Metrics

Question 1

What are the 3 benefits of GRC: Metrics?

Answer 1

enables threshold based monitoring or key risks and controls and alerts respective owners on changes to risks and controls, automates mundane metric data collection tasks, and efficiently monitors and shares risk information across the organization

Question 2

Key Risk Indicators relate to ____ and indentify________

Answer 2

risk statements, the amount of exposure to a given risk or set of risks

Question 3

Key Control Indicators relate to _____ and identify ______

Answer 3

control objectives, the effectiveness of the controls that have been implemented to reduce or mitigate a given risk exposure

Question 4

Key Performance Indicators relate to _____ and show ______ by showing the achievement against _____

Answer 4

entities, how effectively the risk exposure is managed, objectives

Question 5

indicators can be used to monitor a ______ or _____ while metrics can be used to measure …

Answer 5

risk, control, any GRC object

Question 6

What are the three metric classes?

Answer 6

Key Risk indicator, key control indicator, key performance indicator

Question 7

results of ______ are pass/fail whereas result data types of ____ can vary

Answer 7

indicators, metrics

Question 8

What property can be enabled to show data from metrics app on the risk workspace and cannot be reverted back?

Answer 8

Migrate to Metrics from Indicators

Question 8

True or false: Metrics are replacing Indicators because they allow for aggregation and confidential metrics

Answer 8

False, they are not replacing indicators