phase

/feɪz/ noun [C]

Definition

› a stage in a series of events or in a process of development: the early/final/late phase The inflation rate is high, even for the early phase of an economic expansion. The project is only in the initial phase, but it's looking quite promising. We're entering a new phase in international relations.the design/development/manufacturing phase After two years of discussion, the project is still at the development phase.the growth/start-up phase The merger has helped with the growth phase of our strategy.

(Definition of phase noun from the Cambridge Business English Dictionary © Cambridge University Press)