Customized Third-Party Risk Management Programs for Department of Defense (DoD) Contractors
Arlington is an industry leader in helping Department of Defense (DoD) contractors develop and implement comprehensive Third-Party Risk Management (TPRM) Programs. Third-party due diligence initiatives, along with consistent measures for assessing and monitoring vendors, is an absolute necessity in today’s highly regulated federal compliance arena.
From sourcing products for purchase to outsourcing critical operational and security functions – and more – it is imperative that organizations develop a formalized approach for choosing suppliers, vendors, and other third-parties which they outsource to, and then monitoring such organizations. TPRM is also essential for many of today’s growing compliance measures, such as FedRAMP, FISMA, CMMC, NIST 800-171, NISP eMASS DCSA, and more.
Monitoring Third-Parties is Critical for DoD Contractors
Proper oversight of selecting and monitoring organizations for whom your organization has entered into a business relationship offers many advantages, ranging from securing the best products/services at the best prices to ensuring operational and security controls are in place that protect organizational assets. The Defense Industrial Base (DIB) is complex, burdensome, and often costly, thus it’s vitally important to pick, choose, and monitor your vendors wisely.
Organizations in the broader DIB sector come in all shapes and sizes in terms of products and services offered, and the key for a healthy relationship amongst two parties begins with an open dialogue, effective communication throughout all phases of the relationship, along with essential due-diligence and ongoing control assessments. Knowing your suppliers is without question a key element of your organization’s overall success, thus the adoption and implementation of a TPRM program is a must.
