Does your organization adjust third-party assessment formats and frequencies based on the vendor's reputation and the criticality of their products or services?

This question evaluates whether your organization tailors its third-party risk management approach rather than using a one-size-fits-all method. Higher-risk vendors providing critical services should undergo more rigorous and frequent assessments than lower-risk vendors. For example, a cloud provider hosting sensitive customer data might require quarterly comprehensive assessments, while an office supply vendor might only need an annual lightweight review. Evidence could include a documented third-party risk management framework that defines different assessment tiers, frequencies, and formats based on vendor criticality and reputation scores. This might be a matrix showing how assessment depth and frequency increases with risk level, along with examples of different questionnaires or assessment templates used for various vendor categories.