Idea Generation
This is the initial stage where creative ideas are conceived. Team members brainstorm and explore various possibilities to address a specific problem or meet a market need.

Feasibility Study
In this stage, the viability of the idea is assessed. Technical, economic, and market factors are analyzed to determine if the project is worth pursuing. This may involve conducting market research, evaluating available technologies, and estimating costs and potential returns.

Planning
A detailed project plan is developed. This includes defining project goals, objectives, tasks, timelines, and resource requirements. A project schedule is created, and responsibilities are assigned to team members.

Design and Prototyping
The design phase involves creating detailed specifications and blueprints for the product or technology. Prototypes are developed to test and refine the design. This stage often involves iterative processes of testing, feedback, and improvement.