The measurement of the overall process outcomes alone will not tell you anything about how your processes are actually doing. Yes, it sounds counter-intuitive. The fact is that although Key Performance Indicators (KPIs) are useful measurements for resulting business output, if you really want to know if a business process is running optimally, KPIs are simply not enough. Understanding exceptions to expectation and diagnosing their root causes is a critical piece of the continuous improvement puzzle. This White Paper addresses the good, the bad and the ugly of KPIs and why they should be accompanied by Key Exception Indicators (KEIs) to deliver true business insight. The definition of a KEY is further introduced and the best way to implement the concept in practice is introduced.