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Glossary › Risk Lifecycle
What is Risk Lifecycle?
The risk lifecycle provides a structured approach to manage risks from discovery through closure. In TPRM, it governs how vendor-related risks are captured, prioritized, assigned, remediated, and tracked over time.
FAQs
Why use a lifecycle model?
It brings consistency to risk operations.
Does every risk reach closure?
No, some become ongoing residual risks.
Is the lifecycle continuous?
Yes, risks evolve throughout the vendor relationship.
Responsible-AI TPRM Guide
Discover how risk teams apply AI responsibly to reduce third-party blind spots and stay audit-ready across global regulations.