Firms of Information Technology industry operate in a special environment. This environment is characterized by a set of general, global attributes, including dynamicity and instability in relatively short periods of time. The firms' inability to realize and manage the internal and environmental risks has resulted to many unfortunates, such as forced change of ownership, size, and bankruptcy of many. Meanwhile, risk management can be a very effective heal. Risk management helps organizations to achieve their vision with much less strategic faults, and create a systemic view of how risks and risk management hedging affect the organizations' performance. In strategic level, risk management will be in the form of Enterprise risk management. This paper concentrates on risk identification among different phases of risk management. The developed model measures the effect of enterprise risk categories on organization's financial performance via its intangible capital. Correlation and Structural Equation Modeling suggest that risk identification positively enhance the intangible assets of the organization. Besides, it confirms the positive effect of information capital on financial performance. According to the findings, some priorities are suggested for intangible capital effect on performance as well.