The asset management lifecycle covers the period from initial request for an item through procurement, delivery, stocking, deployment, monitoring, support, installation (as well as all moves, adds, or changes in location), upgrades, reuse, termination, disposal, and replacement.

The wide-ranging factors under asset management have been classified using a simple, three-stage format. This is to help you understand and manage with ease the best practice methodology in asset management. The critical aspects of the cycle, from a data accuracy perspective, include request and procurement at the front end of the cycle and disposal at the back end. The asset changes that take place fall in between.