From the course: CRISC Cert Prep: 3 Risk Response and Reporting

Unlock this course with a free trial

Join today to access over 25,300 courses taught by industry experts.

Key performance indicators

Key performance indicators

From the course: CRISC Cert Prep: 3 Risk Response and Reporting

Start my 1-month free trial Buy for my team

Key performance indicators

“

- [Jared] In addition to monitoring key risk indicators, organizations also need to align their risk management activities with business objectives. In practice, you'll define key performance indicators to support that alignment. Just as key risk indicators help you predict an important risk with a high degree of accuracy, key performance indicators help you measure whether the processes you put in place are delivering the intended results. And just as KRIs have lead and lag indicators so do KPIs. In this case though, lead indicators help you determine whether it's likely or not that you'll hit your targets, and lag indicators help you determine whether or not you accomplish the goals you set out to accomplish. And this next piece of information I'm about to share is one of the most important lessons you can take away from this course. Every conversation you have about risks, controls, and key performance indicators should…

Contents