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IT Asset Life Cycle Management

IT Asset Life Cycle Management definition

IT Asset Life Cycle Management oversees an IT asset's entire lifespan in an organization. This process helps maximize technology's and software's value the whole time. Ensuring that the assets are still effective and relevant also helps cut costs.

See also: secure software development lifecycle, hybrid IT management

The IT Asset Lifecycle comprises of:

  • Planning and procurement. The first step is determining what resources the company will need and acquiring necessary tech only.
  • Deployment. It means setting up and cataloging the acquired assets and integrating them with existing infrastructure.
  • Maintenance and support. Regular updates and checks to ensure longevity and optimal functioning.
  • Monitoring. Organizations must pay constant attention to the tech they're managing. That way underutilized assets can be identified and repurposed.
  • Upgrades. Refreshing assets to keep pace with evolving technological needs.
  • Decommission and disposal. First of all, it ensures a safe ending of the asset's life. This includes erasing information and adhering to regulatory standards.