IT Asset Management

Definition

To fulfil the purpose, an organization needs to:

• Ensure that the organization has relevant information about its IT assets throughout their lifecycle
• Ensure that the utilization of IT assets is continually monitored and optimized

Key Terms

IT asset: any financially valuable component, resource, or capability that could contribute to the delivery of an IT product or service.

IT asset register: a collection of information about IT assets that includes their ownership, cost, and other key characteristics.

IT asset lifecycle: the various stages in the life of an IT asset, from planning to disposal.

IT asset decommissioning: the act of retrieving or recovering IT assets from a consumer.

IT asset disposal: the act of permanently removing an IT asset that is no longer in use.

Asset Lifecycle

The IT asset lifecycle follows six stages: Plan → Acquire → Deploy → Operate → Optimize → Retire/Dispose. Each stage has distinct activities and outputs that feed into the next.

1. Plan

• Assess asset needs based on service requirements
• Budget allocation and procurement planning
• Evaluate build vs buy vs lease decisions

2. Acquire

• Procurement and vendor selection
• License management and contract negotiation
• Asset registration and tagging

3. Deploy

• Installation and configuration
• Assignment to users, services, or locations
• Integration with existing infrastructure

4. Operate

• Monitoring utilization and performance
• Maintenance and support
• Compliance and license tracking

5. Optimize

• Utilization reviews and reallocation
• Upgrade and refresh planning
• Cost optimization

6. Retire/Dispose

• Decommissioning and data sanitization
• Environmentally responsible disposal
• Regulatory compliance for disposal

Processes

Managing a Common Approach to ITAM

1. Analyse stakeholders' requirements and IT asset risks: Understand who needs asset information and what risks exist.
2. Define and agree the ITAM approach: Establish scope, policies, and governance.
3. Communicate and integrate: Embed ITAM into organizational value streams.
4. Review and adjust: Periodically assess and improve the approach.

Managing the IT Asset Lifecycle and Records

1. Analyse resources and identify IT assets: Determine which resources qualify as assets.
2. Verify IT assets and lifecycle model: Confirm the correct lifecycle model applies.
3. Follow the lifecycle model: Track assets through their lifecycle stages.
4. Manage exceptions: Handle assets that do not fit standard models.
5. Review the lifecycle: Periodically assess lifecycle effectiveness.

Verifying, Auditing, and Analysing IT Assets

1. Plan audit: Define scope and schedule.
2. Collect IT asset data: Gather information through inventory or discovery.
3. Verify IT asset data: Compare against the asset register.
4. Review and analyse findings: Identify discrepancies and trends.
5. Compose and communicate reports: Document and share findings.

Recommendations for Practice Success

• Focus on stakeholder value: track what matters for service delivery and financial management
• Create an IT asset register and regularly update it
• Implement traceability: know where assets are and who is using them
• Establish governance for asset acquisition and disposal
• Train and equip staff with the right tools and knowledge
• Integrate ITAM with other practices (configuration management, financial management, procurement)

Key Metrics

Key Roles

• IT asset manager: Coordinates the ITAM practice and maintains the asset register
• IT asset custodian: Responsible for the physical care of assigned assets
• IT asset analyst: Analyses asset data, utilization, and costs
• License manager: Manages software licensing compliance
• IT asset owner: Accountable for specific assets or asset groups

Software Tools

• Procurement systems
• Accounting systems
• Geolocation and geofencing systems
• Inventory and discovery tools
• Labelling, barcode, QR code reader systems
• Workflow management and collaboration tools
• Analysis and reporting tools