This new Executive Briefing concentrates on the management of equipment with respect of lifecycles, changes and administration that is at an organization's disposal for IT purposes. The interlock of IT asset management within service management, as practiced in managed services and outsourcing is discussed. Organisational requirements to manage IT assets are structured into a practical framework for best practice and shaped into three levels of asset management services. Based on this model, service components, roles and responsibilities and data models are discussed from a senior management point of view. An evaluation of sample tools available for inventory scanning, remote management and software distribution will also be provided.