Asset Inventory Management

5 minutes 5 Questions

Asset Inventory Management refers to the process of identifying, organizing, and managing an organization's assets, including hardware, software, and data assets. This is a crucial part of Asset Security, as it allows organizations to effectively allocate resources, identify vulnerabilities, and prioritize efforts to protect their most critical assets. A comprehensive asset inventory should include information about each asset's type, location, owner, and value, as well as any interdependencies or risks associated with it. Proper asset inventory management ensures that organizations can efficiently allocate resources to protect and maintain their assets while minimizing the risk of unauthorized access or loss.

Guide to Asset Inventory Management

What is Asset Inventory Management?
Asset Inventory Management is a systematic approach to developing, operating, maintaining, upgrading, and disposing of assets cost-effectively. It forms a crucial part of a comprehensive IT asset management system.

Why is it important?
Managing the assets of an organization effectively reduces costs, decreases risks, improves return on investment, and supports strategic decision making. It enables organizations to identify which assets are repeat offenders and which are underutilized.

How it works?
Asset Inventory Management process consists of maintaining a list of every item that an organization owns. This can include physical or digital products, hardware, software, buildings, resources, etc. Regular audits are conducted to ensure that all listed assets are physically present and in its correct location. Assets are also actively managed throughout their lifecycle.

Exam-related Tips:
Answering Questions on Asset Inventory Management in an exam
- Understand the basics: Knowing what asset inventory is and how it functions is key.
- Practice: Regularly answer practice questions on this topic to improve.
- Read widely: Make sure to read around the topic, to familiarize yourself with different aspects.
- Be concise: Try to offer concise, relevant answers without unnecessary detail.
- Take your time: Try not to rush, as you may miss important details in the question.
- Make use of real-world scenarios which will help provide practical understanding and better answers.

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Question 1

A large organization conducts a yearly review of their Asset Inventory Management program. The review indicates a significant number of deprecated assets listed in the inventory. As a CISSP, which action should be prioritized?

Immediately destroy deprecated assets without documentation Donate deprecated assets to employees Develop a disposal and decommissioning process for deprecated assets Maintain the deprecated assets for future use

Correct Answer: Develop a disposal and decommissioning process for deprecated assets

Implementing a disposal and decommissioning process ensures that deprecated assets are securely and responsibly removed from the inventory. Maintaining, destroying, donating, storing, or selling deprecated assets may not adhere to security best practices, data privacy regulations, or environmental considerations.

Question 2

A company recently experienced a security breach, exposing sensitive asset inventory information and affecting their Asset Inventory Management process. As a CISSP, which of the following measures would you recommend to prevent future security breaches?

Reduce network bandwidth Disable all user accounts Replace physical security systems Implement a Data Loss Prevention (DLP) solution

Correct Answer: Implement a Data Loss Prevention (DLP) solution

A DLP solution helps prevent sensitive data from being leaked outside the company. Disabling user accounts, reducing network bandwidth, and replacing physical security systems might not prevent data breaches. Removing external-facing assets and ignoring the issue can lead to more security vulnerabilities.

Question 3

Company X is conducting a hardware audit to maintain an accurate and up-to-date asset inventory. During the audit, they discovered several unidentified devices on the network. As a CISSP, what would be the recommended next step?

Investigate the unidentified devices and update the asset inventory accordingly Disconnect the unidentified devices without any investigation Ignore the unidentified devices Replace all networking equipment

Correct Answer: Investigate the unidentified devices and update the asset inventory accordingly

Investigating the devices and updating the asset inventory ensures that the company is aware of all assets and is essential for effective Asset Inventory Management. Ignoring the devices, disconnecting them without investigation, replacing equipment, reporting to law enforcement, or assuming ownership might not provide accurate information about the devices.

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