Asset Repurposing or Disposal

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Name:	Asset Repurposing or Disposal
Acronym:
Type:	Glossary Item

Definition:

Asset Repurposing or Disposal involves the processes used by an organization to decommission, retire, repurpose, reclaim, and dispose of assets. This could be due to deterioration, technology improvements, obsolescence, or changes in performance, legal, regulatory and/or capacity requirements.

Statement:

Asset Repurposing or Disposal includes the integration with other organizational strategic planning activities. This includes environmental and social focus on re-use, reclamation, recycling and reduction of waste and carbon footprint. This encourages organizations to include repurposing and recycling as key considerations in asset decommissioning activities as part of life cycle management. The financial and risk management implications of asset repurposing or disposal are significant inputs to related organizational strategic and Asset Management decisions.