How do you identify and prioritize the highest-impact contract risks?

Start by classifying contracts by business function, regulatory exposure, and financial value; then apply risk scoring to focus on those with the greatest potential impact.

What role does third-party and fourth-party risk play in prioritization?

These dependencies can amplify operational and regulatory exposure, so include continuous external monitoring and explicit contractual obligations for upstream and downstream parties.

How should contracts incorporate risk mitigations and ownership?

Embed standard mitigation clauses and assign named owners for key obligations to ensure ongoing monitoring and accurate reporting across the lifecycle.

What automation tools support effective risk prioritization?

AI-driven CLM platforms like Sirion provide automated risk detection, portfolio dashboards, and workflow guardrails that streamline prioritization and response.

How do you monitor and review contract risks on an ongoing basis?

Implement continuous telemetry, periodic reassessments, and automated alerts tied to renewals, control failures, and third-party changes to trigger timely action.