A Life Cycle Analysis is an analysis of an equipment life cycle cost over time comparing costs as part of the decision making process to either repair or replace. An equipment life cycle for every medical devices entire life-span from its manufacture, purchase and planning, installation and acceptance inspection, to its every day use, as well as daily maintenance, to its final turn in disposal and retirement. Like a human being, a medical device also has a life-cycle. From birth to death, human beings pass through various stages (e.g. birth, growth, maturity, decline and eventually death). All medical equipment devices life cycle goes through multiple phases (ie. “Cradle-to-grave”) too.
There are stages in the life cycle management of medical equipment such as:
- Acceptance inspection
- Inventory and documentation
- Training users and operators
- Monitoring use and performance
- Preventive maintenance
- Regular maintenance
- Replacement and/or disposal
Understanding these different stages will provide a comprehensive and highly effective way of management of medical equipment in order to provide "top-quality" patient care. 
- ↑ U.S. Environmental Protection Agency. Life Cycle Assessment: Principles and Practice 
- ↑ Dyro, Joeseph. F. Clinical engineering handbook. Academic Press, 2004. pg. 109.