Patent ID: 11907959
Assignee: VENMINDER, INC.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 14:
15. An enterprise system workflow for vendor risk assessment comprising:
causing to display, by a processor of the enterprise system, one or more graphical user interfaces (GUIs) associated with one or more risk assessment modules;
creating, by a first client via the one or more risk assessment modules, a risk assessment template, the risk assessment template configured to allow the first client to define rating scales, risk levels, and/or scoring formats;
selecting, by the first client, a plurality of risk assessment questionnaires comprising an inherent risk questionnaire and a residual risk questionnaire;
defining, by the first client, a plurality of risk levels for each of the inherent risk questionnaire and the residual risk questionnaire;
performing, by the first client, an inherent risk assessment by answering a plurality of inherent risk questions in the inherent risk questionnaire, wherein answering the plurality of inherent risk questions comprises sliding a slider corresponding to each question within the inherent risk questionnaire to the appropriate risk level for each corresponding question within the inherent risk questionnaire;
performing, by the first client, a residual risk assessment by answering a plurality of residual risk questions in the residual risk questionnaire, the residual risk questions identifying mitigating controls that are being implemented by the vendor to mitigate risks identified via the inherent risk questionnaire, wherein answering the plurality of residual risk questions comprises sliding a slider corresponding to each question within the residual risk questionnaire to the appropriate risk level for each corresponding question within the residual risk questionnaire; and
determining a final risk score, based at least partially on (1) an inherent risk score determined from the inherent risk questionnaire, and (2) a residual risk score determined from the residual risk questionnaire,
wherein at least one of the inherent risk questionnaire and the residual risk questionnaire comprises at least one tiered question only visible to the first client if a particular response to a parent question of the inherent risk questionnaire and/or the residual risk questionnaire was selected by the first client.