Risk Doctor Briefing
SERIES ARTICLE
Dr David Hillson, PMI Fellow, HonFAPM, FIRM
The Risk Doctor Partnership
United Kingdom
The International Association for Contract & Commercial Management (IACCM) is the professional body for contracting and commercial professionals, with over 50,000 members across 166 countries. Their mission is to enable both public and private sector organisations and professionals to achieve world-class standards in contracting and relationship management process and skills.
As part of fulfilling this mission, IACCM has developed a Capability Maturity Model*, which can be used by organisations to benchmark their contracting processes against global best-practice. The IACCM Capability Maturity Model uses nine factors to assess the performance of contracting processes. The model provides an objective assessment of maturity against five levels, allowing an organisation to compare its results with the competition and against world-class standards.
The nine factors of the IACCM Capability Maturity Model are also all relevant to the ability of an organisation to manage risk effectively. If we modify these nine factors to relate specifically to risk management capability, they look like this:
1. Leadership. Senior managers and executives need to understand key risk concepts. These include knowing what risk means, why it matters to the organisation, how risk management contributes to value creation, the relationship between strategy and risk, and how to make risk-informed decisions. Leaders can then role-model good risk behaviours and encourage their staff to do the same.
2. Customer Experience. Effective risk management requires a good understanding of key stakeholders, who need to be identified and engaged appropriately throughout the risk process.
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How to cite this paper: Hillson, D. (2019). Modifying the IACCM Capability Maturity Model for Risk, Risk Doctor Briefing; PM World Journal, Volume VIII, Issue VI, July. Available online at https://pmworldlibrary.net/wp-content/uploads/2019/07/pmwj83-Jul2019-Hillson-IACCM-Capability-Maturity-Model-for-Risk.pdf
About the Author
Dr David Hillson, HonFAPM PMI-Fellow CFIRM CMgr FCMI
The Risk Doctor
United Kingdom
Known globally as The Risk Doctor, David Hillson leads The Risk Doctor Partnership (www.risk-doctor.com), a global consultancy offering specialist risk services across the world.
David has a reputation as an excellent speaker and presenter on risk. His talks blend thought-leadership with practical application, presented in an accessible style that combines clarity with humour, guided by the Risk Doctor motto: “Understand profoundly so you can explain simply”.
He also writes widely on risk, with eleven major books, and over 100 professional papers. He publishes a regular Risk Doctor Briefing blog in seven languages to 10,000 followers, and has over 4000 subscribers to the RiskDoctorVideo YouTube channel (www.youtube.com/RiskDoctorVideo).
David has advised leaders and organisations in over fifty countries around the world on how to create value from risk based on a mature approach to risk management, and his wisdom and insights are in high demand. He has also received many awards for his ground-breaking work in risk management over several decades.
To see other works previously published in the PM World Journal by Dr David Hillson, visit his author showcase at http://pmworldlibrary.net/authors/dr-david-hillson/
