Partner & Vendor Assessment
A comprehensive evaluation framework for technology partners and vendors, combining ISO 44001 collaborative relationship management standards with Big Four Third-Party Risk Management (TPRM) best practices.
What This Tool Does
- Evaluates vendors across 18 criteria in 6 categories
- Calculates weighted final score (0-5 scale)
- Provides clear recommendation: PROCEED / CONDITIONAL / DO NOT PROCEED
- Enforces due diligence with 12-item checklist (3 mandatory)
- Supports multi-reviewer sign-off workflow
When to Use This Tool
Use This Tool When:
- • Evaluating a new technology vendor or partner
- • Assessing SaaS providers, system integrators, consultants
- • Performing third-party risk management (TPRM)
- • Making strategic partnership decisions
- • Documenting vendor due diligence for compliance
- • Comparing multiple vendor candidates
Not Suitable For:
- • Bid/no-bid decisions (use Bid/No-Bid Evaluator)
- • Product evaluation without partnership context
- • Internal team or department assessment
- • One-time transactional purchases
- • Customer evaluation or qualification
Supported Vendor Types
Assessment Framework
This tool combines established frameworks from collaborative relationship management and third-party risk assessment to create a comprehensive vendor evaluation approach.
1. ISO 44001:2017 - Collaborative Business Relationship Management
The international standard for managing collaborative business relationships. Provides framework for partner selection, relationship governance, and value creation. Categories A (Strategic Fit), D (Cultural Compatibility), and F (Governance) are directly aligned.
2. Big Four TPRM - Third-Party Risk Management
Draws from Deloitte, EY, KPMG, and PwC third-party risk frameworks. The 12-item due diligence checklist and risk assessment categories (B, C, E) follow enterprise TPRM best practices for comprehensive vendor vetting.
3. Veto Authority - Critical Risk Gates
Four criteria can trigger automatic "DO NOT PROCEED" regardless of aggregate score: Technical Expertise, Financial Stability, Compliance Risk, and Reputational Risk. This prevents high strategic scores from overriding fundamental viability concerns.
4. Multi-Reviewer Sign-Off
Separate Business and Technical reviews ensure diverse perspectives. Both reviewers must approve before final recommendation. Conditions and mitigations are tracked with timestamps.
Scoring System
Categories & Weights
| Category | Weight | Description | Veto Power |
|---|---|---|---|
| A. Strategic Fit | 20% | Vision, objectives, market synergy | - |
| B. Technical Capability | 20% | Expertise, tech fit, innovation | Yes (B1) |
| C. Financial Health | 15% | Stability, revenue, investment capacity | Yes (C1) |
| D. Cultural Compatibility | 15% | Values, communication, decision style | - |
| E. Risk Profile | 15% | Compliance, operational, reputational | Yes (E1, E3) |
| F. Governance Readiness | 15% | Structure, decision rights, exit strategy | - |
Score Scale (1-5)
All Criteria (18 Total)
Due Diligence Checklist
A 12-item checklist ensures thorough vendor vetting before partnership decisions. Three items are mandatory - they must be completed before proceeding. If 4+ items are marked "NO" without documented mitigation, the checklist fails.
| Item | Category | Description | Required |
|---|---|---|---|
| DD1. Corporate Documents | Legal | Verify registration, licenses, legal standing | Mandatory |
| DD2. Litigation Check | Legal | No pending litigation or regulatory actions | - |
| DD3. Financial Review | Financial | Financial statements reviewed (3 years) | Mandatory |
| DD4. Credit Check | Financial | Credit rating and payment history verified | - |
| DD5. Reference Check | References | Customer/partner references contacted | Mandatory |
| DD6. Track Record | References | Previous partnership outcomes verified | - |
| DD7. Data Protection | Compliance | Data protection policies reviewed (GDPR, CCPA) | - |
| DD8. Certifications | Compliance | Industry certifications validated (ISO, SOC2) | - |
| DD9. Security Assessment | Security | Information security posture evaluated | - |
| DD10. Site Visit | Operations | Facility or office audit conducted | - |
| DD11. Key Personnel | People | Key personnel backgrounds verified | - |
| DD12. ESG Screening | ESG | Environmental/Social/Governance screening | - |
Mandatory Items
Corporate Documents, Financial Review, and Reference Check must be completed with "YES" status before recommendation can be PROCEED.
Checklist Failure
If 4 or more items are "NO" without documented mitigation, the checklist fails and recommendation becomes DO NOT PROCEED.
Decision Rules
| Final Score | Conditions | Recommendation |
|---|---|---|
| Any | VETO triggered (B1=1, C1=1, E1=1, or E3=1) | DO NOT PROCEED |
| Any | Mandatory DD items incomplete | DO NOT PROCEED |
| Any | 4+ checklist items NO without mitigation | DO NOT PROCEED |
| ≥ 4.0 | All mandatory items complete, no veto | PROCEED |
| 3.5 - 3.9 | All mandatory items complete, no veto | PROCEED WITH MONITORING |
| 3.0 - 3.4 | All mandatory items complete, no veto | CONDITIONAL |
| < 3.0 | Any | DO NOT PROCEED |
PROCEED
Strong vendor candidate. Move forward with partnership negotiations and contracting.
PROCEED WITH MONITORING
Acceptable with enhanced oversight. Implement quarterly reviews and KPI tracking.
CONDITIONAL
Proceed only if documented conditions are met. Requires specific mitigations.
DO NOT PROCEED
Too risky - not recommended. Consider alternative vendors or escalate to leadership.
Workflow
Create Assessment
Assessor creates new vendor assessment and fills vendor information.
Score All Criteria
Score each of the 18 criteria across 6 categories with rationale and evidence.
Complete Due Diligence
Work through 12-item checklist, ensuring all 3 mandatory items are complete.
Add Conditions (if needed)
Document any conditions or mitigations required before proceeding.
Business Review
Business Owner reviews strategic fit (A), financial health (C), and commercial terms.
Technical Review
Technical Lead reviews technical capability (B), risk profile (E), may exercise VETO.
Final Recommendation
Both reviewers approve, system generates recommendation, proceed accordingly.
Sources & References
ISO 44001:2017
Collaborative business relationships - A framework for identifying and collaborating with partners, establishing collaborative relationships, and delivering value.
iso.org/standard/72798.htmlBig Four TPRM Frameworks
Third-Party Risk Management methodologies from Deloitte, EY, KPMG, and PwC. Due diligence checklist and risk categories aligned with enterprise TPRM best practices.
HBR/MIT Alliance Research
Kale, P. & Singh, H. (2009). "Managing Strategic Alliances: What Do We Know Now, and Where Do We Go From Here?" Academy of Management Perspectives.
COSO ERM Framework
Committee of Sponsoring Organizations of the Treadway Commission. Enterprise Risk Management - Integrated Framework for risk assessment categories.
coso.orgReady to Start?
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