporate Governance
- IT Governance
- Risk Analysis
- Risk Assessment Framework (RAF)
- Risk Management
- Risk Management Framework (RMF)
- Information Technology Risk (IT Risk)
- Enterprise Risk Management (ERM)
- Risk IT Framework
- Risk Assessment
- Risk-Adjusted Return
- Risk-Adjusted Return on Capital (RAROC)
- Risk Matrix
- Risk Based Testing
- Risk Maturity
- Risk Mitigation
- Operational Risk
- Operational Risk Management (ORM)
- Architectural Risk
References