IT asset life cycle management

IT assets are property or other items of worth (both tangible and intangible) that contribute to delivering or producing IT services. These assets are managed by IT asset management (ITAM) using two types of inventory:
• Logistical (including stock management)
• Financial (including contract management)

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[click to enlarge] Asset life cycle
These inventories are the foundation for performing IT asset life cycle management and strategic decision making for the IT environment.

All assets pass the five key stages of the asset life cycle. Although not all in the identical appearance. In the first phases assets only exist on paper in plans and contracts, resulting in tangible assets delivered and retired in the last phases.
• Plan
• Acquire
• Deploy
• Manage
• Retire

The diagram below shows which aspects can be applicable for different types of assets in the five stages of the Asset life cycle.
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[click to enlarge] Asset life cycle stages


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