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ISO 27005 A Complete Guide

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ISO 27005 A Complete Guide

You’re under pressure. Your organisation needs a risk assessment process that’s not just compliant, but strategic, defensible, and board-ready. Right now, you might be navigating conflicting frameworks, vague templates, or ad-hoc spreadsheets that leave you exposed to audit findings, project delays, and security incidents.

The cost of getting it wrong isn’t just financial-it’s reputational. And yet, most training oversimplifies ISO 27005 or buries you in theory with no path to implementation. You need a solution that transforms ambiguity into clarity, and compliance into competitive advantage.

ISO 27005 A Complete Guide is that solution. This is not another high-level overview. It’s your step-by-step blueprint to design, deploy, and document a risk assessment process that meets ISO 27005 to the letter, while delivering real business value in under 30 days.

One senior risk analyst used this course to overhaul her company’s outdated risk methodology. Within four weeks, she delivered an ISO 27005-aligned risk register that passed internal audit with zero findings-and earned recognition from the CISO for “finally making risk tangible to leadership.”

This course closes the gap between knowing the standard and activating it with confidence. You’ll gain not just knowledge, but authority-the kind that gets you listened to in cross-functional meetings and positions you as the go-to risk expert in your organisation.

Here’s how this course is structured to help you get there.



Course Format & Delivery Details

Self-Paced, On-Demand, and Built for Real Professionals

Designed for working professionals, not full-time students. You gain immediate online access the moment you enroll. No fixed start dates, no rigid schedules. Learn on your time, at your pace, from any device.

Most learners complete the course in 20–25 hours, with many applying the first risk assessment framework to their current project within the first week. The knowledge is structured for rapid implementation, not just theory retention.

Lifetime Access, Forever Up-to-Date

Your investment includes lifetime access to all course materials. As ISO standards evolve and new risk methodologies emerge, your access is automatically updated-at no extra cost.

Access 24/7 from any location, on any device. The platform is mobile-friendly, enabling you to review frameworks during travel, pull up templates in meetings, or reference guidance during risk workshops.

Expert-Led Guidance with Real-World Relevance

You’re not alone. Throughout the course, you receive structured guidance from professionals with 15+ years of experience in ISMS implementation, audit preparation, and enterprise risk governance. This is not abstract theory-it's the exact methodology used in Fortune 500 risk programs and ISO 27001 certifications.

You’ll also gain direct access to instructor-curated support resources, ensuring you can navigate complex scenarios with confidence. Whether you're aligning risk with business objectives or defending your methodology to auditors, you’ll have clear, authoritative direction.

Certificate of Completion by The Art of Service

Upon finishing, you earn a Certificate of Completion issued by The Art of Service, a globally recognised provider of professional training in cybersecurity, governance, and risk management.

This certificate verifies your mastery of ISO 27005 principles and practices, enhancing your credibility with employers, auditors, and internal stakeholders. It’s a career-advancing credential that signals precision, compliance, and execution capability.

No Hidden Fees. No Risk. No Excuses.

Pricing is straightforward-with no hidden fees. You pay once, gain lifetime access, and receive all future updates free. We accept Visa, Mastercard, and PayPal, making enrollment secure and frictionless.

If this course doesn’t deliver the clarity, structure, and professional confidence you expect, simply request a refund within 30 days. Our satisfied or refunded guarantee eliminates all risk.

Will This Work for Me?

Yes. Whether you’re a risk officer under pressure to standardise your methodology, an auditor needing to validate compliance, or an ISMS implementer building an ISMS from scratch-this course is built for your reality.

It works even if:
- You’ve never led a formal risk assessment before.
- Your team uses outdated or inconsistent risk approaches.
- You’re preparing for external certification and need auditable documentation.

Previous learners include security consultants, compliance managers, and GRC analysts across financial services, healthcare, and government-roles where precision and defensibility matter most.

After enrollment, you’ll receive a confirmation email. Your course access details will follow separately once your materials are prepared, ensuring a smooth and reliable onboarding experience.



Module 1: Foundations of ISO 27005 and Information Security Risk Management

  • Understanding the role of ISO 27005 within the ISO 27000 family
  • How ISO 27005 supports ISO 27001 implementation and certification
  • Defining information security risk: terminology and core concepts
  • The purpose and scope of a formal risk assessment process
  • Differentiating between risk assessment, risk analysis, and risk evaluation
  • Key stakeholders in the risk management lifecycle
  • The importance of context in risk identification
  • Establishing the risk assessment framework: governance and ownership
  • Building a risk-aware organisational culture
  • Leveraging ISO 27005 to support executive decision-making


