What are the Five Stages of every construction project?

The Five Stages of every construction project encompass essential phases that outline the process from conception to occupancy. The correct response identifies these stages as Real Estate, Financing, Design, Construction, and Occupancy.

Real Estate refers to the initial phase where the project is conceptualized, and decisions are made regarding the location and scope. Financing is crucial as it involves securing the necessary funds to ensure the project can proceed as planned. The Design phase is where the project's blueprints and specifications are developed, leading to the actual Construction stage where the physical building occurs. Finally, Occupancy signifies the completion of the project, where the structure is ready for use.

In contrast, other options mention stages that may be relevant in project management but do not accurately represent the specific phases of a construction project. For instance, stages like Testing and Handover are not universally recognized as formal stages within the construction context but rather are actions that might take place during or after the construction phase. The initiation and closure phases are broader project management concepts that apply to various project types, but they lack the detailed focus on the construction aspects specific to the correct choice.