Case Study: Australian Risk Management Capability Maturity Model
Updated: Oct 28
Another risk maturity model worth considering is the Australian Government Commonwealth Risk Management Capability Maturity Model.¹
This model outlines the following levels:
Fundamental
Developed
Systematic
Integrated
Advanced
Optimal
It also provides criteria for measuring them against the following nine elements:
Establishing a risk management policy
Establishing a risk management framework
Defining responsibility for managing risk
Embedding systematic risk management into business processes
Developing a positive risk culture
Communicating and consulting about risk
Understanding and managing shared risk
Maintaining risk management capability
Reviewing and continuously improving the management of risk
¹ Details can be found at:https://www.finance.gov.au/sites/default/files/commonwealth-risk-management-maturity-model.pdf
A target level needs a reason as well as a label. In a separate cybersecurity context, choosing an Essential Eight maturity target illustrates how exposure, obligations and implementation evidence inform the target; its levels are specific to that model.
Most organizations believe they manage risk well until a structured maturity model reveals exactly where confidence ends and genuine capability begins. Australia's Risk Management Capability Maturity Model does precisely that, replacing assumptions with measurable gaps most leadership teams never knew existed. Executives serious about closing those gaps often credit a top-tier strategic risk management seminar & course for executives in Melbourne, Australia with giving them the analytical language to actually act on what the model uncovers. Frankly, maturity models like this only deliver value when leadership is honest enough to accept what the results actually say..