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IT security risk assessment template

IT security risk assessment template

Evaluate threats, analyze vulnerabilities, and plan mitigation strategies with this template. Stay organized and build a comprehensive risk management plan.

Use this template
or download pdf
IT security risk assessment template

Evaluate threats, analyze vulnerabilities, and plan mitigation strategies with this template. Stay organized and build a comprehensive risk management plan.

Use this template
or download pdf

About the IT security risk assessment template

Staying ahead of cybersecurity threats is a constant challenge for organizations in every industry. This IT security risk assessment template helps you simplify this critical process by offering a structured way to evaluate risks, document vulnerabilities, and prioritize action items. Use it to conduct consistent, thorough, and actionable assessments.

Stay ahead of threats with an IT security risk assessment template

The IT security risk assessment template is thoughtfully designed to make your assessments more efficient. It includes dedicated sections for cataloging hardware, software, and network assets, identifying risks, evaluating vulnerabilities, and planning mitigation strategies.

By using this template, you can focus on protecting your organization’s data. The organized layout ensures you don’t miss critical steps, helping you analyze threats and plan responses without wasting time. You’ll also find it easier to collaborate with your team by clearly documenting risks and action items.

This tool benefits you by streamlining complex tasks into manageable steps, saving you hours of guesswork. Use it to strengthen your IT security protocols and build confidence in your risk management practices.

Key elements of the IT security risk assessment template

The template features the following main sections:

  1. Asset inventory: Document all hardware (servers, laptops), software (applications and versions), and network infrastructure (routers, firewalls). This gives you a complete overview of what needs protection and highlights any gaps.
  2. Risk identification: List potential threats like malware, unauthorized access, or data breaches, and assess the vulnerabilities of your assets. This step ensures your organization is prepared to tackle specific security challenges.
  3. Risk analysis: Evaluate how likely each threat is to occur and its potential impact on your systems. Categorize risks as high, medium, or low priority, so you can focus your efforts on the most critical areas.
  4. Risk treatment: Propose mitigation strategies, assign responsibilities, and estimate costs for addressing risks. Clear action plans ensure nothing is overlooked during implementation.
  5. Monitoring and review: Establish key risk indicators, set regular assessment schedules, and document reporting processes. This section keeps your security measures up to date and adaptable to evolving threats.

Download Lumiform’s IT security risk assessment template

Protect your organization with a streamlined approach to IT risk management. The template simplifies your workflow by guiding you through asset tracking, risk analysis, and mitigation planning. It helps you prioritize effectively and tackle vulnerabilities with confidence.

Categories

  • Risk management and compliance templates
  • ICT templates
  • Risk assessment templates
Preview of the template
Page 1
General Information
Organization Name
Department / Division
Assessment Date
Asset Inventory
List all hardware assets (servers, desktops, laptops, etc.)
List all software applications and versions
Document network infrastructure (routers, switches, firewalls, etc.)
Risk Identification
Identify potential security threats (e.g. malware, unauthorized access, data breaches)
Assess vulnerability of assets to identified threats
Evaluate likelihood of threats occurring
Determine potential impact of threats
Risk Analysis
Categorize risks as high, medium or low priority
Identify existing security controls and their effectiveness
Determine residual risk after considering controls
Risk Treatment
Propose mitigation strategies for high/medium risks
Estimate cost of implementing mitigation strategies
Define responsibilities and timelines for risk treatment
Monitoring and Review
Establish key risk indicators to monitor
Determine frequency of risk assessments
Document process for reporting and escalating risks

Frequently asked questions

How do we evaluate the impact of a potential IT security threat?

To evaluate a threat’s impact, consider how it could affect your systems, data, and operations. Assess the sensitivity of compromised information, potential downtime, and financial consequences. For example, losing customer data could damage trust and trigger compliance fines, while an operational shutdown might disrupt service delivery.

What are some lesser-known IT security risks companies should watch out for?

While phishing and malware are well-known, risks like shadow IT (unauthorized apps) and unsecured Internet of Things (IoT) devices often go unnoticed. Employees using personal devices without proper security measures also pose threats. Regularly audit systems to identify unexpected vulnerabilities.

How can we prioritize risks when resources are limited?

Focus on risks with the highest likelihood and most severe impact. Use a risk matrix to categorize and rank threats based on these factors. Consider quick, cost-effective fixes like patching software or enforcing password policies. For more complex risks, address critical issues first while monitoring lower-priority vulnerabilities.

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.