Key Risk Indicator
Quantitative or qualitative measures used to identify the occurrence of risk events and assess the effectiveness of risk management.
Key Risk Indicators (KRIs) are critical tools in risk management. They provide early warning signs that a risk event may occur or that a risk is increasing.
KRIs are used to monitor the effectiveness of risk treatments and to prioritize actions based on the potential impact. They are integral to the continuous improvement of risk management processes.
Frameworks such as ISO 27001 and DORA emphasize the importance of KRIs in maintaining a robust risk management framework, enabling proactive risk identification and response.
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