Hi. Assets its a way after propossal and project. For example: you need create some system "X". You create a propossal for creation a new system. After complete a proposal you create (auto create) project from propossal. After complete project you have you System "X". This system X allow in PPM as asset this your life circle. To this asset/system you may do any changes (release/RFC), rewiev, modifications.Appears a new version you system i.e.
"As Asset represents the annual entry and review cycle of an application asset. It is meant to cycle through the various steps periodically until the application reaches the end of its life and is removed from production. Assets should be tracked at an aggregate level rather than for every single application (for example, ERP should be a single asset rather than tracking operations work at each individual module). You should have perhaps dozens of assets, but not hundreds.", unlike proposals and projects that may run into hundreds. Asset is basically to monitor and review each year, if its really required or not, and if not then remove it (close it), and if required, then you may have some maintenance budget allocated to it to run it for the remaining lifecycle and the next yearly (or so) review cycle.