Bonnie V. Hancock, Executive Director of the ERM Initiative at NC State University, interviews Richard (“Rich”) G. Muzikar, Director, Enterprise Risk Management at ConEdison, Inc. based in New York, about Key Risk Indicators(KRIs). Rich describes KRIs and how they can be used to give management an early warning that there is a developing risk issue that needs to be addressed. He illustrates how his organization used a “Bowtie Analysis” to identify root causes and then the metrics that would track those root causes.