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• Create Date August 24, 2025
• Last Updated August 24, 2025

AI Procurement and Third Party Risk Assessment Playbook Template

Subtitle: Standardize your procurement and vendor evaluation process with a compliance-ready playbook for AI systems.

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AI vendors and third-party systems can introduce security, compliance, and ethical risks if not properly vetted. The AI Procurement & Third-Party Risk Assessment Playbook Template provides a structured process for screening, assessing, and contracting AI vendors with full due diligence.

Key Benefits:

• ✅ Procurement Standardization: Ensures every AI purchase goes through consistent risk checks.

• ✅ Vendor Risk Transparency: Includes questionnaires, scoring sheets, and evaluation workflows.

• ✅ Compliance Alignment: Supports EU AI Act, NIST AI RMF, ISO 27001, GDPR, HIPAA.

• ✅ Cross-Functional Governance: Roles for legal, compliance, IT security, and data science teams.

• ✅ Audit-Ready: Documented risk mitigations, approvals, and vendor contracts for regulators.

Who Uses This?
Procurement managers, compliance officers, CIOs, and risk teams who need a playbook for AI Procurement & Third-Party Risk Assessments.

Why This Matters

As AI adoption accelerates, organizations increasingly rely on third-party AI systems. Without a structured AI Procurement & Third-Party Risk Assessment, companies risk non-compliance with the EU AI Act, vendor lock-in, data exposure, or biased AI outcomes. This playbook ensures vendors are screened against compliance, security, and ethical standards before deployment.

Framework Alignment

This playbook is designed to align with:

• EU AI Act — Requires due diligence and compliance documentation from AI vendors.

• NIST AI RMF — Vendor risk integration within trustworthy AI lifecycle.

• ISO/IEC 27001 & 42001 — Security and AI governance standards.

• GDPR & HIPAA — Vendor privacy and data handling obligations.

• CSA Recommendations — Extends vendor evaluation to transparency, fairness, and trustworthiness.

Key Features

• Quick Start Guide: Instructions for customizing, assigning roles, and tailoring to your organization.

• Vendor Screening Process: Defines requirements, risk profiles, and initial vendor reputability checks.

• Risk Questionnaires: Covers bias, fairness, transparency, data security, privacy, and compliance.

• Evaluation Workflow: Cross-functional review (legal, compliance, IT security, data science).

• Risk Mitigation Plan: Documents risks (bias, stability, data exposure) and required mitigations.

• Compliance & Legal Review: Ensures contracts cover liability, GDPR, HIPAA, IP rights, and AI Act obligations.

• Approval & Accountability: Includes sign-off chain, effective dates, and version history.

• Adaptability: Works for SaaS, cloud-based APIs, open-source models, and on-premises AI tools.

Comparison Table

FAQ Section

Q1: What is the AI Procurement & Third-Party Risk Assessment Playbook?
A: It is a structured framework for evaluating AI vendors and third-party AI systems, ensuring compliance, security, and ethical standards are met before procurement.

Q2: Which frameworks does this playbook align with?
A: It aligns with the EU AI Act, NIST AI RMF, ISO/IEC 27001, ISO/IEC 42001, GDPR, HIPAA, and CSA vendor risk recommendations.

Q3: Does it include questionnaires and scoring tools?
A: Yes. The playbook includes a vendor risk questionnaire, evaluation scoring, and mitigation planning templates.

Q4: Can SMEs use this playbook?
A: Yes. It is designed to scale, allowing SMEs to use streamlined sections and enterprises to apply the full cross-functional review process.

Q5: Does it address vendor contracts and compliance clauses?
A: Yes. It includes contractual requirements for GDPR, HIPAA, EU AI Act obligations, and vendor accountability.

Q6: What is the best way to view and use this playbook?
A: Documents are best viewed and used via Microsoft Word or Excel. Formatting may not fully display in Google Docs or other editors.

Ideal For

• Procurement & Vendor Management Teams

• Compliance Officers & Legal Teams

• Chief AI Officers (CAIOs)

• IT Security & Data Governance Leaders

• Risk & Audit Committees

• Organizations adopting external AI solutions