Asset Management

(OBJ 4.2)

Asset Management

• Systematic approach to governing and maximizing the value of items an entity is responsible for throughout the asset’s life cycle
  • Tangible Assets
    • Office buildings
    • Computers
    • Machinery
  • Intangible Assets
    • Intellectual property
    • Organization’s reputation
    • Goodwill
• Asset management guarantees the organization's assets are optimally utilized, delivering maximum value and security.

Assignment and Accounting of Assets

• Each asset assigned to a person or group, known as owners
• Process referred to as the allocation or assignment of ownership
  • Used to determine which asset belongs to whom or which department.
• Avoids ambiguity, aids troubleshooting, upgrades, and replacements of a given asset

Classification and Categorization

• Assets should be classified and categorized
• Classification based on criteria such as function and value
• Informs maintenance, replacement, or retirement decisions
• High-value assets may require stringent maintenance schedules
• Low-value assets may be considered for recycling or disposal
  • (near the end of its asset lifecycle)

Monitoring and Tracking of Assets

• Ensures proper accounting and optimal use of assets
  • Asset Monitoring
    • Maintaining an inventory with specifications, location, and assigned users of every single asset
    • Allow asset managers to maintain a well-maintained inventory that can help us understand which employee is using which laptop, its specific make and model, and when it was last serviced.
  • Asset Tracking
    • Goes beyond monitoring, involving the location, status, and condition of assets using specialized software and tracking technologies
    • Exmaple:
      • Asset tracking software could be used to determine the exact GPS location of a particular device at any given time.
  • Enumeration
    • Identifies and counts assets, especially in large organizations or during times of asset procurement or retirement
    • Involves the use of software and scanners, to determine which assets are connected to a given network, what type of software, or operating systems are being used by those assets, and the overall status, or health, of each asset.
    • Aids in maintaining an accurate inventory
    • Sometimes performed when an entire company is purchased.
• Proactive approach for risk management and resource optimization
  • Maintains accurate inventory
  • Detects unauthorized devices
  • Informs software update decisions
  • Addresses security vulnerabilities

Mobile Device Management (MDM)

• Manages and tracks mobile devices
  • Smartphones
  • Tablets
  • Laptops
  • Wearables
• Centralizes management, enforces corporate policies, ensures software uniformity, safeguards sensitive data
• Enables remote lock and wipe of lost devices, remote software updates, and consistent user experiences
• MDM's centralization boosts security by ensuring all devices comply with the latest standards and protocols
• Example:
  • If there is a new software update or a new application to be deployed, it can be remotely installed on all of your devices, using that same MDM.
• Administrators can also push out software patches, updates, and corporate applications to thousands of devices simultaneously, to ensure more timely updates in a consistent user experiences occurring across all of your management devices.
• Reduces risks associated with unsecured or outdated devices