Lifecycle analysis is one of the techniques for assessing the impact of enterprise on the environment, by monitoring environmental effects of the product along its lifecycle. Since the cycle can be seen in stages (extraction of raw materials, raw materials processing, final product production, product use and end of use of the product), the analysis can be applied to all or only some parts of the aforementioned cycle, hence the different variants of this technique. The analysis itself is defined in phases according to the of ISO 14040 standard series, and involves defining the objectives and scope of analysis, life cycle inventory data analysis, life cycle impact assessment and lifecycle interpretation. Although its use is characterized by certain disadvantages, it can be said that this is still a very valuable management tool without which one cannot imagine the process of effective environmental decision-making in the modern enterprise, and consequently the complete adoption of environmentally responsible way of doing business.