The purpose of Asset Management is to help identify, control, record, audit, verify and report assets across their lifecycle, from the point of acquisition through to their disposal. It maintains accurate information on the historical, current and planned state of assets and protects integrity by ensuring only authorised assets are used.
Effective Asset Management is critical to supporting processes. It supports many of the ITIL processes by providing accurate information to help the decision-making process, e.g. planning change, approving release, resolving Incidents and Problems.