Glossary

What is Asset Lifecycle Management?

Asset Lifecycle Management (ALM) describes the holistic process of managing assets throughout their entire lifecycle.

A sustainable Asset Lifecycle Management approach covers all critical phases – from strategic alignment, planning and development, definition and monitoring, to maintenance, procurement, supply chain management and ultimately end-of-life management. By effectively managing these steps, organizations can not only increase productivity and cost efficiency but also ensure the long-term value and lifespan of their assets.