Like so many other types of IT management policies,
including data security
and email, asset management
policies are used to protect business assets and interests. 
Technology devices and software are certainly assets — and
they are certainly expensive, valuable and worthy of “protection” —
from failure, loss, destruction, theft, damage and related harm. 
Read on to learn the role that policy plays in protecting
these assets and related business interests.

Where is that laptop?  Who has that printer?  Do we
have sufficient software licenses for every user?  These are
the types of questions IT asset management is meant to answer.  As an
operational practice, IT asset management serves multiple purposes,
as reflected in the list below:

1. Asset management practices are used to minimize the risk
   that investments made in technology (hardware, software and
   training) will be lost due to theft, destruction or other
   damage.
2. Asset management practices are used to ensure that
   technology assets are properly allocated to end-users to
   optimize usage and workplace productivity.
3. Asset management practices are used to simplify technical support and
   maintenance requirements.
4. Asset management practices are used to lower IT “cost of
   ownership” and maximize IT ROI.
5. Asset management practices are used to ensure that software licensing is in full
   compliance, minimizing the risk of legal and regulatory
   problems.
6. Asset management practices are used to support “sister” policies for disaster recovery, email usage, data
   security, and technology standards.

The Role of Asset Management Policy

Asset management practices define the actions to be taken to
protect and preserve technology assets – from physical locks on
equipment to inventory tags. In conjunction, policy
provides the “asset management mindset“.
This mindset acknowledges that”technology assets are
important to us and we take them seriously enough to put up with
protective controls“. To realize all of the intended benefits,
this mindset must be integrated into daily operations and
the corporate culture — and this is achieved through
adopted policy.

Once approved, asset management policies provide the
governing authority
to implement all aspects of the asset management program. 
While policy terms and specifics will vary according to
organizational needs, the most effective policies are designed
around (13) key components, as listed below:

1. Asset Standards. To identify the specific hardware and
   software products (assets) to be used and supported.
2. Configuration Standards. To identify how
   standardized hardware
   and software assets are to be configured.
3. Variance Process. To establish the
   criteria and means by which product and configuration standards
   can (and should) be waived.
4. Support of “Non- Standard” Assets. To establish
   the services that will IT provide for non-standard products and
   configurations.
5. BYOD
   Guidelines. To establish the means for supporting
   “Bring Your Own” devices (tablets, phones, notebooks, laptops).
6. Asset Procurement
   Guidelines. To identify the policies
   and procedures relating to the acquisition, procurement and/or
   rental of technology assets.
7. Security
   Guidelines.  To identify how physical
   and logical security will be provided for hardware and software
   assets (locks, passwords,
   virus protection, etc.).
8. Software Licensing Guidelines.  To keep track of asset licensing, ensuring compliance with all
   relevant agreements, laws and regulations.
9. Technical Support and Maintenance Practices. To identify the processes to be followed for
   asset related
   technical support, repair, service dispatch, preventative maintenance,
   and problem escalation.
10. Configuration Management
    Guidelines. To identify related practices for asset
    configuration management and change control to ensure consistent,
    updated configuration and timely updates as may be required.
11. Asset Inventory Practices. To keep track of the location
    and assignment
    of all allocated technology assets (hardware and software),
    including related recordkeeping.
12. Asset M.A.C.
    Practices. To govern requests and activities
    relating to physical moves, adds and changes (M.A.C.) with
    regard to allocated hardware and software assets.
13. Asset Disposal
    Guidelines. To identify the processes
    to be followed when hardware and software assets are no longer
    in use and disposal is appropriate (which can include a donation
    program).

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Your Top 10 Policy Planning Questions

As discussed, once they are documented, established (and approved),
asset management policies provide the means to “institutionalize”
underlying objectives. Policy is a tool by which
related practices are implemented and executed, laying out
the “what, how and why” of IT asset management.  Not only does
policy provide the means for governance, it also provides the basis
for related planning and decision making.  To realize all of
these goals and benefits, policy planning must address the following
“top 10” planning questions:

1. What are your primary asset management goals?
2. What are the likely benefits to be realized from the
   standardized management of IT assets?
3. What are the negative aspects and/or risks associated with
   IT asset management?
4. Is executive management support required to plan and
   implement these practices?
5. If executive management support is required, are you likely to
   get it?
6. How would any chosen policies and procedures be implemented and
   executed?
7. Do you have the resources to plan, implement, and execute any
   chosen policies and procedures?
8. What are the likely costs associated with managing
   information technology assets?
9. What are the likely objections to adopted asset management
   practices and how can they be addressed?
10. What are the consequences of inaction with regard to
    managing IT assets?

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