- Concept
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Concept is the first phase in the project life cycle. It includes the development
and approval of the business case. During concept stage, Initial ideas about
the project are developed, different options are reviewed in order to provide
solutions to the problems and opportunities for which the project is required. This
phase is important as it usually ends with gate review which approves
the preferred option and determines the viability of the project. For
example, project is required to provide solutions for the crossing of a
river Different options were studied such as new bridge, new tunnel, use ferry,
or cable cars, preferred option is building a new bridge.