Lifecycle management process is a systematic approach to overseeing the entire life span of a product, service, or program. It involves monitoring key performance metrics, analyzing results and commercialization trends, and taking action based on data-driven insights. At its core, it’s about driving value throughout the course of an offering’s existence. It can help organizations maximize profitability and create a more sustainable business model. Lifecycle management also helps customers get the most out of their purchases, creating a positive experience from day one to retirement. To achieve success, lifecycle management needs to be properly planned and managed with precise processes. This way, companies can ensure that they are making the right decisions quickly and efficiently in order to keep their products and services running smoothly.