What are the benefits of undertaking a self-audit using DRAMBORA?

Completion of the DRAMBORA self-audit process will yield a number of valuable results, facilitating both retrospective reflection and proactive planning for participating organisations. 

Firstly, organisations will have established a documented self-awareness of their fundamental objectives, and of associated activities and assets. By defining their operational contexts, organisations are well positioned to determine their own assessment parameters as well as verify that their resources are optimally invested and positioned to ensure success.

Secondly, organisations will have developed a documented understanding of the risks they face expressed in terms of their likelihood and potential impact. Mapped to organisational aspirations and efforts this will facilitate subsequent organisational development and resource allocation, and offer a quantifiable insight into the contemporary severity of risks faced. 

Finally, organisations will have defined their chosen means for risk management, determining the appropriate strategies for avoidance, treatment, transfer and tolerance, as well as the mechanics of their implementation. This process, which should be repeated on a regular basis, will provide opportunities to establish and achieve quantifiable targets, facilitating the ongoing development of every aspect of organisational activity.

As well as being a tremendously valuable process in and of itself, self assessment with DRAMBORA is expected to represent a worthwhile precursor to external audit, accreditation, and certification when these services become broadly available. The six stages of self-audit correspond closely to the preparatory work that organisations will be expected to undertake prior to exposure to full audit, and the aggregated insights and documentation will be highly reusable.