Citation:

Bramantyo Djohanputro. "Developing KPIs and KRMIs for the Study Program in Higher Education" International Research Journal of Economics and Management Studies, Vol. 4, No. 8, pp. 81-88, 2025. Crossref. http://doi.org/10.56472/25835238/IRJEMS-V4I8P110

Abstract:

In an increasingly competitive higher education environment, postgraduate study programmes must not only deliver academic excellence but also demonstrate resilience, adaptability, and measurable performance. This paper presents the design, implementation, and monitoring of a risk-based performance management framework for the Magister Management (MM) programme at a university that was granted the highest level of accreditation by the National Accreditation Board for Higher Education. The framework integrates Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) within a Balanced Scorecard (BSC) structure to align strategic objectives with proactive risk management. Using a qualitative descriptive approach, the study began with a literature review to identify best practices in KPIs–KRIs integration and develop a checklist tailored for higher education. This was validated through consultations with key programme stakeholders, mainly the head of the study programme. The results demonstrate that aligning strategic targets, risk assessments, KRIs, and risk treatment plans creates a clear monitoring and feedback loop that supports timely corrective actions. The case of this study shows that risk-based performance management not only enhances goal attainment but also strengthens institutional resilience, offering a replicable model for other higher education institutions.

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Keywords:

Risk-Based Performance Management; Key Performance Indicators; Key Risk Indicators; Balanced Scorecard; Higher Education Management; Strategic Risk Management.