Answer: The key performance indicators (KPI’s) are the matrices which indicate that how well a business is performing. KPI measures the performance of the business on various parameters and goals which are set by the company in its strategy. They indicate that how the business has performed in terms of various goals they have set.
The key risk indicators (KRI’s) on the other hand predict the risks which a business may face. Unlike KPI’s they measure the level of risk which is presented to the firm. They measure the changes in the risk exposure and provide information about the imminent risks so that timely actions are taken to mitigate the risk.
The early warnings can be designed through developing the proper KRI’s through understanding the objectives of the organizations and the risks which can mitigate the achievement of the golas and objectives set by the organizations.
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