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Discover the improvements we’ve made to the Risk Maturity Benchmark self-assessment. 

RMB Improvements: What's New [PDF, 541KB]

About the Risk Maturity Benchmark

The Risk Maturity Benchmark is a free online self-assessment service available to all VGRMF agencies and departments. It’s designed to help you review, understand and improve your risk management practices on an annual basis.

Hosted on VMIA’s Self-Assessment Hub, the Risk Maturity Benchmark can be used as part of your annual continuous improvement cycle to:

  • assess how well your current risk management practices are working for your organisation
  • find opportunities to improve your risk management practices
  • compare your organisation’s results from year to year
  • benchmark your organisation against similar organisations after a full year.
  • review current practices against Victorian Government requirements for risk and insurance.

Accessing the Benchmark for the first time?

Enter your organisation’s full name (no abbreviations) in the box below. Choose your organisation from the list, and you’ll be taken to the Self-Assessment Hub. View our terms of use [PDF, 563KB].

Refer to these guides to help you navigate the self-assessment tool effectively.

Frequently Asked Questions

  • How does the Risk Maturity Benchmark work?

    Each year, from 1 July to 30 June of the following year, we encourage VGRMF clients to complete a Risk Maturity Benchmark self-assessment.

    The self-assessment helps you understand how well your existing risk management practices are working for your organisation, so you can improve them.

    To complete the assessment:

    • answer ‘yes’ or ‘no’ to a series of self-assessment questions across three topics, or review your answers from the previous year
    • view your organisation’s results, including current maturity rating score and confidence level
    • select from a list of improvement opportunities to create a tailored action plan
    • have the option to work through and update your action plan to improve results
    • finalise your assessment before the results are collected for benchmarking
    • view benchmarking results and reports once the assessment is closed.

  • What are the benefits of the Risk Maturity Benchmark?

    • You can discover how well your existing risk management practices are working for your organisation.
    • You can improve your internal risk management practices.
    • You can assess how effectively your risk framework is aligned to VGRMF requirements.
    • You can compare your results to previous results and compare them against other organisations.
    • You can improve your assessment results before they are collected for benchmarking.

  • How frequently can I complete a self-assessment?

    This is an annual service. You can review your answers as often as you want throughout the 12- month period. During that time, you can use your action plan to improve your organisation’s risk maturity and improve your results.

  • How will my results be used by VMIA? Will my insurance premiums be affected by my answers or results?

    No, your Risk Maturity Benchmark results will have no impact on your insurance premiums. These are calculated separately.

  • How do I improve my results?

    After completing your self-assessment, you'll be provided with a list of suggested improvement opportunities to review and use to create an action plan. If time permits, you can work through and complete actions prior to the end of the assessment. Any completed actions will result in a re-calculation of your score and changes to your results if appropriate.

    You can choose to complete all, some or none of your actions within the 12-month assessment period.

    See our Practical guidance for managing risk to help you to identify and work through the improvements.

Need assistance?

Get in touch at contact@vmia.vic.gov.au or call (03) 9270 6900.