What are Risk Management Team metrics? Finding the right Risk Management Team metrics can seem daunting, particularly when you're focused on your daily workload. For this reason, we've compiled a selection of examples to fuel your inspiration.
Copy these examples into your preferred app, or you can also use Tability to keep yourself accountable.
Find Risk Management Team metrics with AI While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI metrics generator below to generate your own strategies.
Examples of Risk Management Team metrics and KPIs 1. Implementation Rate The percentage of planned risk mitigations that have been successfully put into action within a given time frame
What good looks like for this metric: 80-90%
Ideas to improve this metric Ensure clear communication on mitigation strategies Prioritise high-impact risk mitigations Allocate dedicated resources for implementation Regularly review and update risk mitigation plans Conduct training sessions to increase staff engagement 2. Compliance Rate The percentage of risk mitigations that meet compliance requirements
What good looks like for this metric: 90-95%
Ideas to improve this metric Conduct regular compliance audits Update compliance guidelines as needed Train staff on compliance requirements Use automated tools to ensure compliance Set up a compliance check schedule 3. Mitigation Completion Time The average time taken to complete risk mitigation strategies from planning to execution
What good looks like for this metric: 30-60 days
Ideas to improve this metric Streamline approval processes Break down strategies into smaller tasks Set realistic timelines with buffer periods Closely monitor project milestones Use project management software 4. Cost Efficiency of Mitigations The ratio of the cost to implement risk mitigations versus the estimated costs without mitigation
What good looks like for this metric: $1:$5 savings
Ideas to improve this metric Negotiate better contracts with vendors Utilise cost-effective tools and technologies Optimise resource allocation Reduce unnecessary steps in the process Regularly evaluate cost-benefit ratios 5. Stakeholder Satisfaction The level of contentment among stakeholders regarding the effectiveness of risk mitigation efforts
What good looks like for this metric: 75-85% satisfaction rate
Ideas to improve this metric Gather regular stakeholder feedback Address complaints and concerns promptly Hold stakeholder engagement sessions Provide transparent reports on progress Continuously adapt strategies based on feedback
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1. Case Resolution Time The average time taken to resolve individual cases from initiation to closure
What good looks like for this metric: 3-6 months
Ideas to improve this metric Establish clear procedures for case handling Use automated systems for case tracking Enhance communication between involved parties Provide regular training for case managers Regularly review unresolved cases to identify bottlenecks 2. Success Rate of Resolutions The percentage of cases resolved without escalation or legal proceedings
What good looks like for this metric: 70-85%
Ideas to improve this metric Invest in training for negotiation skills Implement mediation before litigation Track and analyse unsuccessful cases for improvements Establish a collaborative problem-solving approach Regularly update dispute resolution policies 3. Number of Cases Per Employee The average number of IR & CCMA cases managed per employee
What good looks like for this metric: 1-3 cases per year
Ideas to improve this metric Allocate dedicated case managers Ensure balanced distribution of cases Monitor individual case manager workloads Implement preventative measures to reduce cases Offer support services to employees to prevent issues 4. Employee Satisfaction with Resolution Process A measure of how satisfied employees are with the case resolution process
What good looks like for this metric: 80% satisfaction
Ideas to improve this metric Conduct regular surveys post-resolution Incorporate feedback into process improvement Enhance transparency of the process Provide clear communication throughout the process Offer employee support services during the process 5. Cost of Resolution Per Case The average cost incurred by the company per resolved case
What good looks like for this metric: $500-$2,000
Ideas to improve this metric Reduce legal costs through internal mediation Implement cost-effective dispute resolution methods Analyse high-cost cases for learning Use technology to streamline processes Negotiate vendor contracts for better rates
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1. Compliance Rate Measures the percentage of compliance with legal and regulatory requirements
What good looks like for this metric: 95% compliance
Ideas to improve this metric Conduct regular compliance audits Implement automated compliance software Provide staff with compliance training Ensure clear documentation of policies Stay updated with regulatory changes 2. Risk Assessment Frequency Tracks how often risk assessments are performed to identify and address potential issues
What good looks like for this metric: Quarterly assessments
Ideas to improve this metric Schedule regular risk assessment reviews Involve cross-functional teams in assessments Adopt a risk management framework Use risk assessment software tools Prioritise risks based on impact and likelihood 3. Internal Audit Findings Evaluates the number of issues found during internal audits
What good looks like for this metric: Less than 5 per audit
Ideas to improve this metric Conduct thorough training for audit staff Use technology to streamline audits Regularly review and update audit criteria Encourage open communication around audit results Implement corrective actions promptly 4. Policy Violation Incidents Counts the number of times company policies are violated
What good looks like for this metric: Fewer than 10 incidents annually
Ideas to improve this metric Increase awareness of company policies Introduce stricter enforcement measures Provide regular training on company policies Encourage reporting of violations anonymously Review and update policies regularly 5. Third-Party Compliance Rate Measures the extent to which third-party partners comply with company standards
What good looks like for this metric: 90% compliance
Ideas to improve this metric Regularly audit third-party vendors Include compliance requirements in contracts Develop a trusted vendor program Provide training for third-party partners Monitor third-party compliance continuously
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Tracking your Risk Management Team metrics Having a plan is one thing, sticking to it is another.
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.
A tool like Tability can also help you by combining AI and goal-setting to keep you on track.
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Planning resources OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:
Tability's check-ins will save you hours and increase transparency
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