The attached Asset Management Policy is designed to enhance asset management practices by providing a structured framework that safeguards business investments and ensures operational efficiency. Its purpose is to help organizations maintain control over their assets, optimize resource utilization and support compliance with internal policies, ultimately contributing to profitability and risk reduction. By leveraging the standards within this tool, companies can systematically manage both IT and physical assets throughout their lifecycle without compromising sensitive operational details.

This document includes two samples. Sample 1 focuses on maximizing returns by efficiently managing fixed, long-term assets and working capital, emphasizing investment justification, asset utilization monitoring and stringent controls over inventory and receivables. Sample 2 provides comprehensive requirements for securely handling IT assets, including maintaining detailed inventories, authorizing acquisitions, ensuring proper maintenance and disposal, and managing software licenses. It also incorporates the use of a configuration management database to support secure asset configuration and change management. Each sample offers tailored strategies and responsibilities to address specific asset management needs within different organizational contexts.

Sample procedures include:

• Assets should be added only where they can be expected to provide a justifiable return on investment; obsolete or surplus equipment should be disposed of as quickly as possible to return cash value to the company.
• Appropriate systems must be established and maintained in each organization to monitor the utilization and productivity of existing plants and equipment so that utilization can be optimized and idle or underutilized assets can be identified.
• All physical IT assets should be registered and maintained in an asset management inventory.
• IT assets must be acquired from authorized asset providers and implemented in accordance with existing policies and manuals.