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.

Learning Objectives
  • Explore how KRIs differ from KPIs (Key Performance Indicators).
  • Identify the critical stages in the KPI process.
  • Discover how management’s objectives are linked to corporate strategies and to KRI’s.
  • Recognize the critical issues that must be addressed to make your KRI program practical.
  • Discover the vital issues involved in the reporting of KRIs.
Last updated/reviewed: August 9, 2023
4 Reviews (31 ratings)


Anonymous Author
What I dislike about this course is that the first hour or so was concentrated on ERM and not the topic of the course which was Operations Risk Management-Understanding Key Risk Indicators. I think the discussion on ERM could have been covered in another course.

Anonymous Author
This was a well-organized, very informative introduction to KRIs and Operational Risk Management. There was a LOT of material, but it was broken into well-crafted modules and built the knowledge in a logical way.

Anonymous Author
This course provides an understanding of what Key Risk Indicators are and how to utilize Key Risk Indicators.

Anonymous Author
A lot of information but very important at the same time...

Course Complexity: Foundational

While no advanced preparation or prerequisites are required for this course, however a basic knowledge of principles of risk management will be useful.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Questions and Answers(2 Questions)
Member's Profile

This is just what the doctor ordered! Well organized information, presented in a format that was easily comprehensible.

Member's Profile

Thank you. Glad to hear that you enjoyed this course.

Instructor for this course
Course Syllabus
  Introduction to Operational Risk Management – Understanding, developing and using KRIs (Key Risk Indicators)5:35
  KRI's An Introduction4:45
KRI's and their relationship to risk
  Positioning KRI's in the Risk Universe14:25
  Positioning KRI's in the Risk Universe Cont'd14:04
  Understanding The Risk Universe9:46
  Managing Operational Risk8:06
KRI's (Key Risk Indicators)
  Key Risk Indicators (KRI's)7:20
  Developing Effective KRIs12:08
  Developing Effective KRIs Cont'd10:44
  KRI's and Proactive Strategic Risk Management3:10
  KRI Information Sources14:20
KRI's – Roles, communication & reporting
  KRI's Examples and Uses3:16
  KRI Communication and Reporting4:53
  KRI Communication and Reporting Role of the Board, Senior Management and Risk Owners8:03
What KRI's add to risk management
  KRI Value Proposition6:30
  A Warning7:23
  Practice Tips2:53
  Course Wrap Up3:58
  Operational Risk Management – Understanding, developing and using KRIs2:21:20
  Slides: Operational Risk Management - Understanding, developing and using Key Risk IndicatorsPDF
  Operational Risk Management - Understanding, developing and using Key Risk Indicators Glossary/ IndexPDF