To be effective, an overall asset management strategy should include information assets, software assets, and information technology equipment. In addition, the people employed by an organization, as well as the organization’s reputation, are also important assets not to be overlooked in an effective asset management strategy.
Important elements to consider when developing an asset management strategy are:
- Asset inventory (do you know what assets you have & where they are?)
- Asset responsibility/ownership (do you know who is responsible for each asset?)
- Asset importance (do you know how important each asset is in relation to other assets?)
- Asset protection (is each asset adequately protected according to how important it is?)
Asset Classification and especially Information Asset Classification is one of the most important requirements for any company as it allows the company to understand the value of its information assets and to allocate resources to protect them.
- Identifies Intellectual Property.
- Understands the value of the asset.
- Understands the potential costs associated with the protection of the information asset.
- Base the requirement for controls on the business value of the information asset.
- Understanding the business impact from loss of Confidentiality, Integrity and Availability of the Information Asset.