GRC KRIs

GRC KRIs

From this article, you will learn about:

  • What a Key Risks Indicator (KRI) is

  • What the KRIs feature is used for

  • Examples of KRIs

  • KRI links to other modules

Key Risk Indicators (KRIs) are metrics used to measure Risk. Any piece of data that can perform this function may be considered a KRI.

KRIs are defined occurrences or trends that show whether a risk is more or less likely to occur over time.

Use the KRIs feature in Drova GRC to periodically schedule and record measurements to monitor Key Risk Indicators. Action can then be taken if the indicator shows a deterioration in the trend or rating of a particular risk.

Examples of KRIs

The following table shows some examples of KRIs.

KRI

KRI Measurement

Senior Management Turnover

The number of Senior Managers that have left the organisation in the last quarter.

OH&S Claims

The number of Occupational Health and Safety claims submitted in the last month.

System Downtime

The number of hours that the computer system has been offline in the last month.

KRI Links

KRIs can be linked to Risks:

KRI

Risk

Senior Management Turnover

Inability to attract and retain key personnel.

OH&S Claims

Injuries to employees suffered at work.

System Downtime

Core banking system unavailable to clients.

KRIs can also be linked to Events:

KRI

Event

Senior Management Turnover

Resignation of Chief Financial Officer.

OH&S Claims

Employee has suffered a broken ankle by slipping over in the toilets.

System Downtime

Core sever failure.

    • Related Articles

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      From this article, you will learn about: 4 different KRI Indicator types: upper limit, lower limit, range and manual KRI limit types Periodic scheduling of KRIs Different KRI Indicator types You can select from 4 different KRI Indicators, depending ...

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      From this article, you will find out more about: Calculating a KRI trend Calculating a KRI rating Calculating KRI Trend In principle, the calculation of the Trend is a comparison between: The difference between the current value and the Target value, ...

    • Update KRI History

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