There are five stages in selecting the sample for step 17. These are based on the phase of the relevant project in the project life cycle. Your final investment decision happens between stage three and stage four.
Stage one – identify/appraise. This can also include references to:
- front end loading 1
- scoping/concept.
Stage two – select. This can also include references to:
- front end loading 2
- pre-feasibility
- evaluate
- pre-front end engineering design.
Stage three – define. This can also include references to:
- front end engineering design
- front end loading 3
- feasibility.
Note: Your final investment decision may be taken after the conclusion of stage three.
Stage four – execute and construct. This can also include references to implementation.
Stage five – operate. This can also include references to commission.
Check out the five stages in selecting a sample for step 17.