What is the essential purpose of the physical design phase? Who must be involved in this phase,

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What is the essential purpose of the physical design phase? Who must be involved in this phase, and who may be involved? What are the two philosophies of physical design on the different ends of the continuum, and how are they different? Is this a likely phase in which a project might be canceled? With what other phase is there likely to be overlap, and what do you think is the reason for this?

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