Q. Define Conceptual Engineering Phase for project?
The primary objective of this stage is to include and clearly define the economic feasibility of the project, sensitivity to capital and operating cost, feedstock/ product pricing and start-up timing. The Customer normally carries out activities during this project phase; however, the Customer will occasionally request Colt to carry out some of the required tasks.
The Customer must identify all the critical project elements, risks, assessments, timing and economics associated with a business plan to develop an opportunity. Initially, focus is on the "why" a business opportunity should be pursued and not technical details that are better suited for the forthcoming Design Basis Memorandum.