Asset Lifecycle Management
This includes the conceptual design phase through the regular usage to the eventual decommission and replacement. Asset lifecycle management is a business approach that aims to maximize the efficiency and cost-effectiveness of the assets throughout their lifespan. Integrating Lifecycle Asset Management In The Public Sector Sciencedirect Asset lifecycle management helps in increasing the lifecycle of assets and equipment. Asset lifecycle management . It enables you to reduce cost and risk through comprehensive operational and financial planning for the lifetime of the asset. The goal is to have a higher ROFA than your competitor so as to be the low-cost producer of a product or service. ITALM helps to increase organizational productivity by helping you make informed decisions on IT needs and services. One of the main objectives is minimizing the overall life cost of assets. IT asset lifecycle management also known as ITALM is a core process of IT asset management ITAM. When