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Why Industrial Project Definition Needs to be Split in Stages

Splitting project definition in several stages is a common approach for industrial project owners. There are generally as a minimum 3 main stages: concept, preliminary feasibility and detailed feasibility (also called bankability). Why is the project definition phase thus split in stages and what are the rationale and benefits of such a practice? How can agile project management suggest improvements to the current practice? Our new White Paper [2023-02] \’Why Industrial Project Definition Needs to be Split in Stages\’ discusses the philosophy of splitting the project definition phase in stages.

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Project definition stages can be seen as runs in an agile iterative approach, where the opinion of key clients and stakeholders is obtained at the end of each run to adapt the objectives of the next. It is useful to consider project definition in that manner because it explains much of the actual practices implemented and highlights the need to be strict on the actual duration of each stage and on the clarity of the deliverables that are expected. It also emphasises how stakeholder feedback at the end of each stage will inform the expectations for the next stage of project definition.

From this perspective, agile practice can provide useful experience. For example, agile teaches us specifically that it is essential to be very strict on the timing of each iteration and to let sufficient time to determine the exact objectives of the next run. This is an example of good practices for project definition stages that need to be taken into account in the staged approach.

Read our new White Paper [2023-02] \’Why Industrial Project Definition Needs to be Split in Stages\’ to understand why this approach is essential, how many stages should be considered, and what we can learn from agile practices to enhance this approach.

If you can\’t access the link to the white paper, copy and paste the following link in your browser: https://www.projectvaluedelivery.com/_library/2023-02_why_stages_project_development_v1.pdf

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