KPIs and KRIs for Project Success in Global Investment Banking Environments

Pratik Chawande

doi:10.36948/ijfmr.2023.v05i06.58000

KPIs and KRIs for Project Success in Global Investment Banking Environments

Author(s)	Pratik Chawande
Country	United States
Abstract	This paper examines the design and application of key performance indicators (KPIs) and key risk indicators (KRIs) for project success in global investment banking environments. The objective is to explore how performance and risk oversight mechanisms can be aligned with regulatory mandates and operational risk requirements, ensuring that transformation programs achieve both business objectives and compliance outcomes. The paper uses a literature synthesis methodology, incorporating the information on scholarly literature and regulatory frameworks, while supplemented by the examples of the industry in regards to large-scale banking projects. The results indicate that KPIs, which are usually outcome-based and lagging, are critical in measuring the project delivery in terms of cost, time, and quality. Nevertheless, being predictive and leading measures, KRIs are essential in the identification of vulnerabilities in the operational control weakness, reporting errors, or system downtime. The review indicates that the successful indicator frameworks should incorporate the risk limits and escalation steps that should be in accordance to the demands of the supervisory requirements under Basel operational risk standards, as well as general regulatory requirements. Practical implications underline the fact that global investment banks should structure KPIs and KRIs, not only to ensure internal governance, but also to offer to the auditing and transparency to the regulatory reporting. Institutions can enhance the control and robustness by mapping risk appetite statements to quantifiable levels and relations of the indicators to escalation processes and comply with requirements. By deciding the differences and complementaries between KPIs and KRIs, the paper adds to the theory and practice by confirming the two in conjunction in determining project success, both organizationally and through regulation.
Keywords	KRI, KPI, project success, operational risk, investment banking, regulation, Basel, performance.
Field	Engineering
Published In	Volume 5, Issue 6, November-December 2023
Published On	2023-12-12
DOI	https://doi.org/10.36948/ijfmr.2023.v05i06.58000

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KPIs and KRIs for Project Success in Global Investment Banking Environments

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