Risk Management Maturity

Assessing risk begins with baselining, establishing a current state to get to the desired state.  Progress is measured by meeting milestones and objectives, i.e. a maturing process.  For example,  the capability maturity model has the following framework:

1. Initial – informal
2. Documented Strategy & Principles – formalizing
3. Adaptive Security Architecture – well defined
4. Security Organization & Roadmap – optimized
5. Baseline Security Standards – quantitatively controlled

Give examples of risk at the level of these categories and how each level mitigates risks from the previous level?