Templates
Vendor Management
Vendor Risk Assessment Template
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Vendor Risk Assessment Template

Streamline your vendor risk evaluation with our Vendor Risk Assessment Template, guiding you in due diligence, data protection checks, and risk mitigation.
1
Identify vendor and define the scope of assessment
2
Compile a list of information and documentation required from the vendor
3
Send the list to the vendor and request their cooperation
4
Collect the received data and documents from the vendor
5
Review the legal and compliance documentation
6
Approval: Legal and Compliance Documentation
7
Evaluate the financial stability of the vendor
8
Assess the vendor’s reputation and past performance
9
Inspect the vendor's business continuity and disaster recovery plans
10
Examine the vendor's cybersecurity protocols
11
Approval: Cybersecurity Protocols
12
Assess vendor’s data protection measures and privacy policies
13
Review and validate the service level agreements (SLAs) and contract terms
14
Perform a site visit, if necessary
15
Prepare risk assessment report
16
Review the findings and classify the risks
17
Approval: Risk Classification
18
Define mitigation strategies for identified risks
19
Communicate the findings, risks and mitigation strategies to stakeholders
20
Archive the completed vendor risk assessment