The First Phase Of Risk Assessment – Asset Inventory
The First Phase Of Risk Assessment Is Understanding Your Assets
In information technology, an asset inventory is a comprehensive list of all hardware and software assets within an organization. The inventory may include the name of the asset, the type of asset, the make and model of the asset, the serial number of the asset, the address of the asset, the contact information for the asset, the owner of the asset, and the value of the asset. This is the first phase of risk assessment.
An inventory is the first phase of risk assessment. The purpose of the inventory is to identify all of the assets that are at risk and to assess the risk for each asset. The inventory should include both physical assets and information assets.
Physical assets are things like computers, laptops, tablets, smartphones, printers, photocopiers, furniture, office supplies, vehicles, and building. Information assets are things like software applications, data, user accounts, passwords, and licenses.
How The Inventory Should Be Laid Out
Inventories should include a description of each asset, the make and model of the asset, the serial number of the asset, the address of the asset, the contact information for the asset, the owner of the asset, and the value of the asset.
The value of the asset is important because it can help to determine the priority of the asset when it comes to risk assessment. Assets with a higher value are more important and should be given a higher priority than assets with a lower value.
It should also include a risk assessment for each asset. The risk assessment should include the likelihood of a security incident and the impact of a security incident.
The inventory is the first step in risk assessment, and it is important to keep it up-to-date. As new assets are added to the organisation or as the value of the assets changes, the inventory should be updated.
Asset Inventory and Risk Assessment
When creating or updating an asset inventory, it is important to include all physical and virtual assets. This includes devices, software, and data. But it also includes things that are not always so easy to quantify, such as brand value and intellectual property.
Risk assessment is an essential part of the asset inventory process. By identifying and quantifying potential risks, you can better understand and mitigate those risks.
Risk Assessment in Simple words includes:
- What would happen if the asset were lost or stolen?
- What would happen if the asset were damaged or destroyed?
- What would happen if the asset were not available for use?
- What would happen if the data were compromised?
- What are the potential consequences of a breach?
Once you have assessed the risks, you can put in place steps to mitigate them. This might include adding security measures to protect the asset, using backups to ensure data is not lost or developing a plan for continuity of operations in the event of an outage.
Risk assessment is an essential part of any organisation’s security plan. By understanding and mitigating the risks associated with your assets, you can help protect your organisation from potential harm.
Start Risk Assessment from External Attack surface
An organization’s attack surface is the sum total of all points of exposure that could be attacked. Attack surface management (ASM) is the proactive practice of maximizing the security of an organization’s attack surface while minimizing the risk of exploitation. A variety of techniques can be used to manage an organization’s attack surface, but the most important focus should be on identifying and understanding all points of exposure.
How ResilientX helps its customers to Identify vulnerabilities in their External Attack Surface
ResilientX Automated Security Testing Platform offers easy-to-use cybersecurity solutions to a variety of companies to solve the most common security issues and reduce their risk by 90%.
ResilientX Automated Security Testing Platform Includes:
- Attack Surface Management
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- External Network Vulnerability Detection
- Web Application Security Testing
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