TPRM Lifecycle Explained in Simple Language (6 Stages)

TPRM Lifecycle Explained in Simple Language | 6 Stages of Third Party Risk Management Ever wondered how companies decide which vendors to trust, and how they manage that risk from day one to the day the relationship ends? In this video, I break down the entire Third Party Risk Management (TPRM) lifecycle into 6 simple, easy-to-understand stages, with real-world analogies so anyone, technical or not, can follow along. Whether you're studying risk management, working in compliance, security, or procurement, or just curious how big companies manage vendor risk, this video is for you. What you'll learn: ✅ Planning – Defining the need, classifying vendors, rating risk ✅ Due Diligence – Assessing security, privacy, financial, compliance and AI controls ✅ Contracting – SLAs, audit rights, data, breach and AI clauses ✅ Onboarding – Access provisioning, controls, go-live readiness ✅ Monitoring – Performance tracking, risk reassessment, incident review ✅ Offboarding – Termination, access revocation, data return, lessons learned ✅ Plus: how governance, policy, risk registers, and reporting hold it all together, and what changes when vendors use AI If this video helped you understand TPRM better, drop a like, subscribe for more risk management and governance content, and let me know in the comments which stage you'd like explained in more depth. #TPRM #ThirdPartyRiskManagement #VendorRiskManagement #RiskManagement #Compliance #Cybersecurity #GRC #AIGovernance #RiskAssessment #VendorManagementTPRM Lifecycle Explained in Simple Language | 6 Stages of Third Party Risk Management