TPRM 101: What Is Third Party Risk Management (TPRM)?

Welcome to the Third Party Risk Association’s signature video series, "Third Party Risk Management (TPRM) 101." This series is informed by our Third Party Risk Management (TPRM) 101 Guidebook, a comprehensive guide for establishing a TPRM program, which is available for free download to all TPRM professionals.

This series is meant to be used as a starting point for those that wish to establish, validate, and/or enhance their Third Party Risk Management Program. Each video will walk through one of the six phases of the TPRM Program Lifecycle, which together create a strong TPRM program. But before jumping right into the Lifecycle, it is important we first understand the foundations of third party risk management, including basic definitions, risk types, calculating and evaluating risk, and finally, the basics of addressing risk exposure created by your third parties.

"TPRM 101: What is Third Party Risk Management" is Part 1 of this series.