Enterprise Risk Management: A Guide for Government Professionals

Chapter SevenERM Maturity and Assessment

In the early stages of implementation at an organization, a great deal of support and cultivation is needed to ensure that ERM does not become a stagnate process but evolves over time. Many ERM implementers often communicate to stakeholders that ERM needs to evolve, and that integration will not happen overnight. Although this is true, the implementer should take care to include a missing component in ERM success—that is, the need to track and document that evolution. In a sense, ERM maturity is not too different from the process for reaching adulthood. Generally speaking, “maturity is the ability to respond to the environment in an appropriate manner.”¹ In measuring maturity from adolescence to adulthood, ...