Application and development life cycles
Organisations know that their IT hardware infrastructure, with items such as large computers, is an asset in financial terms and requires maintenance.
There is now increasing recognition that IT applications are also valuable assets for an organisation that need to be managed. Similarities exist with a machine that is used to create volume products; over time it will become obsolescent or need maintenance and replacement (unless it is discarded because the requirement has disappeared). Similarly an application will be used to generate a large number of business transactions based on defined business rules. When these business rules and the technologies change, the application needs to be updated. ...