Asset Lifecycle

An asset's lifecycle can be broken up in a number of different ways.

System 1

  1. Plan
  2. Acquire
  3. Deploy
  4. Manage
  5. Retire

System 2

  1. Identify need
  2. Gap and requirements analysis
  3. Plan
  4. Design
  5. Procure or Build
  6. Commission
  7. Operate, Maintain & Monitor Performance
  8. Modify or Upgrade
  9. Decommission (Replace or Dispose)

Related Pages

External Links & References

  1. Asset Management Policies & Practices (Section 1.2)
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