This research presents a novel Extended Thermodynamic Analysis Method (ETAM) to respond to the issue of `which equipment holds the highest priority of receiving improvements in a thermodynamic cycle'. This novel analysis comprises three parts: extended energy, extended entropy, and extended exergy analyses. As a case study, a lowtemperature geothermal Kalina cycle system-34 was analyzed. The results of Conventional Exergy Analysis Method (CEAM), Advanced Exergy Analysis Method (AEAM), and the proposed novel method were compared with each other. CEAM results indicate that the condenser, followed by the evaporator and turbine, has the most exergy destruction. In contrast, according to AEAM results, the top priority for improvement should be given to the condenser, followed by turbine and Low-Temperature Recuperator (LTR). The improvement priority using the presented novel extended analysis was also given to the condenser, turbine, and LTR, the nding being the same as the results of AEAM, while the proposed novel method is less complicated than the AEAM.