ISO 37004:2023

ISO 37004:2023 gives guidance on measuring the maturity of an organization's governance in terms of ISO 37000: how far the governing body has established the seven governance conditions and applied the eleven governance principles. Clause 4 defines the three maturity aspects, governance behaviour (adoption, understanding, application, analysis, evaluation, improvement), governance effectiveness (the practices used to apply each principle) and governance efficiency (how far the practices are made explicit, delegated, consistently applied and improved through the seven governance components: frameworks, strategies, policies, performance results, charters, management reports and component reviews, with Table 1 setting the contents of a governance framework). Clause 5 gives the measurement framework: five activities (commit, design, implement, oversee, action), nine measurement principles, and a six-point scale from 0 undefined to 5 optimizing described per aspect (Tables 2 to 6), with aggregation by arithmetic mean rounded down. Clause 6 gives the maturity model: the dimensions (conditions and principles), evaluation judgements (a dimension's result is the lowest of its aspects), aggregation, the determination of the appropriate rather than the highest level of maturity, short- and long-term improvement targets, prioritised and overseen improvement initiatives, an evaluation template and transparent maturity reporting. Guidance, not certifiable; the measurement companion to ISO 37000 and the basis for governance self-assessment, benchmarking and disclosure. It comprises 35 controls organised across 3 domains, and applies in International.