Formulation phase

NASA
The formulation phase is

{{Quote|the identification of how the program or project supports the agency's strategic goals; the assessment of feasibility, technology, concepts, and performance of trade studies; risk assessment and possible risk mitigations and continuous risk management processes; team building, development of operations concepts and acquisition strategies; establishment of high-level requirements, requirements flow down, and success criteria; assessing the relevant industrial base/supply chain to ensure program or project success, the preparation of plans, budgets, and schedules essential to the success of a program or project; and the establishment of control systems to ensure performance of those plans and alignment with current agency strategies.