Currently ALM Octane is meant to be used along side regular ALM (ALM.net) and not really meant to replace it, a project cannot be ''upgraded'' from ALM.net to Octane. Currently to install ALM Octane in Prod you would need to setup a liunx machine to house ALM octane by itself and it would need a separate database server as well as an ''elasticsearch'' instance to point to. The main functionality that could be gained by bringing up an instance of ALM Octane alongside of your regular ALM would be if you are invested heavily into the agile methodology.

I would not currently recommend ALM Octane for use in production as it is very new and has a very very difficult install currently (only linux version for now, windows to come). ALM Octane is free to use along side regular ALM if you convert some licenses over or share licenses with an ALM.net instance when using an ALM license, However, I would suggest first maybe trying out octane in HPE/MicroFocus's SAAS environment to make sure that it is something that you would like to use, then if you like it you could then work towards getting the install media and standing up a local instance for you to use. I will put the link for the SAAS trial below:

https://software.microfocus.com/en-us/software/alm-octane