Hardware Asset Management Foundation

Acquisition - An asset acquisition strategy is the purchase of another company through the process of buying its assets as opposed to buying its stock.

Ad hoc request - Ad hoc projects are unscheduled, unexpected requests.

Audit - An audit of your asset management function will determine the efficiency and effectiveness of your existing operations.

Decommission - The formal retirement of an asset from service, which may or may not include the actual physical removal of the asset from the premises.

Hardware Asset Management - is the management of physical components and computer networks from the procurement stage to the retirement of the asset.

IMAC - It stands for Install, Move, Add, and Change.

IT - Information Technology

ITAM - IT Asset Management is the process of ensuring an organization's assets are accounted for, deployed, maintained, upgraded, and disposed.

ITIL - Information Technology Infrastructure Library

ITSM - information Technology Service Management

Merger - In a merger, two separate legal entities become one surviving entity. All of the assets and liabilities of each are owned by the new surviving legal entity by operation of state law.

Software Asset Management - is the business initiative for reclaiming budget and maximizing value by actively governing and automating procurement, usage, and deployment of software licenses and subscriptions.

 

Activities that are performed by an organization to design, plan, deliver, operate and control information technology services offered to customers.

ITSM is focusing on aligning IY processes and services with business objectives to help an oreganization grow.

An IT service enables access to information and processes to accomplishj important business goals or otherwise provide value. IT services include the deployment and support of enterprise applications such as Exchange Server, architecting and optimizing IT infrastructure such as storage, networking, and cloud resources. Creation and management of processes such as helpdesk support and troubleshooting procedures and other areas are also included.

 

ITIL is the most widely accepted approach to ITSM. ITIL focuses on practices for aligning IT services with business needs. ITIL can help organizations adapt to ongoing transformation and scale. ITIL 4, the recent update to ITIL standards, represents a paradign shift for IT teams. It giudes teams to a holistic, business and customer value frame of reference, and encourages a more flexible approach based on how your team works.

the ITIL 4 guiding principles promote collaboration, simplicity, and feedback.

 

Organizations with robust IT infrastructure can own a lot of computer hardware: desktops, laptops,keyboards, printers, copiers, and more. To ensure that the hardware is well maintained, organizations must keep track of what assets they own, how they are used, how frequently they are used, their repair status, lifecycle information, and when they need to be replaced or disposed of.

 

Software assets are typically licensed by the organization based on the number of users that will install the software. IT asset management processes for software allow organizations to monitor their compliance status with the end user licensing agreements that allow them to use licensed software applications. Your organization can monitor the status of your licensing payments, and monitor how many licenses are in use to ensure you are getting the most value for each software license that you pay for.

 

IT asset management is a set of business practices that incorporates IT assets across the business units within the organization. It joins the financial, contractual and risk management responsibilities to manage the overall life cycle of these assets including tactical and strategic decision making.

 

IT asset maangement is an investment that provides substantial and measurable benefits for shoort, medium, and long-term needs and goals. Trained IT asset management professionals can introduce best practices that deliver real value to the organization, whether facing a software audit or preparing for a merger.

Starting in 1998, a group of software and hardware asset managers began meeting to discuss the need for a centralized organization devoted to expanding nowledge within the IT hardware and software asset management fields. Many of the basic ITAM practice principles were built around keeping track of inventory and billing purposes. The internation association of IT asset managers was founded in 2002.

 

The IT Asset Manager manages, controls, and protects the organization's IT assets throughout their life cycle, from acquisition through final disposition. in addition, the IT asset manager designs, develops, and implements the organization's asset management strategy. The hardware asset manager performs the following tasks: status and user details update, location update, create an asset, fetching standard reports, asset records update, and managing asset management tickets.

 

Asset life cycle management means overseeing each aspect of a resource in every phase of its existencxe with an organizations. It begins with detyermining what form the asset will take, how much it will cost, and how long its lifespan should be. If the company does not build and integrate the asset on its on, outside contractors may become part of asset lifecycle management. Managing the life cycle of your assets helps to expand their ability to serve for as long as possible/ It also preovides vital information about the resource's usability in real time, which increases its efficiency and service potential for your organization.

 

Planning is the first stage of maintaining asset life cycle which holds the strategy to identify the number of assets to be purchased. The asset planning stage requires a thorough evaluation of what the organization needs from the asset, and for how long. Those needs change depending on what the asset is and the nature of its work.

 

The acquisition planning phase includes all activities involved with purchasing an asset with the end goal of making the acquisition as cost efficient as possible. This phase consists of the procurement department working to find the best supplier and negotiate the best possible deal. When the asset is eventually acquired and deployed, it can then be tracked throughout its entire life cycle by using an asset management system.

 

Operation and maintenance is the longest stage of asset life cycle management. The asset is finally put to good use for which it was purchased. The performance of an asset is continuously checked for issues which might arise unexpectedly during its presence on the production floor. The prime area of focus during the utilization stage is to get the most output from the asset.

 

After the end of an asset's useful productive life, it must be disposed of. The decision to dispose of an asset should be based on the service deliverables. Before disposing of the asset, everythng is checked, treated, and processed to ensure that it should not harm nature of society. For this, all the data must be wiped from the asset. It is then dismantled piece by piece, all the parts which can be sued further are stored and those with no use are sent in scrap.

 

Install - unpacking the device for the initial use, connecting all the tools for the deployment, setting up a network printer, and downloading the user data files.

Move - Moving hardware from one location to another, moving componenet within rooms, floors, or buildings, and testing the device functionality.

Add - Installing new hardware, installatio of a software, physical inspection, and testing the device functionality.

Change - Replace the existing hardware, upgrade a program or software, and changing faulty equipment.

 

It is extremely important to keep our asset repositiroes accurate because many of our business decisions are based on this data. It helps the organization to reduce the cost that the organizations spend on purchasing new assets. Ensure assets are being used productively. It is important because it helps the organization to monitor and manage their assets using a systematic approach. Enables successful completion of IT asset refresh cycle. Enables more efficient IMAC and break/fix processes. Determines the need for procurement of maintenance contracts and software licenses. It helps in avoiding non-compliance during internal and external audits.

 

Asset Name - Host name provided by the organization owning the assets

Asset Tag - A specific numeric defined by the company

Serial Number - Unique identifying number provided the by OEM

User Details - person's name to whom the asset is assigned

Status - Lifecycle status of the asset

Location - The location where asset is physically located

Operating System - Operating system of the device

Manafacturer - Original equipment manufacturer

Model - model name and number

Asset Type - Type of EUC/DC device

Warranty expiration date - The date on which Asset warranty ends.

 

Asset management is a crucial IT responsibility. Asset management aims to ensure that the team handles all assets appropriately. Asset management includes deployment, maintenance, upgrades, and disposal when necessary. It assets include all of the tangible assets the IT department overseas.