Factors Affecting Risk Management Maturity in Saudi Arabia Organisations

Abstract

The level to which risk management is embedded in an organisation’s procedures, Culture, and decision-making is known as risk management maturity. This project discusses the concept of risk management maturity and its significance within the organisation. Therefore, the study aims to provide several factors influencing risk management maturity within organisations and recommendations to improve organisational risk management maturity, focusing on three key factors: organisational culture, size of the organisation, and training programs. Data were collected through a survey, with 53 responses obtained from various sectors in Saudi Arabia. The survey questions were designed using the ISO31000 framework and data analysis using SPSS software. The results indicate a medium positive relationship between risk management maturity and culture. Similarly, the results indicate a medium positive relationship between Size and RMM, which is statistically significant. Furthermore, the findings show a significant positive relationship between training programs and risk management maturity. These findings support the importance of investing in comprehensive training programs to enhance risk management maturity in Saudi organisations and the role of the culture and size of the organisations in improving risk management maturity.