Integrating KRIs and KPIs for effective technology risk management

Here’s a summary of the key points from the article on integrating KRIs and KPIs for effective technology risk management:

Performance Evaluation: It’s crucial for good governance and involves activities like monitoring, measurement, analysis, evaluation, internal audit, and management review.

KRIs and KPIs: These are metrics used to measure risk and performance. KRIs show potential risks exceeding risk appetite, while KPIs focus on business performance.

Risk Metrics Program: Integrates KRIs and KPIs to manage technology risks effectively, ensuring risk management aligns with business strategies.

Three-Lines-of-Defense Model: Structures roles and responsibilities for risk-related decision-making and control, promoting effective risk governance and management.

The article emphasizes the importance of a metrics program in evaluating performance and the benefits of linking KRIs to KPIs for informed risk management decisions. It also discusses the role of GRC tools in automating the metrics collection and analysis process.

Source & Reference: Integrating KRIs and KPIs for Effective Technology Risk Management (