The rise in interconnectivity in the last few years has made computer systems and networks more vulnerable to threats as they are accessed by an ever increasing number of users. Nowadays organizations are lacking proper security measures and means to calculate risk assessment for their assets. Legacy systems in organizations are facing different kind of risks like viruses, bugs and system failure causing damages to hardware and software resulting in data loss. The ultimate challenge in many organizations is to assess their risk factors for their computers and networks. There is no way to completely overcome the threat that an organization might have. The goal is to calculate risks, so that problems resulting from them could be minimized and to fill the gap between business entities (like a project, a role) and organization infrastructure using Semantic Web technologies. SemanticLIFE is a Personal Information Management System which gathers the user interaction events and correlates those by using ontologies. In this paper the ontology-based risk assessment in the context of the organizational security, a fundamental issue for planners and decision makers in the IT field, is explored using SemanticLIFE tool.