Third Party Risk Institute: Strategic Plan, Implementation Recommendations and 3-year Roadmap
Preferred learners
- Anywhere
- Academic experience
Categories
Skills
Project scope
- What is the main goal for this project?
-
Project Description:
Develop a 3 year Strategic Plan; Year-1 Implementation Recommendations; and 3 year high-level Roadmap for Third Party Risk Institute.
Corporate Objective:
To establish the Third Party Risk Institute (the Institute), a global virtual organization, as the “go to” resource for professional networking, training and education, adaptable frameworks, standards, and tools for third party risk management and third party risk management professionals.
Third party risk management is a “programmatic” way for a company to identify, assess, manage and control operational risk resulting from its relationship with entities, excluding relationships as their customer. Third parties are not just vendors, they are all relationships including agents, resellers, channel partners, joint ventures, and the list goes on and on. Depending on the size of the company, the business they’re in, and the markets where they operate, they will have hundreds, thousands, or tens of thousands of third party relationships.
There is no global network, single source or organization for professional networking, access to non-commercial information, tools, and resources for third party risk management practitioners to engage, learn and collaborate to advance the discipline and their career.
Please see Resources for a more detailed Corporate Objective.
Vision:
A network of third party risk management professionals from “buy” and “sell” side organizations, government and extended public sector organizations that have a personal and professional desire to grow their expertise and capabilities, strengthen and evolve third party risk management frameworks, standards, tool, practices and effectiveness.
Mission:
1. Deliver third party risk insight
2. Enable risk-informed decision making
3. Mitigate risk; comply with regulations and laws; improve performance; drive best value for money
4. Detect exposure to risks; respond effectively to risk events
5. Protect your reputation, stakeholders, and bottom line from preventable harm
Please see Resources for High Level Goals of the Institute.
Project Deliverables:
1. Validate the “value proposition” for membership
2. Define the motivation for becoming a member
3. Identify and evaluate competition (SWOT)
4. Assess market potential
5. Identify top 3 markets, industries and member profiles
6. Evaluate revenue potential for Fees and Revenues (see Ideas, #4)
7. Prioritize services and services that drive highest ROI in years 1 to 3
8. Estimated start up costs and work effort
9. Define critical success metrics
10. Create a high level Implementation Plan (e.g. website, services, etc.)
11. Develop a 3 year Roadmap Create a 3 Year low-cost Marketing Plan
Please see the Resources for high level Ideas pertaining to the project and the Institute.
- What is the main goal for this project?
-
Project Description:
Develop a 3 year Strategic Plan; Year-1 Implementation Recommendations; and 3 year high-level Roadmap for Third Party Risk Institute.
Corporate Objective:
To establish the Third Party Risk Institute (the Institute), a global virtual organization, as the “go to” resource for professional networking, training and education, adaptable frameworks, standards, and tools for third party risk management and third party risk management professionals.
Third party risk management is a “programmatic” way for a company to identify, assess, manage and control operational risk resulting from its relationship with entities, excluding relationships as their customer. Third parties are not just vendors, they are all relationships including agents, resellers, channel partners, joint ventures, and the list goes on and on. Depending on the size of the company, the business they’re in, and the markets where they operate, they will have hundreds, thousands, or tens of thousands of third party relationships.
There is no global network, single source or organization for professional networking, access to non-commercial information, tools, and resources for third party risk management practitioners to engage, learn and collaborate to advance the discipline and their career.
Please see Resources for a more detailed Corporate Objective.
Vision:
A network of third party risk management professionals from “buy” and “sell” side organizations, government and extended public sector organizations that have a personal and professional desire to grow their expertise and capabilities, strengthen and evolve third party risk management frameworks, standards, tool, practices and effectiveness.
Mission:
1. Deliver third party risk insight
2. Enable risk-informed decision making
3. Mitigate risk; comply with regulations and laws; improve performance; drive best value for money
4. Detect exposure to risks; respond effectively to risk events
5. Protect your reputation, stakeholders, and bottom line from preventable harm
Please see Resources for High Level Goals of the Institute.
Project Deliverables:
1. Validate the “value proposition” for membership
2. Define the motivation for becoming a member
3. Identify and evaluate competition (SWOT)
4. Assess market potential
5. Identify top 3 markets, industries and member profiles
6. Evaluate revenue potential for Fees and Revenues (see Ideas, #4)
7. Prioritize services and services that drive highest ROI in years 1 to 3
8. Estimated start up costs and work effort
9. Define critical success metrics
10. Create a high level Implementation Plan (e.g. website, services, etc.)
11. Develop a 3 year Roadmap Create a 3 Year low-cost Marketing Plan
Please see the Resources for high level Ideas pertaining to the project and the Institute.
- What tasks will learners need to complete to achieve the project goal?
-
No deliverables exist for this project.
About the company
- https://ontala.com/
- 0 - 1 employees
- Unknown industries
Ontala delivers market-leading expertise in Third Party Risk Management - design, assessment and implementation. We have the necessary expertise and leadership to deliver your target future state, on time and on budget. Our toolkit includes adaptable models, processes, templates and governance tools, complemented by hands-on experience, insight, expertise and a collaborative approach that has proven successful. Our Certified Third Party Risk Management Professional (C3PRMP) program, delivered by SIG University, is the global standard.