ITIL 4 Foundation Practice Exam

What is the purpose of the IT asset management practice?

1. The practice of maintaining the security of IT assets

2. The practice of planning and managing the full lifecycle of all IT assets

3. The practice of maximizing the speed of IT service delivery

4. The practice of troubleshooting IT asset issues

The correct answer is: The practice of planning and managing the full lifecycle of all IT assets

The purpose of the IT asset management practice is centered around planning and managing the full lifecycle of all IT assets. This involves not only the acquisition and deployment of these assets but also their maintenance, optimization, and eventual disposal. By focusing on the entire lifecycle, organizations can ensure that their IT assets are used effectively and efficiently, providing value throughout their service life. Effective asset management leads to better financial control, compliance with regulations, and improved risk management as organizations clearly understand what assets they have, how they are being used, and their overall value. This practice supports strategic decision-making and helps in aligning IT assets with business objectives, ensuring that the organization is not only maintaining its assets but also leveraging them for optimal performance and cost-effectiveness. This comprehensive approach differentiates IT asset management from other practices that may focus on specific aspects, such as security or speed of service delivery, which are certainly important but do not encompass the full scope of managing IT assets across their lifecycle.