Select and Implement a Governance, Risk, and Compliance (GRC) Solution

Synchronize your enterprise governance, risk, and compliance to optimize operational efficiency.

Onsite Workshop

Without a GRC solution, an organization runs the following risks:

  • Regulatory fines from inconsistent/unenforced policies and procedures inefficiently distributed to users.
  • Unidentified and unmanaged risks and threats inhibiting corporate goals.
  • Wasted resources attempting to manually centralize and manage assets, audit, financial control, etc. information.

Implementing a GRC solution across the organization results in:

  • Centralized policies and procedures, supporting compliance requirements.
  • Smarter strategic decisions, while risks and opportunities are identified.
  • Strengthened collaboration across departments, from IT and security, to audit and legal.

Module 1: Launch the GRC Project

The Purpose

  • Understand the GRC marketspace.
  • Plan the GRC procurement process.
  • Identify the use case scenarios that align with your GRC requirements.
  • Determine baseline metrics to evaluate the solution’s effectiveness.  

Key Benefits Achieved

  • Be aware of the options existing and where the market is going with respect to GRC solutions.
  • A formally documented procurement process will keep the process on track as individuals are aware of roles, responsibilities, deadlines, etc.
  • Focus on the use case scenario that applies to your organization.
  • Assess your GRC solution based on concrete metrics that matter.

Activities: Outputs:
1.1 Discuss the current GRC market.
  • Realistic perspective of the GRC marketspace.
1.2 Determine if a GRC solution is right for you.
  • Aspects that require a fully implemented GRC module.
1.3 Develop the GRC Procurement Charter.
  • Formalized procurement process.
1.4 Identify your best-fit use-case scenario.
  • The most appropriate use-case scenario to structure your evaluation around.
1.5 Brainstorm baseline metrics and target goals to gauge the solution’s effectiveness.
  • Set of metrics to track the effectiveness of the solution.

Module 2: Plan Your Procurement and Implementation Process

The Purpose

  • Review the vendor profiles to understand strengths, weaknesses, and challenges.
  • Customize the RFP to submit to vendors.
  • Ensure vendor demos focus on the features you care about, rather than simply highlighting their strengths.
  • Learn from best practices to streamline the implementation process and leverage all available resources to get started.

Key Benefits Achieved

  • Select a solution that meets your requirements and fulfills your specific needs. What’s best for one organization isn’t necessarily best for everyone.
  • Save time developing the RFP to share the statement of work, scope of work, requirements, budget & estimated pricing, etc.
  • Realistic view of the products performing relevant tasks.
  • Simplified and efficient implementation plans.

Activities: Outputs:
2.1 Analyze the vendor landscape.
  • Detailed understanding of the vendor landscape.
2.2 Create a custom vendor shortlist.
  • Narrowed down list of suitable solutions.
2.3 Develop Request for Proposal (RFP).
  • Completed and reviewed RFP document.
2.4 Standardize a Vendor Demo Script.
  • Fairly evaluated vendor demos.
2.5 Plan the implementation, including building, testing, and rolling it out.
  • Best practices regarding GRC implementation.

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