1. A method for information technology (IT) and information asset risk assessment of a business relationship between a client and a third party, the method comprising: establishing a database having a plurality of IT information risk factors, the database configured to receive IT risk information associated with the plurality of IT information risk factors, the plurality of IT information risk factors including a subset of relationship risk factors for evaluating the business relationship risk between the client and the third party; receiving IT risk information corresponding to the subset of relationship risk factors; generating a relationship risk score in response to evaluating the subset of relationship risk factors based upon the IT risk information corresponding to the subset of relationship risk factors; and monitoring the database for updated IT risk information for revising the relationship risk score to reflect evaluation of the subset of relationship risk factors with the updated IT risk information.