The scope, methodology, and preliminary results are presented of a series of neutron transport and activation analyses aimed at updating the ITER radioactive inventory assessment and assisting the waste management planning. Calculations are performed using state-of-the-art three-dimensional models, codes, and data libraries and thereby overcoming earlier conservative one-dimensional evaluations. The latest information on component design, maintenance, materials, and French regulatory framework is used. Results include categorization snapshots at different decay times, time histories of activation, IRAS index and other radiological quantities throughout the machine, and guidelines on interim decay times for different components. The aim is to provide information for the design and development of ITER systems, maintenance operations, and waste management processes and services.