Score risks by likelihood and impact. Document mitigations. Track what's open. Your auditor gets a formal risk assessment — you get it done in an afternoon.
A consultant gave you a 50-row risk assessment template and every risk owner is your name.
The auditor wants a "formal risk assessment process" and you're not sure what that means for a 3-person company.
You know the risks — unauthorized access, data breach, vendor failure — but you've never written them down formally.
A structured risk register with scoring, visualization, and review tracking — not a blank spreadsheet.
Likelihood × impact = risk score, with automatic risk level classification: low, medium, high, or critical.
Visual 5×5 grid showing where your risks land. Spot the critical ones at a glance and show auditors you understand your risk profile.
Document what controls are in place for each risk. Link mitigations to specific risks so nothing falls through the cracks.
Track when each risk was last reviewed and when it's due next. Keep your risk register alive instead of a one-and-done document.
Start with the common ones — unauthorized access, data breach, system outage, vendor failure. You don't need 50 risks. 15-30 well-documented ones are typical for a small company.
Rate each risk by likelihood and impact. Document what controls you already have in place. The tool calculates your risk score and level automatically.
The auditor sees a living risk register, not a one-time document. Track review dates so you can show an ongoing risk assessment process.
You have three options for your risk assessment. Here's how they compare.
| Consultant's Word Doc | Spreadsheet | Risk Register (Visimade) | |
|---|---|---|---|
| Price | $5,000 – $20,000+ | Free | Free |
| Risk scoring | Manual / inconsistent | DIY formulas | Automatic |
| Visual matrix | No | No | 5×5 grid, auto-generated |
| Review tracking | No | Manual dates | Built-in review cycle |
| Easy to update | Hire the consultant again | If you remember the formula | Edit inline, scores update |