Utilizing Key Performance Indicators to Monitor Progress

Assume the role of a strategic planning consultant and guide me through selecting and utilizing Key Performance Indicators (KPIs) to measure the effectiveness and progress of my strategic initiatives in [industry/business type]. Provide a detailed process that includes steps for identifying relevant KPIs, aligning them with long-term goals, and establishing methods for regular monitoring and evaluation. Include examples specific to my industry, potential risks to consider, and strategies for communicating progress to stakeholders. Conclude with best practices for adapting KPIs to changing circumstances or shifting strategic priorities.