This is an example risk assessment that lists the key cloud computing risks for you. It makes preparing your own much easier than starting from a blank page.
This example risk assessment has been prepared using the
F-Q36 General Risk Assessment form template - a purpose-built template designed to focus entirely on what matters: identifying business risks, assessing their likelihood and impact, and recording the controls that manage them, without any unnecessary fields getting in the way.
The file is supplied in fully editable MS Word format and can be easily customised and saved to Google Docs format if required. The document uses pre-defined style formatting throughout with styles to match the risk-ratings which are input using select boxes pre-populated with all possible risk ratings. All text is in Calibri font for improved readability.
The following document labelling is included in the footer:
- Form number and title
- Information-classification
- Version
- Page number / total pages
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Cloud Computing Business Risk Assessment
This fully completed cloud computing business risk assessment example has been prepared by experienced ISO management system consultants. It covers the main areas where cloud risk arises, including service configuration, account access, data confidentiality and location, reliance on the cloud provider, availability and backup, and the use of unapproved services. It can be used as a starting point when developing your own business risk assessment documentation.
What Does This Cloud Computing Business Risk Assessment Cover?
This risk assessment identifies the key cloud computing risks an organisation faces, including:
- Misconfiguration of cloud storage, applications and infrastructure
- Account compromise and weak access control
- Data confidentiality and uncertainty over where data is held
- Reliance on the cloud provider under the shared-responsibility model
- Service availability, outages and loss of access
- Data loss and the need for independent backups
- Insecure interfaces and integrations between services
- Shadow IT and the use of unapproved cloud services
- Vendor lock-in and the need for an exit plan
A residual risk rating is then assigned to each risk, demonstrating how effective controls - such as secure configuration, multi-factor authentication, encryption, supplier assurance and tested backups - reduce the overall risk to a tolerable level.
A Professional Easy-to-Use Risk Assessment Template
This document uses colour-coded header styles matched to risk ratings, making it quick to read and easy to communicate during team briefings and staff training. A built-in risk rating matrix supports consistent evaluation of likelihood and consequence, and clear risk symbols help communicate each risk at a glance. An inherent and a residual rating are recorded for every risk, so the effect of your controls is easy to demonstrate.
Risk, Control and Prohibition Symbols
Each row in the assessment is tagged with a small symbol so the type of risk, the control that manages it and any prohibition are clear at a glance. The same icon set runs across every alphaZ business risk assessment, which keeps a finished document quick to read and easy to compare. You can read more about them in our blog post on the alphaZ business risk icons.
Who Is This Cloud Computing Business Risk Assessment Template Suitable For?
This template is suitable for organisations of any size that rely on cloud storage, online applications or hosted infrastructure and need to identify, assess and document the associated risks. It is particularly useful when implementing or maintaining an information security management system aligned with ISO 27001, and when supporting the risks and opportunities requirements (clause 6.1) of ISO management system standards. Directors, IT and security leads and management system managers can all use it as a practical, ready-made starting point.