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Security IT Risk Assessment

Proactively manage information technology risks and get the most out of your business with digital checklists.

Go paperless, conduct inspections easily and solve issues quicker with your teammates.

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IT Risk Assessment Template

Use this template to perform information security risk and vulnerability assessments.

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IT Impact Analysis Template

With this template, multiple risks can be assessed for specific IT functions.

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What is an IT risk assessment?

Security risks in information technology (IT) are identified and evaluated through a IT risk assessment so that measures can be taken at an early stage and threats can be averted.  IT risk assessment is intended to support IT experts and information security officers in reducing vulnerabilities that can harm information architecture and business assets.

An IT risk security template is used by IT staff to identify potential cybersecurity vulnerabilities and minimize the risks to organizational operations.

These topics are covered in this article:

1. The phases of IT risk assessment

2. Key points of the IT risk analysis

3. Secure technology that helps with IT risk analysis

The phases of an IT risk assessment

Every company should know the threats and vulnerabilities that threaten their information security on a daily basis. The It risk assesment is carried out in several phases in succession:


1. Identification of IT risks

2. Assessment of the probability of occurrence

Once an IT risk has been identified, the probability of occurrence is determined in more detail. What are the possible effects and consequences? For example, the authenticity and confidentiality of data or the loss of important system functions may suffer. Possible damages are: Company reputation, loss of image, costs for repairs, legal disputes, etc.

3. Assessment of the consequences and possible damage

The actual IT risk results from the manipulation of the probability of occurrence and the amount of damage.

4. Determination of the total extent of the damage

In risk analysis for IT security, a distinction can be made between qualitative and quantitative evaluation. The qualitative IT risk analysis tries to get an overall impression of a certain risk. The quantitative IT risk analysis uses a numerical scale for IT risk analysis.

7 key points for IT risk analysis

IT experts and security officers should consider the following points when performing an IT risk analysis:

  1. Identify company assets - this can be confidential information, customer information, hardware, software, network topology, etc. The best way is to work with other departments to identify other valuable company assets and determine which of them should be prioritized.

  2. What are the threats? - are the main threats to IT: 1) natural disasters, 2) human error/malicious intent and 3) system failure.

  3. What are the vulnerabilities? - Vulnerabilities in security are vulnerabilities that can expose assets to a threat. Regular internal audits, penetration tests, etc. help uncover vulnerabilities in the company.

  4. Likelihood of incidents - an assessment of the vulnerability of the assets helps to correctly assess the threats and the probability of an incident

  5. What are the possible effects? - one or a combination of the following effects can occur when the company's assets are threatened Loss of data, loss of production, legal action, fines and penalties, negative impact on the company's reputation.

  6. Establish controls - first, existing controls are reviewed. New inspections may need to be implemented or old ones updated to adapt to new and changing threats.

  7. Continual Improvement - the results of risk analyses must be documented and reviewed to better identify and address new threats.

Secure technology useful for risk analysis in IT

Weak points and new threats regularly occur in IT security. Companies must be proactively searching for the weak points and be aware of new threats if they want to keep up with the constantly emerging dangers. Time-critical risks may require immediate action. Paper-based IT risk analyses are therefore a bad choice if threats are to be averted in time.

In this case, the solution is a digital technology with which weak points can be immediately detected and countermeasures can be initiated. The following are some of the advantages of Lumiform's digital solution:


  • Generate real-time data via internal processes. This makes quality and security measurable, and you can use the data to optimize processes continuously.

  • Reports are created automatically - this saves the complete postprocessing.

  • Increase the efficiency of your internal processes: Through more efficient communication within the team, with third parties and with management, as well as faster incident reporting, you solve incidents up to 4x faster than before.

  • Save time by analyzing all data more efficiently and identifying areas that need your attention more quickly.

  • Continuous improvement of quality and safety: With the flexible checklist construction kit, you can constantly optimize internal tests and processes. Since Lumiform guides the examiner through the exam, no training is required.

  • The very simple operation offers no margin for error for inspectors on site. The app offers less complexity in documenting or filling out checklists than complicated paper or Excel lists.

  • Depending on the application, tests are carried out about 30%-50% faster or faster.

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