Lifecycle Management (LCM) refers to the process of managing the entire lifespan of a product, asset, or system, from its initial conception through design, development, deployment, operation, maintenance, and eventual retirement or disposal. It is used to optimize resource utilization, reduce costs, ensure compliance, and improve overall efficiency across the entire lifecycle. LCM principles can be applied to a wide range of areas, including product development, IT infrastructure, software applications, and asset management.
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