ITAM Glossary

Asset (IT asset) is any IT equipment used in a company. Both an equipment unit and a spare part can be an ITAM asset. The asset can be considered as a single unit or have the Consignment attribute.

Asset location is the address where the asset is currently used. The value refers to the Location directory. The location directory has several levels: country, region, city, address, and premise. By default, when registering an asset that is in storage, the asset location value corresponds to the location of the stock and is precise up to the premise level.

Nomenclature in ITAM is a reference dictionary that contains information about the assets logic (the Spare parts kit, Consignment, and Permanent location attributes), the relation of the asset with a configuration item, information about the supplier of the assets and refers to the corresponding supply contract. A nomenclature stores the attributes related to all new assets added to it. Assets are related to correspondong nomenclatures while registration. 

Spare parts kit are assets that have the Spare part kit checkbox selected on their record form. Such assets can be represented by spare parts, tools, and accessories, and may be used to repair/maintain or upgrade assets in the corresponding tasks. After the maintenance or upgrading task is completed, the spare part assets used are associated with the asset maintained/upgraded and repeat its stage and state. Unused spare parts are returned to the stock. The Spare parts kit attribute is set at the nomenclature level and is inherited by all assets of the specified nomenclature.

Stock is a record containing accounting information about the stock that an asset is related to. Information about the stock remains in the asset record form throughout its lifecycle. The asset stock can be changed by completing the change of stock task. The stock information is used to manage assets through tasks. For example, completing a return to stock task returns assets to their stock by default, whereas inventory tasks are completed for a specified stock.

Model (a field on the nomenclature form) is the name of the model set for the nomenclature in the company catalog. The value is specified manually in accordance with the company rules and is mandatory for the nomenclature record.

CI model (a field on the nomenclature form) is a CMDB model bound to a nomenclature. The field value is specified if automatic creation of the related Configuration Item (CI) is set for the assets of the current nomenclature. The value in the field is selected from the CMDB model directory. Subsequently, the Configuration Items with attributes specific to the selected CI model are registered for all new assets related to the current nomenclature.

Responsible is a company employee financially responsible for an asset at all stages of its life cycle. By default, the Responsible person is the same employee responsible for the Stock that the asset belongs to. The Responsible person coordinates the execution of ITAM tasks that require approval of actions on the asset. The Responsible field value can be changed through the Change of responsible task.

Consignment is an attribute for an asset that does not require individual accounting. Such an asset can be registered in the system as a consignment asset record and contains mandatory indication of initial and current quantity. The Consignment consumption entity is created to register the asset consumption. The Consignment attribute is set at the nomenclature level and is assigned to all assets of the specified nomenclature. After allocating all items from a consignment asset, its current quantity becomes zero and the consignment asset enters its final state Out of stock. When a consignment consumption is cancelled, the current quantity in the consignment asset increases.

Consignment consumption is a record that keeps information on how many units were consumed from a consignment asset for a specific task. The consignment consumption record also contains information about the related tasks, the current quantity of units in the consignment, and states of the related consignment consumptions.

Life cycle of an asset is the period of time from asset creation to the end of its service life.

Useful life of an asset is a period of use (service) of an asset when the asset brings financial profit to the company. Useful life of an asset is set by the manufacturer. If the useful life is equal and relevant for the assets of a nomenclature, the useful life value can be specified on the nomenclature form. The expiry date of the useful life will be calculated for all newly added assets of the nomenclature.

AMDB (Asset Management Database) is a database on the basis of which IMACD processes are performed.

IMACD (Install, Move, Add, Change, Dispose) are processes which assets go through during their life cycle, namely installation, movement, addition, change, and disposal. In the ITAM application, the processes are performed through the registration, relocation, maintenance, upgrading, and disposal tasks.