Internet Technology Asset Management

Definitions

Asset Management

Asset management refers to systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets and to intangible assets.

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Asset management refers to systematic approach to the governance and realization of value from the things that a group or entity is responsible for, over their whole life cycles. It may apply both to tangible assets (physical objects such as buildings or equipment) and to intangible assets (such as human capital, intellectual property, goodwill or financial assets). Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets in the most cost-effective manner (including all costs, risks and performance attributes).

The term is commonly used in the financial sector to describe people and companies who manage investments on behalf of others. Those include, for example, investment managers that manage the assets of a pension fund.

It is also increasingly used in both the business world and public infrastructure sectors to ensure a coordinated approach to the optimization of costs, risks, service/performance and sustainability.

The International Standard, ISO 55000, provides an introduction and requirements specification for a management system for asset management. (WIKI)

 

Financial asset management

The most common usage of the term “asset manager” refers to investment management, the sector of the financial services industry that manages investment funds and segregated client accounts. Asset management is part of a financial company which employs experts who manage money and handle the investments of clients.

Physical and Infrastructure AM

Infrastructure asset management is the combination of management, financial, economic, engineering, and other practices applied to physical assets with the objective of providing the best value level of service for the costs involved.

Enterprise asset management

Enterprise asset management (EAM) systems are asset information systems that support the management of an organization’s assets. An EAM includes an asset registry combined with a computerized maintenance management system (CMMS) and other modules (such as inventory or materials management).

Public asset management

Public asset management expands the definition of enterprise asset management (EAM) by incorporating the management of all things of value to a municipal jurisdiction and its citizens’ expectations. An example in which public asset management is used is land-use development and planning.

Intellectual and non-physical asset management

Increasingly both consumers and organizations use assets, e.g. software, music, books, etc. where the user’s rights are constrained by a license agreement.

 An asset management system would identify the constraints upon such licenses, e.g. a time period. If, for example, one licenses software, often the license is for a given period of time. Adobe and Microsoft both offer time-based software licenses. In both the corporate and consumer worlds, there is a distinction between software ownership and the updating of software. One may own a version of the software, but not newer versions of the software. Cellular phones are often not updated by vendors, in an attempt to force a purchase of newer hardware. Large companies such as Oracle, that license software to clients distinguish between the right to use and the right to receive maintenance/support.[4]

 

Types of Asset Management

EAM

Enterprise Asset Management

Enterprise Asset Management (EAM) involves the management of the maintenance of physical assets of an organization throughout each asset’s lifecycle. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information.

SAM

Software Asset Management

Software Asset Management (SAM) is a business practice that involves managing and optimizing the purchase, deployment, maintenance, utilization, and disposal of software applications within an organization.

HAM

Hardware Asset Management

Hardware Asset Management (HAM) is the management of physical components (desktops, laptops) and computer networks from the procurement stage to the retirement of the asset.

PAM

Public Asset Management

Public Asset Management (PAM) is the discipline of sustaining public infrastructure and facilities such as airports, bridges, waterways, electric grids, parks, ports, mass transit systems, schools, public spaces, railways, roads, waste systems and water supplies.

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Stephen O'Reilly

Founder, CEO

iTAM Manager and Process Lead. Leading efforts to mature the Software licensing position of one of the largest privately owned multinational corporation. Support the businesses before and during Audits and implementing controls to improve Audit readiness.

Raymond M. Andrews

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Raymond Andrews has a strong background in organizational policy and IT Technical Support. Ray´s current task include the creation of the web-portal and uploading content, and IT modules.

 

 

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. Design, refine and improve SAM and iTAM processes. Project manage and drive different optimization initiatives.

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Usha Subba provided updated ITAM information from around the world regarding the categories of; Advocacy, Education, Corporate, Standard, and ITAM. 

ITAM - By the numbers

The ones who are crazy enough to think they can change the world, are the ones that do.

Here are some of the numbers regarding Internet Technology Asset Management and ABCITAM which make the market rich with potential and sustainable growth.

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"Thank you to the ITAM team for delivering an inspiring new list of potential online programs which should help in ficilitating new educational tools and initiatives for youth as well as adult-education. We thank the team for their innovative approach that was visually stunning and allowed our group to learn from professionals."
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School Advisory board
"Thank you so much for all your hard work, your strong work ethic and hands on approach regarding our company and its assets. We’ve had great feedback from both Stephen O´Reilly and his team regarding our companies cyber security needs and IT restructuring for the future. We hope to save money on our changes instead of giving it away to an unstructured profit drain. It was a pleasure working with you. We hope to have the opportunity to work with you again in the future.!"
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Thomas Kellman
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"Thank you so much for your work on the educational web platform this year in Europe. We were thrilled with the presentation and technical knowledge from your presenters. We gained valuable knowledge which we can use in our daily operations back home."
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Mette Bright
Erasmus + UK
"A big thank you for your support with our companies platform upgrade and cyber security packages. We could not have asked for more and regardless of the reduced budget the commitment to 24/7 monitoring and IT security. Its important to protect our information and our clients. We thoroughly enjoyed working with you. "
Justin Guinney, Vice President, Computational Oncology, photographed at the 2019 Sage Assembly: Open Science and the Role of Common Evidence, held at the Bell Harbor Conference Center in Seattle, July 25, 2019. (Photo by Dan DeLong)
Richard Green
Green & Wilder IT Systems

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