Overview

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.

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Reporting Requirements

Throughout the entire NIST Risk Management Framework (RMF) - the concept of Third-Party Risk Management (TPRM) is thoroughly addressed. This in turn requires organizations to get serious about managing their external supplier base, or face significant regulatory challenges and cybersecurity and data privacy risks.

Key Elements of a Successful Third-Party Risk Management (TPRM) Program

Assessing third parties for initial due-diligence measures and subsequent continuous monitoring activities requires the implementation of a risk based approach. After all, not all providers are offering the same products and services, and should therefore be evaluated on an individual basis, rather than that of a broad-based, one size fits all approach.

How to Get Started

Start by downloading our world-class NIST RMF Security and Privacy Policies and Procedures templates at the Arlington Security Portal (ASP).

How Arlington Can Help

We have years of experience working within the broader federal agency apparatus in helping federal contractors develop high-quality, well-written, policies and procedures and additional NIST RMF information security and privacy materials. Our NIST RMF information security and privacy policies, procedures, programs, and plans have been used by thousands of federal contractors in helping organizations develop customized documentation for their growing security and compliance needs.