Assessment Life Cycle Stages

An assessment in the Vendor Risk Management application can have the following stages and statuses:

Stage

(Examples, configurable in Assessment Setup: Life Cycle)

• Onboarding (Pending)

• Reviewing (Pending)

• Approved (Completed)

• Rejected (Completed)

• Re-Assessment (Pending)

• Offboarding (Completed)

Status

• Pending: You are actively working with the vendor or performing the assessment. The vendor will receive notifications to encourage their participation.

• Completed: You finished the vendor assessment either with a positive or negative result. The vendor won't receive any further notifications.

Changing Stage and Audit Trail

• From the Vendor Profile>Overview page, quickly change current life cycle stage with a drop down, and see audit information for the existing stage.

• From the Vendor Profile>Tiering page, refreshed UI for changing life cycle stage via drop down, and full historical life cycle audit information (prior changes over time).