Project Execution Using the Stage Gate Process
- Type: Conference Presentation
- Skill Level:
In recent years more and more projects are being executed effectively using the “Stage Gate” process. This presentation provides an overview of the Stage Gate process as defined by the Construction Industry Institute (CII). The presentation includes an overview of “Front-End Planning (FEP)” through full Engineering Procurement and Construction (EPC). Front-End Planning typically includes stages FEP 1 and 2 as well as Front End Engineering Design (FEED). Specific deliverables are defined that provide the documentation required at the end of each stage (project phase). At the end of each stage, these deliverables along with a capital cost estimate are reviewed to validate economics and make the decision to proceed to the next stage of work. At the end of the FEED stage typically a +/-10% cost estimate is provided which is the basis to make the final decision to proceed with a project where substantial more funds are committed to purchase equipment, build foundations and start to install structure, piping, instrumentation.
The Stage Gate process provides companies a structured methodology to ensure the project is economically feasible and fits with a company’s overall business objectives. The process manages risks from all perspectives including that the project is safe, environmentally sound and is well planned to protect a company’s interests.