Module 2: Risk Management Policies and Organisational Context

  • Developing a risk management policy aligned with ISO 27005
  • Defining the organisational context for risk: internal and external factors
  • Determining the scope and boundaries of information assets
  • Identifying legal, regulatory, and contractual requirements
  • Incorporating business objectives into risk criteria
  • Documenting risk appetite and tolerance levels
  • Setting risk assessment objectives and success criteria
  • Creating a risk communication strategy
  • Roles and responsibilities in risk management
  • Integrating risk policy into corporate governance


Module 3: Designing the Risk Assessment Framework

  • Steps to establish a repeatable and auditable risk assessment process
  • Selecting a risk methodology: qualitative, quantitative, or hybrid
  • Defining risk criteria consistently across the organisation
  • Setting thresholds for risk acceptance, mitigation, transfer, and avoidance
  • Developing a risk scale: likelihood and impact matrices
  • Customising risk scales for different business units
  • Aligning risk evaluation with business impact analysis
  • Creating risk statement templates and standardisation rules
  • Designing risk ownership and accountability structures
  • Determining assessment frequency and review cycles


Module 4: Asset Identification and Classification

  • Identifying critical information assets: data, systems, people, and facilities
  • Developing a comprehensive asset inventory
  • Classifying assets by confidentiality, integrity, and availability
  • Mapping asset ownership and custodianship
  • Linking assets to business processes and services
  • Using asset classification to prioritise risk efforts
  • Documenting asset interdependencies and system architecture
  • Handling intangible assets: reputation, intellectual property, and brand
  • Automating asset discovery and tracking
  • Maintaining asset classification over time


Module 5: Threat and Vulnerability Identification

  • Defining threats: natural, human, technical, and organisational
  • Using threat libraries and industry benchmarks (e.g. ENISA, NIST)
  • Identifying internal and external threat actors
  • Assessing threat capability, intent, and opportunity
  • Identifying vulnerabilities in systems, processes, and people
  • Using vulnerability scanning results in risk assessments
  • Mapping vulnerabilities to known weaknesses (e.g. CWE)
  • Analysing human factor risks: errors, sabotage, and social engineering
  • Identifying procedural and control weaknesses
  • Updating threat and vulnerability registers dynamically


Module 6: Risk Scenario Development

  • Constructing realistic risk scenarios from asset-threat-vulnerability combinations
  • Writing clear, actionable risk statements
  • Using scenario templates to ensure consistency
  • Validating risk scenarios with business and technical stakeholders
  • Ranking scenarios by plausibility and potential impact
  • Avoiding generic or theoretical risks
  • Incorporating supply chain and third-party risks
  • Linking scenarios to regulatory obligations
  • Documenting risk scenario assumptions and rationale
  • Using risk scenarios to drive control selection


Module 7: Risk Analysis Techniques

  • Applying qualitative risk analysis: expert judgment and scales
  • Conducting semi-quantitative analysis using numerical scores
  • Introduction to quantitative risk analysis: ALE, SLE, ARO
  • Using FAIR (Factor Analysis of Information Risk) in context
  • Selecting the right analysis method for your organisation
  • Documenting risk analysis assumptions and rationale
  • Handling uncertainty and data gaps in analysis
  • Using workshops and facilitation techniques
  • Validating risk analysis with cross-functional teams
  • Integrating risk analysis into project risk reviews


Module 8: Risk Evaluation and Prioritisation

  • Comparing analysis results against risk criteria
  • Determining which risks require treatment
  • Prioritising risks using criticality and urgency
  • Creating risk heat maps and visualisation dashboards
  • Using Pareto analysis to identify top risks
  • Presenting risk evaluation results to leadership
  • Handling risks that exceed tolerance levels
  • Documenting risk evaluation decisions
  • Maintaining an auditable risk evaluation trail
  • Using evaluation outcomes to inform budget and resource planning


Module 9: Risk Treatment Planning

  • Selecting risk treatment options: mitigate, accept, transfer, avoid, share
  • Developing risk treatment plans with clear actions
  • Assigning risk treatment owners and deadlines
  • Linking treatments to controls in ISO 27001 Annex A
  • Mapping treatments to existing security controls
  • Using risk treatments to justify security investments
  • Developing compensating controls for high-risk scenarios
  • Documenting risk acceptance with formal sign-off
  • Ensuring treatment plans are actionable and measurable
  • Maintaining a central risk treatment register


Module 10: Control Selection and Implementation

  • Selecting appropriate controls from ISO 27001 Annex A
  • Justifying control selection based on risk assessment outcomes
  • Developing control implementation plans
  • Defining control effectiveness metrics and KPIs
  • Integrating controls into change management processes
  • Documenting control ownership and monitoring responsibilities
  • Using control statements for audit readiness
  • Aligning control implementation with project timelines
  • Handling residual risk after control deployment
  • Reviewing control effectiveness post-implementation


