Abstract
Increase in emphasis on risk management allows for better enterprise IT risk management. Early risk identification and assessment ensures effective risk management steps are formulated. The formulation and sustenance of an IT risk management framework is one of the critical and challenging tasks of modern corporate enterprise risk management. The existence of a risk assessment tool allows for effective risk measurement. This paper presents an enterprise level IT risk assessment framework and a tool that is based on the framework which organizes IT risks into five categories: infrastructure development and support, operations and maintenance of business process, office level support, software development and outsourcing management. The approach helps assess and identify IT risks at the enterprise level.