LCS stands for Life cycle services.
It is a cloud based central repository for Microsoft Dynamics 365 Finance and Operations and to prepare and deploy projects which is called "Life Cycle Service".
You will need a microsoft account in order to login to the LCS portal.
https://lcs.dynamics.com
Once you have an associated onmicrosoft.com account you can login and create projects which are then linked to the VSTS services.
This helps the manager to have a high level overview of all the projects and the environments within a single window and manage it.
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| MICROSOFT DYNAMICS D365 Lifecycle Services |
User/admin can do all the admin related activities from the LCS portal itself.
You can create as well as deploy new environments via LCS portal.
https://docs.microsoft.com/en-us/dynamics365/unified-operations/dev-itpro/lifecycle-services/lcs.
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