Create a Vendor Mitigation Task

In the context of vendor risk management, a mitigation task is a specific action or set of actions that an organization takes to address and reduce the risks associated with a particular vendor. Mitigation tasks are a key component of an organization's overall risk management strategy when working with vendors and suppliers.

Mitigation Tasks can be created in two ways.

• Method #1: From the Vendor Overview Page
• Method #2: From Submitted Questionnaires

Method 1: From the Vendor Overview Page

1. From the left navigation panel, expand Risk menu.

2. Click Vendors and go to Vendors tab.

   

3. Click on the vendor you want to create mitigation task.

   

4. Click on the Mitigation Tasks tab.

   

5. Click + Start Creating A New Mitigation Task.

   

Create Mitigation Task window opens.

6. In the Task Name field, provide a descriptive name for the mitigation task.
7. Optionally, in Description, enter description of the mitigation task.
8. From the Assignee drop-down menu, select a user who would work on the mitigation task.

9. select the due date for the task in the Due Date field.
10. Click Create Mitigation Task.

Method 2: From Submitted Questionnaires

If there is a risk identified based on vendor's submitted answer, click Add Mitigation Task.

Create Mitigation Task window opens.

1. In Task Name field, enter the title of the mitigation task.
2. Optionally, in Description field, enter description of the task.
3. From the Assignee drop-down menu, assign the task either directly to the vendor, or to someone within the internal team..
4. Select the due date for the task in the Due Date field.
5. Click Create Mitigation Task.

Once created you can view the Mitigation Task within the Question.

6. Click on the mitigation task created.

Linked Mitigation Task window opens.

7. Click on the Mitigation Task name to view the linked task.

8. Audit logs- Provides clear and accurate logging of vendor-level activities, minimizing confusion and enhancing usability.