ServiceNow Certified Implementation Specialist – Hardware Asset Management (CIS-HAM) Practice Exam 2025 - Free Hardware Asset Management Practice Questions and Study Guide

In the context of Hardware Asset Management (HAM), a key component of the total cost of ownership (TCO) encompasses not just the initial purchase price but also ongoing maintenance and operational costs associated with the asset.

Including maintenance and operational costs in TCO provides a more comprehensive view of the asset's financial impact over its entire lifecycle. This perspective is essential for making informed decisions about asset acquisition, budgeting, and resource allocation. It enables organizations to understand the long-term expenses related to the asset, such as costs for repairs, support, energy consumption, and any other operational expenses incurred during the asset's use.

By understanding the total cost of ownership, organizations can compare different hardware options more effectively and assess potential cost savings or pressures associated with each choice, leading to better financial management practices in asset management.

The other options focus on narrower aspects of asset costs, which do not encapsulate the holistic view that TCO provides. For instance, looking only at the initial purchase price ignores the continuing expenses that can significantly impact the overall cost over time. Therefore, focusing on maintenance and operational costs is vital for a complete understanding of an asset's financial implications.