Life Cycle Costing: A New Approach

According to lifecycle theory, institutions behave financially and economically at different stages of the lifecycle;This means that the financial and economic characteristics of an institution are affected by a stage of the life cycle in which the institution is located and at different stages of its life, such as product lifecycle, resources are consumed, so it is necessary to cost and manage costs.The present article aims to introduce a new approach in this field, has an innovative feature and can be considered in the field of idea generation.The life cycle of institutions is an essential factor in management, because all institutions, like living organs, have a life cycle, and face unique challenges at all stages of the development of the institution.The scientific approach of this research is philosophical and its theoretical foundations are of the type of extension research which was carried out by the method of historical cognition.The method of collecting its scientific resources is a library based on theoretical literature and research background, in the analysis of which the content analysis model was used.The results and findings of the study show.First, a theoretical model called the Financial Marketing Blend in the context of the Enterprise Life Cycle, similar to the Marketing Blend used to understand the product life cycle is essential for life cycle costing and marketing blending issues.Cost management is very important and inevitable for cost management and engineering and secondly, within the framework of the proposed model, appropriate strategies in the costing process can be identified