Life Cycle Assessment

Introduction

Life Cycle Assessment (LCA) is a method used to evaluate the environmental impact of a product, process or activity over its entire life cycle. The goal of LCA is to identify and quantify the potential environmental impacts of a product or service, from the extraction of raw materials, through the manufacturing and use phases, to final disposal. The LCA process provides a comprehensive and scientifically robust analysis of the environmental impact of a product, taking into account its entire life cycle.

In the context of project, program, and portfolio management, LCA can be used to evaluate the sustainability of projects and to identify opportunities for improvement. For example, a project manager may use LCA to assess the environmental impact of different project options and to prioritize projects that have the lowest environmental impact. Additionally, a portfolio manager may use LCA to assess the environmental impact of different investment options and to prioritize investments in companies that are actively engaging in sustainability.

LCA can also provide valuable information for stakeholders, including investors, customers, and policymakers, who are interested in understanding the environmental impact of the products and services they use and invest in, and help them make more informed decisions.

In conclusion, LCA can be a valuable tool for project, program, and portfolio management, as it provides a comprehensive and scientifically robust analysis of the environmental impact of projects and enables managers to identify opportunities for improvement and make informed decisions. As sustainability becomes increasingly important to investors and customers, LCA will play an increasingly important role in project, program, and portfolio management, helping companies and investors to achieve their sustainability goals and drive positive change in the world.

History of LCA

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Strenghts and limitations

Rather than saying that LCA calculates actual environmental impacts, it is more accurate to say that it calculates impact potentials.

References

1. Project Management: A guide to the Project Management Body of Knowledge (PMBOK guide), 7th Edition (2021) https://findit.dtu.dk/en/catalog/2702860479
2. Project Management: ISO 21502 (2021 Edition) https://findit.dtu.dk/en/catalog/2690497944
3. Program Management: ISO 21503 (2017 Edition) https://findit.dtu.dk/en/catalog/2441783644
4. Portfolio Management: ISO 21504 (2015 Edition) https://findit.dtu.dk/en/catalog/2441783648
5. Life Cycle Assessment:Theory and Practice (Michael Z. Hauschild, Ralph K. Rosenbaum, Stig Irving Olsen) https://link.springer.com/book/10.1007/978-3-319-56475-3