New Practice Guide Provides Direction on How to Effectively Use Maturity Models for Optimal Benefits
For an organization to thrive in a constantly changing and evolving marketplace, it must have an accurate picture of where it currently stands and create a plan of where it wants to go.
Maturity models establish a systematic basis of measurement for use in describing the “as is” state of a process within an organization and describe process components that are believed to lead to better outputs and better outcomes. The IIA’s Practice Guide, Selecting, Using, and Creating Maturity Models: A Tool for Assurance and Consulting Engagements, provides practitioners with the information they need to effectively use this tool to maximize the benefits to their organization.
The guide stresses that maturity models are not one size fits all and that care must be taken in both the selection and the application of the model used. However, when appropriately selected or designed and then subsequently applied, they can provide:
- A framework for envisioning the future, the desired state, and the development of improvement plans.
- Benchmarks for the organization to compare its processes internally or externally.
- A mechanism to provide insight into the improvement path from an immature to a mature process.
- A disciplined method that is easy for management to understand and implement.
The Practice Guide provides internal audit practitioners with examples of when it would be appropriate to use a maturity model in an assessment, as well as examples of different types of maturity models available. It also identifies key considerations in selecting a model, provides guidance on their use, and outlines step-by-step instructions for creating a maturity model.
This Practice Guide is strongly recommended guidance.