What is Life Cycle Management?
Life Cycle Management is a strategic approach to managing a facility and its components from design through construction, operation, renovation and decommissioning – integrating technical, financial and environmental perspectives.
Technical Definition: A strategic approach to managing a facility and its components from design through construction, operation, renovation and decommissioning. Life cycle management integrates technical, financial and environmental perspectives to optimise total value over time.
Why it matters: Facilities last 30-50 years but the technology inside them has a much shorter lifecycle. Life cycle management ensures technology investments are planned, maintained and replaced in a way that protects the asset owner’s long-term interests.
HubMind’s view: We structure digital information so it outlives any individual system or vendor. The goal is data that remains usable and valuable across multiple generations of technology.
Read more: The Map, The Engine and The Road.
Want to know more about Life Cycle Management?
HubMind helps you understand and apply Life Cycle Management in your facility.