Explanation
Original costs are the costs that are incurred when acquiring a hardware asset, such as purchase price or lease cost, delivery costs, and replacement parts1 Operational expenses are the costs that are incurred when maintaining and using a hardware asset, such as resource costs for support, warranty costs, and maintenance agreements1 Original costs and operational expenses are used to calculate the total cost of ownership (TCO) of a hardware asset, which is the sum of all costs associated with an asset throughout its lifecycle1 TCO helps to measure the value and performance of a hardware asset and optimize the asset management strategy1 References: 1: Total cost of ownership - ServiceNow

According to the ServiceNow Hardware Asset Management documentation, the asset lifecycle defines and describes the series of stages involved in managing an asset throughout its useful life. The first stage of the asset lifecycle is the request stage, where stakeholders get together, discuss their objectives, and determine which assets are needed and why. The culmination of this stage is a formal request for an asset. The asset lifecycle begins when the asset is requested, not when it is procured, deployed, or fulfilled. Reference:
ServiceNow Hardware Asset Management: Hardware Asset Management overview ServiceNow Hardware Asset Management: What is the IT Asset Lifecycle?