IT Asset Management Procedure | ITAM102

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Streamline Your IT Asset Management with Our Procedure Template


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IT Asset Management Procedure

The IT Asset Management Procedure describes the methods for proper acquisition, installation, handling, tracking and disposal of IT assets to meet defined requirements. These Information Technology asset management policy requirements include ensuring adherence to company and industry standards, ensuring consistency throughout enterprise, and conforming to customer, legal, and regulatory requirements.

This IT Asset Management Procedure applies to all company IT assets. (18 pages, 1935 words)

IT Asset Management Responsibilities:

The Information Technology Asset Manager is responsible for tracking Information Technology assets through their acquisition, distribution, use, and disposal and for ensuring that all Information Technology asset management policies conform to standards, in accordance with ITAM101 IT ASSET STANDARDS.

Information Technology Managers are responsible for approving acquisition or disposal of Information Technology assets and for reviewing this procedure with the Information Technology Asset Manager on a regular basis, to ensure its continued conformance to ITAD101-1 INFORMATION TECHNOLOGY PLAN.

The Tech Support Manager is responsible for logging, testing, accepting, installing, maintaining, and preparing for disposal of Information Technology assets. Tech Support is responsible for ordering and receiving software via the extranet. Tech Support is also responsible for updating the Information Technology Asset Inventory when any changes to Information Technology assets have been made.

The Purchasing Manager is responsible for ordering physical Information Technology assets.

Shipping/Receiving is responsible for receiving, distribution (to Tech Support), and final disposal of most physical Information Technology assets.

IT Asset Management Definitions:

Information Technology Asset – Any computer hardware, software, Information Technology-based company information, related documentation, licenses, contracts or other agreements, etc. In this context, “asset” and “Information Technology asset” are understood to be the same.

Nonconforming Information Technology asset – Any Information Technology asset that does not conform to company requirements; Information Technology assets that don’t work at all or don’t work as expected are “nonconforming”.

IT Asset Management ProcedureIT Asset Management Procedure Activities

  • IT Asset Planning
  • IT Asset Acquisition
  • IT Asset Inspection, Acceptance, and Distribution
  • IT Asset Disposal
  • IT Asset Verification

IT Asset Management Procedure References

  • Resources Conservation & Recovery Act (RCRA) Code of Federal Regulations, Title 40- Protection of Environment, Rev July 1 (40 CFR 260-299)

IT Asset Management Procedure Forms


Information Technology Advancements

Yes, it’s a technology driven world out there. Given technology changes due to such things as Sarbanes Oxley, you will eventually have to align your business processes with your technology. Perhaps you are waiting because technology is expensive. Well, the amazing thing is that it’s getting cheaper all the time. A lot cheaper.

If you’ve got kids then you are probably aware of video game technology like the Xbox. But have you ever stopped to look at what’s under the hood of one of those boxes? In November 2013 the latest Xbox One was released. It uses the latest eight-core 1.75 GHz cell AMD custom 64-bit processor with full wireless, HDMI, Gigabit Ethernet, and Blu-Ray/DVD high-definition video. The Xbox One is built to communicate with servers in the cloud to increase the computational potential of the system.

The technical specifications surpass most desktop PCs. A brand new, $400 computer can’t hope to keep up with the Xbox One running at 1.31 teraflops (Floating Point Operations Per Second). So while you work all day on an average computer, your kids will be playing – that’s right, playing – with a super computer that will retail for around $399.

But this is not about computing performance, and flops is not the whole story. Besides, unlike a desktop PC, the Xbox One is tuned for high-definition video gaming. But still, what could your business do with supercomputing power on your desktop for $399? You may have to think outside the box for the answer to that one. And that’s one of the things your organizational leadership should be looking at in developing your strategy.

Moore’s Law

Gordon Moore, the co-founder of Intel, observed that chip (integrated circuit) complexity relative to minimum cost would double every 24 months. This implies that we will be using 100 Petaflop personal computers by 2025 (versus 1 TFLOP today).

At this rate of advancement, sometime in the next 20 years we will approach the size of the atom as perhaps a fundamental barrier to future growth. But, given the advancements in optical or DNA computing, who knows what will happen.

IT Paradigms

Moore explained that the transistor may reach the limits of miniaturization at the atomic level. The belief that we cannot keep increasing the performance of computers because of a barrier like the atom is an example of a paradigm. Paradigms operate as filters of new information based on the rules of thought that a person has learned from schools, books, culture, religion, friends, work, etc.

