Key Performance Indicators Certificate Course
Metrics, Key Risk Indicators,KPI,KRI
What you will learn
To be able to understand the difference between KPIs and KRIs, and how they can be used to measure and manage performance and risk in an organization.
To be able to select, develop, and implement relevant and meaningful KPIs and KRIs that align with your organization’s strategic objectives and risk appetite.
To be able to collect, analyze, and report KPIs and KRIs data using various tools and techniques, such as logic models,cause-effect analysis, process flow etc.
To be able to communicate and present the results of your KPIs and KRIs to various stakeholders, such as management, board, regulators, and customers
To be able to evaluate the effectiveness and efficiency of your KPIs and KRIs program, and identify areas for improvement and optimization.
Why take this course?
KPI, KRI and Metrics are terms explained in this course, related to measurement and evaluation of performance and risk. Details
Metric: A metric is a value or a quantity that can be measured, such as temperature, height, weight, or number of employees. Metrics are used to calculate or compare other values.
KPI: A KPI (Key Performance Indicator) is a metric that reflects the achievement of a desired level of results in an area relevant to the evaluated entity’s activity. KPIs make objectives quantifiable and enable decision makers to monitor and improve performance. Examples of KPIs are average handle time, first contact resolution, service level, or conversion rate.
KRI: A KRI (Key Risk Indicator) is a metric that provides an early warning regarding an increased risk exposure in a certain area of operations. KRIs help managers to take a proactive approach in risk management by preventing incidents or diminishing their impact. Examples of KRIs are a number of customer complaints, percentage of clients experiencing financial difficulties, or write-off accounts.
The difference between KPIs and KRIs is that KPIs are leading or forward-looking indicators that measure the direct results of strategic decisions, while KRIs are trailing indicators that measure the outcomes that have already happened and may affect the performance. Both KPIs and KRIs are important for effective management and governance, the course provide a brief and concise Details of the above.
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