A life cycle has defined start and end points together with intermediate stages. In the case of a product life cycle this covers the process of managing all the stages of a product’s life from the original concept through design and manufacture to service and disposal. Investment can take place at any point during the cycle in order to lengthen the life of a product.

In the IT world there is a similar concept known as the systems life cycle or systems development life cycle (SDLC). This starts with the analysis of requirements and ends with the maintenance of the system. A systems development life cycle typically goes through the stages of analysis, design, build, test and implementation. After the implementation the system ...

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