A new mandate involving Life cycle management

One of the new mandates for the organization that I work for is the implementation of cost cutting initiatives to improve the bottom line. The guidelines we are required to follow are not based on cost alone. Life cycle management forms part of the decision making framework that we are required to follow. Many of the participants are not familiar with this process so we have been required to take an external course to learn more about the life cycle approach. Social and environmental concerns have assigned costs and this paradigm takes this into consideration in conjunction with economic considerations.