Lifecycle Management

Lifecycle management refers to the process of overseeing a product or project from its initial idea through development, use, and eventual retirement or disposal. It involves careful planning, execution, and evaluation at each stage to ensure efficiency and sustainability. This ensures that resources are used wisely, risks are managed, and the product meets users' needs throughout its existence. Effective lifecycle management can improve quality, reduce costs, and enhance customer satisfaction, making it an essential practice across various industries, from manufacturing to technology and beyond.