When creating a Risk Register, it is important to include Key Risk Indicators (KRIs) as they help in monitoring and measuring the severity of identified risks.
The statement is true. Key Risk Indicators (KRIs) are critical metrics used to provide an early signal of increasing risk exposure in various areas of an organization. Including KRIs in a Risk Register is vital as they help in monitoring risk trends, detecting potential problems, and measuring the severity of identified risks over time. This allows for proactive management and mitigation of risks before they potentially become more significant issues.
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What are Key Risk Indicators (KRIs)?
How do KRIs differ from Key Performance Indicators (KPIs)?
What is the significance of including KRIs in a Risk Register?