Waterfall methodology is linear and predictive, with the project's scope, timeline, and costs defined early in the project lifecycle. Key phases in the Waterfall methodology for capital projects typically include:
- Concept and Feasibility: This initial phase involves evaluating the project's viability, objectives, and potential impact. It includes preliminary studies to assess feasibility, risks, and the project's overall scope.
- Design: Detailed designs and specifications are developed for the project, including architectural, structural, and system designs. This phase finalizes how the project will be constructed.
- Planning: Detailed project planning occurs, including the development of schedules, budgets, and resource allocation plans. The planning phase sets the roadmap for project execution.
- Construction: The actual construction of the project takes place, adhering to the designs and plans developed in earlier phases. This phase involves managing the construction process, materials, labor, and quality control.
- Commissioning and Handover: Once construction is completed, the project goes through testing and commissioning to ensure everything operates as intended. The final project is then handed over to the owner or project sponsor.
- Closeout: The project is formally closed out, with final documentation, evaluations, and any necessary training for the end-users or maintenance teams completed.
The Waterfall methodology remains popular in the construction and engineering sectors for capital projects where scope and requirements can be clearly defined from the outset.
Learn more about how to build the best Capital Project Dashboard here.
Checkout Mastt's Waterfall solutions here
