Information Asset Lifecycle
Definition
The information asset lifecycle outlines the typical phases and management objectives that support the acquisition and delivery of required, quality information over its
useful life.
Objective
The objective of information asset lifecycle management is to optimise information asset acquisition, maximise the use of the information asset and reduce associated
service and operational costs resulting in increased information asset performance and a lower total cost of ownership.
Benefit
Asset lifecycle management is an important aspect in building capability. Knowing where information is at in its lifecycle increases the effectiveness of planning, use and
informs timely management and governance needs such as: access, data retention schedules, decommissioning, exit strategies. It can introduce opportunities to maximise
use, minimise risks and costs.
Information Asset Lifecycle
Viewpoint 1: Discrete phases
Manage & Communication
Plan
Acquire
Commission
Access
Use
Governance
Assess
Maintain
Retire
Phase Description
A summary of the management activities associated with each phase of the lifecycle is describe in table 1 below.
Organisational Management Approach
The Universities Organisational Unit delegated responsibilities for CSU information assets governance, availability, support services, business and change management
processes provide the mechanisms for ‘how’ each of the lifecycle management activities are applied.
The management of assets within CSU’s extensive information assets is distributed as informed by CSU’s organisational structure, delegations and policy.
Table 1. Phase Description
Phase
Description


Develop requirements including business, technical, operational, support and security requirements.
Build, create or acquire the information asset.

Monitor the quality of the installation or installation.





Test the information asset against requirements
Prepare the information asset for use
Classify the information asset and establish metadata and supporting documentation about the asset and its use
Ensure information assets are stored in secure organisational repositories
Ensure authorised users can access the asset

Ensure security requirements are met

Establish protocols so that the asset can be safely shared or re-used

Provide support and training to users of the information asset

Monitor usage and utilisation of the assets
Assess

Assess information asset:
- condition
- cost of maintaining
- opportunities for extending use
- current business value
Maintain

Based on assessments (ie. condition, cost, opportunities, value), apply appropriate management strategies to improve, optimise,
rationalise, enhance, replace, or decommission in order to retire.
Retire

The business requirements for using the information or data asset has significantly evolved or no longer exists

The asset has reached the end of its useful life and is decommissioned
Plan
Acquire
Commission (store)
Access
Use
Viewpoint 2: General flow between each defined phase.
Plan
Acquire
Commission
Access
Use
Maintain
Assess
Retire