CHICAGO Metrics®
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VRAP Details

About the Vendor Risk Assessment Platform (VRAP)
  • Our platform provides a method to quickly evaluate third-party vendor risk using a standardized questionnaire.  The VRAP looks at more than the results to generate a score.  The VRAP looks at:
    • The actual results or answers to the questions.
    • Vendor's perceived residual risk (Likelihood and Impact) of the result with a risk acceptance band shown below.  Over investment in one area introduces extra risk in other areas due to limits of resources.
    • The estimated cost to bring risk level to an acceptable risk level leveraging a 3D effort approach including: Time, People, and Money (shown below).
    • Weights the results against the six CHICAGO Metrics® to identify risk areas.
  • The CHICAGO Metrics® VRAP is unique by having the customer also complete the VRAP to compare the company's results to the vendor's results.  Thereby, making a more informed risk-based decision.

Result Comparison

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In this case the Demo Company would recommend to move forward with the company due to a higher overall score than the company.  Also, their average risk rating is low with a high effort rating.  Based on the VRAP, the maturity and practice of the sample vendor looks to be acceptable.  Each of the CHICAGO Metrics® are also much higher than the company's painting a positive picture of the vendor's program, comparatively.
​Risk Rating - Heat Map
​Effort Rating - 3D Heat Map
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The VRAP can be customized
We are able and willing to make a custom version of the VRAP questionnaire for $1500. Here are the conditions:
  • The specific custom version is at most 50 questions.
  • It is able to be made available to all members. Be sure to name it appropriately if you don't want attribution.
  • Be sure to tell your vendors which version to complete.
  • Questions should be binary (Yes/No) or framed around percentages versus pure counts.

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Photo used under Creative Commons from WebGregor
  • Home
  • Program
    • Program Details
    • VRAP Details
    • Pledge 1%
    • Sample Board Report
  • Pricing
    • Packages
    • SaaS Comparison
  • Get Support
    • Support
    • FAQs
    • License
  • About
    • About Us
    • Careers
    • Members
    • Partners
    • Contact
  • SAAS LOGIN/REGISTER
    • Metrics Login and Registration
    • GMIS Accreditation Login
  • Personal
    • Personal - Program Details
    • Personal Packages Comparison
    • Packages
    • Personal (Resume) Login
    • Editing Packages