Section 1: Asset Identification
This section involves identifying all assets within the organization or project scope. It is a critical step in asset management as it provides a comprehensive list of assets to be managed. The process starts with gathering information from various sources such as organizational charts, inventory records, and equipment maintenance files. The identified assets are then categorized based on their type, location, and ownership. This categorization helps in determining the level of control required for each asset, which is essential for effective risk management and decision-making. A thorough asset identification process ensures that all assets are accounted for and managed properly, reducing the likelihood of losses due to mismanagement or lack of awareness.