In an organizational perspective, key risk indicators are metrics capable of showing that it is subject to risk/s that may or may not exceeds the defined risk appetite (Wikipedia, 2013).
In an individual perspective, key risk indicators are metrics capable of showing that his/her interest is subject to risk/s that may or may not exceeds the defined risk appetite (Frago, R. 2014).
Standards and/or benchmarks are yardsticks that came to be because a group of people, an associations, a law making body, a community, and/or culture agreed to have one and use it as such. I always see standards as a box, representing all the traditional or accepted boundaries of doing things.
This presentation is just the start of our conversation in bringing to fore KRI and making them clear to all. If you believe as I do that risk-based management is part of our daily life, you will be in terested in KRIs.
Rufran is the author of the book Risk-based Management in the World of Threats and Opportunities: A Project Controls Perspective.
For those who are interested, please join Rufran at (click hyperlink) the following sites.
1) LinkedIn Risk-based Management (RBM) Group
2) My Oil Pro
3) Risk-based Management and Services Inc. Facebook
4) Your World, Our Risk Universe: WordPress
5) E-Touch Up: A Brand of RBM&S Inc.
6) Author Page: Amazon.com
7) LinkedIn Professional Website
Other articles authored by Rufran Frago.
1) Schedule Critical path
2) Primer to Good Schedule Integration
3) Project Schedule: P50, Anyone?
4) Schedule Baseline Dilemma Part 1
5) Schedule Baseline Dilemma Part 2
6) 4D Scheduling Part 1: What is it about?
7) Risks as a Function of Time
8) Oil Price, Recession: Causes, Issues and Risks