Which two types of requirements should be defined within asset management?

In the context of asset management, it is essential to define both technical and functional requirements as they serve different but complementary purposes.

Technical requirements refer to the specific technical specifications and capabilities that hardware assets must possess in order to operate effectively within the technology environment of an organization. This includes details such as performance benchmarks, compatibility with existing systems, and adherence to technical standards. By establishing clear technical requirements, organizations can ensure that they procure and utilize assets that meet their operational needs and integrate well with existing infrastructure.

Functional requirements, on the other hand, focus on the expected behavior and features of the hardware assets from an end-user perspective. This might include usability aspects, operational processes, and the business functions that the asset needs to support. Defining these requirements helps organizations understand how each asset contributes to overall business objectives and ensures that the assets are aligned with user needs and organizational goals.

When both technical and functional requirements are clearly defined and documented, it creates a strong foundation for asset management, enabling better decision-making in procurement, deployment, and ongoing maintenance of hardware assets. This dual approach ultimately enhances efficiency, minimizes risks, and ensures that the assets deliver the expected value to the organization.