n the documentation include an initial sketch, first draft, preliminary release, one or more revisions, and a final release. The initial sketch is simply a combination of a brief description of the idea in written form and one or more drawings. It may also include a high-level table or spreadsheet containing preliminary budget esti- mates of cost, revenue, and profit impact. A designated project manager should prepare a first draft document as soon as the bright idea gains traction and sufficient interest. This individual should be knowledgeable about the technology and basic business financial aspects of the project. The first draft should be as complete as possible in technical and financial terms. At a minimum, it should contain a technical description, list of equipment, facilities, and services required, a statement of the impact on operational functions, an estimate of the cost, revenue, and profit impact in as much detail as possible, and a schedule or estimated time frames associated with major phases or activities making up the project. Design review is a critical step in any project. Design reviews are nothing more than a small group of experts from accounting, pur- chasing, operations, and engineering considering the details of a proposed or in-progress project and making an assessment of the potential risks and unknowns associated with various aspects of the project. A design review can be conducted at any time during the life of the project after the first draft documentation is complete. Depending on the scope and size of the project, it may be valuable to stage multiple reviews as a project progresses. Design reviews may morph into project status reviews over time. Some practitioners find it valuable to conduct the first design review before release of an RFP, and a follow-on review after responses are 9 ESTABLISHING AND MAINTAINING RECORDS received, evaluated, and preliminary vendor selection is completed. Vendor presentations can be made part of a design review where all functional organizations 