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.
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Prerequisites
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
Course Questions and Answers(2 Questions)
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This is just what the doctor ordered! Well organized information, presented in a format that was easily comprehensible.
Thank you. Glad to hear that you enjoyed this course.