Risk Maturity Model Resources
Below outlines educational resources on the RIMS Risk Maturity Model, and other risk management maturity best practices, including the RMM assessment, frequently asked questions (FAQs) and additional support for the ERM community.
In 2015, dozens of qualifying organizations were evaluated to received the inaugural RMM Recognition. Of those, 16 exceptional companies received the 2015 RMM Recognition for adopting and operationalizing mature ERM programs. These case studies highlight the 2015 RMM Recognition recipients; sharing their success stories, providing insights from organizational achievement, and outlining next steps for continued maturity and growth.
The RIMS Risk Maturity Model (RMM) provides a framework and self-assessment survey for improving enterprise risk management practices. This online ERM resource allows risk practitioners to score their risk programs and receive a real-time report. The analysis, based on guidelines set forth in the model, serves as a custom action plan as your organization’s road-map for improvement. Click here to take the assessment.
What is the importance of RIMS RMM assessment for enterprise risk management? How is it relevant to your organization? What is the RMM based off? The RIMS Risk Maturity model was developed to advance the risk management discipline by spreading industry best practices and providing answers to key questions such as those listed. For answers to commonly asked RMM questions, click here to visit the RMM FAQ page.
About the RIMS Risk Maturity Model (2015 PDF Report)
RIMS defines “enterprise risk management (ERM) as a strategic business discipline that supports the achievement of an organization’s objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio.” The report titled, About the RIMS Risk Maturity Model, explains the history and approach to this definition. Click here to download the full report, About the RIMS Risk Maturity Model.
The 2015 State of ERM Report (2015 PDF Report)
The State of ERM Report outlines current enterprise risk management (ERM) trends and influences. As industries and requirements from regulatory agencies evolve each year, new trends have emerged since 2008. These trends are impacting risk management programs and shaping best practices. Click here to download the full 2015 State of ERM Report.
Testing Value Creation Through ERM Maturity (2015 PDF Report)
This report, published by the Risk and Insurance Management Society, presents an enterprise risk management (ERM) value hypothesis, making a propelling case for all organizations to adopt an ERM program. This report highlights ERM trends, data on ERM practices across industries and explores the attributes of successful ERM programs, as defined by the RIMS Risk Maturity Model (RMM). Click here download the full report.
Why A Mature ERM Effort is Worth the Investment (2015 PDF Report)
Articulating the value of enterprise risk management (ERM) and its return on investment is a frequent challenge organizations of all industries face when securing the time and resources to implement a new program. Building the business case requires data and statistical evidence. This report highlights independent research and statistical analysis on the value of enterprise risk management; click here to download the full report.
In 2014, the prestigious Journal of Risk and Insurance published the independent research study, “The Valuation Implications for Enterprise Risk Management Maturity.” This rigorous peer-reviewed academic study by Queens University MBA program definitively quantifies a 25% market valuation premium for firms that have reached mature levels of enterprise risk management, as defined and measured by the RIMS Risk Maturity Model (RMM). Click here to read the article summary or access the full RMM study here!
Press releases, studies, reports and more, the Risk Maturity Model blog archive is your source for the most up to date news about risk management and the RMM assessment. Managing Tomorrow’s Surprises Today is the leading blog for risk management, written by Steven Minsky, CEO of LogicManager and author of the RMM. Click here to visit the RMM blog!
Connect and manage all your organization’s risk, governance and compliance activities using an integrated solution. With a common framework for organizing, assessing and prioritizing governance activities, programs can significantly decrease duplicate effort across departments and maximize overall performance. Click here to visit LogicManager and learn more about the leading provider of ERM/GRC solutions.
RMM News Archive
Below is an archive of RIMS Risk Maturity Model press releases, news and articles. For recent news, discussions, and real world examples surrounding enterprise risk management, click here to visit the LogicManager blog.
Published Reports, Articles & Studies
RIMS Reports Chart Growth of Enterprise Risk Management (Online Article)
The implementation of enterprise risk management is making significant strides; “adopting ERM is a commitment,” RIMS President Rick Roberts said in a news release. “The initial implementation process is only the beginning. Risk professionals must continue to work to advance their risk programs, to maintain support from leadership and keep operations managers engaged.” Click here to read the full article!
