OpenPages Third Party Risk Management objects

This topic provides information about the IBM OpenPages® Third Party Risk Management objects.

Contract: Contract objects are child objects of Vendor or Engagement objects. A Contract represents a business or legal agreement between a Business Entity and a Vendor or Engagement. A Contract contains additional, supporting information, for example, the timeframe of the contract or monetary information. Contracts are optional.
Engagement: Engagement objects are child objects of Vendor objects. An Engagement represents a single service that is provided by a Vendor. You use them to differentiate between various services and agreements you have with a Vendor. Engagements are optional. They can be subject to questionnaire assessments, risk assessments, or tiering. You can summarize and analyze risk that is associated with different Engagements. You can add a parent association to the process or sub-process that an Engagement supports.
Location: The Location object type is used to capture geography and location details that are needed in the contingency planning process. Location information can include, for example, the number of employees who work at a location, assets (such as computer equipment), and other location details.
RapidRatings Ratings: RapidRatings Ratings objects are used with the RapidRatings connector in IBM OpenPages Third Party Risk Management. The RapidRatings Ratings objects store financial ratings and are children of Vendor objects.
RiskRecon Ratings: RiskRecon Ratings objects are used with the RiskRecon connector in IBM OpenPages Third Party Risk Management. The RiskRecon Ratings objects store vendor ratings and scores at the category and subcategory levels. The RiskRecon Ratings objects are created under /BusinessEntity/Library/VRM/VRMLibrary/RiskRecon and are children of Vendor objects.
Sub-Contractor: Sub-Contractor objects are child objects of Vendor objects. A Sub-Contractor represents a portion of a service that is provided by a Vendor. Sub-Contractor is an optional object type. Sub-Contractors can be subject to questionnaire assessments, risk assessments, or tiering. You can summarize and analyze risk that is associated with different Sub-Contractors. You can add a parent association to the process or sub-process that a Sub-Contractor supports.
Vendor: A Vendor represents a third-party company from which a firm procures goods or services. Vendors can have four types of child objects: Vendor Subsidiary, SubContractors, Engagements and Contracts. Vendors can be subject to questionnaire assessments, risk assessments, or tiering. You can summarize and analyze risk associated with different Vendors. You can add a parent association to the process or sub-process that a Vendor supports.
Vendor Subsidiary: A Vendor Subsidiary represents a subsidiary of a Vendor from which a firm procures goods or services. Vendor Subsidiary is an optional object type. Vendor Subsidiary is a child of Vendor. Vendor Subsidiary can have three types of child objects: SubContractor, Engagements and Contracts. Vendor Subsidiary can be subject to questionnaire assessments, risk assessments, or tiering. You can summarize and analyze risk associated with different Vendor Subsidiaries. You can add a parent association to the process or sub-process that a Vendor Subsidiary supports.