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Case Study: Australian Risk Management Capability Maturity Model

Another risk maturity model worth considering is the Australian Government Commonwealth Risk Management Capability Maturity Model.¹


This model outlines the following levels:

  1. Fundamental

  2. Developed

  3. Systematic

  4. Integrated

  5. Advanced

  6. Optimal


It also provides criteria for measuring them against the following nine elements:

  1. Establishing a risk management policy

  2. Establishing a risk management framework

  3. Defining responsibility for managing risk

  4. Embedding systematic risk management into business processes

  5. Developing a positive risk culture

  6. Communicating and consulting about risk

  7. Understanding and managing shared risk

  8. Maintaining risk management capability

  9. 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

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