Third-Party Risk Management Return on Investment (ROI)

Third-Party Risk Management Return on Investment (ROI)

Nov 8, 2018

A measure of benefit relative to risk management program related investments. An organization can measure the benefit relative to its TPRM program investments by considering: the cost related to the number and depth of assessments required to select, onboard and monitor ongoing relationships with its third parties; the potential costs and revenue shortfalls related to risk exposure (e.g., a breach, loss of data, loss of continuity, regulatory fines, legal fees, reputational risks and the related income or market share losses); the operational savings that can be achieved through the efficiencies inherent in investments in best practice based third/fourth party risk management programs.

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