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Acquisition/procurement process
Steps used to purchase and obtain IT assets
Assignment/accounting
Process of tracking who uses an asset
Ownership
Person or department responsible for an asset
Classification
Labeling data by sensitivity
Monitoring/asset tracking
Observing and tracking assets during use
Inventory
Complete list of all assets in an organization
Enumeration
gathering info about a system or network
Disposal/decommissioning
Process of removing assets from service
Sanitization
Permanently removing data from storage
Destruction
Physically destroying storage media
Data retention
Policy defining how long data must be kept