IT Risk Management Checklist

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Website: {{website}}

Document Information

**Document Title:** IT Risk Management Checklist

**Document Version:** {{version_number}}

**Date Created:** {{creation_date}}

**Last Reviewed:** {{last_reviewed_date}}

**Prepared By:** {{preparer_name}}

**Approved By:** {{approver_name}}

Introduction and Purpose

This IT Risk Management Checklist is designed to facilitate a structured approach to identifying, assessing, and mitigating information technology risks within {{company_name}}. The purpose is to safeguard company assets, ensure business continuity, and comply with relevant regulatory requirements.

This checklist should be completed on a {{frequency_of_review}} basis, or when significant changes occur in the IT environment.

Risk Identification

**Instructions:** Identify potential risks across various IT domains. For each identified risk, briefly describe its nature.

**Domain: Network Security**

- Risk 1: {{network_security_risk_1_description}}

- Risk 2: {{network_security_risk_2_description}}

**Domain: Data Security and Privacy**

- Risk 1: {{data_security_risk_1_description}}

- Risk 2: {{data_security_risk_2_description}}

**Domain: System Availability and Performance**

- Risk 1: {{system_availability_risk_1_description}}

- Risk 2: {{system_availability_risk_2_description}}

**Domain: Application Security**

- Risk 1: {{application_security_risk_1_description}}

- Risk 2: {{application_security_risk_2_description}}

**Domain: Third-Party/Vendor Risk**

- Risk 1: {{third_party_risk_1_description}}

- Risk 2: {{third_party_risk_2_description}}

**Domain: Compliance and Regulatory**

- Risk 1: {{compliance_risk_1_description}}

- Risk 2: {{compliance_risk_2_description}}

Risk Assessment (Likelihood and Impact)

**Instructions:** For each identified risk, assess its likelihood of occurrence and potential impact on the business. Use a scoring system (e.g., Low, Medium, High).

**Risk 1 (from Identification):** {{identified_risk_1_name}}

- Likelihood: {{risk_1_likelihood}}

- Impact: {{risk_1_impact}}

- Overall Risk Rating: {{risk_1_overall_rating}}

**Risk 2 (from Identification):** {{identified_risk_2_name}}

- Likelihood: {{risk_2_likelihood}}

- Impact: {{risk_2_impact}}

- Overall Risk Rating: {{risk_2_overall_rating}}

(Add more rows as needed for each identified risk)

Risk Mitigation and Control Measures

**Instructions:** Detail the existing or proposed control measures to mitigate each identified risk. Assign a responsible party and a target completion date.

**Risk 1 (from Identification):** {{identified_risk_1_name}}

- Mitigation Strategy: {{risk_1_mitigation_strategy}}

- Control Measures: {{risk_1_control_measures}}

- Responsible Party: {{risk_1_responsible_party}}

- Target Completion Date: {{risk_1_target_completion_date}}

**Risk 2 (from Identification):** {{identified_risk_2_name}}

- Mitigation Strategy: {{risk_2_mitigation_strategy}}

- Control Measures: {{risk_2_control_measures}}

- Responsible Party: {{risk_2_responsible_party}}

- Target Completion Date: {{risk_2_target_completion_date}}

(Add more rows as needed for each identified risk)

Risk Monitoring and Review

**Instructions:** Outline the process for ongoing monitoring and regular review of IT risks and their associated controls.

- Monitoring Frequency: {{monitoring_frequency}}

- Review Frequency: {{review_frequency}}

- Reviewer(s): {{reviewer_names}}

- Reporting Mechanism: {{reporting_mechanism}}

Incident Response Plan Integration

**Instructions:** Confirm integration with the company's Incident Response Plan (IRP).

- Is an IRP in place? (Yes/No): {{irp_in_place}}

- Are IT risks regularly fed into the IRP update process? (Yes/No): {{risks_fed_into_irp}}

- Date of last IRP review: {{last_irp_review_date}}

Compliance and Legal Considerations

**Instructions:** Confirm adherence to relevant data protection and cybersecurity regulations in Southern Africa.

- POPIA (South Africa) Compliant? (Yes/No): {{popia_compliant}}

- Relevant industry standards (e.g., ISO 27001) considered? (Yes/No): {{iso_standards_considered}}

- Any other regional data privacy acts considered? (Specify): {{other_data_privacy_acts}}

Appendices

Appendix A: IT Asset Register (Refer to separate document)

Appendix B: Glossary of Terms

Signature Block

**Approved by:**

___________________________

{{approver_name}}

{{approver_title}}

Date: {{approval_date}}

**Reviewed by:**

___________________________

{{reviewer_name}}

{{reviewer_title}}

Date: {{review_date}}