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Using an ERM Assessment Process to understand vendor risks
Read this article to learn how to identify and asses vendor risks from an ERM perspective, avoiding surprises and helping the organization to achieve its goals.
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Vendor disruptions can present a wide array of risks to the enterprise beyond the product or service in question, causing organizations to experience issues on an enterprise-wide scale. Examples include financial, reputational, compliance and technological issues, among others.
To enable companies to achieve their goals, it is crucial to understand all the factors or dimensions that influence the risk a vendor poses.
In this article, Carol Williams shows how to gather vendor information, analyze it, and categorize this information, ensuring that your organization works with vendors that align with your risk profile and can implement action plans if adverse events occur.
Über den Autor
Carol Williams
Carol Williams, CRM has over 10 years of experience helping organizations develop customized enterprise risk management tools to support decision-making and strategic planning. She is the founder, CEO and principal consultant of Strategic Decision Solutions and publishes weekly how-to and other articles for fellow risk professionals at her blog, ERM Insights by Carol.
