This study presents a comprehensive assessment of risk management maturity in the Australian construction industry using a structured, data-driven approach based on the generic risk maturity model (GRMM). Although effective risk management is critical for organizational performance and project outcomes, existing literature has highlighted gaps in empirical benchmarking, item-level diagnostics, and progression pathways for maturity enhancement. This research addresses these gaps through a structured survey of 25 criteria across five dimensions: (1) Management Commitment and Leadership, (2) Organizational Risk Culture, (3) Risk Identification, (4) Risk Analysis, and (5) Standardized Risk Management Processes. Results indicate that organizations generally operate between Level 2 (Repeatable) and Level 3 (Managed), with leadership engagement and risk identification emerging as early strengths, whereas organizational culture and standardized processes lag behind. Detailed item-level analysis reveals critical weaknesses in communication, resource allocation, team ownership, and analytical capability, particularly among smaller firms and lower-tier organizations. Progression mapping illustrates the typical sequence in which risk management capabilities develop, beginning with leadership support, trust, and basic risk identification, followed by procedural formalization and cultural adoption, and culminating in optimized, fully integrated practices at Level 4. Correlation analysis further demonstrates strong interdependencies among criteria, indicating that improvements in leadership, standardization, and communication reinforce overall maturity. Sectoral, size, and tier-based analyses reveal nuanced patterns: top-tier and larger firms achieve higher maturity earlier, and industrial and commercial projects outperform infrastructure in certain dimensions. Collectively, these findings provide actionable, data-informed guidance for organizations seeking to enhance risk governance, offering a framework for prioritizing improvements, fostering cultural change, and embedding systematic risk management practices across all operational levels. The study contributes to academic understanding of risk maturity dynamics and equips practitioners and policymakers with practical strategies to advance risk management capabilities systematically in construction contexts.
Zagia et al. (Sat,) studied this question.