These thought patterns or rules block our ability to see new information, no matter how valid or accurate it may be. In other words, you don’t know what you don’t know and for most people one has to believe it to see it. But paradigms can change; and when they do they create a paradigm shift.

Paradigms Shifts

Thomas Kuhn began using the term paradigm shift in his 1962 book The Structure of Scientific Revolutions. When you encounter something you do not understand what do you do? Do you ignore it or investigate the issue? If you throw out the anomaly then you are maintaining your old paradigm, perhaps noting the event as an error. But, what if the anomaly occurs again? Do you keep ignoring it again and again? In business this occurs quite frequently.

Let’s say a customer complains about a purchase. You might ignore the first complaint, after all, you think that no one has complained about that before. But another complaint comes in and then another. At some point you investigate the complaints. What if you find nothing wrong?

You might say it is just a user error and rationalize the fact that your engineers have studied the issue, your marketing people have done user studies and you know the product is right. Yet, another complaint comes in. Can so many users really be in error? So what is going on then?

Are you looking at the problem from your vendor point-of-view? What does the customer see that is different? Here, there are two different paradigms in conflict. As the vendor you see the designs, marketing, and company perspective all based on what you want to see. But the customer does not see the designs and interprets your marketing differently. From their perspective the product does not work. If you truly investigate the anomaly and try to understand what could cause the errors you will find yourself faced with a conflict.

Your worldview may need to change in order to “see” the customer’s problem. This introduces a crisis and now you are not sure which view is right. You are now in the middle of a paradigm shift. If your company refuses to shift to the new paradigm then you will see your business decline. If you make the shift then your business will continue to grow.

Accelerating Returns

Paradigms are critical for understanding how accelerating returns works. Moore thinks the atom will stop us from building more powerful transistors. But why are we constraining our thinking of a transistor to silicon? Could we build more powerful computers out of light and use optical transistors. Or perhaps another technology will come along and replace optics — DNA computing?

Accelerating returns states that knowledge increases exponentially, and so do the returns. So, we won’t experience 100 years of progress in the 21 st century, it will be more like 20,000 years of progress (at today’s rate). The more ideas we develop now, the more new ideas we will be able to develop in the future, thus accelerating our returns…

Business Information Technology

Information Technology in Business is becoming an inextricably interwoven concept. I don’t think anybody can talk meaningfully about one without talking about the other.

Technological performance is doubling every year and yet the cost of that performance actually falls so the result is more bang for your buck. The question is, how are you using this technology to release the growth in your business, improve your processes, and deliver better results?

You see, it is not just about Information Technology in business. It’s about the quality of the business processes and their associated information interactions that are delivered over the technology that is really important, not the technology infrastructure itself.

What we should really be talking about is Information Deployment — how you create, capture, deliver, use and measure your business information. Information Deployment is the strategic differentiator that your business processes require. business information technology is now a commodity. But your business processes are your business.

Future of Business IT Processes

The future for business process looks bright. New, more powerful technology will replace the old and knowledge will continue to increase. And with knowledge comes a reduction in waste and cost. Nowhere has this been more obvious than with computers. Computers, technology, and the Internet continue to drive down the cost of doing business, which in turn introduces new paradigms and, with it, new paradigms.

Process will continue to improve as quality methods and tools propagate from company to company. Competition will continue to increase as those that have moved to a newer paradigm create new competitive advantages that the old paradigm companies fail to match.

Paradigms and accelerating returns suggest that nothing is impossible. If knowledge were linear then Moore might be right, but it’s not. New technology comes along and solves problems we thought were impossible to solve. The impossible comes from a “can’t do” paradigm. The possible comes from a new “can do” paradigm you have not seen yet.

In the last 100 years, we have seen a man walk on the moon, polio get eradicated, and toys being made out of supercomputers. Decades ago it was thought that 10% waste was normal and zero defects was impossible. Today, 1% is waste is normal and process improvement tools like lean thinking or six sigma have shown that zero defects is possible. Does this mean that in the future there will be zero-defects for all? We now know that anything is possible if you change your paradigm.


What does an IT asset manager do?

The IT asset manager makes sure that software licensing, hardware, and other assets are compliant with vendor contracts. They’re responsible for daily and long-term management of everything technology related within the company.

What is asset management in IT industry?

IT asset management is a set of business practices that support lifecycle management and decision-making in the company. The business practices combine financial, inventory and contractual functions.

What is the definition of asset management?

Asset management is often defined as a systematic approach to governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles.


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