How to Assess Cyber Risk for Potential Vendors (Complete Guide) | UpGuard

## Executive Summary This guide presents a seven-step vendor cyber risk assessment framework for organizations to identify and categorize risks, determine impact and likelihood, set risk tolerance, review vendor security controls and compliance, calculate risk, and establish contractual SLAs; it also recommends tooling (e.g., UpGuard Vendor Risk) and monitoring approaches to automate assessments and manage third- and fourth-party risk across the vendor lifecycle.