for a successful
A successful project is not defined solely by whether operational goals were met. In addition
to typical cost and schedule constraints, there may also be other success criteria related to
safety performance, product quality, sustainability objectives, or implementation of new
process technologies to consider.
Front-end loading (FEL) is a phased approach to project execution in which stakeholders make key decisions at the end of each phase about whether, or how, to proceed.
Each phase advances the project definition to a pre-determined status which generally
corresponds to the level of confidence in the project cost estimate, expressed as a percentage range around the most probable project value. There are a few variations of
this technique, including some which have been customized for use by specific companies, but the underlying principles are fairly consistent. Depending on the industry, FEL
is also known as pre-project planning (PPP) and front-end engineering design (FEED).
FIG. 1. The influence curve of projects at various stages