Home / ITIL Financial management / Total Cost of Ownership (TCO)

Total Cost of Ownership (TCO)

ITIL Financial managementMinimizeMoney

Definition

Total Cost of Ownership, for example of an (IT) system. A frequently used measurement to assess the total cost of maintaining, or investing in a new, (IT) system, including hardware, software, installation and maintenance services, and the associated cost of the business process(es) that the (IT) system supports.

Tags

TCO, total cost of ownership, maintenance, hardware, software, support, cost