Maturity Models as a Vehicle for Improving Risk Management Practices
Monday, September 24th, 2007CEOs now readily recognize that risk is ubiquitous Also boards commonly accept the tenet that risk management improves business performance. However the benefits of risk management derived by organizations will depend directly on the level of maturity of their risk management practices.
In the absence of an organization-wide knowledge infrastructure, repeatable results depend entirely on the availability of specific individuals with a proven track record - and this does not necessarily provide the basis for long-term success and continual improvement throughout an organization. As a result, organizations are increasingly turning to maturity models for assessing and improving processes on the premise that the quality of a system or product is highly influenced by the quality of the process used to develop and maintain it.