ITPRM Institute for Third Party Risk Management
Toolkit 02 · Version 1.0

Third party risk assessment

Score one relationship in a few minutes. Criticality sets the weight, eight domains set the inherent exposure, and control evidence reduces it to a residual rating that decides how deep the due diligence goes.

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1 · Relationship

Criticality is about the service, not the supplier's size.

Criticality of the service

3 · Control evidence

What the third party can actually show you, not what the contract promises.

2 · Inherent exposure by domain

Rate the exposure before any controls are considered. 1 is negligible, 4 is severe.

Result

Inherent score
—
of 4.0, weighted by criticality
Residual score
—
after control evidence
Rating
—
Required due diligence

Highest exposures

Get the spreadsheet edition

The scoring model is published so it can be challenged. Members receive the same model as a spreadsheet with portfolio roll-up, an evidence register and the mapping from residual rating to the KPI library.