Life Cycle Management Process is the systematic and organized collection of activities and initiatives that help businesses and organizations effectively manage their products, services, and operations throughout their entire life cycles. It includes the conceptualization, planning, execution, monitoring, and evaluation of projects to ensure successful delivery and long-term sustainability. This comprehensive approach ensures that resources are leveraged efficiently, risks are effectively managed, quality standards are met, timelines are hit, and budget constraints are adhered to. Through Life Cycle Management Processes, companies can gain greater control over their products or services and better track performance for optimization.