RIMS Executive Report: The Risk Perspective (PDF Report)
This PDF summarizes the most widely used risk management standards and guidelines, coauthored by the RIMS Standards and Practices Committee and the RIMS ERM Committee. This report identifies common elements between the RIMS Risk Maturity Model and the six most widely used risk management standards, helping simplify and streamline competing standards into the key components. Click here to access the PDF report!
RMM Value: A Growing Body of Evidence (Online Article)
This article published in 2009, highlights the positive effects of implementing enterprise risk management within an organization. Focusing on the RIMS Risk Maturity Model (RMM) as a method to embrace and implement ERM, this article aligns the RMM and ERM with better business performance, higher credit ratings and more. To learn more about the benefits of implementing enterprise risk management, visit the full article here!
Strategic Risk Management: Taking Action (PDF Report)
Published by MARSH in 2012, this report explores the importance of strategic risk management through relevant case studies. What opportunities exist to make risk management a stronger contributor to an organization’s overall strategic planning? For the answer to this, and many more key questions, access the full PDF report here!
ERM: The New Imperative (PDF Report)
An executive white paper published by the environment, health and safety consulting firm, Lexicon Systems, discusses enterprise risk management as a new strategic imperative. This report highlights various risk management frameworks (including COSO, the RMM, Basel II, etc.) and the importance of integrating risk with governance and compliance. Additionally, it builds the business case for utilizing software to standardize processes and more effectively manage risk. To read more, access the full PDF report here!
Published by RIMS and the Institute of Internal Auditors (IAA), this executive report examines risk management and internal audit as independent yet connected roles, highlighting the commonalities that typically are overlooked. Making the case for increased collaboration, risk and internal audit can benefit from one another, cutting back on duplicative work and providing increased efficiency and value to the organization. Read the full report here!
Enterprise Risk Management Seen as Key to Avoiding Corporate Catastrophe (EHS News Article)
Published in 2008, this article highlights key findings from the ‘RIMS State of ERM Report 2008‘, the first in-depth study on enterprise risk management practices. These findings include the value ERM provides for organizations of all types/industries, and the correlation between increased ERM maturity and higher credit ratings. To learn more about the study of ERM practices, visit the full article here!
RMM Press Releases
RIMS and LogicManager Celebrate 10 Years of Delivering Assessment Tool to Risk Professionals (Press Release circa 2015)
Back in 2005, RIMS and LogicManager teamed up to offer risk professionals RIMS Risk Maturity Model (RMM), a free assessment tool for executives in risk management to develop and improve sustainable risk management programs. For 10 years, the RMM assessment has been used by thousands of risk professionals across more than 60 countries to score and pinpoint areas for improve to their risk management practices. To learn the more, visit the full press release here!
RIMS REPORTS: State of ERM Report 2015, About RIMS Risk Maturity Model (Press Release circa 2015)
At RIMS ERM Conference 2015 in Chicago, the Society announced the release of two Executive Reports, the State of ERM Report 2015 and About the RIMS Risk Maturity Model. The reports, both authored by RIMS Director of Strategic & Enterprise Risk Management Practice Carol Fox and LogicManager’s CEO and founder Steven Minsky, are aimed at helping risk professionals assess their current programs and achieve greater success implementing cross-functional risk management strategies.. To learn the more, visit the full press release here!
RIMS Launches Risk Maturity Model for Enterprise Risk Management (Press Release circa 2006)
In 2006, Risk and Insurance Management Society launched RIMS Risk Maturity Model for Enterprise Risk Management (ERM). Known as the RMM, this resource is a sophisticated educational and reference tool, that provides best practices and guidelines for developing, implementing and maturing a risk management program. To read the more, visit the full press release here!
RIMS Offers ERM Maturity Model Tool (Press Release circa 2007)
In 2007, RIMS published an article emphasizing one of the most important takeaways of the RIMS Risk Maturity Model, that too often risk management is looked at from a compliance standpoint, even though “you’re not measuring value with that type of approach,” said Steven Minsky, CEO of LogicManager and developer of the RIMS Risk Maturity Model. To read more, visit the full article here!