How to Build an IT Asset Management Plan

How to Build an IT Asset Management Plan

How you can best manage your data and assets in a time where information security threats are everywhere? What is asset management and where do you start with it? Let’s start with a basic definition. Asset management is properly defining and categorizing an organization’s assets. A well-developed asset management plan can help you make strategic moves to increase your organizational security. With any plan for IT asset management in place, you should have established processes for receiving and transferring assets, migrating virtual systems, detecting and responding to incidents, continuous monitoring, and applying patches and updates to address vulnerabilities.

How Can You Benefit from an IT Asset Management Plan?

NIST Special Publication 1800-5 on IT asset management explains the benefits of a thorough asset management plan in six parts:

  1. Proper asset management increases the ability for your organization to respond to security alerts quickly as the location, configuration, and owner of various devices can be accessed quickly.
  2. Your organization can turn its focus to the most valuable assets and therefore increase cybersecurity resilience.
  3. When you conduct an audit, auditors will have detailed information about your systems because of well-managed assets.
  4. It helps to better define your budget as you can determine which software license are actually utilized and which you pay for, but do not use.
  5. Your employees will be able to use your asset management plan to know what is installed and any alerts or errors that might come up, so that you can minimize help desk response times.
  6. Any patching that needs to be done on your software can be done correctly and reduce attack surfaces of devices with a well-developed IT asset management structure.

These benefits arise from a well-developed asset management plan that follows guidelines set up by publications such as NIST. When you face the difficulty of IT asset management, you might find yourself looking for guidance on how to responsibly track the status and configurations of your assets. That’s why we, at KirkpatrickPrice, have developed an outline of an asset management plan to get you started.



Risk-Based Approach to an Asset Management Plan

While your customized asset management plan will be tailored to your organization’s security needs, this tool can be helpful in giving you a path towards security compliance. Organizing and maintaining an asset inventory works as a foundation for a through information security program. You can organize your asset inventory in many different ways: individually, systematically, or through portfolios. Every organization will define their assets according to their needs, but it is recommended that the selection process be based upon risk. At what risk level is each asset? By classifying and analyzing assets according to what critical risk stage they’re in, you can help measure the effectiveness of your security strategies.

If you’re serious about implementing information security practices, you need to be mindful of the importance of proper asset management. Don’t let undetected vulnerabilities and mismanaged risks be the problems that plague your information security plan. Instead, use asset management tools and perform regular penetration testing to protect your valuable assets. Contact KirkpatrickPrice today to learn how we can help you achieve your information security goals!

More Resources

How Can Penetration Testing Protect Your Assets?

Why Bother With An Information Security Program?

What Should You Really Be Penetration Testing?