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For many owner companies, the process for managing and executing capital projects relies on a “phases and gates” approach. The move toward this type of capital process began more than 10 years ago, as companies faced increased competition to reduce cycle time and improve cost effectiveness in their capital programs. The sequence of activities to engineer, design, procure, and construct capital projects is divided into phases. By clearly specifying the project deliverables for each phase, and identifying clear review points or gates, the project process comes under closer scrutiny and better control. By using a phases and gates process, many companies have been able to better implement good project management practices, improve project cost effectiveness, reduce cycle time, and obtain better safety and operability goals.



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