Indicators and Checklist Scoring enable you to manage quantifiable metrics such as Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs). These features are built into the checklist functionality in Folio and provide users with rich quantifiable data that supports both Risk Management and Contract Management.
Indicators currently can either be numeric, or based on answers in a single or multi select field and can have 3 traffic light based thresholds set on them. The Red, Amber & Green thresholds are designed to provide a visual indicator of how the Organisation is travelling with that particular indicator.
Checklist Scoring gives an overall score for a Checklist based on the responses given to Single and Multi Select questions.
Indicators can be linked to a risk or a contract in Folio, giving the user a rich dashboard of how that KRI or KPI is travelling.
Examples of Indicators
| Risk Area | Indicator | Red | Amber | Green |
|---|---|---|---|---|
| Commercial | # of Incidents | Greater than 5 | 3 to 5 | less than 3 |
| # of Complaints | Greater than 10 | 3 to 10 | less than 3 | |
| Human Resources | # of Employee misconduct issues | Greater than 2 | 1 to 2 | less than 1 |