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Design Process Kills Creativity / Design Process Creates Creativity
Process: A series of actions or steps taken to achieve an end
Method: A particular procedure for accomplishing or approaching something, esp. a systematic or established one.
Method does have a "softer" feel...more open ended. But I use "process" because it implies reliable repeatability... something that business often like to feel. Note the words "achieve an end"...process is more directed. That may be a minus and a plus.
And you're very right about having clear, tangible deliverables at the end of each phase. In fact, I'd argue that this is the *purpose* of phases! Taking a pause to look back and forward and having a "real thing" to look at...even if it's a poster on the wall..is invaluable.