How Does IT Asset Management Lifecycle Relate to ITAM?

The ITAM lifecycle provides the foundational framework upon which IT asset management practices are built. ITAM relies on the lifecycle stages (planning, purchasing, deployment, maintenance, replacement, and recycling) to ensure that all aspects of IT asset management are systematically and comprehensively addressed. This framework ensures that there are standardized processes and procedures in place for managing IT assets, leading to greater consistency, efficiency, and accountability.