With 3rdRisk, you can systematically evaluate and determine the risk exposure with your third parties and ecosystem. Create, schedule, perform and monitor generic or tailor-made, third-party risk assessments for all your third parties.
The assessment module contains 5 different steps:
Per step, there is a dedicated support page:
| Step | High-level activity | Responsible | Docs page |
| 1. Create/select an assessment template | - Select one more available questionnaire templates from the store. - or upload your questionnaire. | Risk officer / Risk manager / Procurement manager | Assessment template Store |
| 2. Create an assessment | - Select third-party, deadline and applicable requirements. - Select the questionnaire, specific domains and reviewer(s). | Risk officer / Risk manager / Procurement manager | Create assessment |
| 3. Fill in the assessment | - The third party will receive an email invitation for the 3rdRisk assessment portal to fill in the assessment. - The third party fills in the assessment and submits the response. - The third party will receive an email confirmation that the assessment has been completed. | Third-party | Fill in assessment |
| 4. Review assessment | - Reviewer(s) will receive an email that the assessment is ready for review. - Reviewer reviews all questionnaires and closes review when there are no more outstanding questions. - Risk manager/risk officer can register one or more incidents or risks based on assessment results. | Reviewer | Review an assessment |
| 5. Finish & close assessment | - Platform closes and archives assessment. - Third-party and his/her business-/contract owner and procurement manager will receive an email to confirm that the assessment is finished and closed. | Third-party / Reviewers / Business manager / Risk manager / Risk officer | Review an assessment |
In the assessment module, there are various automated e-mails sent by the platform:
| Process step | Message | When | To |
| 2. Create an assessment | Invite for a 3rdRisk assessment | Automatically generated and sent when you create an assessment. | External
|
| 3. Fill in the assessment | Not yet a response and almost overdue | 4 days before the due date | External
|
| Overdue / assessment is cancelled. | Past due date | External
Internal
| |
| Confirmation that assessment was successfully submitted | When assessment submitted | External
| |
| 4. Review assessment | Assessment ready for review | When assessment submitted | Internal
|
| 5. Finish & close assessment | Review successfully performed | When the review was successful | External
Internal
|
Known limitations of the assessment management module
Is it not yet possible to have nested / dependency between answers to questions
