Operational Risk Management – Understanding, developing and using KRIs (Key Risk Indicators)

Key Risk Indicators (KRIs) are the measures and metrics that relate to a specific risk and show a change in the likelihood or result of that particular risk occurring. KRIs provide an early warning to identify potential events that may harm continuity of an activity, operation or a project. Their use is an integral part of the risk management process.

This course provides an introduction into understanding, developing and using KRIs in everyday business activities. In this course, we will discuss how KRIs fit into the risk management spectrum, how KRIs are developed and how they are used.

Specific issues covered are; developing effective KRIs, how KRIs provide opportunities for proactive strategic risk management, KRI information sources, and how KRIs are set up for practical use. The course material is illustrated with many examples to provide a practical view of KRIs in action.