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IT risk assessment template

IT risk assessment template

Use this IT risk assessment template to document, score, and manage IT risks for audits and compliance reviews.

Use this template with Lumiform

The Lumiform application helps frontline teams uphold internal standards effortlessly.
  • Customize this template or build your own
  • Fill out templates via mobile app
  • Assign and track corrective actions
  • Get reports and analyse your data
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or Download template as PDF
IT risk assessment template

Use this IT risk assessment template to document, score, and manage IT risks for audits and compliance reviews.

Use this template with Lumiform

The Lumiform application helps frontline teams uphold internal standards effortlessly.
  • Customize this template or build your own
  • Fill out templates via mobile app
  • Assign and track corrective actions
  • Get reports and analyse your data
Prices start from ░░░ per month
Book a demo
Learn more
or Download template as PDF

Our IT risk assessment template is designed to help you systematically identify, evaluate, and document technology-related risks across your organization—from data breaches and unauthorized access to outdated systems and vendor vulnerabilities. By offering a practical, audit-ready structure, this template supports IT managers, compliance teams, and risk professionals in maintaining robust information security and meeting regulatory standards.

According to Hiscox’s global report, 67% of organizations reported at least one significant cybersecurity incident over a year, so it’s critical to assess and mitigate risks regularly. If you need tools for specific scenarios—such as project, vendor, or business risk assessment—you can also browse our full range of dedicated templates to cover every aspect of your risk management program.

Related categories

Preview of the template
Audit
General
What's the purpose of this assessment?
Specify the range of the IT risk assessment.
Explain key technology components including commercial software:
Explain how users enter the system and their planned usage of the system:
List all participants including position (e.g. system owner, system custodian, network manager etc.):
Risk Assessment
Click Add Threat Source & Vulnerability (+) after you have identified a vulnerability or threat source
Threat Source & Vulnerability
What did you observe?
Threat origin/ vulnerability
Proof (flow diagrams, screenshots etc.)
Existing checks
Risk rating
Consequences:
Probability:
Overall risk rating:
Recommended Controls
Recommended inspections or alternative options for decreasing risk:
Completion
Any further recommendations:
Full name and signature:
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Frequently asked questions

What are the key steps involved in conducting an IT risk assessment?

Key steps include identifying IT assets, spotting potential threats and vulnerabilities, evaluating the likelihood and impact of each risk, implementing controls to reduce them, and documenting everything. Regular reviews are also essential as your systems and threats evolve over time.

What are examples of risks typically identified in an IT risk assessment?

Typical risks include unauthorized access, phishing attacks, malware infections, software vulnerabilities, data loss from hardware failure, and gaps in backup processes. The specifics will depend on your industry, systems, and level of digital maturity.

What are common IT risk assessment tools or frameworks?

Popular tools and frameworks include NIST’s Risk Management Framework, ISO/IEC 27005, and the FAIR model. These provide structured methods for assessing and managing IT risks and can help standardize your approach across the organization.

How do you determine the likelihood and impact of IT risks?

To determine likelihood, consider factors like historical incidents, exposure, and existing controls. You can measure impact by potential consequences such as financial loss, service disruption, or data breaches. By combining both, you can prioritize which risks to address first.

This template, developed by Lumiform employees, serves as a starting point for businesses using the Lumiform platform and is intended as a hypothetical example only. It does not replace professional advice. Companies should consult qualified professionals to assess the suitability and legality of using this template in their specific workplace or jurisdiction. Lumiform is not liable for any errors or omissions in this template or for any actions taken based on its content.