noun
- A metric that can be used to judge underlying activity.
Usage Notes
- There are three types of indicators: leading indicator, lagging indicator and coincident indicator
- Indicators are metrics that can be used to judge the “goodness” or “badness” of underlying activity.
- Some examples:
- Performance Indicator provides information about whether or not performance targets have been/will be met.
- Risk Indicator provides information about whether or not risk appetite, risk tolerance or risk capacity have been/will be exceeded.
- Conformance Indicator provides information about whether or not conformance targets have been/will be met.
- Quality Indicator provides information about whether or not quality targets have been/will be met.
