Free Risk Assessment Template
Multi-framework template with 5×5 scoring matrices, 25 pre-populated example risks, and treatment plans for SOC 2, ISO 27001, HIPAA, PCI DSS, and CMMC.
Everything you need to build a risk management program that satisfies auditors and strengthens your security posture.
Why Risk Assessment Matters
Risk assessment is the foundation of every compliance program. Without a structured approach to identifying, evaluating, and treating risks, organizations are left guessing at where their biggest vulnerabilities lie—and auditors will notice.
- Required by every major framework—SOC 2, ISO 27001, HIPAA, PCI DSS, and CMMC all mandate formal risk assessments
- Identifies gaps before auditors do—proactively discover control weaknesses and address them on your own timeline
- Demonstrates due diligence—shows regulators, customers, and partners that you take security seriously with a documented process
- Prioritizes security investments—allocate budget and resources to the risks that matter most based on objective scoring
Risk Assessment Methodology
A structured six-step process for identifying, scoring, and treating information security risks.
Asset Identification
Identify information assets, assign owners, determine value based on CIA impact
Threat Identification
Identify threats from natural, human, technical, and supply chain sources
Vulnerability Identification
Identify technical, administrative, and physical vulnerabilities
Likelihood & Impact Scoring
Score each risk using 5x5 likelihood and impact scales
Risk Evaluation
Compare risk scores against acceptance criteria and prioritize treatment
Treatment Selection
Choose to mitigate, accept, avoid, or transfer each risk above threshold
What Security Leaders Say About Information Security
Building an ISMS isn't just about compliance—it's about creating a culture of security. Here's what industry leaders have to say.
“Security is a process, not a product.”
Bruce Schneier
Security Technologist and Author
Secrets & Lies: Digital Security in a Networked World
“It takes 20 years to build a reputation and few minutes of cyber-incident to ruin it.”
Stephane Nappo
Global CISO, Groupe SEB
Widely cited industry quote
“There are only two types of companies: those that have been hacked and those that will be.”
Robert Mueller
Former Director, FBI (2001–2013)
RSA Cyber Security Conference, 2012
“Cyber crime is the greatest threat to every profession, every industry, every company in the world.”
Ginni Rometty
Former Chairman & CEO, IBM
IBM Security Summit, 2015
“The question to ask when you look at security is not whether this makes us safer, but whether it’s worth the trade-off.”
Bruce Schneier
Security Technologist, Harvard Berkman Klein Center Fellow
Beyond Fear: Thinking Sensibly About Security in an Uncertain World (2003)
Framework-Specific Appendices
One risk assessment, five framework mappings. Each appendix maps your risks to framework-specific controls so you can satisfy multiple compliance requirements.
Trust Services Criteria mapping
Annex A controls mapping
Security Rule safeguards mapping
CDE-scoped requirements mapping
NIST 800-171 practice mapping
Example Risk Register Preview
See how risks are documented, scored, and tracked in the template.
| Risk ID | Asset | Threat | Vulnerability | L | I | Score | Level | Treatment |
|---|---|---|---|---|---|---|---|---|
| R-001 | Customer Database | Unauthorized access | Shared admin credentials | 4 | 5 | 20 | Critical | Mitigate |
| R-007 | Employee Laptops | Ransomware | Outdated endpoint protection | 3 | 4 | 12 | High | Mitigate |
| R-015 | SaaS Vendor (Payroll) | Vendor data breach | No vendor security assessment | 2 | 4 | 8 | Medium | Mitigate |
| R-022 | Office Network | Power outage | No UPS on network equipment | 2 | 2 | 4 | Low | Accept |
The full template includes 25 pre-populated example risks across 5 categories.
5×5 Risk Scoring Matrix
Likelihood × Impact scoring to objectively prioritize risks.
Ready to Build Your Risk Management Program?
Download the template, customize it for your organization, and start managing risks with confidence.
Frequently Asked Questions
Need Help Building Your Risk Management Program?
A template is a great start, but building a mature risk management program requires expertise. Our vCISO team helps you go from documentation to audit-ready compliance.
Related Resources
Tools, templates, and articles for Compliance compliance
Cost Calculator
SOC 2 Cost Calculator
Estimate your SOC 2 compliance costs based on company size, current posture, and timeline.
Identity Security
Non-Human Identity Security: Your Access Review Covers 1% of Your Identities
Machine identities outnumber humans 100:1, OWASP ranks improper offboarding as the top non-human identity risk, and only 21% of organizations have a process to decommission an AI agent. How to extend the access review you already built.
Audit Preparation
What Auditors Actually Ask About AI in a SOC 2 or ISO 27001
There is no AI module for SOC 2. The same criteria now point at systems that did not exist when you wrote your controls. The six AI questions assessors ask and the evidence that answers them.