Category: Key Risk Indicators Examples

Every industry relies on technology. But when the technology doesn’t cooperate—either due to hardware or software failure, human error, or nefarious acts by hackers and criminals—businesses face a variety of risks such as lawsuits, compliance fines, and lost sales. The price of technology failure is high: 86% of businesses say that the cost for one hour of downtime is $300,000 or higher. One in three businesses report that the cost of a single hour of downtime can reach $1 million to $5 million. How Benchmarking and Key Risk Indicators Help…

Banks today face an ever-changing landscape, challenges arise in multiple areas and a risk in one area can easily impact another. According to ABA Banking Journal the security and cyber risks remain at the top of the risk lists in most banks. No matter the size of the a financial institution there is always a cybersecurity risk to consider, banks must monitor technology upgrades to ensure that criminals can’t target vulnerabilities in the system. There are other risks to consider aside from the threat of ransomware and other cyber criminals.…

The IT project management team’s job is to ensure that all technology-related projects run according to plan, align with the company’s overall business strategy, reduce risk of failure, and finish on time. It should go without saying then, that measuring IT project management effectiveness through Key Performance Indicators (KPIs) is an important part of keeping your technology project management operations running smoothly. What are IT Project Management KPIs? IT Key Performance Indicators relating to project management can be defined as quantitative measurements, or metrics, used to determine how specific IT…

A Comprehensive List and Library of Key Risk Indicators with Definitions for Information Technology and Information Security Technology risk in modern day business can be seen in news headlines on a daily basis. Data breaches from large corporations can drive stock prices down by 30-50% in one trading day. Recent big headline data breaches of customer data include; Target in 2013, Experian in 2017, and now Facebook in 2018. Implementing and closely tracking the right IT and IS key risk indicators can help reduce the risk for your company. (Be…