Templates
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 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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Learn more
or Download template as 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 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

The IT security risk assessment template helps you systematically identify, evaluate, and prioritize cybersecurity threats to your information systems. Unlike generic security checklists, this template follows the NIST framework with structured sections for asset identification, vulnerability analysis, and risk prioritization. You can document specific vulnerabilities, assign risk levels based on impact and likelihood, and create targeted action plans.

When a healthcare organization used this approach, they discovered previously unidentified vulnerabilities in their remote access systems that could have led to a data breach—addressing them before any incident occurred. According to the IBM Cost of Data Breach Report, organizations with formal risk assessment processes experienced breach costs 35% lower than those without such processes .

Related categories

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

What makes this IT security risk assessment template different from other security checklists?

Unlike basic security checklists, this template follows established frameworks like NIST, focusing on systematic risk identification and prioritization. It guides you through asset inventory, vulnerability analysis, threat assessment, and risk calculation with customizable scoring matrices. The template also includes sections for documenting mitigation plans with clear ownership and timelines for accountability.

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 often should I conduct an IT security risk assessment using this template?

You should conduct comprehensive assessments at least annually and after significant changes to your IT environment, such as new system implementations or business processes. Additionally, perform targeted assessments quarterly for critical systems or when facing emerging threats. Regular assessments help maintain an accurate view of your evolving risk landscape and ensure security controls remain effective.

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.