Getting on Board - Defining Life Cycle Management and its Added Value

"Management" is the coordination of technological, material, human and financial resources for an organisation to achieve its goals. Typically, this is concerned with increasing the income, e.g. by building a good customer relationship, and by reducing costs, in short, to maximise profit and thereby stay in business.

On top of the economic concern Life Cycle Management addresses the environmental and social impacts that occur in connection with the companies activities, including raw material extraction, manufacturing, transportation, product use and disposal. Whereas traditional approaches are mainly concerned with emissions control by filters and waste treatment (end-of pipe), Life Cycle Management today aims at prevention and reduction, which offer business opportunities. Examples show how businesses can gain from establishing Life Cycle Management, e.g. through cost savings by less material inputs, improved market position, improved image, strengthened co-operation in the value chain, reduced risk of environmental claims and preparedness for upcoming regulation.

A "Triple bottom line weather map" can be used to get a first picture on the companies most pressing economic, ecological, and social challenges. Items are identified and rated, which gives first hints where further research and investigation is needed and where the starting points for further investigation can be found.