ITIL 4 Foundation Practice Exam 2025 - Free ITIL 4 Practice Questions and Study Guide

The aspect of IT Asset Management that helps organizations manage risks is the planning for purchase, reuse, and retirement of assets. This process involves an understanding of the entire lifecycle of IT assets, ensuring that organizations make informed decisions about acquiring new assets, maximizing the utilization of existing ones, and appropriately retiring those that are no longer needed or becoming a security risk.

By planning for the purchase of assets, organizations can ensure they choose solutions that fit their needs while considering compliance and compatibility with existing systems, which helps mitigate potential risks associated with procurement. Reuse of assets not only promotes sustainability but also minimizes risk by leveraging already tested and established technologies. When it comes to asset retirement, careful planning is crucial to avoid data breaches or compliance violations that could arise from the mishandling of decommissioned assets.

In contrast, continuously monitoring service performance, while important for operational efficiency, does not directly address the proactive management of assets throughout their lifecycle. Establishing relationships with external vendors can help with various aspects of management but doesn’t inherently manage risks associated with asset ownership. Documenting service configurations is necessary for operational clarity but does not directly contribute to comprehensive risk management related to asset acquisition and lifecycle management.