Product Lifecycle Management and Project Life Cycle Management

The pressure on businesses to incorporate the principles of sustainable development into policies and activities is mounting. Project management methodologies are not excluded from this pressure. The current project management frameworks do not effectively address the three goals of sustainable development, i.e., social equity, economic efficiency and environmental performance. A prerequisite for aligning these frameworks with the principles of sustainable development is a clear understanding of the various life cycles involved in a project and the interactions between these life cycles. The way forward to achieve true Sustainable Project Life Cycle Management in the manufacturing is subsequently outlined.