Good conversation was had in the following idea, but the solution may not have been clear in the Summary Title.

Option 1 - Highest priority

This particular idea is for VersionOne enhancement to create a new asset type for "Bug". This allows lower environment bugs to be created/managed/reported it's own separate asset from Defects (which are reserved for production defects).

Other Agile tools enable this, and VersionOne is so robust I am surprised of the limitation!

Option 2 - Medium priority
VersionOne may consider allowing administrators only to create and manage their own asset types for their instance.