Module 11: Risk Reporting and Communication

  • Designing risk reports for different audiences: board, management, auditors
  • Using dashboards to visualise risk trends and status
  • Reporting on risk treatment progress and timelines
  • Communicating emerging risks and threat intelligence
  • Creating a standard risk reporting template
  • Ensuring confidentiality and integrity in reporting
  • Using reports to inform strategic decisions
  • Integrating risk reporting into governance meetings
  • Documenting risk communications for compliance
  • Automating risk reporting using GRC tools


Module 12: Risk Monitoring and Review

  • Establishing continuous risk monitoring processes
  • Setting triggers for risk reassessment
  • Reviewing risk treatment effectiveness
  • Updating risk assessments based on incidents and audits
  • Monitoring changes in business context and threats
  • Integrating risk reviews into internal audit cycles
  • Using key risk indicators (KRIs) for early warnings
  • Conducting periodic risk maturity assessments
  • Reviewing risk ownership and accountability
  • Ensuring risk documentation remains current and accurate


Module 13: Integration with ISMS and Other Frameworks

  • Embedding ISO 27005 into your ISMS lifecycle
  • Aligning risk assessment with ISMS policies and objectives
  • Integrating risk outcomes into ISMS documentation
  • Using risk results to inform internal audits
  • Linking risk management to continual improvement (Clause 10)
  • Integrating with NIST CSF, COBIT, and ISO 31000
  • Harmonising risk processes across multiple standards
  • Using ISO 27005 to support cloud security and outsourcing
  • Connecting risk to business continuity planning
  • Aligning with enterprise risk management (ERM) functions


Module 14: Audit Readiness and Compliance Validation

  • Preparing risk documentation for external audits
  • Creating an audit trail for risk assessment decisions
  • Responding to auditor questions on methodology and assumptions
  • Demonstrating consistency with ISO 27005 requirements
  • Providing evidence of stakeholder involvement
  • Addressing non-conformities related to risk
  • Using audit findings to improve risk processes
  • Demonstrating alignment with ISO 27001 Clauses 6.1.2 and 8.2
  • Maintaining version control for risk documents
  • Proving risk awareness and executive oversight


Module 15: Practical Risk Assessment Workflows

  • Walkthrough of a full ISO 27005-compliant risk assessment
  • Step-by-step guide from scoping to reporting
  • Templates for risk identification meetings
  • Sample risk register with realistic scenarios
  • Building a risk treatment plan from scratch
  • Documenting risk acceptance with governance approval
  • Revising risk assessments after system changes
  • Handling third-party risk assessments
  • Conducting project-specific risk assessments
  • Using checklists to ensure completeness


Module 16: Tools, Templates, and Implementation Aids

  • Downloadable risk assessment templates (Word, Excel)
  • Pre-built risk matrices and scoring guides
  • Asset classification worksheet
  • Threat and vulnerability register template
  • Risk statement builder with examples
  • Risk treatment plan tracker
  • Risk reporting dashboard (Excel-based)
  • Stakeholder communication templates
  • Control mapping matrix (Annex A)
  • Checklist for ISO 27005 compliance verification
  • Guidance on using GRC platforms (e.g. RSA Archer, ServiceNow)
  • Instructions for customising templates to your organisation
  • Version control and document management tips
  • Integration with ticketing and ITSM systems
  • Automating data flows between risk and compliance tools


Module 17: Advanced Risk Scenarios and Special Cases

  • Assessing risks in cloud environments (IaaS, PaaS, SaaS)
  • Managing risks in multi-vendor and outsourcing arrangements
  • Assessing supply chain and third-party risks
  • Risk assessment for merger and acquisition scenarios
  • Handling data privacy and GDPR-related risks
  • Assessing risks in DevOps and CI/CD pipelines
  • Risk assessment for AI and machine learning systems
  • Managing risks during digital transformation projects
  • Assessing insider threat risks
  • Evaluating risks in remote and hybrid work environments
  • Conducting cyber risk assessments for OT and ICS
  • Assessing geopolitical and macroeconomic risks
  • Addressing reputational and brand-related risks
  • Dealing with zero-day vulnerabilities in risk planning
  • Incident-driven risk reassessments


Module 18: Certification Preparation and Career Advancement

  • Review of key ISO 27005 concepts for professional exams
  • How to articulate your risk methodology in interviews
  • Using your course project as a portfolio piece
  • Leveraging the Certificate of Completion for LinkedIn and resumes
  • Connecting ISO 27005 expertise to job roles: CISO, Risk Manager, Auditor
  • Positioning yourself as a risk authority in your organisation
  • Using certification to negotiate promotions or raises
  • Continuing professional development pathways
  • Joining professional risk communities and forums
  • Staying updated on changes to ISO standards
  • Building a personal brand in information security risk
  • Accessing alumni resources and practice networks
  • Next steps after course completion
  • How to mentor others using your ISO 27005 knowledge
  • Contributing to industry best practices
  • Preparing for future certifications (e.g. CRISC, CISSP)