Asset Classification and Control Program Element Implementation

C.

Valuation is performed first to identify and understand the assets needing protection.

Risk assessment is performed to identify and quantify threats to information assets that are selected by the first step, valuation.

Classification and risk mitigation are steps following valuation.

Asset classification and control is a crucial aspect of information security management, and it involves identifying and categorizing information assets based on their value and sensitivity. This process helps to prioritize security measures and allocate resources effectively.

Out of the given options, the program element that should be implemented first in asset classification and control is the classification. Classification involves the process of categorizing assets based on their value and sensitivity.

Before performing a risk assessment or implementing risk mitigation measures, it is essential to identify and classify assets accurately. Asset classification helps to determine the level of protection required for each asset and aids in identifying potential risks and vulnerabilities associated with each asset.

Valuation, on the other hand, is the process of assigning a monetary value to an asset. This is typically done after the asset has been classified and is used to determine the potential financial impact of a security breach. However, valuation is not the first step in asset classification and control.

Risk assessment is the process of identifying potential threats and vulnerabilities and evaluating the likelihood and potential impact of each risk. While risk assessment is an essential part of the asset classification and control process, it should come after asset classification.

Finally, risk mitigation involves implementing security measures to reduce the likelihood or impact of identified risks. Risk mitigation strategies should be based on the asset classification and risk assessment results.

In summary, classification is the first program element that should be implemented in asset classification and control. It helps to identify and categorize assets based on their value and sensitivity and is essential for determining the level of protection required for each asset.