Third Party Risk Management (TPRM) is the process of identifying, assessing, and controlling risks associated with external vendors, suppliers, or service providers. In cybersecurity, TPRM focuses on evaluating the security practices of third parties to ensure they do not introduce vulnerabilities or threats to an organization’s data, systems, or operations. This process typically involves risk assessments, ongoing monitoring, contractual requirements, and incident response planning. Effective TPRM helps organizations maintain regulatory compliance, protect sensitive information, and reduce the likelihood of breaches originating from third-party relationships. As organizations increasingly rely on external partners, robust TPRM has become a critical component of overall cybersecurity strategy.