Critical assets are essential business resources required for the fundamental operations of an organization. Their damage or loss can lead to operational paralysis and have severe consequences for the organization. Understanding these assets is crucial for risk management, as it helps identify what is operationally critical to the business.
A critical asset can be any business resource or asset - both tangible and intangible business assets, for example:
- Real Estate: Buildings and land owned by the business.
- Machinery and Equipment: Technologies, Tools and machines.
- Inventory: Goods and materials held for sale or production.
- Cash: Liquid funds available for immediate use.
- Information Assets: Information and data crucial for business operations.
- Employee Know-How: Skills and knowledge possessed by employees.
- Intellectual Property: Patents, trademarks, and copyrights.
How to value and manage primary assets
- Open Assets Register
- Enter new or select existing Asset
- Set the value
- Enter the value of the primary asset for your organization, it will be the basis for your risk analysis
- Select risks associated with critical Asset
