ASSET IDENTIFICATION & CLASSIFICATION-A CRITICAL COMPONENT OF CYBER RISK MANAGEMENT

The document provides a comprehensive guide to integrating asset management tools into cyber risk management processes, focusing on both commercial and open-source solutions. It emphasizes the critical importance of asset identification and classification in managing cyber risks effectively.

Key sections include:

1. Asset Management Tools:
   • Commercial Tools: IBM Maximo, ServiceNow, and BMC Helix are highlighted for their robust features in asset tracking, configuration management, and IT asset management.
   • Open-Source Tools: Snipe-IT, GLPI, and Open-AudIT are discussed as cost-effective alternatives that require more technical expertise but offer substantial capabilities in asset tracking and network discovery.
2. Risk Management Process:
   • The document outlines how these tools can be integrated into each phase of the risk management process: identifying risks, analyzing risks, mitigating risks, and monitoring and control.
   • It also discusses how these tools align with the ISO 27005 Risk Management Framework (RMF), providing a structured approach to risk management.
3. Tool Selection:
   • A comparative analysis of commercial versus open-source tools is provided, helping organizations choose the right tool based on their size, budget, and technical expertise.

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