* The ServiceNow asset lifecycle defines and describes the series of stages involved in managing an IT asset throughout its useful life1.
* The asset lifecycle usually follows a formalized process and is often tracked and supported by software tools1.
* Although different organizations in different industries may have their own versions of the asset lifecycle, most follow the same basic format1.
* Here, we explore the six stages of the asset lifecycle: Request, Fulfill, Deploy, Monitor, Service, and Retire1.
* Out of these six stages, three are also components of the asset lifecycle: Order, Install, and Receive2.
* Order: This is the stage where an asset is purchased or acquired from a vendor or supplier. The order stage involves creating purchase orders, tracking shipments, and updating the asset records2.
* Install: This is the stage where an asset is physically installed or configured in a location. The install stage involves scanning asset tags, updating asset status, and assigning asset owners2.
* Receive: This is the stage where an asset is received and verified by the organization. The receive stage involves checking the asset condition, validating the asset information, and updating the asset inventory2. References:
* 1: What is the IT Asset Lifecycle? - ServiceNow
* 2: ITAM Lifecycle Management: How does it all work?

* The current value of an asset is the amount that the asset is worth at the present time, based on its original cost and the accumulated depreciation1.
* The current value of an asset is also known as the residual value or the book value12.
* The residual value is the estimated value of the asset at the end of its useful life2.
* The residual value is used to calculate the depreciation expense of the asset over its useful life2.
* The residual value is different from the salvage value, which is the estimated value of the asset if it is sold or disposed of2.
* The cost of ownership is the total amount of money spent on acquiring, maintaining, and operating an asset over its lifetime3.
* The current balance is the amount of money available in an account at a given time4.
References: 1: Asset depreciation 2: Depreciation 3: Cost of ownership 4: Current balance

Normalization is the process of aligning hardware asset data with the ServiceNow Content Library, which provides standardized values for manufacturer, product name, and model number. During normalization, the system compares the hardware model data with the content library and assigns a status to indicate the level of match. The status of Match Not Found means that the system could not find any matching record in the content library for the hardware model. The most common cause for this status is missing data, such as an empty manufacturer field or a generic product name. To resolve this issue, the user can manually edit the hardware model record and provide the missing data, or use the lookup feature to search for a matching record in the content library. Alternatively, the user can create a new content library record for the hardware model and link it to the asset record. References:
* Hardware model normalization
* Normalize hardware models
* Create a content library record

Normalization is the process of standardizing the hardware model data by manufacturer name, model name, and model number1.
Normalization helps to maintain a clean and consistent configuration management database (CMDB) and to avoid duplicate or inaccurate hardware models1.
Normalization first runs to normalize the record when you save the hardware model record1.
This means that when you create or edit a hardware model record, the system automatically checks the record against the normalization rules and the Hardware Content Service Lifecycle data, and updates the record with the normalized values if applicable1.
Therefore, the answer that reflects when normalization first runs is C. When you save the hardware model record.
The other options are not the correct answer because they describe different scenarios or actions:
A: When the daily scheduled HAM - Daily job runs: This is not the correct answer, because the daily scheduled HAM - Daily job does not run normalization. The daily scheduled HAM - Daily job is a scheduled job that runs various tasks related to hardware asset management, such as updating the asset status, calculating the depreciation, and sending notifications2.
B: When the weekly scheduled HAM - Normalization job runs: This is not the correct answer, because the weekly scheduled HAM - Normalization job does not run normalization for the first time. The weekly scheduled HAM - Normalization job is a scheduled job that runs normalization for all the existing hardware models in the CMDB on a weekly basis1. It does not affect the newly created or edited hardware models, which are normalized when they are saved1.
D: When you click the Normalize Hardware Model link under Related Links: This is not the correct answer, because clicking the Normalize Hardware Model link under Related Links does not run normalization for the first time. Clicking the Normalize Hardware Model link under Related Links is a manual action that allows you to run normalization for a specific hardware model record at any time1. It does not affect the automatic normalization that runs when you save the hardware model record1. References:
1: Hardware Normalization
2: Daily Scheduled HAM - Daily Job

According to the Hardware Asset Management documentation, the hardware model normalization process is a process of comparing the model data in the ServiceNow platform with the data from the Content Library, which is a cloud-based service that provides normalized and enriched hardware model data.
The Content Library automatically populates your inventory with non-discoverable asset metadata, which are the data that cannot be obtained from discovery tools or manual entry, such as manufacturer name, model name, model number, and product lifecycle information1.
The product lifecycle information includes the manufacturer lifecycle dates, which are the dates when the manufacturer stops selling, supporting, or servicing a hardware product1.
The manufacturer lifecycle dates are important for hardware asset management, as they help customers plan for hardware refreshes based on end-of-life (EOL) and end-of-service (EOS) dates2.
Therefore, the correct answer is option C, manufacturer lifecycle dates, as they are the non-discoverable asset metadata that the Content Library automatically populates your inventory with as part of the hardware model normalization process. References:
Hardware Asset Management documentation
What is Hardware Asset Management?