Consider the following as you maintain and manage your technology assets

  • Be Proactive
    • Inventory existing software used by your department, to help anticipate renewal dates and plan accordingly. 
    • The typical engagement timeline for a VRA is up to 4 months, depending upon the cooperation of the vendor.
    • If there is an existing VRA, the engagement timeline may be reduced.
    • Existing VRAs that are more than a year old may require update or reassessment be conducted.
  • Be Aware
    • Shared Services Organization will not process a purchase request without verification that a risk assessment has been completed.
    • Supply Chain Management will not initiate a PO without the appropriate approvals.
    • VRAs are use case specific. Therefore, an existing VRA for a technology purchase you are interested in may require reassessment based on your use case.
    • Prior to making a technology purchase based on pre-existing VRA, departments should review associated recommendations with ISO.
    • While you may have made recent technology purchases without a VRA, those same purchases or renewals will require a VRA going forward.

VRA Forms