The Institute of Asset Management IAM-Certificate Exam - Topic 2 Question 16 Discussion

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)