What are "critical assets" in risk management?

The term "critical assets" in risk management refers to the essential components that are vital to business operations and continuity. These are the resources, systems, or infrastructure elements that an organization relies on to function effectively and to deliver its services or products. Protecting these assets is crucial because their compromise can lead to significant operational disruptions, financial losses, or risks to data integrity and security.

In risk management, identifying critical assets helps organizations develop appropriate strategies for safeguarding them against threats and vulnerabilities. This includes implementing security measures, disaster recovery plans, and business continuity strategies to ensure that the organization can maintain its operations even in the face of adverse events.

This definition underscores the importance of focusing on core elements that enable business functionality, differentiating them from aspects that may not play a direct role in maintaining operations or those that are merely excess or non-essential.