Technology lifecycle examines the stages products undergo from inception to retirement. It encompasses planning, development, deployment, maintenance, and eventual phase-out of technology solutions. By analyzing these phases, organizations can identify opportunities for improvement, cost management, and strategic planning. Understanding the technology lifecycle helps businesses make informed decisions regarding investment, upgrades, and integration of new technologies. Moreover, it facilitates proactive risk management by anticipating potential challenges at each stage, ensuring a smoother transition throughout the product's lifespan.