Browse Definitions :

BACKGROUND IMAGE: iSTOCK/GETTY IMAGES

This content is part of the Essential Guide: Cut data center sprawl to improve IT capacity
Definition

IT asset lifecycle

Contributor(s): Matthew Haughn

The IT asset lifecycle is the sequence of stages that an organization’s information technology asset goes through during the time span of its ownership. 

An IT asset is any company-owned information, software or hardware that is used in the course of business. The main stages of an IT asset’s life-cycle are planning, procurement, deployment, usage, upgrade, decommission, disposition and salvage. IT asset management must incorporate effective procedures for each stage to promote the most effective use and maintenance of assets throughout the lifecycle and ensure their proper upgrading, replacement and disposal.

Some primary benefits to effective management of the IT asset life-cycle are:

  • Better knowledge of the requirements for a planned asset purchase.
  • Better informed purchasing decisions.
  • Timely replacement of consumables and resources.
  • A more complete picture of total cost of ownership (TCO).

The benefits of a well-managed IT asset lifecycle extend outside the business as well. Charitable donations and giving away equipment are less costly than paying environmental fees for proper disposal of ecologically-sensitive materials as e-waste. Donations benefit the larger community while contributing to business sustainability and hitting all three components of the triple bottom line.

This was last updated in September 2014

Continue Reading About IT asset lifecycle

Dig Deeper on Enterprise resource planning (ERP)

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

File Extensions and File Formats

Powered by:

SearchCompliance

  • risk management

    Risk management is the process of identifying, assessing and controlling threats to an organization's capital and earnings.

  • compliance as a service (CaaS)

    Compliance as a Service (CaaS) is a cloud service service level agreement (SLA) that specified how a managed service provider (...

  • data protection impact assessment (DPIA)

    A data protection impact assessment (DPIA) is a process designed to help organizations determine how data processing systems, ...

SearchSecurity

  • cybersecurity insurance (cybersecurity liability insurance)

    Cybersecurity insurance, also called cyber liability insurance or cyber insurance, is a contract that an entity can purchase to ...

  • phishing

    Phishing is a form of fraud in which an attacker masquerades as a reputable entity or person in email or other communication ...

  • cybercrime

    Cybercrime is any criminal activity that involves a computer, networked device or a network.

SearchHealthIT

SearchDisasterRecovery

  • business continuity plan (BCP)

    A business continuity plan (BCP) is a document that consists of the critical information an organization needs to continue ...

  • disaster recovery team

    A disaster recovery team is a group of individuals focused on planning, implementing, maintaining, auditing and testing an ...

  • cloud insurance

    Cloud insurance is any type of financial or data protection obtained by a cloud service provider. 

SearchStorage

  • NVMe over Fabrics (NVMe-oF)

    NVMe over Fabrics, also known as NVMe-oF and non-volatile memory express over fabrics, is a protocol specification designed to ...

  • logical unit number (LUN)

    A logical unit number (LUN) is a unique identifier for designating an individual or collection of physical or virtual storage ...

  • CIFS (Common Internet File System)

    CIFS (Common Internet File System) is a protocol that gained popularity around the year 2000, as vendors worked to establish an ...

Close