The sum of the practices and processes that an enterprise uses to manage the total life cycle cost investment in its portfolio of strategic assets is called what?

Total Cost Management (TCM) is a comprehensive approach that encompasses all the practices and processes an organization employs to manage the complete life cycle cost of its strategic assets. This method underscores the importance of understanding costs over the entire lifecycle of an asset—starting from initial investment through operation, maintenance, and eventual disposal.

Implementing TCM allows an organization to make informed decisions that optimize their resource allocation, enhance project performance, and ultimately maximize value. By focusing on the total life cycle, organizations are better equipped to identify cost savings and efficiencies, as they are not just assessing initial costs but are considering long-term financial implications associated with each asset.

In contrast, options like cost engineering and cost analysis are more focused on specific techniques and methodologies to either assess or manage costs, rather than encompassing the entire strategic vision of managing life cycle costs as TCM does. Financial oversight typically pertains to broader financial management principles and does not specifically address the detailed life cycle cost management context. Thus, Total Cost Management is the most accurate term to represent the holistic strategy described in the question.