Project definition and requirements gathering - What the project is, whats the scope, what will it need. Leaded mainly by the Game Design division.
System Design - Designing what the engine will need to do, how it will be done etc. This is also where sounds, artwork etc is done. Entire team participates.
Coding/Debugging - Putting everything from the previous 2 stages together into a working thing. Leaded mainly by the Software Engineering division with support from the other 3 divisions.
Game Design division is currently planning out the storyboard. If you are a part of the Game Design Division's storyboarding, please see the Game Design board! Software Engineering has also begun requirements gathering and scenario planning.