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Result-Oriented Product Service System is a type of PSS which has the highest level of service content. Result-Oriented PSS providers sell functions to customers instead of selling products. In current researches, PSS is usually modelled based on the product lifecycle perspective. This paper proposes a new concept for developing Result-Oriented PSS from the service perspective, namely the `product-service lifecycle model'. It is adapted from the `customer-service lifecycle model', which is developed for applications in E-commerce. This paper defines and discusses the stages and corresponding activities in the product-service lifecycle and proposes a guideline to design a system integrating service and product offering according to customer requirements and characteristics. At the end of paper, the authors also discuss future directions to further develop the new lifecycle concept and model.