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.