Vendor Risk Score Formula Change

Note: The below formula change only applies to new vendors created in customer accounts. For existing vendors, the old formula is still applied. We do not want to change your existing vendor risk score without your explicit permission. If you wish to change it to the new formula, please reach out to your customer success manager.

Previous Formula

In the previous version, all questionnaires were considered for calculating the risk score. If questions inside the questionnaire were given a risk score, but the GRC Team did not accept the complete questionnaire itself, Scrut was used to calculate the risk score for that questionnaire.

New Formula

The complete questionnaire must be in the accepted state so that it can be considered for calculating the vendor's risk score. Refer to the screenshot below. The individual questions have been reviewed, but the complete questionnaire has not been accepted by the user. So, it won’t be considered in calculating vendor risk score.

How is it calculated?

1. Get all the questionnaires of vendors that are in an accepted state.

2. Get all the questions in a given questionnaire that are in an accepted state and calculate the average. Average = (sum of risk score [if no risk score, then 0 is added])/total number of questions in that questionnaire which are in the accepted state.

3. Calculate the average risk score for the vendor. Average = (sum of all the risk scores calculated in step 2/ number of questionnaires that are in accepted state)

   If you have any questions or issues, please reach out to your assigned Customer Relationship Manager. They'll be happy to assist you!

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