Comprehensive and Detailed in Depth Explanation along with Exact Extract from IAM's five subject areas:
The asset lifecycle includes stages from planning and procurement (acquire), initial setup (commission), use (operate), and eventual retirement (dispose).
Extract from IAM Document – Asset Management: An Anatomy (v4):
"Asset life cycle stages typically include: Acquire, Commission, Operate, Maintain, and Dispose."
(Section 3.4 – The Asset Life Cycle)
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