ABSTRACT
Stage 2 is usually subdivided into two substages – Stage 2.1: Feasibility; and Stage 2.2: Statement of Requirements (SOR). It is in the Feasibility stage that the ideas are filtered down to a single project concept with consensus from stakeholders. The above concept goes through the review committee, and if go ahead is given by them, the Statement of Requirements (SOR) is developed by the project proponent during Stage 2.2. Here the main scope and key technical requirements of the project are finalized. Further, cost estimate (about −20 to +40 accuracy) and Health, Safety, and Environmental aspects are further studied. An initial risk assessment is done on the project scope. The required documentation and the gate assessment criteria are also more elaborate. The authors recommend that the project proponent defend the SOR in front of personnel from all specialist departments in the company, as well as invited consultants.
