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A Complete Guide on How to Assess Risk and Run Contingency for your IT Infrastructure Needs. A Complete guide on How To Assess risk and run contingency plans in place helps run the organization smoothly. The nine steps to a successful IT risk assessment include: Step 1: Name Your IT Assets. Name an IT asset. Name your IT assets. Name the IT assets list. IT assets are an essential component of an organization’s IT system and network infrastructure. It is recommended to conduct an assessment at least once a year. It ensures that new vulnerabilities are not added to the system.