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Is setting up a new semiconductor factory in the developed world a risky proposition? When you and I answer  this question, it is a different perspective than when a risk professional, whose duty it is to study the risk and take a call, presents their report. In the global business environment today, where wars appear to happen all too frequently, risk professionals  face an unprecedented level of scrutiny. Risk managers are not only responsible for protecting and securing their organizations, they also have to provide evidence that their risk management programs are actually effective at managing risk. At the very minimum, risk managers must prove they are meeting the expectations of not only regulators, examiners, and their board of directors, but also  customers, investors, fellow employees, and communities.

In the era of the see-through economy, the rapid advancement and proliferation of technologies like social media have left companies with nowhere to hide. We’re living in an age of transparency where the public is empowered to impact a company’s reputation.

Without meaningful metrics, the value of the company’s Enterprise Risk Management program, or the degree to which previously unidentified risks have been mitigated, is unlikely to be demonstrated. Often, risk managers don’t collect the metrics they need and don’t allocate responsibility for information collection and reporting. As a result, risk management teams find themselves drowning in a sea of data they are unable to analyze and glean out meaning. Don’t make that mistake!

How To Measure Risk With KPIs

Most often, the metrics used to evaluate business performance are identified Key Performance Indicators (KPIs).  For the top brass, KPIs are quantifiable ways to measure the downsides and upsides of risk for an organization.

KPIs are metrics that evaluate the components of a business deemed crucial for its success, revealing how consistently the company achieves key business objectives. Click here to check out our Project management KPI Templates. 

By analyzing KPIs in concert, and over an extended period of time, you will be able to show actual or probable deviations from a given standard or goal. With these risk metrics, you can improve your company’s understanding of just how likely achieving its strategic objectives is going to be.

Manage risks with our content-ready KPI Dashboards. The 100% customizable nature of the template provides you with the desired flexibility to edit your presentations and mitigate risks. The content-ready slide will give you a structure to get started. 

Template 1: Risk Management KPI Dashboard Showing Open Issues and Control Performance

KPIs bring to light  critical parts of  businesses that need to function at their full potential  for  the company to meet its objectives. Incorporate this pre-designed PPT Template to monitor  business strategies and operations and  understand how effective these  are in terms of reducing risk. You can add legal, code of conduct, people, supply chain, inappropriate systems, emerging technologies, and other risks in this dashboard and compare them with one another to see which one has more impact on your business, and needs to be addressed  first. There are charts  in this dashboard that can be used to showcase your data. Besides this, you will also get a risk map that shows the impact of the risk in comparison to its likelihood. Download this dashboard from the link given below. 

Keep track, stay risk-free!

By tracking these metrics, organizations are able to  mitigate existing risks and detect emerging risks long before they are able to have a detrimental impact on the organization.

You can assess the strength of your own ERM program and create a roadmap for improving performance today with our Risk Maturity Model.