WHAT IS IT asset management process?

IT asset management (also known as ITAM) is the process of ensuring an organization’s assets are accounted for, deployed, maintained, upgraded, and disposed of when the time comes. Put simply, it’s making sure that the valuable items, tangible and intangible, in your organization are tracked and being used.

What is workflow and asset management?

A workflow is a series of tasks that process a set of data. In the context of the asset management process, a workflow includes everything from drafting assets to ingesting them to a digital solution, submitting them for approval, and editing them.

What is ITIL asset management?

The process responsible for ensuring that the assets required to deliver services are properly controlled, and that accurate and reliable information about those assets is available when and where it is needed.

WHAT IS IT asset management in ITIL 4?

IT Asset Management (ITAM) is the practice that helps your organization manage, control, and protect its IT assets and the IT services that use them. Done well, ITAM will help your organization increase value, support decision making, control costs, and effectively manage risks.

What are the components of IT assets?

Components of IT Asset Management

  • Physical: The physical info is collected using the discovery and inventory sources to accept data that shows what is deployed.
  • Financial: The second component of ITAM is the financial data.
  • Contractual: The third component of ITAM is the contract data.

Is asset management part of ITSM?

At the root of the confusion is a common assumption that asset management is the same as configuration management, which is a central process of ITSM. This happens because ‘asset’ and ‘configuration item’ (CI) are often interchangeable and, therefore, ITAM is done as part of ITSM.

What are the key risks in IT asset management?

The author suggests that there are at least five such risks that primarily contribute to an organization’s failure to optimally manage their assets: 1) not knowing what they have; 2) over or under maintenance; 3) improper operation; 4) improper risk management; and 5) sub-optimized asset management systems.

What is the definition of an IT asset life cycle?

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.