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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: June 7, 2021

1 Review (3 ratings)Reviews

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

Prerequisites

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 .

2 QuestionsCourse Questions and Answers

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.

Course Syllabus
INTRODUCTION AND OVERVIEW
  5:35Introduction to Operational Risk Management – Understanding, developing and using KRIs (Key Risk Indicators)
  4:45KRI's An Introduction
KRI's and their relationship to risk
  14:25Positioning KRI's in the Risk Universe
  14:04Positioning KRI's in the Risk Universe Cont'd
  9:46Understanding The Risk Universe
  8:06Managing Operational Risk
KRI's (Key Risk Indicators)
  7:20Key Risk Indicators (KRI's)
  12:08Developing Effective KRIs
  10:44Developing Effective KRIs Cont'd
  3:10KRI's and Proactive Strategic Risk Management
  14:20KRI Information Sources
KRI's – Roles, communication & reporting
  3:16KRI's Examples and Uses
  4:53KRI Communication and Reporting
  8:03KRI Communication and Reporting Role of the Board, Senior Management and Risk Owners
What KRI's add to risk management
  6:30KRI Value Proposition
  7:23A Warning
  2:53Practice Tips
CONCLUSION
  3:58Course Wrap Up
CONTINUOUS PLAY
  2:21:20Operational Risk Management – Understanding, developing and using KRIs
SUPPORTING MATERIAL
  PDFSlides: Operational Risk Management - Understanding, developing and using Key Risk Indicators
  PDFOperational Risk Management - Understanding, developing and using Key Risk Indicators Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM