All phases in the life of a product. Specific phases depend on the type of product but may include design, development, manufacture, construction, assembly, import, supply, distribution, sale, hire, lease, storage, transport, installation, erection, commissioning, use or operation, consumption, maintenance, servicing, cleaning, adjustment, inspection, repair, modification, refurbishment, renovation, recycling, resale, decommissioning, dismantling, demolition, discontinuance, disposal.
Analogising a product or processing to something alive - treating the stages as elements of its life. By defining identifiable, discreet stages, moving through that life-cycle can be done in a controlled manner.