Use Case: Vendor Risk Management for Renewable Energy Projects

Overview

Cybervergent is a comprehensive solution designed to enhance security, compliance, risk, and privacy management for organizations.

With both on-premises and cloud capabilities, it seamlessly integrates with third-party APIs, platforms, and systems.

The Cybervergent Platform helps with data protection and governance to ensure that organizations meet global regulations while maintaining operational efficiency.

The Challenge

The shift to renewable energy involves massive, complex, multi-year projects (e.g., solar farms, wind parks) that rely on dozens of specialized contractors and sub-contractors for construction, hardware supply, and maintenance. The success of the project is often jeopardized by third-party risks that are difficult to track, such as security lapses in their supply chain, which could make equipment vulnerable.

Traditional risk management approaches are too slow and siloed to handle the dynamic, multi-contractor environment of a major energy build. The lack of a centralized grc platform meant that operational and security risks were managed in separate spreadsheets or systems, making it impossible to get a consolidated, real-time view of the total risk exposure for the multi-billion dollar project.

The RPM Solution

Centralized Risk Tracking: RPM provides a single, centralized platform to assess and track the risk profiles of all project contractors and sub-contractors involved in the renewable energy build.

Real-Time Monitoring: The platform conducts real-time monitoring for digital and operational risks that could impact project timelines or budgets.

Enhanced Accountability: RPM establishes clear ownership for all detected risks, ensuring project stakeholders are accountable for addressing and mitigating issues rapidly.

The Results

By adopting Cybervergent RPM, the company transformed its approach to project governance. The platform provided a holistic, real-time risk score for the entire project, allowing management to immediately identify high-risk contractors based on both financial instability and poor security scores. This visibility enabled the company to make timely decisions before contractors could cause a costly delay or introduce vulnerable components. This enhanced vendor accountability and guaranteed the secure, successful completion of its high-profile renewable energy projects.