Asset Management ISO 27001

The asset management system ISO 27001 is a set of internationally recognised standards for managing information and data. It is designed to help organisations keep their information and data safe and secure. Asset management is identifying, tracking, and maintaining assets such as buildings, equipment, and land. It is a critical function for any organisation that owns or operates physical assets. Asset management helps organisations optimise their assets performance, minimise downtime, and reduce operating costs.

Why is Asset Management Critical?

• Asset management is essential because it helps organisations make the most efficient use of their resources. It also helps minimise risk by ensuring that assets are well-maintained and fit for purpose.
• Effective asset management can also help organisations improve their environmental performance by reducing waste and maximising the life cycle of their assets.
• Asset management can help organisations save money. When assets are well-managed, they last longer and require less maintenance. Over time, this may result in considerable cost reductions.
• Organisations can identify opportunities to improve efficiency by tracking assets and their utilisation. For example, an organisation may realise that it can reduce the time needed to complete a task using a different asset type.
• Asset management provides greater visibility into an organisation's assets, which can be used to improve decision-making and accountability.

Asset Management Practices For ISO 27001 Certification

According to ISO 27001, asset management is the "act of controlling, handling, using, and maintaining the organisation's assets." The standard goes on to say that these assets could be "tangible or intangible, and includes such things as buildings, cash, information, people, and reputation."
So, how can an organisation ensure that its asset management practices are up to par? In this blog post, we'll explore some best practices for ISO 27001 certification.

1. Implement an Asset Management Policy

The first step in implementing an effective asset management system is to develop a comprehensive policy. This policy should outline the organisation's approach to asset management and its specific procedures and protocols. The policy should be reviewed and updated regularly to remain relevant and practical.

2. Identify Assets and Categorise Them Appropriately

The next step is to identify all of the organisation's tangible and intangible assets. Once all assets have been identified, they should be categorised into different risk categories. This will help the organisation prioritise its efforts and focus on protecting the most valuable assets first.

3. Implement Appropriate Controls for Each Risk Category

Once assets have been categorised, appropriate controls must be put in place for each risk category. These controls might include physical security, access, or even cyber security measures. The goal is to ensure that all assets are adequately protected from theft, damage, or loss.

4. Monitor and Review Assets

Do not forget to monitor your investments regularly and review them according to how they are developing and what features they possess. In this way, you can quickly make new changes, referred to as ''collateral development'', and improve the existing content and its performance by adding some form of interactivity or creating graphics. Monitoring the performance of these assets will give you valuable deeper insights into what works best for your marketing approach but also allow you to utilise these more efficiently since if individuals love the asset, it means that whatever purpose it serves becomes a success.

How to Create an ISO 27001 Asset Management Policy?

1. Establish the Purpose of the Policy

The first step in creating an asset management policy is to establish the purpose. What is the organisation trying to achieve with this policy? The answer to this question will help determine the scope and content of the policy. For example, some organisations may want to use their asset management policy to protect their assets from unauthorised access or theft. Others may want to ensure that their assets are used in a way that complies with regulatory requirements. Still, others may want to create an asset management policy as part of a larger security strategy. The organisation's goals should be clearly defined before writing the policy.

2 Define Key Terms

The next step in creating an asset management policy is to define critical terms. What are considered "assets" for this policy? And what does it mean for an asset to be "secure"? These important questions need to be answered before drafting the rest of the policy.

3 Mention the Responsibilities of the Asset Management Team

The primary responsibility of an asset management team is to ensure that the organisation's assets are being used most efficiently and effectively. To do this, they must have a deep understanding of the organisation's business goals and objectives. They use this knowledge to develop and implement strategies for managing the assets throughout their life cycle.

4. Create an Asset Inventory

To correctly manage your assets, you must first create an inventory of all your assets. This will help you keep track of your assets and ensure they are all in good condition. To create an inventory of your assets, you will need to compile a list of all the support you have and their location and value. You can use a spreadsheet or other software to help you keep track of your assets. Once you have created your inventory, you should review it regularly to ensure it is up-to-date.

5. Commitment Towards Asset Management

A practical commitment requires a clear understanding of the value of assets created for an organisation and the costs associated with their life cycle. Furthermore, it necessitates the development of policies, processes, and systems to ensure that assets are managed in a way that meets the organisation's strategic goals.

6. Asset Performance Evaluation

Evaluating the performance of assets is a critical part of any asset management policy. By understanding how well an investment performs, asset managers can make informed decisions about how to maintain the best and use the asset.
7. Asset Register- An asset register lists all the assets owned by a business or individual. It includes information on the value, location, and type of asset. An asset register can be used to track and manage assets and be a valuable tool in financial planning.