In this week’s readings you learned about how an organization assigns a value to its assets. This process is referred to as an Asset valuation and helps the organization determine the fair market value of an asset, which is one of the first priorities of risk management. The asset value can be determined from the asset replacement value or either what the asset provides to the organization or the cost to recover the asset. The value can also be determined using a combination of these values. Once an organization determines the fair market value of an asset, the organization then implements an Asset and inventory management system to monitor the assets it owns. The organization tracks items such as location, maintenance requirements, and performance until the item is no longer in service.
Are personnel or data assets more difficult to quantify? Explain your answer.
What’s the purpose of the business impact analysis? Is asset and inventory management important to conducting a business impact analysis? Why or why not?
Should an organization identify assets before performing vulnerability scans? Why or why not?