POL-9: Asset Management Policy

Purpose

This policy establishes the framework for the identification, classification, protection, and lifecycle management of all information assets within LNC Nexus. It ensures that assets are accounted for, appropriately classified, and securely managed across hosted, private, and self-managed deployment environments to support organizational security objectives and regulatory compliance.

Scope

This policy applies to all employees, contractors, and third-party partners who create, access, modify, or dispose of information assets. It covers all hardware, software, data, and intellectual property assets regardless of their location or deployment model.

Policy Statements

Asset Ownership and Inventory

All information assets must be assigned a designated owner responsible for their security and lifecycle management. A comprehensive inventory of all assets must be maintained, updated regularly, and accessible only to authorized personnel. The inventory shall include asset descriptions, ownership details, classification levels, and current status.

Classification

All information assets must be classified according to their sensitivity and impact on the organization if compromised. Classification levels shall be defined and applied consistently across all asset types and deployment environments. Access controls and handling procedures must align with the assigned classification level.

Lifecycle

The lifecycle of all information assets must be managed from acquisition to disposal. This includes secure provisioning, regular maintenance, periodic review, and timely decommissioning. Asset lifecycle stages shall be documented and tracked to ensure continuity and accountability.

Secure Disposal

All information assets must be securely disposed of when they are no longer required or at the end of their lifecycle. Disposal methods must ensure that data is irretrievably destroyed and that the asset is removed from all systems and inventories. Disposal activities shall be documented and verified by authorized personnel.

Roles and Responsibilities

• Asset Owners: Responsible for defining asset classification, approving access requests, and ensuring timely lifecycle management.
• Security Team: Responsible for maintaining the asset inventory, enforcing classification standards, and conducting periodic reviews.
• All Personnel: Responsible for reporting asset issues, adhering to handling procedures, and participating in disposal activities.

Evidence and Review

Compliance with this policy shall be demonstrated through regular audits, inventory reviews, and disposal verification. Evidence of compliance shall be retained for a defined period and accessible only to authorized personnel. This policy shall be reviewed periodically to ensure its continued relevance and effectiveness.

Exceptions

Exceptions to this policy must be documented, approved by the Security Team, and reviewed periodically. Exceptions shall be limited in scope and duration and shall not compromise the security of the organization.

Enforcement

Violations of this policy may result in disciplinary action, up to and including termination of employment. Legal action may be taken for violations that result in significant harm to the organization.

Related Policies

• POL-5: Data Classification Policy
• POL-1: Access Control Policy
• POL-17: Incident Response Policy
• POL-6: Data Retention and Disposal Policy

Revision History