7-Step Third-Party Risk Assessment Process | UpGuard

This article presents a seven-step third-party risk assessment framework to help organizations identify, evaluate, and mitigate vendor-related cyber, compliance, and operational risks. It covers pre-assessment planning, risk identification criteria, tailored assessment templates, evaluation and scoring methodologies, control design and implementation, continuous monitoring and incident response planning, and stakeholder reporting, and emphasizes industry benchmarks, automation, and UpGuard’s tools and managed services to scale TPRM.