This white paper covers the key TPRM metric your team needs to track its effectiveness over time, the processes for gathering these metrics and tips for building a business case for your program.
Third-party risk management (TPRM) teams often have to justify the cost of their programs to executive leadership, especially if they want to advocate for new investments or adjust to evolving economic conditions. This means that TPRM leaders should be ready to speak the language of business—and that means having numbers ready that prove value. By gathering risk management metrics for risk governance, reduction, compliance, program performance and incident response, you can develop a case that quantifies the risks that your company faces and the value of the work you do to mitigate it.
This white paper will cover:
- Metrics for measuring risk and the impact of mitigation efforts
- Tools for quantifying the cost of risk
- Steps to building a business case for your TPRM program
- How to identify gaps in your program and plan improvements