TCO begins with identifying the assets to be included. Every asset associated with the management of facilities and infrastructure is candidates considered for inclusion in a TCO analysis.
A complete set of defined assets aligned with the organization’s mission creates the foundation of TCO. This foundation serves as the starting point for all TCO principles to support organizational objectives, goals, and organizational value (such as financial growth and sustainability and customer satisfaction).
The purpose of this principle is to identify the assets that become the foundation for TCO. To manage assets effectively, assets shall be identified, inventoried, and prioritized. While organizations exist at various levels of maturity and with various needs, the purpose of this principle enables the organization to manage assets, thus enabling methods to track TCO and provide significant value for the organization.
This principle is foundational to TCO and shall be implemented as the first planned program of TCO. Without this principle, TCO cannot be implemented.